Market Research Report
Risk-based Authentication Market by Component, Technology Type (MFA, Behavioral Biometrics, Web Access Management), Application Area (Fraud Prevention, IoT Security), Deployment Mode, Industry Vertical, and Region - Global Forecast to 2023
|Published by||MarketsandMarkets||Product code||720543|
|Published||Content info||171 Pages
Delivery time: 1-2 business days
|Risk-based Authentication Market by Component, Technology Type (MFA, Behavioral Biometrics, Web Access Management), Application Area (Fraud Prevention, IoT Security), Deployment Mode, Industry Vertical, and Region - Global Forecast to 2023|
|Published: October 4, 2018||Content info: 171 Pages||
"Focus on the protection of infrastructure from increasing instances of cyber-attacks and data breaches to drive the risk-based authentication market"
The global risk-based authentication market size is expected to grow from USD 2.19 billion in 2018 to USD 5.41 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 19.8% during the forecast period. Major growth factors for the market include enterprises' increasing focus on protecting infrastructure from rising instances of cyber-attacks and data breaches and growing demand for mobility solutions and BYOD trend. However, the lack of skilled security professionals and preplanning in enterprises is a significant challenge for the market growth.
The solution segment in the risk-based authentication market is expected to hold a larger market size during the forecast period. The risk-based authentication solutions help enterprises improve identity security and protect both corporate and individual data from potentially harmful identity theft.
The MFA technology type is major contributor to the growth of risk-based authentication solution market. The MFA requires more than one method of authentication from independent categories of user credentials to verify the user's identity for a login or other transaction. It includes Personal Identification Number (PIN), one-time password (OTP), biometric identity, security tokens, and others. The MFA helps organizations prevent unauthorized access to sensitive business information and maintain security of employee and customer data.
APAC is expected to grow at the highest CAGR during the forecast period in the global risk-based authentication market by region, owing to the high-security spending by organizations in major APAC countries, such as China, Australia, India, Singapore, and Japan, for protecting sensitive information from unauthorized access. Furthermore, North America is estimated to hold the largest market size in 2018, as the region is an early adopter of security technologies.
In-depth interviews were conducted with CEOs, marketing directors, innovation and technology directors, and executives from various key organizations operating in the risk-based authentication market.
The report includes the study of key market players, such as IBM (US), CA Technologies (US), Micro Focus (UK), Okta (US), Gemalto (Netherlands), OneSpan (VASCO Data Security; US), SecureAuth (US), RSA Security (US), ForgeRock (US), Entrust Datacard (US), Ping Identity (US), LexisNexis (US), OneLogin (US), GURUCUL (US), Centrify (US), Equifax (US), Crossmatch (US), BioCatch (Israel), Oracle (US), Evidian (France), Identity Automation (US), NoPassword (US), Silverfort (Israel), iovation (US), and EZMCOM (US).
The report provides a vivid picture of risk-based authentication solutions and associated services across industry verticals and regions. It aims at estimating the market size and growth potential of the market across segments, such as solutions, services, technology types, application areas, deployment modes, industry verticals, and regions. The report also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, SWOT analysis, recent developments, and key market strategies.
The report would help the market leaders/new entrants in the market in the following ways:
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MNM View might not be captured in case of unlisted companies.