DUBLIN--(BUSINESS WIRE)--The "Global Risk-based Authentication Market By Component, By Technology, By Security Policies, By Deployment, By Application, By End-User, By Region, Competition, Forecast & Opportunities, 2024" report has been added to ResearchAndMarkets.com's offering.
The global risk-based authentication market stood at $2.3 billion and is projected to grow at a CAGR of more than 18.8% to reach $6.5 billion by 2024, on account of surging enterprise breaches and increasing adoption of risk-based authentication solutions in various industries such as BFSI and healthcare.
Moreover, rising number of connected devices, backed by the growing demand for mobility solution along with rising inclination towards the concept of BYOD is further contributing to the growth of the global risk-based authentication market. The risk-based authentication system takes into consideration the profile of the agent requesting access to the particular system so as to reduce the risk profile associated with that transaction.
The global risk-based authentication market can be categorized based on component, technology, security policies, deployment, application, end-user and regional analysis. Based on the component, the market can be bifurcated into solution and services, of which the solution segment dominates the market, as this segment helps enterprises to identify and authenticate customers and protect customers' data.
The global risk-based authentication market caters to various end-users such as BFSI, healthcare, government, retail and others. Owing to increasing fraudulent activities and surging instances of cyber-attacks, BFSI was the largest segment in 2018, and is likely to continue its leading position during the forecast period as well.
Regionally, the market for risk-based authentication is gaining traction and expanding to various regions including Asia-Pacific, North America, Europe, South America and the Middle East & Africa. North America is expected to dominate the market during the forecast period due to elevating need to meet the compliance requirements for protecting user identity.
However, Asia-Pacific is expected to grow at a high rate during the forecast period, owing to high security spending by organizations in countries such as China, India and Japan.
Major players operating in the global risk-based authentication market include International Business Machines Corporation, Micro Focus International plc, CA, Inc., RSA Security LLC and Okta, Inc. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market.
Other competitive strategies include mergers & acquisitions and new product developments. For instance, IBM offers risk-based authentication solutions by bringing together IBM Trusteer Pinpoint Detect and IBM Security Access Manager. The solution assesses high-risk factors, analyzes session information and protects against fraudulent transactions.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
Objective of the Study
- To analyze and forecast the global risk-based authentication market size.
- To classify and forecast the global risk-based authentication market based on component, technology, security policies, deployment, application, end-user and regional distribution.
- To identify drivers and challenges for the global risk-based authentication market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global risk-based authentication market.
- To identify and analyze the profile of leading players operating in the global risk-based authentication market.
Key Topics Covered
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
5. Global Risk-based Authentication Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Component (Solution and Services (Managed and Professional))
5.2.2. By Technology (Multi-Factor Authentication, Behavioral Biometrics and Web Access Management)
5.2.3. By Security Policies (Device-Based Policies, Attribute-Based Policies, Behavior Policies, Resource-Based Policies, Network and Browser-based Policies)
5.2.4. By Deployment (On-premise and Cloud)
5.2.5. By Application (Fraud Prevention, Cloud-Application Security, IoT Security and Others)
5.2.6. By End-User (BFSI, Healthcare, Government, Retail and Others)
5.2.7. By Region (North America; Europe; Asia Pacific; South America and Middle East & Africa)
5.2.8. By Company (2018)
5.3. Market Attractiveness Index
6. North America Risk-based Authentication Market Outlook
7. Europe Risk-based Authentication Market Outlook
8. Asia-Pacific Risk-based Authentication Market Outlook
9. Middle East and Africa Risk-based Authentication Market Outlook
10. South America Risk-based Authentication Market Outlook
11. Market Dynamics
12. Market Trends & Developments
13. Competitive Landscape
13.1. Competition Outlook
13.2. Company Profiles (Partial List of Leading Companies)
13.2.1. International Business Machines Corporation
13.2.2. Micro Focus International plc
13.2.3. CA Inc.
13.2.4. RSA Security LLC
13.2.5. Okta Inc.
13.2.6. SecureAuth Corporation
13.2.7. Gemalto N.V.
13.2.10. Equifax Inc.
(Note: The companies list can be customized based on the client requirements.)
14. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/7n37jb