Report : Asia Pacific Password Policy Enforcement Software Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Deployment (On-Premise and Cloud-Based) and Enterprise Size (Small and Medium Enterprises and Large Enterprises)
At 11.8% CAGR, the APAC Password Policy Enforcement Software Market is speculated to be worth US$ 92.54 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the APAC password policy enforcement software market was valued at US$ 42.27 million in 2021 and is expected to reach US$ 92.54 million by 2028, registering an annual growth rate of 11.8% from 2021 to 2028. Rising use of password blacklists or dictionary hacks and advancements in password policy enforcement software are the critical factors attributed to the market expansion.
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. 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. It is also insufficient to rely on a blacklist that ignores aspects such as "context" in terms of location, organization, and users. This may entail building a custom set of passwords to screen against, referred to as a dictionary. One can reduce being hacked by tailoring the blacklist to specific people and incorporating pertinent usernames, email addresses, and name information. A blacklist may be customized geographically by merely including data breaches from locations. Thus, the rising use of password blacklists will drive the password policy enforcement software market across the region.
On the contrary, security concern for enforced password complexity hurdles the growth of APAC password policy enforcement software market.
- Based on deployment, the APAC password policy enforcement software market is bifurcated into on-premise and cloud-based. The cloud-based segment held 67.2% market share in 2021, amassing US$ 28.39 million. It is projected to garner US$ 66.48 million by 2028 to expand at 12.9% CAGR during 2021–2028.
- Based on enterprise size, the APAC password policy enforcement software market is bifurcated into small and medium enterprises and large enterprises. The large enterprises segment held 68.1% market share in 2021, amassing US$ 28.77 million. It is projected to garner US$ 57.56 million by 2028 to expand at 10.4% CAGR during 2021–2028.
- Based on country, the APAC password policy enforcement software market has been categorized into China, India, Japan, South Korea, Australia, and Rest of APAC. Our regional analysis states that China captured 33.0% market share in 2021. It was assessed at US$ 13.95 million in 2021 and is likely to hit US$ 28.60 million by 2028, exhibiting a CAGR of 10.8% during the forecast period.
Key players dominating the APAC password policy enforcement software market are Hitachi ID Systems Inc., JumpCloud Inc., ManageEngine, Netwrix Corporation, nFront Security Inc., safepass.me, and Specops Software among others.
- In 2022, Hitachi ID Introduces Bravura Safe: New Enterprise Password Management Safe to Protect Decentralized Passwords Against the Top Cause of Cyberattacks.
- In 2021, Netwrix Announces Technology Partnership with Safetica.