There is a wide variety of password management software available in the market that perform similar roles, that leads to fierce competition. LastPass is the dominant software with a market share of 21.25 percent.

The Global Password Management Software Market Report is Segmented by Solution Type (Self-Service Password Management and Privileged User Password Management), Technology Type (Desktop, Mobile Devices, and Voice-Enabled Password Reset), End-User Vertical (BFSI, Healthcare, IT and Telecommunication, and Other End-User Verticals), and Geography. The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

The password management market was valued at slightly above two billion U.S. dollars in 2022 and was expected to exceed three billion U.S. dollars in revenue by 2025. However, the past few years have seen the emergence of new and more secure authentication methods such as passwordless security or multi-factor authentication. Despite the instability that password security currently has, it remains the most used security method worldwide to grant access to company infrastructure.

Password security

When it comes to online credentials storage habits in 2021, the most common method is still to remember them by heart or write them down on paper. It is no wonder that individuals find it more challenging to keep track of all their online accounts nowadays. Consequently, people tend to reuse the same credentials when creating new online accounts in order to make passwords easier to remember. In 2021, the most frequent password encountered over a 45-day period across the Internet of Things (IoT) devices was admin, used nearly 21 million times.

Multi-factor authentication (MFA)

Simply put, MFA grants the user access to a website or application only after successfully presenting at least two pieces of evidence that could identify the user to an authentication mechanism. Depending on the desired security level, MFA can provide several authentication types. One of the most common types of MFA used by companies worldwide is an SMS code or a one-time password (OTP). In 2021, Philippines registered the highest increase in MFA volume, at over 150 percent. By contrast, Israel’s MFA volume dropped by 70 percent.

The size and share of the market is categorized based on Application (Commercial Users, Private Users) and Product (Windows Systems, Android Systems, Ios Systems, Linux Systems, Others) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

There is a wide variety of password management software available in the market that perform similar roles, that leads to fierce competition. Password management software saw a rise of more than five percent in market penetration since 2021, reaching 41.24 percent in 2024.

Product insights in the report cover various aspects of password management solutions, including:Types: Self-service password management, privileged user password management, cloud-based password management, on-premises password managementFeatures: Password storage, password generation, password autofill, multi-factor authentication, single sign-onDeployment models: Cloud, on-premises, hybrid Recent developments include: July 2022: Google updated its password managers by integrating various highly requested features to help consumers, like auto-login, credential saving, and password generation. This led to enhanced market growth owing to the higher utilization of the Google Chrome browser for web surfing and remote working., June 2022: Lookout Inc. acquired SaferPass, offering simple and secure password managers for enterprises and individuals. The acquisition helps in delivering proactive security platforms to safeguard user data and privacy while broadening the business footprint., January 2022: Keepers Security launched Secrets Manager, which secured infrastructure credentials like API keys, certificates, access keys, and database passwords. The solution included cloud-based integration with a zero-knowledge security model similar to their enterprise password management platform..

The global password manager software market is projected to reach USD XXX million by 2033, exhibiting a CAGR of XX% from 2025 to 2033. The increasing need for secure and convenient password management solutions due to the surge in online activities, coupled with the growing adoption of cloud-based services, are key factors driving market growth. Furthermore, the rising prevalence of cyber-attacks and data breaches is further fueling the demand for robust password managers. The market is segmented by application (individuals, businesses), type (local, cloud-based), and region (North America, Europe, Asia Pacific, Middle East & Africa, South America). Key players in the market include LastPass, 1Password, Okta, Keeper, KeePass, Dashlane Business, RoboForm, TeamPassword, True Key, and Enpass. North America currently holds the largest market share due to the presence of a technologically advanced consumer base and high adoption of enterprise software. Asia Pacific is expected to witness the fastest growth over the forecast period, driven by the rapidly growing internet and mobile user base in the region. Report Summary: This report provides an in-depth analysis of the global password manager software market, covering key trends, industry dynamics, and market size projections in millions of units.

The most preferred password manager in the United States was Google Password Manager, with 23 percent of respondents using it in 2022. The share of respondents using LastPass dropped from 21 percent in 2021 to nine percent in 2022. At the same time, Americans were more likely to use a password manager on their mobile phone or computer rather than on their tablet.

