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Risk-based Authentication Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global risk-based authentication market size reached US$ 4.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.7 Billion by 2028, exhibiting a growth rate (CAGR) of 16.2% during 2023-2028.

Risk-based authentication (RBA) evaluates the IP address, browser, status of antivirus software, and physical location of a consumer to determine the risk associated with the request for accessing the system. It relies on real-time intelligence to assist organizations in maintaining internal and external compliance, such as the health insurance portability and accountability act (HIPPA), federal financial institutions examination council (FFIEC), and security operations center (SOC). Besides this, it also helps in tracking user activity and identifying suspicious behavior to ensure high security within the network.

 

 
 

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Risk-based Authentication Market Trends:

At present, there is an increase in the utilization of online banking on account of real-time payment solutions and the convenience offered. This, coupled with surging cyber-attacks and data breaches to view, copy and steal confidential data of individuals, groups, private companies, and government organizations, represents one of the major factors propelling the market growth. In addition, the growing adoption of remote working culture due to the coronavirus disease (COVID-19) outbreak and consequent imposition of complete lockdown in numerous countries is driving the sales of RBA. Moreover, there is an increase in the trend of bring your own device (BYOD), which can be accredited to the rising sales of smartphones, tablets, and laptops. This, in turn, is offering lucrative growth opportunities to investors, end users and industry players. Apart from this, the application of RBA is expanding in the healthcare, government, and retail sectors for logging, monitoring systems and offering endpoint protection. Furthermore, key market players are focusing on product innovation and strategic partnerships with technology vendors to provide advanced RBA solutions and services to mitigate potential threats, which is projected to bolster the market growth.

Key Market Segmentation:

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

Breakup by Component:

 

 
 

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  • Solution
  • Service
     

Breakup by Deployment:

  • On-premises
  • Cloud-based
     

Breakup by Application:

  • Fraud Prevention
  • Cloud Application Security
  • IoT Security
  • Others
     

Breakup by End User Vertical:

  • Banking and Financial Services
  • Retail
  • IT and Telecommunication
  • Government
  • Healthcare
  • Others
     

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Broadcom Inc., Centrify, Equifax Inc., ForgeRock, Gurucul, HID Global (Assa Abloy AB), International Business Machines Corporation, Micro Focus International plc, Okta Inc., Oracle Corporation, Secureauth Corporation and TransUnion.

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Component, Deployment, Application, End User Vertical, Region
Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Broadcom Inc., Centrify, Equifax Inc., ForgeRock, Gurucul, HID Global (Assa Abloy AB), International Business Machines Corporation, Micro Focus International plc, Okta Inc., Oracle Corporation, Secureauth Corporation and TransUnion
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1   Preface
2   Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Global Risk-based Authentication Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6   Market Breakup by Component
    6.1    Solution
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Service
        6.2.1 Market Trends
        6.2.2 Market Forecast
7   Market Breakup by Deployment
    7.1    On-premises
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Cloud-based
        7.2.1 Market Trends
        7.2.2 Market Forecast
8   Market Breakup by Application
    8.1    Fraud Prevention
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Cloud Application Security
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    IoT Security
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Others
        8.4.1 Market Trends
        8.4.2 Market Forecast
9   Market Breakup by End User Vertical
    9.1    Banking and Financial Services
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Retail
        9.2.1 Market Trends
        9.2.2 Market Forecast
    9.3    IT and Telecommunication
        9.3.1 Market Trends
        9.3.2 Market Forecast
    9.4    Government
        9.4.1 Market Trends
        9.4.2 Market Forecast
    9.5    Healthcare
        9.5.1 Market Trends
        9.5.2 Market Forecast
    9.6    Others
        9.6.1 Market Trends
        9.6.2 Market Forecast
10  Market Breakup by Region
    10.1    North America
        10.1.1 United States
           10.1.1.1 Market Trends
           10.1.1.2 Market Forecast
        10.1.2 Canada
           10.1.2.1 Market Trends
           10.1.2.2 Market Forecast
    10.2    Asia-Pacific
        10.2.1 China
           10.2.1.1 Market Trends
           10.2.1.2 Market Forecast
        10.2.2 Japan
           10.2.2.1 Market Trends
           10.2.2.2 Market Forecast
        10.2.3 India
           10.2.3.1 Market Trends
           10.2.3.2 Market Forecast
        10.2.4 South Korea
           10.2.4.1 Market Trends
           10.2.4.2 Market Forecast
        10.2.5 Australia
           10.2.5.1 Market Trends
           10.2.5.2 Market Forecast
        10.2.6 Indonesia
           10.2.6.1 Market Trends
           10.2.6.2 Market Forecast
        10.2.7 Others
           10.2.7.1 Market Trends
           10.2.7.2 Market Forecast
    10.3    Europe
        10.3.1 Germany
           10.3.1.1 Market Trends
           10.3.1.2 Market Forecast
        10.3.2 France
           10.3.2.1 Market Trends
           10.3.2.2 Market Forecast
        10.3.3 United Kingdom
           10.3.3.1 Market Trends
           10.3.3.2 Market Forecast
        10.3.4 Italy
           10.3.4.1 Market Trends
           10.3.4.2 Market Forecast
        10.3.5 Spain
           10.3.5.1 Market Trends
           10.3.5.2 Market Forecast
        10.3.6 Russia
           10.3.6.1 Market Trends
           10.3.6.2 Market Forecast
        10.3.7 Others
           10.3.7.1 Market Trends
           10.3.7.2 Market Forecast
    10.4    Latin America
        10.4.1 Brazil
           10.4.1.1 Market Trends
           10.4.1.2 Market Forecast
        10.4.2 Mexico
           10.4.2.1 Market Trends
           10.4.2.2 Market Forecast
        10.4.3 Others
           10.4.3.1 Market Trends
           10.4.3.2 Market Forecast
    10.5    Middle East and Africa
        10.5.1 Market Trends
        10.5.2 Market Breakup by Country
        10.5.3 Market Forecast
11  SWOT Analysis
    11.1    Overview
    11.2    Strengths
    11.3    Weaknesses
    11.4    Opportunities
    11.5    Threats
12  Value Chain Analysis
13  Porters Five Forces Analysis

