DUBLIN--(BUSINESS WIRE)--The "Advanced Authentication Market - Growth, Trends and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The global advanced authentication market was valued at USD 8.6 billion and is estimated to register a CAGR of 13.4% over the forecast period (2019-2024).
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 or copied/shared, thereby exposing data to theft or malicious intrusions.
The other factor contributing to the growth of the advanced authentication solutions market is the increased adoption of mobility. Enterprises are feeling pressure to enable employees, partners and other stakeholders to access more sensitive information from anywhere and any device. This is making advanced authentication systems a critical aspect of an enterprise's organizational strategy.
Vendors of advanced authentication solutions are developing and improving their existing authentication methods. Some of the most commonly used authentication methods are biometrics, smartcards, tokens, and several others for mitigating security risks.
Key Market Trends
Biometrics to Hold a Major Share
Biometrics analyze and verify/authenticate individuals based on human physical characteristics, such as fingerprint, retina, iris, palm, speech, and voice, among others.
This method of authentication has been widely adopted, owing to the key advantages it offers, namely its non-repudiation, non-transferable, and non-identifiable nature, thus providing a high level of protection against fraud.
The technology has found successful implementation across various end users, such as forensics, governments, banking and financial institutions, and enterprise identity management, 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.
India to Exhibit Highest Growth
India experienced a 68% rise in cybercrime registration from 2010-2016 and ranks 5th in the world regarding DNS hijacks. As a result, efforts are on from the government's end and from the enterprises in combating the threat.
With campaigns like the massive Digital India Initiative, the government is preparing itself to fight cybercrime with robust regulations, legal frameworks, and implementable laws.
Government's recent step toward money demonetization led to a revolutionary change in the Indian banking industry. As a result, 43.7 million Indian users now use mobile banking, which poses a potential opportunity for the market.
Competitive Landscape
The advanced authentication market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and profitability.
In Jan 2018, Gemalto announced PURE white-label payment solution services to GhIPSS (Ghana Interbank Payment and Settlement Systems), a subsidiary of Ghana's central bank that manages the country's interbank payment processing system. This operation is expected to increase the visibility of the company in the African region.
In the same month, HID Global announced that its HID Approve two-factor mobile authentication and verification platform supports Apple's iPhone X Face ID facial recognition system. The company expects facial recognition to play an increasingly significant role in its authentication offering, combined with threat and fraud detection.
Topics Covered
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Increased Number of Cloud Users and Data Centres
4.3.2 Increasing Number of Security Breaches and Related Costs
4.4 Market Restraints
4.4.1 High Upgrade and Replacement Costs
4.5 Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Forces Analysis
5 TECHNOLOGY SNAPSHOT
5.1 Technology Overview
5.2 Deployment Methods
5.3 Different Authentication Methods
6 MARKET SEGMENTATION
6.1 By Authentication Methods
6.1.1 Smart Cards
6.1.2 Biometrics
6.1.3 Mobile Smart Credentials
6.1.4 Tokens
6.1.5 User-based Public Key Infrastructure
6.1.6 Other Methods
6.2 By End-user Industry
6.2.1 Banking/Financial Services
6.2.2 Healthcare
6.2.3 Government
6.2.4 Defense
6.2.5 IT and Telecom
6.2.6 Other End-user Industries
6.3 Geography
6.3.1 North America
6.3.2 Europe
6.3.3 Asia-Pacific
6.3.4 Latin America
6.3.5 Middle East & Africa
7 COMPETITIVE LANDSCAPE
7.1 Vendor Market Share
7.2 Company Profiles
7.2.1 Fujitsu Ltd.
7.2.2 Gemalto N.V.
7.2.3 NEC Corp.
7.2.4 CA Technologies
7.2.5 Safran Identity and Security S.A.S.
7.2.6 Dell Technologies Inc.
7.2.7 Lumidigm Inc.
7.2.8 Validsoft
7.2.9 Pistolstar
7.2.10 Securenvoy
8 INVESTMENT ANALYSIS
9 MARKET OPPORTUNITIES AND FUTURE TRENDS
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