There are chances of password theft and misuse which can lead to serious security implications. Security concerns: Security is one of the major concerns associated with password management. This makes it difficult for the users to choose the right password management solution. ![]() Lack of standardization: There is lack of standardization in the password management market which is another key restraint. This is one of the key restraints in the growth of password management market. The key restraints and challenges in password management market are lack of awareness about password management among users: A lot of users are still unaware about the importance of password management and its benefits. Data theft and cybercrimes are becoming a matter of concern and password management systems provide unique account identification and effective password storage facilities. Password managers are apps that help users see and learn all the passwords stored on the device and the passwords for individual accounts. ![]() Hence, these developments are driving the market. ![]() With the increase in internet usage, improvement in communication channels, and high speed internet,various companies are gradually implementing security measures such as user accounts to ensure accountability. The growing number of internet and mobile users have a massive impact on various businesses.
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