Global Password Policy Enforcement Software Market
Dublin, June 27, 2022 (GLOBE NEWSWIRE) -- The "Global Password Policy Enforcement Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Deployment and Enterprise Size" report has been added to ResearchAndMarkets.com's offering.
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.
Increasing Internet services penetration, upgrading communication infrastructure, and improving data speed, and the surge in Internet and mobile user base are influencing various businesses to offer their services and products online, further asking end users to create different profiles on the online buying portals. Businesses are progressively implementing security measures such as monitored accounts to improve responsibility. Such a shift toward internet-based service offerings is driving the need for password policy enforcement software.
The password policy enforcement software market is becoming increasingly competitive, and the competitiveness of market players is based on the distinctiveness of the products they offer. Furthermore, many firms are attempting to meet the rising need for customized solutions to expand their shares in password policy enforcement software market.
Lately, the technology sector is witnessing significant growth in cloud-based solutions as they are time and cost-efficient. Due to these advantages, cloud-based solutions have attracted many end users. Moreover, key market players are offering cloud-based products in the market with the rising demand for cloud-based software.
Further, the internet infrastructure has matured in developed countries, allowing end users in both developed and developing countries to access cloud-based solutions. This factor is positively influencing the adoption of software in various industries. Moreover, due to incremental advancements in cloud computing, cloud-based solutions are experiencing significant growth. These factors are positively influencing the password policy enforcement software market.
The password policy enforcement software market is broadly segmented into five major regions - North America, Europe, APAC, MEA, and SAM. Countries, such as China, India, and Japan, are major contributors to the overall password policy enforcement software market growth of Asia Pacific. China has tightened its defense capabilities in response to the rising number of cyber-attacks. This is likely to increase the use of security solutions, to prevent illegal access to content positively influencing the password policy enforcement software market growth.
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 country for password policy enforcement software market.
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 are contributing to the password policy enforcement software market growth.
Key Topics Covered:
2. Key Takeaways
3. Research Methodology
4. Password Policy Enforcement Software Market Landscape
4.1 Market Overview
4.2 PEST Analysis
5. Password Policy Enforcement Software Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Instances of Hacking and Breaches
5.1.2 Implementation of Password Security Policy Framework across Organization
5.2 Market Restraints
5.2.1 Security Concern for Enforced Password Complexity
5.3 Market Opportunities
5.3.1 Rising Use of Password Blacklists or Dictionary Hacks
5.4 Future Trends
5.4.1 Advancements in Password Policy Enforcement Software
5.5 Impact Analysis of Drivers and Restraints
6. Password Policy Enforcement Software Market - Global Market Analysis
6.1 Global Password Policy Enforcement Software Market Overview
6.2 Global Password Policy Enforcement Software Market Forecast and Analysis
6.3 Market Positioning- Top Five Players
7. Password Policy Enforcement Software Market Analysis - By Deployment
7.2 Password Policy Enforcement Software, by Deployment (2020 and 2028)
8. Password Policy Enforcement Software Market - By Enterprise Size
8.2 Password Policy Enforcement Software, by Enterprise Size (2020 and 2028)
8.3 Small and Medium Enterprises (SMEs)
8.4 Large Enterprises
9. Password Policy Enforcement Software Market - Geographic Analysis
10. Password Policy Enforcement Software Market - COVID-19 Impact Analysis
11. Industry Landscape
11.1 Market Initiative
11.2 Merger and Acquisition
11.3 New Development
Hitachi ID Systems Inc.
nFront Security Inc.
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