Password Policy Enforcement Software Market Outlook and Strategic Insights by 2028

Historic Data: 2019-2020 | Base Year: 2021 | Forecast Period: 2022-2028

Password Policy Enforcement Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Deployment (On-Premise and Cloud-Based) and Enterprise Size (Small and Medium Enterprises and Large Enterprises)

Report Date : Apr 2022
Report Code : TIPRE00013600

Category : Technology, Media and Telecommunications
Status : Published

Available Report Formats :
No. of Pages : 129

Page Updated: Jun 2024

Analysis Strategic Insights Market Drivers Regional Insights Report Scope Recent Developments FAQs

AI overview of Password Policy Enforcement Software Market

The Password Policy Enforcement Software Market is poised for significant growth, projected to reach a market size of US$ 426.46 million by 2028, up from US$ 212.31 million in 2021, reflecting a robust CAGR of 10.5% from 2021 to 2028. This growth is driven by increasing cybersecurity threats and the rising need for stringent regulatory compliance. Organizations are increasingly adopting cloud-based solutions and automated password management systems to enhance security. Key trends include the integration of zero-trust security models and a shift towards passwordless authentication methods. As businesses navigate the complexities of IT infrastructures, the demand for effective password policy enforcement will continue to rise, shaping the future of cybersecurity solutions.

The 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. It is expected to grow at a CAGR of 10.5% from 2021 to 2028.

Password policy enforcement software solutions ensure that strong passwords are used across all platforms in a company. Organizations install password policy enforcement software to make related users to create passwords that meet company password policy restrictions in terms of password complexity, symbols, numbers, uppercase and lowercase letters, character minimums, and maximums. The restrictions also ensure that passwords do not contain commonly used words, phrases, or passwords, company-specified blacklisted words, or passwords from known hacking dictionaries.

Several digital suppliers have entered the password policy enforcement software market with simplified offerings for various industrial verticals. For instance, Netwrix Corporation provides simplified password policy enforcement software that meets even the most complicated password policy needs by allowing users, domain groups, and organizational units to specify up to 256 local and domain password rules.

North America is one of the most important markets for the password policy enforcement software market. In addition, continuous improvements in technologies in the domains of analytics, cloud, and BYOD trends are projected to provide the regional market with a major boost. Furthermore, an increase in the frequency of cyber-attacks has prompted concerns about password security, contributing to the password policy enforcement software market growth.

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Password Policy Enforcement Software Market: Strategic Insights

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Impact of COVID-19 Pandemic on Password Policy Enforcement Software Market

The huge spread of SARS-CoV-2 urged governments of different countries to impose strict restrictions on the movement of vehicles and humans. The consequent travel bans, mass lockdowns, and business shutdowns enacted by governments affected economies and industries in various countries, especially in 2020. The lockdown imposition also reduced the production of commodities, goods, and services. On the contrary, the COVID-19 pandemic contributed to the growth of the password policy enforcement software market in 2020, as millions of employees were asked to work remotely by their companies. Following such standard protective measures has resulted in growth in the usage of third-party networks, digital platforms, and personal computing devices. Such network connectivity solutions increase the risks of data breaches and other malware. Due to the increased risk of cybercrimes, enterprises look for password policy enforcement software to detect and manage any abnormal behavior in the networks.

Market Insights – Password Policy Enforcement Software Market

Advancements in Password Policy Enforcement Software Market

While there is a growing trend toward alternate authentication methods, passwords are finding a solution to "co-exist," and passwords are necessary for the foreseeable future. Before sophisticated solutions can be easily deployed, existing passwords must be supplemented with newer standards, such as biometrics and multi-factor authentication. The fact that passwords are not strong enough to stand alone does not undermine their importance in terms of security. So, even if passwords are on their way out, businesses should stick to their policies and ensure their staff practice password hygiene. Passwords are used to get access to technology. Due to technologies, such as Apple's Touch ID, the password-less movement has reached a technological tipping point: technology is progressing, and customers have been groomed for biometric authentication. The benefits of password-less setups go beyond physical form factors. Users may identify themselves using their face, touch, or voice, but systems can now include spatial identifiers. Behavioral analysis is more difficult to compromise and less inconvenient for the user.

Furthermore, users will always respond negatively to unfamiliarity or perceived extra costs when a new security system is implemented. However, two-factor and multi-factor authentication are becoming more popular, and they are paying off for those who use them. Thus, advancements in password policy enforcement software are expected to drive the password policy enforcement software market growth in the near future.

Deployment-Based Insights

Based on deployment type, the password policy enforcement software market can be bifurcated into on-premises and cloud-based. There are numerous considerations to consider in today's enterprise IT world before deciding whether a cloud infrastructure is a perfect fit. On the other hand, many businesses are unable to make the transition to the cloud, relying instead on their tried-and-true legacy and on-premise systems and software to conduct business.

