Grand View Research.com has announced the addition of Password Management Market Analysis And Segment Forecasts To 2020 Market Research report to their Database.

More information: Password Management

Increasing data privacy concerns and strict regulatory compliance are expected to drive the password management market. There is an increasing need to protect official and personal data through passwords; therefore password management is crucial for improved security and system usage. Growing complex systems in organizations and rules to create and change them frequently have made password management a complex job. Additionally, hacked passwords and inefficient helpdesk systems may cause loss and delay in productivity. Password management solutions increase productivity and reduce confusion at the help desk. Cost-reduction and convenience owing to the ease of operation and elimination of help desk are expected to favor the password management market. Increasing customization and synchronization needs may restrict market demand over the forecast period. Increasing cloud computing requirements are expected to provide new growth opportunities to the password management market. Additionally, increasing use of self services password solutions in small and medium businesses owing to their limited budget is also expected to provide positive avenues to market growth.

Password management projects are preferred over user provisioning projects owing to identical team requirements, shorter implementation time and simplicity. Additionally, users can be trained directly to change their passwords routinely or reset the forgotten password. Configuration and deployment can generally be completed in 5-15 days depending on the size of the organization. Helpdesk can also be trained in minutes to use the system. Once deployed the system enables cost saving by reducing password related help desk queries.
Password management is used in various industries including telecommunication, BSFI, government, manufacturing, education & research, healthcare, and energy. Telecommunication and government are expected to grow at a considerable rate over the forecast period. This system is used for secure communication services, cyber security, and countering spam technically. There are various security recommendations by ITU for data and information security.

Some of the major players providing password management solutions are Avatier, Curion Corporation, CA Technologies, Hitachi ID System, Dell, FastPass Corporation, Microsoft, IBM, Knowledge Secure System, and SailPoint. IBM Corporation offers KeePassX an open source password manager, which can be used on platforms including Linux, Windows, and Mac. It also offers auto-type feature, which can automatically enter passwords on web pages. The solution uses a 256-bit encrypted file for data storage.

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Further information: Password Management Market Research Report To 2020: Grand View Research, Inc. – visit www.pressreleaseplace.co.uk