Venture Capital
Andrea Alms Video: Money In Motion 16 - The Password Management Market
August 2022 - Venture Capital
TRANSCRIPT:
Hello. My name is Andrea Alms. I am technology investor and financial manager and this is your money in motion. I was asked about essentials small business software needs. One of them would be password management. According to cyber security ventures, the total number of passwords may grow to 300 billion by 2020. The password management market was valued at 1.2 billion in 2020 and is expected to reach 3 billion in 2026 at a compound average growth rate of 15%. Organizations across the world face a massively increasing cybersecurity risk from hacked or compromised users and privileged accounts to counter this password management is predicted to be a prominent field. The password management market is concentrated due to presence of a few major players like Elliot. Here, corporate, Asian, Broadcom, which is S.A. Technologies, Core Security Technologies, Sonicwall and Fast Pass Corporation. These major players with a prominent share of the market are focusing on expanding their base across foreign countries. These companies are leveraging Strategic Collaborative Initiative JVs to increase the market share and profitability. However, with technology, technological advances and product innovation increasingly small size and medium sized companies are securing new contracts and tapping new markets. So we uncovered another billion dollar market, albeit smaller, billions yet double digit growth. Let's keep our eye on these. Thank you. This is your money. Your money in motion.