According to the latest report by IMARC Group titled, “Advanced Authentication Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the advanced authentication market reached a value of US$ 12.7 Billion in 2021. Looking forward, IMARC Group expects the market to grow at a CAGR of 13.6% during 2022-2027.
Advanced authentication refers to a framework that centralizes several authentication policies for access management. The verification process for advanced authentication requires the employment of numerous factors or credentials to gain authorization to a particular virtual or physical space. These solutions are deployed across numerous organizations for strengthening the existing security infrastructure. The authentication procedure involves the use of unique credentials, inherence-based variables and personal security questions to confirm the user’s identity. Some of the most commonly used verification factors include facial recognition, fingerprint scanning, iris recognition, security token, one-time password (OTP), Personal Identification Number (PIN), and behavioral analysis.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
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Global Advanced Authentication Market Trends:
The global market is primarily driven by a significant rise in the incidences of cyber-attacks and security breaches across numerous industries. This has facilitated the widespread adoption of advanced authentication solutions across several corporates, government offices, and banking, financial and insurance organizations for mitigating security risks and restricting authorized access. There has also been a considerable increase in the cases of online fraud on the global level, which is acting as another major growth-inducing factor. This is being facilitated by a significant rise in the number of mobile transactions, owing to the growing preference for online shopping and the increasing digitization across the banking sector. The market is further driven by the growing mobile workforce and the emerging trend of Bring Your Own Devices (BYOD) in the corporate sector. The adoption of mobility has led organizations to make a large collection of confidential data remotely accessible, which consequently increases data vulnerability and the chances of security transgression. Moreover, innovative and efficient modes of authentication, such as virtual smart cards and geo-fencing models based on GPS technology, are widely gaining prominence in the market to protect organizations from any form of security threat.
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Global Advanced Authentication Market 2022- 2027 Analysis and Segmentation:
Some of the major players operating in the industry include:
- FUJITSU LTD (FJTSY)
- Gemalto N. V (GTOMY)
- NEC Corporation (NEC1.F)
- CA Technologies (CA)
- Safran Identity and Security SAS
- Dell Technologies Inc. (DELL)
- RSA Security
- Lumidigm Inc (HID Global)
- Validisoft
- Pistolstar INC.
- Securenvoy(Shearwater Group)
- NetMotion Wireless Inc.
- CJIS Solutions
- AUTHASAS
- WideBand Corporation
- SECUREAUTH Corp., etc.
Breakup by Authentication Methods:
- Smart Cards
- Biometrics
- Mobile Smart Credentials
- User-Based Public Key Infrastructure
- Other Authentication Methods
Breakup by Deployment:
- On-Premise
- Cloud
Breakup by Solution:
- Single Factor Authentication
- Multi-Factor Authentication
Breakup by End-User Industry:
- Banking and Financial Services
- Healthcare
- Government
- Defense
- IT and Telecom
- Others
Breakup by Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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