The research methodology involved both secondary and primary research to analyze the password management market. Secondary research included analyzing past data and industry reports. Primary research involved conducting interviews with password management solution providers, industry experts, and end users. Both qualitative and quantitative data was collected through a detailed questionnaire to understand market segmentation, trends, and forecasts. The comprehensive research methodology provided insights into the size and growth of the password management market.

1. Password Management Market - Outlook (2015-19)
for North America
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3. Table
of Contents
1. Introduction
1.1. Report Description
1.2. Objective
1.3. Scope of the Research
1.4. Regions Covered
1.5. Key Takeaways
1.6. Key Stakeholders
1.7. Key Terminologies
1.8. List of Abbreviations
2. Executive Summary
2.1. Executive Overview
3. Research and Forecasting
3.1. Research Methodology
3.2. Forecasting Methodology
4. Industry Landscape
4.1. Market Size and Growth
4.2. Competitive Landscape
4.3. Market Share
4.4. Company Classification
4.5. Region Outlook
4.6. Market Metrics
4.7. Porter's Five Forces Model
4.8. Key Drivers Analysis
4.9. Key Constraints Analysis
4.10. Key Opportunities Identified
4.11. Key Challenges Identified
5. Market Segmentation
5.1. Region
5.1.1. North America
5.1.1.1. Market Size and Forecasting
5.1.1.2. Key Drivers Analysis
5.1.1.3. Key Constraints Analysis
5.1.1.4. Key Opportunities Identified
5.1.1.5. Key Challenges Identified
5.1.1.6. Sub Segments
5.1.1.6.1. End User : Enterprise
5.1.1.6.2. End User : Mid-Size
5.1.1.6.3. End User : Small Business
5.1.1.6.4. Deployment : On-Premise
5.1.1.6.5. Deployment : Hosted
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4. 5.1.1.6.6. Industry : Financial Services
5.1.1.6.7. Industry : E-Commerce
5.1.1.6.8. Industry : IT & Telecommunication
5.1.1.6.9. Industry : Manufacturing
5.1.1.6.10. Industry : Others
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Introduction 01 5

6. 1. Introduction
1.1. Report Description
Increased competition among businesses has forced businesses to become more customer friendly and as a
part of this, businesses have started using multiple applications to address customer issues. In order to
handle multiple applications, employees of these organizations require managing more passwords and
usernames. Beyond one point, managing of these passwords becomes a complex task and time consuming
thereby employees losing their productivity. This in-turn will lead to monetary losses to the organizations.
In order to make sure that the employees concentrate on their core activities and do not spend much of
their time managing passwords, businesses implement solutions like password management which ensures
that the passwords are safe and at the same time do not cost a bomb to the companies.
This report presents interpretative and easy-to-understand facts on how the current password
management market is segmented based on end-user, verticals, deployment type and geographies. It cuts
through several facets of the password management market such as market size, market share for each
segment, the drivers and constraints of password management marketplace. It also throws light on various
verticals where password management is being rigorously implemented and the deployment type that is
being preferred. Report also provides information on the challenges and opportunities that lie ahead for
these solutions.
1.2. Objective
1.To understand the password management market across the globe by addressing the challenges faced by
the industry with regards to the adoption of password management.
2. To estimate the size of present global password management market and to forecast its future values.
1.3. Scope of the Research
Scope of the research was limited to understanding the market share across segments. Key drivers,
constraints and challenges along with their impact on various business functions in both short term and
long term were addressed. Segmentations and forecasting were done based on:
1. End-users
2. Verticals
3. Deployment Type (on-premise vs cloud)
4. Region based Segmentation
1.4. Regions Covered
1. North America (US, Canada and Mexico)
2. Europe (United Kingdom, France, Germany, Italy, Spain)
3. APAC (Australia, India, China, Japan, Singapore and others)
4. South America (Brazil, Argentina and others)
5. RoW (Middle East and Africa, South America, Russia and other countries)
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7. 1.5. Key Takeaways
The research conducted to understand password management market in different regions of the globe has
revealed some valuable insights. Some of the key take away points involve information given below:
1. North America has the highest market share whereas Europe stands next.
2. The market for password management was USD 390.05 million in 2014 and is expected to grow at a CAGR
of close to 17% till 2019.
Adoption of password management is more among enterprises who have larger workforce and require
solutions which help them to reduce helpdesk related costs.
4. On-premise solutions are more preferred over cloud based as the enterprise businesses want more
control over their data
5. Financial services companies have emerged as the largest consumers of password management solutions
as they have more sensitive customer data and deal with larger customer base.
1.6. Key Stakeholders
1.Password management solution and product providers: Password management solution providers will be
able to gauge the market more accurately as this will assist them in better decision making. Also, the
product developers would be able to develop products according to the requirement of the customers.
2. End-User companies:Report will provide the end-users, a more clear picture on the solution provider
demographics so that they can choose among the best.
3.Global Investors:Those investors who look to fund new and budding password management provider
startups will get clear picture about the market and its trends.
