Passive authentication market is expected to grow at a good CAGR between 2017 and 2023Market - Forecasts from 2018 to 2023” studies the various factors affecting the demand for passive authentication among end-users worldwide. The market has been segmented by offering (software, services), deployment model (on-premise, cloud), enterprise size (small, medium, large), and end-user industry (government, BFSI, media and entertainment, education, communication and technology, others).
Furthermore, the demand for passive authentication has been estimated across all major geographies namely North America, South America, Europe, Middle East and Africa and the Asia Pacific. To give a clearer view of this market across these geographies, the regional market is further segmented into countries which account for a significant share in the market. The growth of this market is majorly attributed to the increasing focus of enterprises towards strengthening their security on account of rising incidence and severity of cyber-attacks worldwide. Increasing reliance on digital technologies and huge volumes of data generated every day, coupled with stringent regulations in many regions regarding data security is increasing the adoption of advanced authentication solutions by end users, thus boosting the market growth of passive authentication solutions.
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By enterprise size, large enterprises hold the largest share in this market.
Large enterprises, among enterprises of all sizes, hold the largest share in this market on account of continuously increasing digitization of business processes across such enterprises and huge losses associated with security breaches. Huge IT budgets in large enterprises allow them to make investments in advanced technologies for security, which is supporting the market growth among them. Small and medium enterprises also hold a significant share in this market and are expected to show good growth over the projected period.
North America and Europe are two of the major geographies for this market
North America and Europe, known for being the early adopters of new technologies, together hold the largest market share among all major geographies worldwide. Booming industries in these regions are contributing to the continuously increasing demand for passive authentication solutions on account of increasing spending by business owners into advanced technologies for strengthening security. The market in the Asia Pacific is poised to witness good growth over the projected period as industries in this region continue to witness a very heavy inflow of investments by industry players.
This report also includes a study of strategies and product portfolios of some of the leading companies in the passive authentication market. Major companies profiled as a part of this report are NEC, IBM, Cisco, Gemalto, Experian, Equifax, Nuance Communications, Biocatch, Behaviosec, and Pindrop.
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