The Asia Pacific Password Management Market would witness market growth of 22.7% CAGR during the forecast period (2021-2027).
Encryption is used by password managers to protect the data they save. This procedure scrambles data, making it more difficult for hackers, cybercrooks, and others to obtain personal data like Social Security numbers and credit card details. Encryption with a password manager is analogous to locking passwords away in a bank vault when compared to keeping them on a piece of paper in the desk or in a digital file on the laptop. The use of self-service password reset solutions by SMBs, on the other hand, appears to be a huge opportunity for this industry. The password reset market is developing as a result of this growing tendency.
Countries like China, India, and Japan are fuelling the Asia-Pacific region's growth. China's defensive capabilities have been bolstered in response to rising cyber-attacks. This is likely to increase the use of security solutions like password management to prevent illegal access. According to China's National Computer Network Emergency Response Technical Team (CNCERT), 14,000 servers infected with a Trojan virus or botnet in the United States controlled 3.34 million host machines in China in 2018, showing a nearly 90.8 percent year-over-year rise in attacks.
The China market dominated the Asia Pacific Password Management Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $238.5 million by 2027. The Japan market is poised to grow at a CAGR of 22.1% during (2021 - 2027). Additionally, The India market would exhibit a CAGR of 23.5% during (2021 - 2027).
Based on Type, the market is segmented into Self-service and Privileged. Based on End User, the market is segmented into BFSI, IT & Telecom, Healthcare, Retail & Wholesale Distribution, Public sector & Utilities, Education, Manufacturing, and Others. Based on Organization Size, the market is segmented into Large Organizations and Small & Medium Organizations. Based on Access, the market is segmented into Desktops & Laptops, Mobile Devices, Voice-enabled Password Systems and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Password Management Market is Projected to reach USD 2.9 Billion by 2027, at a CAGR of 20.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Broadcom, Inc. (CA Technologies, Inc.), Dell Technologies, Inc., Hitachi, Ltd. (Hitachi ID Systems, Inc.), Microsoft Corporation, Knowledge Secure Systems Ltd., Avatier Corporation, Delinea, FastPassCorp A/S, and Core Security (HelpSystems, LLC).
By Type
By End User
By Organization Size
By Access
By Country
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