|CA Technologies (U.S.)|
|IBM Corporation (U.S.)|
|HP ESSN (U.S.)|
|CSC BSS (India)|
|Oracle Corporation (U.S.)|
|MasterCard Inc. (U.S.)|
|Atos Corporation (France)|
|Versasec AB (Sweden)|
|Gemalto (the Netherlands)|
|Datacard Group (U.S.)|
|Market Driving Forces|
|The increasing security threats these days and BYOD (Bring Your Own Device) policy are the major factors that are driving the global advanced authentication market.|
Advanced Authentication Market Overview:Most of the organizations of the world are undergoing major threats like data breaches and security concerns. The advanced authentication market is expected to witness excellent growth in the global period that will begin in 2018 and ends in the future year - 2030. The advanced authentication market is witnessing a reliable and significant increase in the users opting for online transactions and further mounting the security threats. These can harm and damage a huge quantum of data that is more than critical for the global market. For their financial transactions, the customers have a larger level of convenience and trust for online transactions. In countries like India, belonging to the APAC region, digital transactions rose to a 400-1000% increase after demonetization in 2018. The advanced authentication market is estimated to grow at a CAGR of 11.70% during the forecast period 2022-2030.COVID 19 Analysis:The global pandemic is bringing a change in the way organizations work and also are accelerating the change. This is creating issues for the businesses to reduce their work pace. Also, this has an impact on the working as due to the lockdown, the companies are shifting to the work-from-home and virtual modes. Hence, the demand for authentication solutions has decreased in the market. Also, the market is facing a lot of difficulties to cater to the demand and disrupt the supply chain mechanism from the end of the global market players.
However, the governments are increasing on their spending the development of these solutions and services. The government is working on the availability of the regulations related to this market which will positively impact the growth of the market by the end of the global forecast period. Also, the key market players are working on strategies that will help the market in the research and development areas finally enhancing their product availability and portfolios. Advanced Authentication Market Dynamics Drivers:The global advanced authentication market renders its services to both on-premises and cloud-based solutions. This targets a larger audience segment by catering to their demands by providing amazing services. Also, the demand and wide-scale adoption of these are playing a major role in helping the market make its way for growth by the end of the global forecast period. Mainly, the organizations that witness threats in the form of hacking and data leaks have a major role to demand these authenticated solutions and services. Restraints:Many organizations and other market end-users are not aware of the developed and improved authentication methods that are existing. Also, some of the methods used for authentication like biometrics, tokens, and smartcards are expensive, and hence, the companies need to especially allocate their budget for these services that are reliable in the long run. Also, there is increased pressure on the employees to have a higher degree of access to sensitive information from the enterprises’ side. Opportunities:The market solutions are pushing for increased adoption of mobility. Also, the enterprises are understanding this as a critical step that will help in strengthening the growth strategy of the organization that is likely to help the market grow as per the expected CAGR rate by the end of the global forecast period. Value-Chain Analysis:There are a lot of authentication-related threats that are posing as wide and long-term threats for organizations. Hackers are always on the lookout for opportunities that helps them steal data and take utmost advantage of the vulnerabilities. There are a lot of new users in the market that have a larger preference and bent towards online transactions. This is not only making the organizations take the necessary precautions but also pushing them to opt for the widespread deployment of authentication solutions that are a combination of convenience and secured access. The global market has a lot of benefits in store in terms of solutions that provide the security cover and helps them rely on online transactions. Market Segmentation:The advanced authentication market has been divided all across the globe based on solution, product, deployment, and end-users.
Based on the Solution:The advanced authentication market has been divided all across the globe based on solutions into multi-factor authentication and single-factor authentication. Single-factor authentication helps in securing a network system that helps in identifying users’ requests. Multi-factor authentication helps in providing access to a larger network as they have more than two credentials.
Based on the Product:The advanced authentication market has been divided all across the globe based on product into services, hardware, and software. Hardware covers smart cards, biometrics, and security tokens. Biometrics are used for facial scans, IRIS scans, and fingerprints.
Based on the Deployment:The advanced authentication market has been divided all across the globe based on deployment into cloud basis and on-premise basis.
Based on the End-Users:The advanced authentication market has been divided all across the globe based on end-users into the retail sector, government sector, BFSI sector, and engineering and utility sector.
Advanced Authentication Market Regional Analysis:The advanced authentication market has been divided all across the globe based on region into European region, North American region, Asia-Pacific region, Latin American region, and the Middle East and African region. The largest market share in the advanced authentication market is held by the North American region owing to well-developed digital infrastructure. Giant countries like the US and Canada spend huge digital network platforms which drive the demand for the advanced authentication market.
The second-largest market share in the advanced authentication market is held by the Asia-Pacific region. This region is the fastest-growing and highly populous region. The presence of countries like India and China in this region boosts the demand for an advanced authentication market.
The third-largest market share in the advanced authentication market is held by the European region. This region also has a developed digital infrastructure system which increases the demand for advanced authentication market in this region.
The Latin American region and the Middles East and African region also show positive growth towards the advanced authentication market. These regions are still at the developing stage and hence contributing huge funds in building digital infrastructure.
These major key players use various strategies to sustain their market position in the advanced authentication market in the global market by collaborating, by going for mergers, and acquisitions, establishing a partnership, developing a new product line, setting up a new joint venture, innovation in the existing product, developing a new production process, and many others to expand their customer base in the untapped market of the advanced authentication all across the globe.
This global advanced authentication market research report contains factors that drive the growth of the advanced authentication market in the global market along with the factors that restrict the growth of the advanced authentication market in the global market. The opportunities available for the growth of the advanced authentication market during the forecasted period are mentioned. The impact of COVID 19 on the sales revenue of the advanced authentication market all across the globe is mentioned. The future growth rate of the advanced authentication market during the forecasted period is estimated and mentioned.
Intended Audience:Database solutions, banks, IT enablers, cloud providers, software developers, testing, and many others.
|Market Size||36.4 Billion (2022-2030)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Solution, by Product|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||CA Technologies (U.S.), IBM Corporation (U.S.), HP ESSN (U.S.), CSC BSS (India), Oracle Corporation (U.S.), MasterCard Inc. (U.S.), Atos Corporation (France), Versasec AB (Sweden), Gemalto (the Netherlands), Datacard Group (U.S.)|
|Key Market Opportunities||Cyber-criminal activities are increasing such as hacking of identity badges, and numeric pins, resulted in developing authentication techniques such as OTP (one-time password) authentication, phone-based authentication, and biometrics. These factors resulted to boost the growth of the global advanced authentication market.|
|Key Market Drivers||The increasing security threats these days and BYOD (Bring Your Own Device) policy are the major factors that are driving the global advanced authentication market.|
The industries that make use of advanced authentication are Utilities, BFSI, Retail, Government, and others.
Cyber-criminal activities that are rising in number include numeric pins and hacking of identity badges, among others.
The anticipated growth rate of the market in the coming years is 11.70%.
Gemalto (the Netherlands), HP ESSN (U.S.), Versasec AB (Sweden), Oracle Corporation (U.S.), MasterCard Inc. (U.S.), IBM Corporation (U.S.), CA Technologies (U.S.), Datacard Group (U.S.), CSC BSS (India), Atos Corporation (France), are making their presence felt in the global market.
Solution, deployment and industries are the primary segments considered for the purpose of the market study.