MRFR Press Release/Market Research Future published a half-cooked research report on the global passive authentication market.
Between the deployment segments, the on-premise segment is expected to have a greater market size than the cloud segment. The cloud segment is expected to grow at a 22.10% CAGR during 2023-2032. This is due to the advantages of cloud-based passive authentication solutions, such as cost-efficiency, scalability and high computing speed.
The key players in the passive authentication market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are NEC Corporation (Japan), IBM Corporation (US), Cisco Systems, Inc. (US), Gemalto (Netherlands), Fair Isaac Corporation (US), Dell Technologies (US), Experian PLC (Ireland), Equifax Inc. (US), Verint Systems (US), Nuance Communications, Inc. (US), Veridium Ltd. (US), OneSpan Inc. (US), Aware, Inc. (US), Jumio (US), and Mastercard Technologies (Canada).
The global market for passive authentication is expected to grow at a CAGR of 22.6% during the forecast period and reach $1351.3 million by 2023. The geographical analysis of passive authentication market is conductedfor North America, Europe, Asia-Pacific, the Middle East, Africa, and Latin America.
Among the regions mentioned, the market in North America is anticipated to have the largest market share during the forecast period. High demand from technologically advanced industries such as BFSI and Telecom and IT, and increasing adoption of biometrics, behavioral analytics, and mobile technology in North America are expected to boost the market size for passive authentication. In terms of market size, the market in Europe is expected to follow North America. The increasing demand for advanced authentication solutions among enterprises in Europe, and expansion of various US-based passive authentication software companies in Europe are the primary factors fueling the market growth. The market in Asia-Pacific is expected to have the fastest growth rate as the demand is projected to rise more than the global CAGR of 22.6% during the forecast period of 2018 to 2023.