Password habits in the United States

The most common words used to create a password in the U.S. were curse words, along with personal facts about the user, such as a birth year or graduation year. Using publicly known facts about one’s life when creating a password, in conjunction with modern hacking tools, can easily compromise an online account - especially when only 20 percent of respondents in the U.S. create passwords with over 12 characters. Additionally, a study conducted among people who shared their streaming account password with another party showed that 36 percent of them used the same password for their personal email account.

Password breaches in the United States

Over one-third of respondents had their password breached once or twice in 2021. A common practice among people who reported having their account hacked was that they shared their personal passwords with another person. The consequences of sharing passwords can be disastrous: from having the password changed without the user’s knowledge, to simply gaining access and using the user’s sensitive data such as banking information.

The enterprise password manager market is projected to grow at a CAGR of 16.0% from 2025 to 2033, reaching $1786.3 million by 2033. This growth is attributed to the increasing need for improved cybersecurity measures to protect sensitive data in light of rising cyber threats. Cloud-based solutions are gaining popularity due to their scalability, convenience, and cost-effectiveness, while large enterprises are expected to be the primary adopters of these solutions. The market players are focusing on expanding their product offerings and expanding their geographical reach. For example, Okta has acquired Auth0, a provider of identity management solutions to enhance its product portfolio. Dashlane Business has introduced new features to enhance the security of password sharing. IBM has launched a new solution called Security Verify Access to provide unified access management to its customers. These strategic initiatives are expected to further drive the growth of the enterprise password manager market.

The global password management tools and software market has witnessed a remarkable growth trajectory in recent years. In 2025, the market size stood at a substantial XXX million, expanding at a CAGR of XX%. This growth is primarily driven by the rising concerns over data breaches and the need for robust password management solutions to safeguard sensitive information. The adoption of cloud-based technologies and the increasing prevalence of remote and hybrid work setups have also contributed to the market's expansion. The market is segmented based on application and type. Large size enterprises and SMBs constitute the major application segments, with cloud-based and on-premises solutions dominating the type segment. Key players in the password management space include LastPass, Keeper Security, ManageEngine, Specops Software, Dell Technologies, 1Password, Bravura Security, Zoho, SailPoint, and Avatier. The market analysis provides a comprehensive overview of regional dynamics, considering North America, South America, Europe, Middle East & Africa, and Asia Pacific. Factors influencing market growth, such as the adoption of advanced encryption algorithms, the integration of artificial intelligence, and the emergence of biometrics-based authentication methods, are also analyzed.

According to a 2023 survey, Google Password Manager was the most popular password manager in the United States, used by 30 percent of respondents. Apple's iCloud Keychain followed, with nearly 20 percent of users. In an increasingly digitalized world, password managers allow users a simple solution for protecting and accessing logins on multiple devices across the web.

The global password manager tool market size was valued at USD 1.95 billion in 2025 and is projected to reach USD 14.23 billion by 2033, exhibiting a CAGR of 28.6% during the forecast period. The growing demand for secure and convenient password management solutions, coupled with the increasing adoption of cloud-based services and the proliferation of connected devices, is driving the market growth. Moreover, rising concerns over data breaches and cyberattacks, and the need for compliance with regulatory requirements, are further fueling the adoption of password manager tools. Among the different application segments, small and medium-sized enterprises (SMEs) are expected to hold a significant market share during the forecast period. SMEs often have limited resources and expertise to manage their IT infrastructure effectively, making them more vulnerable to cyber threats. Password manager tools offer a cost-effective and easy-to-use solution for SMEs to secure their passwords and protect their data. In terms of regional distribution, North America is anticipated to dominate the market due to the presence of numerous technology leaders, early adoption of advanced technologies, and stringent data protection regulations.

