Advanced Authentication Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026
The global advanced authentication market reached a value of US$ 11.1 Billion in 2020. Advanced authentication is a verification approach that requires the presentation of multiple factors for security validation. On the basis of successful verification of these factors, an individual is authorized to access a particular virtual or physical space. The verification factors can either be a possession, knowledge or inherence-based variables such as a fingerprint, retinal scan, Personal Identification Number (PIN), password, security question or a One Time Password (OTP) which are exclusive to the user’s knowledge. An advanced authentication system is configured through a database or an application server that emphasizes on protecting organizations and business units from security threats such as hacking, identity theft and online frauds. Looking forward, IMARC Group expects the global advanced authentication market to reach a value of US$ 24.10 Billion by 2026, exhibiting a CAGR of 13.80% during 2021-2026.
The increasing number of cyber-attacks and security breaches in various sectors is the key factor driving the global market. This, coupled with a significant rise in online transactions, has contributed positively to the market growth. An increased number of virtual transactions despite several cases of online frauds and unauthorized access has led to an imperative need for advanced authentication systems. Furthermore, technological innovations such as geo-fencing models based on GPS technology has provided users with an effective tool to track movements in a particular area and contain unauthorized access. Herein, verification strategies are specified by users, thus restricting access to any unauthorized source. Other factors such as the increasing rate of technological penetration and rising number of cloud and datacenter users have further driven this market.
IMARC Group’s latest report provides a deep insight into the global advanced authentication market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the global advanced authentication market in any manner.
Historical, Current and Future Market Trends
Market Breakup by Authentication Methods:
Mobile Smart Credentials
User-Based Public Key Infrastructure
Other Authentication Methods
Market Breakup by Deployment:
Market Breakup by Solution:
Single Factor Authentication
Market Breakup by End-User Industry:
Banking and Financial Services
IT and Telecom
Market Breakup by Region:
Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being Fujitsu Ltd, Gemalto N. V, NEC Corporation, CA Technologies (Broadcom Inc.), Safran Identity and Security SAS, Dell Technologies Inc. (RSA Security), Lumidigm Inc (HID Global), Validisoft, Pistolstar, Securenvoy (Shearwater Group), NetMotion Wireless, CJIS Solutions, AUTHASAS, WideBand Corporation, SECUREAUTH, etc.
Key Questions Answered in This Report:
How has the global advanced authentication market performed so far and how will it perform in the coming years?
What are the key regional markets in the global advanced authentication industry?
What has been the impact of COVID-19 on the global advanced authentication industry?
What is the breakup of the market based on the authentication methods?
What is the breakup of the market based on the deployment?
What is the breakup of the market based on the solution?
What is the breakup of the market based on the end-user industry?
What are the various stages in the value chain of the global advanced authentication industry?
What are the key driving factors and challenges in the global advanced authentication industry?
What is the structure of the global advanced authentication industry and who are the key players?
What is the degree of competition in the global advanced authentication industry?
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