Password Policy Enforcement Software Market Will Rise at A CAGR of 10.5%; Industry Size, Demand & Trends Analysis 2028

The key factors fueling the growth of the password policy enforcement software market include rising instances of hacking and breaches.

NEW YORK, UNITED STATES, January 25, 2023 /EINPresswire.com/ -- The Insight Partners has announced the addition of Password Policy Enforcement Software Market Size, Share, Growth, Demand, Industry Trends and Forecast to 2028 COVID-19 Impact and Global Analysis by Deployment and Enterprise Size, the market size 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. This research report categorizes the global Password Policy Enforcement Software Market Services market by companies, region, type and end-use industry. An extensive elaboration of the market strategy of the industry players in the precision of import/export consumption, supply and demand. The study starts with an introduction about the company/manufacturers profiling market strategic concept behind business using methods to assess and analyze market.

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Report Scope:

Market Size Value inUS$ 212.31 million in 2021

Market Size Value by US$ 426.46 million by 2028

Growth rate CAGR of 10.5% from 2021 to 2028.

Forecast Period: 2021- 2028

Base Year: 2021

No. of Pages: 129

No. of Tables:56

No. of Charts & Figures: 71

Historical data available: Yes

Leading Players In The Global Password Policy Enforcement Software Market are ManageEngine, Avatier, Hitachi ID Systems Inc., Netwrix Corporation, nFront Security Inc., safepass.me, Tools4ever, JumpCloud Inc., and Enzoic.

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.

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Many firms attempting to meet The National Institute of Standards and Technology (NIST) 800-63b password requirements choose to find compromised passwords by manually comparing lists acquired from the Internet. However, as password breaches occur regularly, businesses want an automated procedure that compares all active directory credentials to stolen passwords. A manual process that is changed every quarter or whenever IT has time. For instance, Enzoic for active directory offers continuous password monitoring, which uses Enzoic's constantly updated database of billions of compromised credentials every day to screen an organization's existing passwords automatically.

Enzoic secures password comparisons by only providing a partial password hash, never sending entire passwords or hashes. Enzoic uses human and machine intelligence to find new password breaches and exposes. The threat research team and automated procedures operate round the clock, gathering information from Dark Websites and forums, the public Internet, and otherwise inaccessible private sources. Thus, rising instances of hackers and breaches drive the password policy enforcement software market growth.

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This report covers the current scenario and growth prospects of Global Password Policy Enforcement Software Market for the period 2021 to 2028. The study is a professional and in-depth study with around no. of tables which provides statistics of actual scenario of industry and acts as valuable guide to direction companies and individuals interested in the domain.

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

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 resulted in the reduced production of commodities, goods, and services. On the contrary, the COVID-19 pandemic contributed significantly 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, contributing to the password policy enforcement software market growth.

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