The size and share of the market is categorized based on Application (Type 1, Type 2, Type 3) and Product (Cloud Based Password Management, Web Based Password Management, Password Management Breakdown Data by End User, Large Enterprises, SMEs) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

The global business password manager market is poised to witness substantial growth in the coming years. In 2025, the market size is projected to reach XXX million, exhibiting a CAGR of XX% during the forecast period of 2025-2033. The market growth is primarily attributed to the rising adoption of cloud-based services and the increasing number of cyberattacks. As organizations continue to embrace digital transformation, the need for secure password management solutions to protect sensitive data and prevent unauthorized access becomes paramount. Key drivers contributing to the market growth include the growing number of connected devices, the increasing adoption of remote work, and the evolving regulatory landscape. Market trends also reveal a growing demand for user-friendly and intuitive password management solutions, as well as the integration of artificial intelligence (AI) and machine learning (ML) to enhance security and efficiency. The market is segmented based on application (individuals, small businesses, large enterprises) and type (cloud-based, on-premises). The report also provides an in-depth analysis of key market players, including their market share, offerings, and strategies.

The size and share of the market is categorized based on Type (Cloud-based Password Management, On-premises Password Management) and Application (Enterprises, Personal Use) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

Market Analysis for Password Manager Software The global password manager software market is poised for significant growth, anticipated to reach a market size of 1662.8 million by 2025, exhibiting a robust CAGR of 10.5%. Fueled by the increasing adoption of cloud computing, the proliferation of internet-connected devices, and heightened concerns over data security, the market is expected to witness steady expansion over the forecast period. Key drivers include the need for enhanced password management, compliance regulations, and the rise of remote work trends. The market is segmented by type and application. Cloud-based solutions account for the majority of the market share, owing to their accessibility and affordability. Large enterprises are the primary users of password manager software due to their stringent security requirements and compliance obligations. North America currently holds the dominant regional position, with the United States being the largest market. However, emerging regions like Asia Pacific are expected to witness significant growth due to rising smartphone penetration and the adoption of digital technologies. The competitive landscape is characterized by leading providers such as LastPass, 1Password, Okta, and Keeper, who offer advanced features, multi-factor authentication, and cross-platform compatibility.

The global password management software market is expected to reach a value of USD 1446.4 million by 2033, exhibiting a CAGR of 6.0% during the forecast period (2023-2033). The growing need for secure and convenient password management solutions across various industries, including financial services, retail, IT, and communication, is driving the market demand. Additionally, the increasing prevalence of cyberattacks and data breaches has heightened the awareness of password security, leading to the adoption of password management tools. Key market trends include the rise of cloud-based password management solutions, which offer cost-effective and scalable options for businesses and individuals. The growing adoption of mobile devices and the increasing use of online platforms have further accelerated the demand for password management software. However, market growth may be restrained by factors such as security concerns and the complexity of implementing and managing password management systems. Regional analysis reveals that North America and Europe dominate the market, while Asia-Pacific is expected to witness significant growth due to the increasing digitization and the presence of a large population of internet users.

Global Password Management Tools market size 2025 was XX Million. Password Management Tools Industry compound annual growth rate (CAGR) will be XX% from 2025 till 2033.

Global Password Managers Market valued at US$ 3.03 Billion in 2023, projected to grow 21.4% CAGR to US$ 21.08 Billion by 2032.

The global Enterprise Password Management market is expected to reach a value of USD 1,064.6 million by 2033, expanding at a CAGR of 12.3% over the forecast period (2025-2033). The market is primarily driven by the increasing adoption of cloud-based services and the growing awareness of the importance of data security. Cloud-based enterprise password management solutions offer cost-effective and scalable solutions for businesses of all sizes, making them a popular choice for many organizations. The market is also segmented by application, with small and medium enterprises (SMEs) and large enterprises being the two main segments. SMEs are expected to witness a significant growth in the adoption of enterprise password management solutions due to the increasing availability of affordable and easy-to-use solutions. Large enterprises, on the other hand, are expected to continue to be the largest segment of the market, as they have more stringent security requirements and are more likely to invest in comprehensive password management solutions. The market is highly competitive, with a number of well-established vendors offering a wide range of solutions. Some of the key vendors in the market include IBM Corporation, Broadcom, Microsoft Corporation, CyberArk Software, Trend Micro, LogMeIn, Fastpass Corp, Avatier Corporation, Dashlane, Keeper Security, EmpowerID, AceBIT GmbH, Centrify Corporation, Zoho Corporation, Core Security Technologies, and Thycotic.