Enterprise Size-Based Insights

Based on enterprise size, the password policy enforcement software market is categorized into small & medium-size enterprises and large enterprises. Small and medium enterprises (SMEs) are companies with revenues, assets, or personnel that fall below a particular threshold. Small and medium enterprises (SMEs) are defined differently in each country. SMEs play a vital role in the economy, despite their small size. They outnumber major corporations by a substantial margin, employ a huge workforce, and are entrepreneurial, contributing to the shaping of innovation.

Password Policy Enforcement Software Market Regional Insights

The regional trends and factors influencing the Password Policy Enforcement Software Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Password Policy Enforcement Software Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

password-policy-enforcement-software-market-global-geography

Get the Regional Specific Data for Password Policy Enforcement Software Market

Password Policy Enforcement Software Market Report Scope

Report Attribute	Details
Market size in 2021	US$ 212.31 Million
Market Size by 2028	US$ 426.46 Million
Global CAGR (2021 - 2028)	10.5%
Historical Data	2019-2020
Forecast period	2022-2028
Segments Covered	By Deployment On-Premise and Cloud-Based By Enterprise Size Small and Medium Enterprises and Large Enterprises
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	ManageEngine Avatier Hitachi ID Systems Inc. Netwrix Corporation nFront Security Inc. safepass.me Specops Software Tools4ever JumpCloud Inc.

Password Policy Enforcement Software Market Players Density: Understanding Its Impact on Business Dynamics

The Password Policy Enforcement Software Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Password Policy Enforcement Software Market are:

ManageEngine
Avatier
Hitachi ID Systems Inc.
Netwrix Corporation
nFront Security Inc.

Disclaimer: The companies listed above are not ranked in any particular order.

password-policy-enforcement-software-market-cagr

Get the Password Policy Enforcement Software Market top key players overview

Players operating in the password policy enforcement software market are mainly focused on developing advanced and efficient products.

In 2021, Netwrix acquired PolicyPak to extend its offering with endpoint security. This acquisition is anticipated to strengthen Netwrix's product portfolio and extend its security and control over privileged accounts to desktops in the coming years. PolicyPak and Netwrix together offer solutions to organizations for security against cyberattacks and hackers.

In Sep 2020, ManageEngine announced that it is ADSelfService Plus now supports multi-factor authentication to safeguard organizations from any unauthorized access to their data.

Global Password Policy Enforcement Software Market-Companies Profiles

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.

Frequently Asked Questions

Which enterprise size is expected to dominate the market in the forecast period?

The global password policy enforcement software market was dominated by the large enterprises segment in 2020. Large enterprises are known to invest in innovative and latest technologies to operate their business effectively. With the growing capabilities of Password Policy Enforcement Software market tools across various industries, adoption of these tools has gained traction over the past few years. Large enterprises are utilizing various analytical tools such as Password Policy Enforcement Software, to effectively streamline the business operations.

Which are the major companies in the password policy enforcement software market?

The major companies in password policy enforcement software market includes Enzoic; Avatier; Specops Software; Safepass.me; and Zoho Corp (MANAGEENGINE).

Which region has dominated the password policy enforcement software market?

In 2020, North America led the market with a substantial revenue share, followed by Europe and Asia Pacific. Asia Pacific is a prospective market for password policy enforcement software market manufacturers.

Which deployment type is expected to dominate the market in the forecast period?

The global password policy enforcement software market was dominated by the cloud-based deployment segment in 2020. The key element attributed to the segmental growth is the high availability of cloud-based password policy enforcement software to keep vital business systems operating safely despite single component failures. Due to ongoing monitoring, geo-redundancy, and failover mechanisms, the cloud-based data and apps are ready to serve the workforce.

What are reasons behind password policy enforcement software market growth?

Businesses are progressively implementing security measures such as monitored accounts to improve responsibility. Such shift toward internet-based service offerings is driving the need for password policy enforcement software. Further, the need to comply with tight compliance standards and the rising risk of data theft in the BFSI, healthcare, and public sectors, among others, is further driving the password policy enforcement market.

What are market opportunities for password policy enforcement software market?

Rising use of password blacklist or dictionary hack provide the opportunity for the password policy enforcement software solution providers. 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.

Research Manager

Ankita Mittal

Manager,
Market Research & Consulting

Ankita is a dynamic market research and consulting professional with over 8 years of experience across the technology, media, ICT, and electronics & semiconductor sectors. She has successfully led and delivered 100+ consulting and research assignments for global clients such as Microsoft, Oracle, NEC Corporation, SAP, KPMG, and Expeditors International. Her core competencies include market assessment, data analysis, forecasting, strategy formulation, competitive intelligence, and report writing.

Ankita is adept at handling complete project cycles—from pre-sales proposal design and client discussions to post-sales delivery of actionable insights. She is skilled in managing cross-functional teams, structuring complex research modules, and aligning solutions with client-specific business goals. Her excellent communication, leadership, and presentation abilities have enabled her to consistently deliver value-driven outcomes in fast-paced and evolving market environments.

What are the Password Policy Enforcement Software Market report deliverables?

Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
PEST and SWOT Analysis
Market Size Value / Volume - Global, Regional, Country
Industry and Competitive Landscape
Excel Dataset

Password Policy Enforcement Software Market Report Snapshots

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