Global Advanced Authentication Market in Travel and Transport Logistics Industry - Growth, Trends and Forecast (2018 - 2023)
The global advanced authentication market in travel and transport logistics industry is expected to grow at a CAGR of 11.08%, over the forecast period (2018-2023). The scope of the report is limited to products offered by major players including providers of Smartcards, Biometrics, Mobile Smart Credentials, Tokens, User Based Public Key Infrastructure. While the regions considered in the scope of the report include United States, Canada, United Kingdom, Germany, France, Italy, China, India, Japan and the rest of the world.
Security threats have been increasing continuously. Hackers are finding new ways to steal the data while new viruses are being developed to steal sensitive information from enterprises and individual users. With most of the users now preferring to perform transactions online, it becomes imperative of the organization to deploy authentication solutions which help in convenient and secure access. Every organization needs a reliable security system as a way to confirm the truth of something or the identity of a person. The basic or traditional password method is too often breached, copied or shared, thereby exposing data to theft or malicious intrusions.
Increasing Number of Threats and Related Costs Emphasize the Need for Advanced Authentication Services
The parameters contributing to the growth of the advanced authentication market are the increasing security threats these days and the need to safeguard oneself from these threats. Supportive government regulations and the ever-expanding usage of advanced authentication are also the factors responsible for the rising demand for this particular market. The rising number of cyber-attacks are leading to loss of secured data is increasing the demand for advanced authentication to access these vital information. Investment and spending in this industry witnessed a robust growth in the recent past. The rising demand from the consumers is fueling the growth in the number of digital transactions, which further creates potential opportunities for hackers to access sensitive data and logistics within a particular organization. This is expected to increase the exposure to cyber-attacks, which is likely to boost the market growth.
Biometrics have been on the Rise Owing to Increased Adoption
Biometrics analyze and verify/authenticate individuals based on human physical characteristics such as fingerprints, eye retinas, and irises, palm, speech and voice among others. This method of authentication has been widely adopted owing to the key advantages it offers such as non-repudiation, non-transferable, not identifiable nature thus providing a high level of protection against fraud. The technology found successful implementation across various end-users such as forensics, governments among others. Moreover, the widespread availability of fingerprint sensors in affordable mobile devices and government national ID programs have been instrumental in increasing the awareness and adoption of this technology.
Asia-Pacific is Expected to Register Highest Growth Rate
The North America holds the major share in the market. In North America, the United States dominated the advanced authentication market in Travel and transport logistics industry, followed by Canada. The Asia Pacific is expected to register the highest growth rate over the forecast period. The demand for mobile transactions is increasing in this region, wherein data, such as location and personal details, are logged by the companies in order to provide personalized suggestions of diverse products. To secure it, these organizations are utilizing biometric or OTP to confirm the identity to mitigate the duplicity, fake, and forge transaction, which is likely to bolster the market growth.
Key Developments in the Market
February 2018 - Fujitsu Ltd., earned a deal to provide Customer Contact Pint Platform to Shizuoka Bank. The deal is expected to enhance the visibility of Finplex, Fujitsu’s digital financial solution, in the regional market.
January 2018 - Gemalto launched its first biometric EMV card into the market. The company highlighted the features of on-card storage technology used to store sensitive biometric information with maximum security. The launch is expected to increase the company's presence in the contactless payments market.
Major Players: FUJITSU LTD, GEMALTO N. V, NEC CORPORATION, CA TECHNOLOGIES, 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, AND SECUREAUTH, amongst others.
Reasons to Purchase this Report
Current and future advanced authentication market in travel and transport logistics industry outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identify the latest developments, market shares and strategies employed by the major market players.
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