Today, we’re publishing our third annual security report showing the latest trends in access and authentication in businesses worldwide. This year’s Global Password Security Report brings you even more interesting and relevant insights into password behaviors in the workplace, at a granular and global level. Check out the infographic below for some interesting highlights, and download the full report available in English, French, and German.
Password Manager Usage Is Up, But More Action Needed
With aggregated, anonymized data from more than 47,000 organizations using LastPass, this year’s conclusion is: More businesses are investing in solutions to address access security, and many are making significant strides, but there is still a lot of work to be done.
Password reuse is still widespread – the average employee still reuses a password 13 times – contributing to lower company-wide Security Scores. As businesses invest in solutions like LastPass and onboard more employees, consistent and long-term training programs are needed to successfully eliminate risky password behaviors. Only then will businesses achieve better Security Scores.
Companies Embrace Multifactor Authentication
More than half of businesses globally – 57% – have employees using multifactor authentication, up 12 percentage points from last year’s report. Software-based MFA options, like LastPass Authenticator, Duo Security, and Google Authenticator, are the most popular choices. Denmark leads in MFA usage, with employees in 46% of businesses using MFA for extra security, followed by the Netherlands at 41% and Switzerland at 38%.
Given the weaknesses of passwords, we’re thrilled to see more investment in MFA. We expect to see this trend continue, though more IT admins should mandate the use of MFA. Currently, only 15% of businesses require MFA by policy. With new solutions like LastPass MFA, we anticipate a lot of change to how MFA is used in the coming years.
New Regulations are a Driving Factor in Some Markets
Internationally, increased regulations appear to be a driving factor in password security efforts, especially in the EMEA and APAC regions. With a rise in global threats and data privacy concerns, governments and industries are enacting more regulations, directives and guidelines to protect the digital economy.
The EU General Data Protection Regulation (GDPR) and the Notifiable Data Breach (NDB) Scheme in Australia, have already had a significant impact on the market, and may start reflecting some of the trends we observe in this report.
Dive into the Report
The 3rd Annual Global Password Security Report explores many important insights into password security and authentication in the workplace, noting how companies of varying regions, industries, and sizes are performing.
From multifactor authentication to user directory integrations to policy usage, password sharing, mobile apps, password reuse and password overload, our report brings you the latest trends in access and authentication so you can make informed decisions to better protect your business.
Download the report today to see the complete results, as well as our recommendations to put these insights into action.