London, 24 April 2015 – The global password management market is expected to grow at a CAGR of 16.33% from 2015-2019, according to a new report from research firm Technavio.
A password management system helps manage passwords and secure valuable organizational data by providing automated encrypted solutions. Password management solutions are widely used by end-users to secure, audit, manage, and monitor all the activities associated with privileged accounts.
These systems have seen increased demand as employees turn to mobile devices for their business needs.
“The increased demand for uninterrupted connectivity between a corporate network and an employee’s mobile device has led to the high adoption of password management in enterprises,” says Faisal Ghaus, Vice President of Technavio.
The new Technavio report also emphasizes technological advances that are driving vendors to offer SaaS-based password management solutions to their customers.
Organizations are adopting these solutions because of the benefits they offer, including the availability of pay-per-use models and the provision of instant access. The increasingly complex requirements of companies has led to a surge in demand for SaaS-based password management solutions.
“SaaS-based solutions are outpacing traditional software and service-based password management solutions because of their considerable flexibility,” says Ghaus.
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
