Advanced Authentication Market to Reach US$ 30.8 Billion by 2028, Impelled by Increasing Incidences of Online Fraud

According to the latest report by IMARC Group titled, "Advanced Authentication Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", 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.

Advanced authentication is a verification approach that requires the presence of multiple factors for security validation. It includes multiple factors, such as possession, knowledge, or inherence-based variables, such as a fingerprint, identification card number, retinal scan, password, security code, or one-time password (OTP), that grant access to a virtual or physical space when these elements are successfully verified. It is generally configured through an application server that emphasizes protecting business units and organizations from security threats, including hacking, identity theft, and online fraud. Due to the advent of cloud-based advanced authentication systems, there has been a considerable increase in their adoption to safeguard important information and data.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally-our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.

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Industry Demand:

The market is primarily driven by the rising occurrence of cyber-attacks in various sectors. Moreover, the increasing number of non-cash payments or transaction frauds is providing a boost to the demand for advanced authentication systems. In line with this, the growing adoption of advanced technologies, as they offer various benefits to organizations, such as reduced hardware costs, increased productivity for remote employees, and a satisfied customer base is further fostering the market. Furthermore, continuous technological innovations and the emergence of geo-fencing models that is based on GPS technology, which enables effective tracking of movements in a particular area, are acting as another growth-inducing factor. Other factors, including increasing investments in the continuous improvement of data center infrastructure and rapid digitization, are also influencing the market.

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Global Advanced Authentication Market 2023-2028 Analysis and Segmentation:

Some of the major players operating in the industry include:

• FUJITSU LTD (FJTSY)
• Gemalto N. V (GTOMY)
• NEC Corporation (NEC1.F)
• CA Technologies (CA)
• Safran Identity and Security SAS
• Dell Technologies Inc. (DELL)
• RSA Security
• Lumidigm Inc (HID Global)
• Validisoft
• Pistolstar INC.
• Securenvoy(Shearwater Group)
• NetMotion Wireless Inc.
• CJIS Solutions
• AUTHASAS
• WideBand Corporation
• SECUREAUTH Corp., etc.

Breakup by Authentication Methods:

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

Breakup by Deployment:

• On-Premise
• Cloud

Breakup by Solution:

• Single Factor Authentication
• Multi-Factor Authentication

Breakup by End-User Industry:

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

Breakup by Region:

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

Key Highlights of the Report:

• Market Performance
• Market Outlook
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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