Allied Market Research published a new report, titled, " Password Management Market Analysis Reach USD 15.2 Billion by 2032 ." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global password management market was valued at USD 2.4 billion in 2022, and is projected to reach USD 15.2 billion by 2032, growing at a CAGR of 20.7% from 2023 to 2032.

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The global password management market is experiencing growth due to several factors, including a rise in the adoption of remote work culture, an increase in demand for convenient authentication methods, and cybersecurity concerns among consumers. However, a lack of awareness among consumers and technical limitations hampers market growth. On the contrary, a rise in online accounts and an increase in the adoption of cloud-based services are anticipated to open new avenues for the growth of the password management market during the forecast period.

The password management market is segmented into type, access, enterprise size, industry vertical, and region. On the basis of type, the market is bifurcated into self-service password management and privileged user password management. On the basis of access, it is fragmented into mobile devices, desktops & laptops, voice-enabled password systems, and others. On the basis of enterprise size, the market is bifurcated into large enterprises and small and medium-sized enterprises. On the basis of industry vertical, the market is divided into BFSI, IT and telecom, healthcare, retail, government and public sector, manufacturing, and others. On the basis of region, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.