4.Industry Watchers:Industry and trend watchers are always referred to as trusted advisors who follow
markets. The report would add to their knowledge repository, creating value for their know-how.
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8. 1.7. Key Terminologies
1.Password Management: It is a software application that helps a user to store and organize their
passwords.
2. BYOD (Bring Your Own Device): Bring Your Own Device, refers to the policy of permitting employees to
bring their own devices, such as laptops, smart phones and tablets to their workplace.
3. MDM (Mobile Device Management): This is a term basically used for the administration of mobile devices,
such as smart phones, tablets, and desktop computers.
4. Enterprise: Companies with an employee headcount above 1001.
5. Mid-Size: Companies with an employee headcount between 501-1000.
6. Small-Business: Companies with an employee up to 500.
7. North America: North America includes countries ? USA (United States Of America), Mexico and Canada.
8. Europe: Europe includes countries ? UK (United Kingdom), France, Italy, Germany and Spain
9. APAC (Asia Pacific): Asia Pacific includes countries ? India, China, Japan, Philippines and Australia.
10. RoW (Rest of World): Rest of World includes Africa, Middle East Asia, UAE (United Arab Emirates), South
America (Brazil and Argentina), and Israel etc.
11. Cyber Security: It is a security applied to computing devices such as computers and Smartphone, as well
as computer networks, including the whole Internet.
12. Identity Theft: Identity theft is the form of stealing someone?s identity in which someone pretends to be
someone else by assuming that person?s identity.
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9. 1.8. List of Abbreviations
1. APAC:Asia-Pacific
2. CAGR: Compound Annual Growth Rate
3. ECSG: Europe Cyber Security Group
4. NASAA: North American Securities Administrators Association
5. NCSA: National Cyber Security Alliance
6. NCSIA: National Cyber Security Intelligence America
7. SMEWG: Small & Medium Enterprise Working Group
8. USA: United States of America
9. UK: United Kingdom
10. GDP: Gross Domestic Product
11. CMDS: Center for Media, Data and Society
12. USD: United States Dollar
13. BYOD: Bring Your Own Device
14. MDM: Mobile Device Management
15. IT: Information Technology
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Executive Summary 02 10

11. 2. Executive Summary
2.1. Executive Overview
With the increased use of Internet technologies, advent of new specific applications, businesses have
started to transform themselves to become web based enterprises. As a result, most of the corporate
content and resources are being made available through web using multiple web based applications. This
has forced the workforce of the organizations to manage multiple applications and each internal user of the
application is provided with unique username and passwords for handling multiple applications. So,
imagine a situation where an employee is handling more than ten applications. In this case, he or she has to
remember their respective usernames and passwords for respective applications. For a normal person, it
becomes extremely difficult to remember all these passwords. As a solution, the organization can decide to
provide a backend password helpdesk team to manage these passwords. This solution is ideal when the
workforce of the organization is limited and is assumed that there will be no further addition of new
employees and ideally speaking, this is impossible.
One way of solving this problem is increasing the helpdesk manpower so that it can handle more passwords
but the problem here is as the headcount in the company goes on increasing, management of passwords
becomes problematic for helpdesk team. Moreover, managing helpdesks becomes costly affair and puts
additional cost burden on the companies.
To overcome these situations, businesses now are looking at solutions like password management
solutions which will help them to get rid of overheads like helpdesk teams and at the same time protect
employee credentials from thefts. This means the companies no longer have to think of security risks
associated with employee passwords and at the same time do some cost cutting to achieve competitive
edge over its competitors.
North America-A catalyst for the growth
It is a known fact that businesses of North America embrace advanced technologies and as a part of this, it
has been observed that adoption of password management in this region is highest and one of the many
reasons for this trend is that businesses here face tough competition and require optimum utilization of
resource to achieve higher competence. In the North America region, the United States of America is the
biggest consumer of password management solutions. Followed by North America, Europe is next big
market for password management in the world. European countries like Germany and France have been the
front-runners in terms of adoption of these solutions.
Enterprises rule the end-user market
The password management solutions are costly and require high initial investments and are more suitable
for enterprise level businesses which have larger workforce. Thus, among end-users, enterprise level
businesses contribute close to 64% of the overall market share. Moving forward, with the advancement of
cloud based password management solutions, even mid-size and small business are expected to embrace
this technology.
On-premise deployment is the most preferred and Financial Institutions are the biggest users
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12. Due to the privacy and data protection issues, most businesses do not prefer a third party to handle their
passwords and thus go for on-premise deployment than cloud based. Moreover, the largest consumers of
this solution are the financial institutions who are bound to protect sensitive information of customers. And
although, cloud has been proved to be safe, users are still reluctant to go for cloud based and prefer
traditional password management solutions especially in the banking sector that hold account related
information of customers.
Other than the financial services, e-commerce companies, IT & Telecom providers and Manufacturing
sectors have emerged as next most users of password management solutions.
Challenges
Given the frequency with which the identity thefts happen these days, solution providers are forced to
improve their solutions such that they can ward off even the advanced forms of attacks. This has prompted
the provider companies to revisit their drawing rooms to come up with new and advanced form of password
management solutions.
