Password Manager Software Market | Contrive Datum Insights

The Global Password Manager Software Market size was valued at USD 1.55 billion in 2022 and is projected to reach USD 4.48 billion by 2030, growing at a CAGR of 14.20% from 2023 to 2030.

Password Manager Software Market Overview

Password manager software stores the credentials of user accounts. To ensure security, this software encrypts your passwords with strong encryption algorithms that are difficult for hackers to crack. Password managers store all credentials such as credit card details, license numbers, and other sensitive information that users want to keep safe. Password management software also performs a security assessment on your entire list of user passwords and tells you which passwords are weak and should be changed. Therefore, the adoption of password management software is increasing to prevent account hacking.
In addition, increasing concerns about password security due to increasing cases of hacker attacks are increasing the demand for password management solutions. So far, the low success rate of password self-service projects among end users is a major concern among industry players. However, growing awareness of the benefits of deploying these models is expected to drive demand for self-service solutions in the future. Additionally, increasing customization, synchronization, and scaling requirements are driving demand for more extensive and sophisticated password management solutions.

To provide improved password management and security for your accounts, industry players such as Microsoft and Google are offering new password management methods such as USB tokens and automatic encryption solutions. Password management products and solutions are deployed in an on-premises environment or hosted environment overcloud. The fast-growing cloud market presents great opportunities in the hosted password management market.

The Password Manager Software Market has been recently published by Contrive Datum Insights to its huge database which helps to shape the future of businesses by making well-informed business decisions. It offers a comprehensive analysis of various business aspects such as global market trends, recent technological advancements, market size, shares, and new innovations. Furthermore, this analytical data has been compiled through data exploratory techniques such as primary and secondary research. Moreover, an expert team of researchers throws light on various static as well as dynamic aspects of the global Password Manager Software market.

Some of the key players profiled in the study are:

Different leading key players have been profiled to get better insights into the businesses. It offers detailed elaboration on different top-level industries which are functioning in global regions. It includes informative data such as company overview, contact information, and some significant strategies followed by key players: LastPass, 1Password, Okta, Keeper, KeePass, Dashlane Business, RoboForm, TeamPassword, True Key, Enpass, Avatier, Thycotic Secret Serverand, Zoho CorporationFastPassCorps and Others, and others.

Industry Development:

• In June 2020, Zoho Corporation introduced the Security Information and Event Management integrations in Zoho Vault, which is Zoho’s password management application, helping businesses securely store, share, and manage passwords from remote locations. This integration can help IT, administrators, by pushing all password-related logs from Zoho Vault to SIEM service, automating security workflows based on pre-defined conditions, securing confidential data, and complying with regulatory mandates such as HIPAA, PCI DSS, FISMA, SOX, GDPR, and ISO 27001.
• In November 2022, FastPassCorps released its updated Identity Verification Client (IVC) version 4. It is a complement to and substitutes for FPR, IVC provides a smart procedure that specifies how each employee's identification can be validated before issuing a new password.

What are the major Applications, Types, and Regions for the Password Manager Software Market?

On the Basis of Type:

• Cloud-Based
• Web Based

On the Basis of Application:

• Large Enterprises
• SMEs

• BFSI
• IT & Telecom
• Retail
• Education
• Healthcare
• Energy & Power
• Others

• Mobile devices
• Desktops & laptops
• Voice-enabled password systems
• Others

Password Manager Software Market Regional Insights:

North America is expected to grow in the Password Manager Software market. Growing cyber threats and attacks have forced governments to take specific initiatives to adopt password management solutions. For example, the National Institute of Standards and Technology (NIST) USA regularly published new guidelines for certification in 2018 to manage strong passwords. Also in 2019, NIST published new guidelines to promote U.S. industrial and innovation competitiveness through recent advances in technology, science, and standards. This will increase the security and productivity of the country increasing the adoption of security solutions in all sectors.

Geographically, the global Password Manager Software market has been analyzed in various regions such as North America, Europe, Asia-Pacific, Latin America, the Middle East, and India. The global region is dominating this market in the upcoming future.

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • France
  • Italy
  • Spain
  • UK
  • Nordic Countries
    • Denmark
    • Finland
    • Iceland
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia-Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia-Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Password Manager Software Market Report Scope:

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