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The global password management market size is expected to reach USD 2.05 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 19.4% during the forecast period.

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Increasing complexity of compliance, regulatory, and risk management environment in businesses are promoting the implementation of password management solutions across several industries worldwide. In addition, strict and complex password creation rules and mandates by governments are playing a vital role in shaping future of the market.

With upswing in the number of transactions sent via internet every day, it has become more imperative to follow secure and safe password management practices. Passwords help in protecting online information such as emails, bank accounts, medical records, and more. Breaches that occurred in 2015 with various enterprises such as Home Depot, Target, TJX, and Heartland Payment systems helped in creating widespread awareness regarding significance of using unique passwords for each online account. Most security professionals recommend use of password management applications as the most secure and practical way for people to follow safe password practices.

#PasswordManagementMarket #PasswordManagement #Networksecurity #technology
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