Another bigger challenge is to educate the users about the existence of such solutions. Most part of the
globe, including parts of Asia has limited knowledge on these kinds of solutions and even if they are aware,
is reluctant to adopt these solutions. The service providers have to device strategy to educate customers on
the benefits of such solutions through intensive marketing.
Improved knowledge, increased workforce, cost cutting and increased need for automation will force more
and more companies to adopt password management solutions in the future.
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Research and Forecasting 03 13

14. 3.1. Research Methodology
Base Year: 2014
Forecasting Period: 2015 - 2019
3.1.1. Sampling
The leading suppliers of each end-user product categories that were chosen to provide a larger
representative sample.
Purposive unit sampling was adopted for every service segment such as verticals, regions, end-users and
others. This was resorted to, in order to elicit the appropriate inputs with regard to the qualitative growth
aspects of the market.
3.1.2. Secondary Research
The research methodology that was carried out was desk research through various journals, association
reports, and in house database to build a knowledge base on various market service segments, product
categories and industry trends.
Various fact based data was analyzed. Some of the sources included:
a. ResearchFox Knowledge Base:
Previous data on the market has been put through a rigorous and comprehensive analysis to analyze
the current state.
b. Desk Research:
Industry reports, annual reports, press releases, webinars, journals and publication, independent rating
agencies and government statistics.
3.1.3. Primary Research
Primary interviews were conducted among various stakeholders:
Product and service companies
Members of associations and alliances
Subject Matter Experts and Evangelists
Consultants and Strategists
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15. 3.1.4. Industry Information
It was essential to understand the current industry landscape, market dynamics, security ecosystem and
competitor metrics. To estimate the global market, Chief Experience Officers (CXOs), Marketing Heads, Sales
Managers and product stakeholders were interviewed.
3.1.5. Technical Information
In addition to the interviews with leading participants for industry-related information, ResearchFox
conducted interviews with Research and Development (R&D) and Design and Development teams to
understand the current usage of the products by service type and also to find out the emerging trends.
Finally, interviews with suppliers were conducted to cross check the validity of information and also to
understand the emerging trends in the end-user segment.
The detailed methodology for primary research is outlined below.
3.1.6. Primary Interview Questionnaire Design
ResearchFox developed a detailed questionnaire, which was used by the analysts as a guide for their
discussions. This process ensured the collection of all necessary data. The questionnaire was designed to
elicit unbiased industry level data (market size, production, sales, and others), that had check points
(questions such as company level information and their position in the industry acted as check points) to
ensure accuracy of the data. The questionnaire included the following sections:
1. Industry level information
2. Characteristics and Dynamics
3. Company-specific information
4. Market segmentation data
3.1.7. Interview Questionnaire Test and Validation
Following the design of the questionnaire, ResearchFox carried out some initial interviews to verify that the
appropriate market and technology data was generated. After the final design of the questionnaire,
ResearchFox began full scale primary research. Specific companies targeted for primary research interviews
were selected based upon market participation. Higher was the entity's profile, more attractive was the
entity.
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16. 3.1.8. Interview Process
As participants respond in the course of an interview, ResearchFox analysts are trained to move from lower
priority and/ or sensitive topics to increasingly key and/or sensitive topics in response to the interviewee's
behavior. This responsive and reflective interview process, combined with the analysts' ability to discuss the
industry and technical issues in an open and sharing environment, allows ResearchFox to probe for key
data, operations, and competitive information. Multiple contacts within a single organization and with an
individual are often planned and/or staged in order to optimize and complete the information gathering
process.
3.1.9. Research Validation
At a point, when 20 percent of the research interviews and/or data collection had been completed,
ResearchFox consultants evaluated the preliminary findings to assure that up-to-date results are in line with
project objectives. The analyst team analyzed the information from the interviews and information was
validated through a combination of the following validation techniques:
Cross checking with other primary data and previously developed in-house research
Review of secondary information, such as trade journals, annual reports and industry directories
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17. 3.2. Forecasting Methodology
3.2.1. Step-by-Step Methodology for Market Estimation and Forecasting
Market Estimation and Forecast Methodology, 2015
Step Method
1
Understand the market mechanism for the market through structured, systematic and theoretically established
norms of analyzing, designing, introducing and quality assurance of the market estimation
2 Measuring the various market drivers, constraints, opportunities and challenges at regular intervals of time
3 Integrate expert-opinion of discussions in consultation with the ResearchFox Analyst team
4 Market estimation and forecast calculation
5 Delphi method and Causal Analysis used as and when required
6
Rigorous quality check with heads of Research Team, Subject Matter Experts and Consultants before final
publication
Source: ResearchFox
Significance and Importance of the Market Forecast, 2015
Sr. No. Significance and Importance
1 Helps revisit on the company's R&D investments
2 Keeps the Sales and Marketing team posted on the market prospects
3 Strategize investment and expansion plans
4 Improve business planning
5 Helps create business aims and set sales figures within the company
6 Aware of the current market competition
7 Support plans for Merger and Acquisition (M&A)
Source: ResearchFox
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