    13.1    Overview
    13.2    Bargaining Power of Buyers
    13.3    Bargaining Power of Suppliers
    13.4    Degree of Competition
    13.5    Threat of New Entrants
    13.6    Threat of Substitutes
14  Price Analysis
15  Competitive Landscape

    15.1    Market Structure
    15.2    Key Players
    15.3    Profiles of Key Players
        15.3.1    Broadcom Inc.
           15.3.1.1 Company Overview
           15.3.1.2 Product Portfolio
           15.3.1.3 Financials
           15.3.1.4 SWOT Analysis
        15.3.2    Centrify
           15.3.2.1 Company Overview
           15.3.2.2 Product Portfolio
        15.3.3    Equifax Inc.
           15.3.3.1 Company Overview
           15.3.3.2 Product Portfolio
           15.3.3.3 Financials
           15.3.3.4 SWOT Analysis
        15.3.4    ForgeRock
           15.3.4.1 Company Overview
           15.3.4.2 Product Portfolio
        15.3.5    Gurucul
           15.3.5.1 Company Overview
           15.3.5.2 Product Portfolio
        15.3.6    HID Global (Assa Abloy AB)
           15.3.6.1 Company Overview
           15.3.6.2 Product Portfolio
        15.3.7    International Business Machines Corporation
           15.3.7.1 Company Overview
           15.3.7.2 Product Portfolio
           15.3.7.3 Financials
           15.3.7.4 SWOT Analysis
        15.3.8    Micro Focus International plc
           15.3.8.1 Company Overview
           15.3.8.2 Product Portfolio
           15.3.8.3 Financials
        15.3.9    Okta Inc.
           15.3.9.1 Company Overview
           15.3.9.2 Product Portfolio
           15.3.9.3 Financials
        15.3.10    Oracle Corporation
           15.3.10.1 Company Overview
           15.3.10.2 Product Portfolio
           15.3.10.3 Financials
           15.3.10.4 SWOT Analysis
        15.3.11    Secureauth Corporation
           15.3.11.1 Company Overview
           15.3.11.2 Product Portfolio
        15.3.12    TransUnion
           15.3.12.1 Company Overview
           15.3.12.2 Product Portfolio
           15.3.12.3 Financials
           15.3.12.4 SWOT Analysis

