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Password Policy Enforcement Software Market was valued at US$ 212.31 million in 2021 and is projected to reach US$ 426.46 million by 2028

May 27th, 2022 5:30 AM

According to our latest market study, titled “Password Policy Enforcement Software Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Deployment and Enterprise Size,” the market is projected to reach US$ 426.46 million by 2028 from US$ 212.31 million in 2021. It is expected to grow at a CAGR of 10.5% from 2021 to 2028.

A password blacklist is a list of passwords that users cannot use when creating a password. By stopping attackers from getting beyond a basic password login flow in the first place, a password blacklist can provide extra protection. Screening users’ passwords against a list of dictionary passwords and known hacked passwords is one of the most effective ways to improve network security. Hackers continue to use password weaknesses as a significant access point. Password policy has changed dramatically during the previous few years.

According to NIST password rules, using a password blacklist is now vital to network security. It used to take a long time for hackers to crack passwords using brute force methods. Attackers may make thousands of guesses each second. Using a list of the top 10,000 most often used passwords is not a barrier against this attack. The more passwords on a blacklist, the better. A well-designed system can check billions of passwords in milliseconds without impacting the user experience. It may also be good to divide the blacklist between passwords that have been disclosed in recent data breaches and those that are regularly found in cracking dictionaries. Users can manage even more service parts if they have both lists. Hence, increasing cyber-attack incidents are expected to propel the password policy enforcement software market over the next few years. It is also insufficient to rely on a blacklist that ignores aspects, such as “context” in terms of location, organization, and users. One can reduce hacking by tailoring the blacklist to specific people and incorporating pertinent usernames, email addresses, and name information.

Key Players Influencing the Market

  • Avatier
  • Hitachi ID Systems, Inc.
  • Netwrix Corporation
  • nFront Security, Inc.
  • safepass.me
  • Specops Software
  • Tools4ever (Password Complexity Manager (PCM))
  • Zoho Corp (ManageEngine)
  • JumpCloud Inc.
  • Enzoic.

 

North America is one of the most critical regions for adopting and growing new technologies due to favorable government policies to boost innovation, a substantial industrial base, and high purchasing power, especially in developed countries such as the US and Canada. The US is a prominent market for password policy enforcement software in several industries. The country consists of the maximum number of password policy enforcement software developers. Further, the COVID-19 pandemic forced companies to adopt work-from-home trends. The pandemic created an enormous challenge for businesses in North America to continue operating despite massive shutdowns of offices and other facilities. The changing nature of working has affected IT security. Therefore, organizations are witnessing an increased risk of breaches due to the extensive use of open-source software during remote working. Furthermore, the surge in digital traffic presented an opportunity for numerous online frauds, phishing attacks, denial of inventory, and ransomware attacks, contributing to the password policy enforcement software market growth.

Key Findings of Study

The password policy enforcement software market is analyzed on the basis of deployment and enterprise size. Based on deployment, the password policy enforcement software market is segmented into on-premises and cloud-based. The cloud-based segment led the password policy enforcement software market in 2020. Based on enterprise size, the password policy enforcement software market is further segmented into small and medium enterprises and large enterprises. The large enterprises segment led the password policy enforcement software market in 2020. Based on geography, the password policy enforcement software market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).

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 Answers that the report acknowledges:

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.

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