Password Management Market - Global Advancements, Forecasts & Analysis (2014-2019)

By Type (Self Service Password Reset, Privileged User Password Management) & by Access (Desktop, Mobile Devices, Voice Enabled Password Reset)

[USPRwire, Fri Aug 01 2014] Password Management Market by Type (Self Service Password Reset, Privileged User Password Management) & by Access (Desktop, Mobile Devices, Voice Enabled Password Reset) - Global Advancements, Forecasts & Analysis (2014-2019)

Passwords are the authentication tool and the first line of defence against unauthorised access. The human generated passwords are not algorithmically so strong to properly justify the password compliance mandate. At the same time company norms to frequently change the passwords, make it difficult for the employees to remember all of them. Thus it becomes necessary to have a proper password management solution; which is why companies are now spending more on password management solutions, and this market is expected to grow rapidly. Password management solution is software for storing all the passwords in one location that is protected and accessible with one easy-to-remember master passphrase. This market comprises of both self service password management and privileged password management. Self services password management solution is the most popular solution for password management. It is rapidly being adopted by the small and medium size business as empowers the users by providing a simple and secure self service solution for management of passwords, and resolving account lock out incidents without any involvement of help desk personnel.

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With the increase in number of ways in which password reset can be done, the password management market is experiencing a rapid growth, which has enabled the users to opt for different password management solutions according to their business requirements. A major booster for this market is the fact that self services password management enables the users to reset their passwords on their own without the interference from the helpdesk, which reduces the cost of helpdesk. The increasing strictness in regulatory compliance to maintain strong user security and prevent data leakage is also pushing growth of this market.

The major players providing password management solutions include Avatier, CA Technologies, Courion, Dell, FastPass Corporation, Hitachi ID System, IBM, Knowledge Secure System, Microsoft and SailPoint. These players provide innovative password management solutions at attractive price options, which get delivered via on-premise or cloud.

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