List of Figures

Figure 1: Global: Risk-based Authentication Market: Major Drivers and Challenges
Figure 2: Global: Risk-based Authentication Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Risk-based Authentication Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Risk-based Authentication Market: Breakup by Component (in %), 2022
Figure 5: Global: Risk-based Authentication Market: Breakup by Deployment (in %), 2022
Figure 6: Global: Risk-based Authentication Market: Breakup by Application (in %), 2022
Figure 7: Global: Risk-based Authentication Market: Breakup by End User Vertical (in %), 2022
Figure 8: Global: Risk-based Authentication Market: Breakup by Region (in %), 2022
Figure 9: Global: Risk-based Authentication (Solution) Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Global: Risk-based Authentication (Solution) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 11: Global: Risk-based Authentication (Service) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Risk-based Authentication (Service) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Risk-based Authentication (On-premises) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Risk-based Authentication (On-premises) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Risk-based Authentication (Cloud-based) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Risk-based Authentication (Cloud-based) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Risk-based Authentication (Fraud Prevention) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Risk-based Authentication (Fraud Prevention) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Risk-based Authentication (Cloud Application Security) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Risk-based Authentication (Cloud Application Security) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Risk-based Authentication (IoT Security) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Risk-based Authentication (IoT Security) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Global: Risk-based Authentication (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Global: Risk-based Authentication (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Global: Risk-based Authentication (Banking and Financial Services) Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Global: Risk-based Authentication (Banking and Financial Services) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Global: Risk-based Authentication (Retail) Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Global: Risk-based Authentication (Retail) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Global: Risk-based Authentication (IT and Telecommunication) Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Global: Risk-based Authentication (IT and Telecommunication) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Global: Risk-based Authentication (Government) Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Global: Risk-based Authentication (Government) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: Global: Risk-based Authentication (Healthcare) Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: Global: Risk-based Authentication (Healthcare) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: Global: Risk-based Authentication (Other End User Verticals) Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: Global: Risk-based Authentication (Other End User Verticals) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: North America: Risk-based Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: North America: Risk-based Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: United States: Risk-based Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: United States: Risk-based Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: Canada: Risk-based Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: Canada: Risk-based Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 43: Asia-Pacific: Risk-based Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 44: Asia-Pacific: Risk-based Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 45: China: Risk-based Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 46: China: Risk-based Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 47: Japan: Risk-based Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 48: Japan: Risk-based Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 49: India: Risk-based Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 50: India: Risk-based Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 51: South Korea: Risk-based Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 52: South Korea: Risk-based Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 53: Australia: Risk-based Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 54: Australia: Risk-based Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 55: Indonesia: Risk-based Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 56: Indonesia: Risk-based Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 57: Others: Risk-based Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 58: Others: Risk-based Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 59: Europe: Risk-based Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 60: Europe: Risk-based Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 61: Germany: Risk-based Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 62: Germany: Risk-based Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 63: France: Risk-based Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 64: France: Risk-based Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 65: United Kingdom: Risk-based Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 66: United Kingdom: Risk-based Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 67: Italy: Risk-based Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 68: Italy: Risk-based Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 69: Spain: Risk-based Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 70: Spain: Risk-based Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 71: Russia: Risk-based Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 72: Russia: Risk-based Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 73: Others: Risk-based Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 74: Others: Risk-based Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 75: Latin America: Risk-based Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 76: Latin America: Risk-based Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 77: Brazil: Risk-based Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 78: Brazil: Risk-based Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 79: Mexico: Risk-based Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 80: Mexico: Risk-based Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 81: Others: Risk-based Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 82: Others: Risk-based Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 83: Middle East and Africa: Risk-based Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 84: Middle East and Africa: Risk-based Authentication Market: Breakup by Country (in %), 2022
Figure 85: Middle East and Africa: Risk-based Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 86: Global: Risk-based Authentication Industry: SWOT Analysis
Figure 87: Global: Risk-based Authentication Industry: Value Chain Analysis
Figure 88: Global: Risk-based Authentication Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Risk-based Authentication Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Risk-based Authentication Market Forecast: Breakup by Component (in Million US$), 2023-2028
Table 3: Global: Risk-based Authentication Market Forecast: Breakup by Deployment (in Million US$), 2023-2028
Table 4: Global: Risk-based Authentication Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 5: Global: Risk-based Authentication Market Forecast: Breakup by End User Vertical (in Million US$), 2023-2028
Table 6: Global: Risk-based Authentication Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 7: Global: Risk-based Authentication Market: Competitive Structure
Table 8: Global: Risk-based Authentication Market: Key Players


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Key Questions Answered in This Report

The global risk-based authentication market was valued at US$ 4.5 Billion in 2022.

We expect the global risk-based authentication market to exhibit a CAGR of 16.2% during 2023-2028.

The sudden outbreak of the COVID-19 pandemic has led to the increasing demand for risk-based authentication to prevent the cyber-attacks and data breaches across numerous organizations, during remote working and Bring Your Own Device (BYOD) models.

The widespread adoption of risk-based authentication for tracking user activity and identifying suspicious behavior to ensure high security within the network, is primarily driving the global risk-based authentication market.

Based on the component, the global risk-based authentication market has been divided into solution and service. Currently, solution exhibits a clear dominance in the market.

Based on the deployment, the global risk-based authentication market can be categorized into on-premises and cloud-based, where cloud-based currently holds the majority of the total market share.

Based on the application, the global risk-based authentication market has been segmented into fraud prevention, cloud application security, IoT security, and others. Currently, fraud prevention accounts for the largest market share.

Based on the end user vertical, the global risk-based authentication market can be bifurcated into banking and financial services, retail, IT and telecommunication, government, healthcare, and others. Among these, the IT and telecommunication sector exhibits a clear dominance in the market.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global risk-based authentication market include Broadcom Inc., Centrify, Equifax Inc., ForgeRock, Gurucul, HID Global (Assa Abloy AB), International Business Machines Corporation, Micro Focus International plc, Okta Inc., Oracle Corporation, Secureauth Corporation, and TransUnion.

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