16 June 2008
The number of organisations around the world using software applications to manage passwords and access privileges for shared accounts grew 50 per cent in 2007, according to new research.
Analyst Gartner found that the shared-account password management (SAPM) sector is one of the fastest growing identity and access management (IAM) markets, with the firm predicting that more than half of all large organisations will use SAPM tools by 2010.
Surveying organisations, it found that growth in the market has been driven primarily by regulatory compliance, with stricter standards requiring greater degrees of personal accountability.
"Two or three years ago, the adoption of SAPM tools was largely focused on larger financial services companies," said Ant Allan, research vice president at Gartner. "However, compliance has further driven growth across a variety of vertical industries and sizes of organisations.
"SAPM tools can minimise the risks associated with the use of shared accounts, improve regulatory compliance, and reduce operational costs."
Recently, IDC reported that compliance is also driving the market for mid-sized enterprise applications, which is expected to grow at a compound annual growth rate of 10.6 per cent through to 2012, reaching £41 billion in revenues.
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