Advanced Authentication Market in the Financial Service Industry is expected to register a CAGR of 14.37% over the forecast period of 2018-2023| Major Vendors - FUJITSU LTD, SUPREMA INC., RSA SECURITY LLC, LUMIDIGM INC., VALIDSOFT LTD, PISTOLSTAR INC, amo

Market Analysis:

United States to Witness Huge Adoption
The hacked credit card fraud was recorded at USD 4 billion in 2016, a 25% decrease in comparison with 2015, owing to increasing adoption of chip-based cards over magnetic strip cards. Identity theft is one of the fastest growing threats in the region.

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The growth of this market is primarily fueled by increasing internet penetration in emerging markets and the growing focus and investments in cyber security. The growing adoption of multi-factor authentication techniques is expected to aid the growth of this market, during the forecast period. Globally, the financial industry account for the most significant share in the advanced authentication market. With a significant rise in critical financial operations, security remains the primary focus, thus supporting the adoption of authentication solutions. The mobile biometrics market is expected to gain full maturity in 2022, from a consumer adoption phase in 2015. It is expected that by 2022, these authentication systems are expected to be ubiquitous and will be installed in almost every authentication method. However, government regulations, compliance, and retailer payment policies might hinder the growth of the market.

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Market Segments:
Advanced Authentication Market in the Financial Service Industry is segmented by:
1. Authentication Method: Smartcards, Biometrics, Mobile Smart Credentials, Tokens, Others
2. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• August 2017: NEC Corporation announced that it will contribute to the provision of a highly reliable, business-oriented, mobile-network-powered access service, u2018Twin Access’, which SoftBank Corp. plans to offer to business customers, in Japan.
• February 2017: It was reported that Precise Biometrics reached an agreement to acquire NexID Biometrics in early 2017, for USD 3.49 million to add its spoof mitigation and liveness detection technology to its capabilities and will integrate liveness detection with Precise BioMatch Mobile, in the first half of the year.

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