The North America password policy enforcement software market is expected to grow from US$ 96.39 million in 2021 to US$ 187.64 million by 2028; it is estimated to grow at a CAGR of 10.0% from 2021 to 2028.
Most businesses need their staff to use a key or key card to access their premises. Passwords are the keys that allow employees to access their company\'s network in different ways. Development of good rules and procedures is required to prevent illegal access to physical office keys or card readers. The same may be said about good password policies for businesses. There are crucial aspects of a robust password security framework that may be put in place in the organization. For instance, enforcing complexity restrictions is a solid initial step in preventing brute force hacking attempts. It may be necessary for all users to generate passwords that do not include their legal name or username. Combinations of characters, digits, and upper- and lower-case letters are also used in strong passwords. Similarly, setting a minimum character length for passwords inside the business might improve their security. Eight-character password is a usual norm. However, 14-character password is becoming common. Further, domain administrators\' accounts need to be secure. Passwords (with a minimum 15 characters) are easier to remember and input in these situations, but they are difficult to crack. Thus, the rising implementation of a password security policy framework across organizations drive the password policy enforcement software market growth.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America password policy enforcement software market in the coming years. The market is expected to grow at a good CAGR during the forecast period.
North America Password Policy Enforcement Software Market Revenue and Forecast to 2028 (US$ Million)
North America Password Policy Enforcement Software Market Segmentation
The North America password policy enforcement software market is segmented on the basis of deployment, enterprise size, and country. Based on deployment, the market is bifurcated into on-premise and cloud-based. The cloud-based segment dominated the market in 2021. Based on enterprise size, the market is bifurcated into small and medium enterprises and large enterprises. The large enterprises segment dominated the market in 2021. Based on country, the North America password policy enforcement software market is segmented into the US, Canada, and Mexico. The US dominated the market in 2021.
Avatier, Enzoic, Hitachi ID Systems Inc., JumpCloud Inc., ManageEngine, Netwrix Corporation, nFront Security Inc., safepass.me, Specops Software, and Tools4ever are among the leading companies in the North America password policy enforcement software market.
At 10.0% CAGR, the North America Password Policy Enforcement Software Market is speculated to be worth US$ 187.64 million by 2028, says The Insight Partners
According to The Insight Partners’ research, the North America password policy enforcement software market was valued at US$ 96.39 million in 2021 and is expected to reach US$ 187.64 million by 2028, registering an annual growth rate of 10.0% from 2021 to 2028. Rising instances of hacking and breaches and implementation of password security policy framework across organization are the critical factors attributed to the market expansion.
Strong passwords are the first line of defense for safeguarding any company's data and client information. However, many businesses have lax or non-existent password procedures, placing them in danger of data breaches. Every day, cyber-attacks become increasingly prevalent. According to the Thales Data Threat Report for 2021, half of the US businesses (45%) experienced a data breach in the previous year (2020). However, this figure could be larger due to the possibility of previously unreported breaches. This decreased from last year when 65% of businesses were breached. Furthermore, a study conducted by Comparitech looked at the number of data breaches encountered by companies in each state and the number of records exposed. Between 2005 and 2020, California was the most vulnerable, with 1,777 breaches and 5.6 billion records exposed. New York came in second with 863 violations and 295 million records exposed. With 819 breaches and 294 million records exposed, Texas took third place. Furthermore, hackers gained access to the personal information of millions of Facebook users due to a data breach. The user's name, date of birth, current city, and wall postings were included. A white hat security group found the vulnerability in 2021, and it has been active since 2019. The 2021 Facebook data breach is still fresh in many people's minds. Symantec, a cyber-security outfit, was the one who brought it to light. Millions of personal information were exposed in the database, including phone numbers, Facebook IDs, names, birthdays, and even email addresses. However, because 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. Thus, rising instances of hackers and breaches drive the password policy enforcement market across the region.
On the contrary, security concern for enforced password complexity hurdles the growth of North America password policy enforcement software market.
Based on deployment, the North America password policy enforcement software market is bifurcated into on-premise and cloud-based. The cloud-based segment held 70.3% market share in 2021, amassing US$ 67.77 million. It is projected to garner US$ 141.61 million by 2028 to expand at 11.1% CAGR during 2021–2028.
Based on enterprise size, the North America password policy enforcement software market is bifurcated into small and medium enterprises and large enterprises. The large enterprises segment held 59.0% market share in 2021, amassing US$ 56.83 million. It is projected to garner US$ 103.88 million by 2028 to expand at 9.0% CAGR during 2021–2028.
Based on country, the North America password policy enforcement software market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 72.7% market share in 2021. It was assessed at US$ 70.07 million in 2021 and is likely to hit US$ 139.04 million by 2028, exhibiting a CAGR of 10.3% during the forecast period.
Key players dominating the North America password policy enforcement software market are Avatier, Enzoic, Hitachi ID Systems Inc., JumpCloud Inc., ManageEngine, Netwrix Corporation, nFront Security Inc., safepass.me, Specops Software, and Tools4ever among others.
