Advanced Authentication Market

Market Overview:

The global advanced authentication market size reached US$ 14.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 30.8 Billion by 2028, exhibiting a growth rate (CAGR) of 13.2% during 2023-2028. The growing utilization of online payment gateways, rising occurrence of cyber security breaches, and increasing adoption of remote working models represent some of the key factors driving the market.

Advanced authentication refers to the authentication strategy that relies on real-world identity signals adaptively to present significantly stronger identity verification. It includes software tokens, hardware tokens, and biometric systems, which are used in conjunction with traditional methods of verifying identity, such as names and passwords. It is configured through a database or an application server that emphasizes providing protection to organizations and business units from a wide range of security breaches and threats, such as hacking, identity theft, and online fraud. It grants the authorization or permission to access a particular virtual or physical space to an individual after verifying a set of specific factors. It evaluates a wide array of verification factors, which are either possession, knowledge, or inherence-based variables like fingerprint, personal identification number (PIN), retinal scan, passwords, security questions, and one-time password (OTP). Furthermore, it enables account managers to define rules or policies to control the access of users from different domains.

Advanced Authentication Market Trends:

At present, the increasing demand for advanced authentication, as it is reliable and efficient in mitigating security risks, represents one of the crucial factors impelling the growth of the market. Besides this, the rising occurrence of cyber security breaches to steal or copy confidential information is currently propelling the growth of the market. In addition, the growing utilization of online payment gateways to make cashless payments for products and services is offering a favorable market outlook. Apart from this, the rising adoption of geofencing models based on global positioning system (GPS) technology to provide an effective tool for tracking movements in a particular area and restricting unauthorized access is contributing to the market growth. Additionally, the increasing cloud computing activities to delegate routine tasks, improve operational efficiency, and store huge amounts of crucial data is strengthening the growth of the market. Moreover, the rising adoption of remote working models to maintain proper work-life balance and flexibility while completing tasks is supporting the growth of the market. Furthermore, the increasing popularity of biometrics as an effective authentication method for offering non-repudiation, non-transferable, and non-identifiable characteristics is bolstering the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global advanced authentication market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on authentication methods, deployment, solution and end-user industry.

Authentication Methods Insights:

• Smart Cards
• Biometrics
• Mobile Smart Credentials
• Tokens
• User-Based Public Key Infrastructure
• Other Authentication Methods
   

The report has provided a detailed breakup and analysis of the advanced authentication market based on the authentication methods. This includes smart cards, biometrics, mobile smart credentials, tokens, user-based public key infrastructure, and other authentication methods. According to the report, biometrics represented the largest segment.

Deployment Insights:

• On-Premise
• Cloud
   

A detailed breakup and analysis of the advanced authentication market based on the deployment has also been provided in the report. This includes on-premise and cloud. According to the report, cloud accounted for the largest market share.

Solution Insights:

• Single-Factor Authentication
• Multi-Factor Authentication
   

A detailed breakup and analysis of the advanced authentication market based on the solution has also been provided in the report. This includes single-factor authentication and multi-factor authentication. According to the report, multi-factor authentication accounted for the largest market share.

End-User Industry Insights:

• Banking and Financial Services
• Healthcare
• Government
• Defense
• IT and Telecom
• Others
   

A detailed breakup and analysis of the advanced authentication market based on the end-user industry has also been provided in the report. This includes banking and financial services, healthcare, government, defense, IT and telecom, and others.

Regional Insights:

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America, Europe, Asia Pacific, the Middle East and Africa and Latin America. According to the report, North America was the largest market for advanced authentication. Some of the factors driving the North America advanced authentication market included the growing cloud computing practices, rising occurrence of cyber security breaches, increasing adoption of advanced security measures by various industry verticals, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global advanced authentication market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include 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. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the advanced authentication market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global advanced authentication market.
• The study maps the leading, as well as the fastest-growing, regional markets.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the advanced authentication industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.