In 2021, Netwrix acquires PolicyPak to extend its offering with endpoint security. In 2021, Outpost24 acquires Specops for enhanced user security and secures further funding to continue growth.
TABLE OF CONTENTS
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Password Policy Enforcement Software Market ? By Deployment
1.3.2 North America Password Policy Enforcement Software Market ? By Enterprise Size
1.3.3 North America Password Policy Enforcement Software Market ? By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Password Policy Enforcement Software Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.2.1 North America: PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America Password Policy Enforcement Software Market ? Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Instances of Hacking and Breaches
5.1.2 Rising 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 ? North America Analysis
6.1 North America Password Policy Enforcement Software Market Overview
6.2 North America Password Policy Enforcement Software Market Forecast and Analysis
7. North America Password Policy Enforcement Software Market Analysis ? By Deployment
7.1 Overview
7.2 North America Password Policy Enforcement Software Market, by Deployment (2020 and 2028)
7.3 Cloud-based
7.3.1 Overview
7.3.2 Cloud-based: Password Policy Enforcement Software Market? Revenue and Forecast to 2028 (US$ Million)
7.4 On-Premise
7.4.1 Overview
7.4.2 On premise: Password Policy Enforcement Software Market? Revenue and Forecast to 2028 (US$ Million)
8. North America Password Policy Enforcement Software Market Analysis ? By Enterprise Size
8.1 Overview
8.2 North America Password Policy Enforcement Software Market, by Enterprise Size (2020 and 2028)
8.3 Small and Medium Enterprises (SMEs)
8.3.1 Overview
8.3.2 Small and Medium Enterprises: Password Policy Enforcement Software Market? Revenue and Forecast to 2028 (US$ Million)
8.4 Large Enterprises
8.4.1 Overview
8.4.2 Large Enterprises: Password Policy Enforcement Software Market? Revenue and Forecast to 2028 (US$ Million)
9. North America Password Policy Enforcement Software Market ? Country Analysis
9.1 Overview
9.1.1 North America: Password Policy Enforcement Software Market- by Country
9.1.1.1 US: Password Policy Enforcement Software Market ? Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 US: Password Policy Enforcement Software Market- by Deployment
9.1.1.1.2 US: Password Policy Enforcement Software Market- By Enterprise Size
9.1.1.2 Canada: Password Policy Enforcement Software Market ? Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Canada: Password Policy Enforcement Software Market- by Deployment
9.1.1.2.2 Canada: Password Policy Enforcement Software Market- By Enterprise Size
9.1.1.3 Mexico: Password Policy Enforcement Software Market ? Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 Mexico: Password Policy Enforcement Software Market- by Deployment
9.1.1.3.2 Mexico: Password Policy Enforcement Software Market- By Enterprise Size
10. Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 Merger and Acquisition
10.4 New Development
11. Company Profiles
11.1 ManageEngine
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Avatier
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Hitachi ID Systems Inc.
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Netwrix Corporation
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 nFront Security Inc.
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 safepass.me
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Specops Software
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Tools4ever
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 JumpCloud Inc.
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 Enzoic
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Glossary
LIST OF FIGURES.
Figure 1. North America Password Policy Enforcement Software Market Segmentation
Figure 2. North America Password Policy Enforcement Software Market Segmentation - By Country
Figure 3. North America Password Policy Enforcement Software Market Overview
Figure 4. North America Password Policy Enforcement Software Market, By Deployment
Figure 5. North America Password Policy Enforcement Software Market, By Country
Figure 6. North America Password Policy Enforcement Software Market Ecosystem Analysis
Figure 7. Expert Opinion
Figure 8. North America Password Policy Enforcement Software Market Impact Analysis of Drivers and Restraints
Figure 9. North America Password Policy Enforcement Software Market, Forecast and Analysis (US$ Mn)
Figure 10. North America Password Policy Enforcement Software Market Revenue Share, by Deployment (2020 and 2028)
Figure 11. North America Cloud-based: Password Policy Enforcement Software Market- Revenue and Forecast to 2028 (US$ Million)
Figure 12. North America On premise: Password Policy Enforcement Software Market- Revenue and Forecast to 2028 (US$ Million)
Figure 13. North America Password Policy Enforcement Software Market Revenue Share, by Enterprise Size (2020 and 2028)
Figure 14. North America Small and Medium Enterprises: Password Policy Enforcement Software Market- Revenue and Forecast to 2028 (US$ Million)
Figure 15. North America Large Enterprises: Password Policy Enforcement Software Market- Revenue and Forecast to 2028 (US$ Million)
Figure 16. North America: Password Policy Enforcement Software Market, by Key Country - Revenue (2020) (US$ Million)
Figure 17. North America: Password Policy Enforcement Software Market Revenue Share, by Country (2020 and 2028)
Figure 18. US: Password Policy Enforcement Software Market - Revenue and Forecast to 2028 (US$ Million)
Figure 19. Canada: Password Policy Enforcement Software Market - Revenue and Forecast to 2028 (US$ Million)
Figure 20. Mexico: Password Policy Enforcement Software Market - Revenue and Forecast to 2028 (US$ Million)
