3D Secure Authentication Market Share, Industry Size, Leading Companies Outlook, Upcoming Challenges and Opportunities till 2028

The 3D secure authentication market size is expected to reach US$ 1,303.5 million by 2028, registering at a CAGR of 11.4% from 2021 to 2028, according to a new research study conducted by The Insight Partners. Factors such as increase in e-commerce and m-commerce sales across the world pertaining to rise in the sales of smartphones and internet penetration is driving the growth of 3D Secure Authentication market. With growth in online shopping portals and availability of online payment methods, there is a significant rise in online frauds. This factor is driving the adoption of 3D authentication technology. Moreover, emergence of 3D secure 2.0 and high prospects in Asian economies are further projected to provide plenty of growth opportunities to the 3D secure authentication technology providers.

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The 3D secure authentication market is segmented based on component, end-user, and geography. Based on component, the market is bifurcated into solution and services. The solution segment represented a larger share of the overall market in 2020. In terms of end user, the market is segmented into banks and merchant and payment processor. In 2020, the merchant and payment processor segment accounted for the substantial share of the market. Geographically, North America held the largest share of the 3D Secure Authentication market in 2020, followed by Europe and APAC.

The Key Players In The Global 3D Secure Authentication Market Are:

•Netcetera
•GPayments Pvt. Ltd.
•ASEE Group
•AsiaPay Limited
•Modirum
•mSignia, Inc
•Ravelin Technology Ltd
•RS Software
•UL, LLC
•iZealiant Technologies Pvt. Ltd

Impact of COVID-19 Pandemic on 3D Secure Authentication Market

North America is known for having the highest rate of advanced technology adoption due to favorable government policies that foster innovation and enhance internet infrastructure. As a result, every factor affecting the region's industrial performance obstructs its economic development. In 2020, the US has become the world's worst-affected country as a result of the COVID-19 outbreak, causing governments to impose a number of limitations on businesses in the country in an attempt to contain the disease's spread. However, the closure of businesses and public activities has not created a direct impact on the market, as during the pandemic, the adoption of e-commerce channel has been boosted significantly, leading to increase in online payment modes.

The Asian economy is witnessing an increase in adoption of 3D secure authentication technology, owing to high usage of online shopping portals. Countries such as China, India, Japan, and Singapore are adopting authentication technology within their territories. The rising demand for digital transformation in banks has led to an increase in use of 3D secure authentication in Asia. In the Asian market, introduction of real-time payments has resulted into drastic rise in payment fraud, with four in five APAC banks experiencing increase in losses, as per the results from Fico survey in January 2020. Moreover, regulatory changes and individuals aimed at facilitating adoption of open banking are also resulting into digital banking fraud. Factors mentioned above are predicted to generate lucrative growth opportunities for the adoption of 3D secure authentication technology.

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The Segments and Sub-Section of 3D Secure Authentication Market are shown below:

By Component (Solution and Services) and

By End-User (Banks and Merchant and Payment Processor)

Component Based Market Insights

Based on component, the market is segmented into solution and services. The solution segment led the 3D secure authentication market in 2020 and is expected to continue having a majority share in the market during the forecast period. In the current scenario, with continuous technological developments, online shopping is increasing, which is resulting into rise in online fraud. The ecosystem of online shopping is surrounded with fraud also; which is encouraging merchants, banks, and acquirers to invest money to offer fast, simple, and reliable online payment solutions with high level of security.

End-User Based Market Insights

In terms of end user, the market is segmented into banks and merchant and payment processor. The merchant and payment processor segment led the end-user segment. Merchant are the other users of 3D secure authentication solutions to mitigate the risk of online fraud. In the current scenario, all merchants have not fully transitioned from 3D Secure 1 to 3D Secure 2. Nevertheless, players like Marqeta support both 3D Secure 2 & 3D Secure 1 for Visa.

The Insight Partners 3D Secure Authentication Market Research Report Scenario includes:

•The report provides qualitative and quantitative trends of global 3D Secure Authentication Market across type, type of products, service, and geography.
•The report starts with the key takeaways (Chapter Two), highlighting the key trends and outlook of the global 3D Secure Authentication Market.
•Chapter Three provides the research methodology of the study.
•Chapter Four further provides PEST analysis for each region.
•Chapter Five highlights the key industry dynamics in the 3D Secure Authentication Market, including factors that are driving the market, prevailing deterrent, potential opportunities as well as future trends. Impact analysis of these drivers and restraints is also covered in this section.
•Chapter Six discusses the global 3D Secure Authentication Market scenario, in terms of historical market revenues, and forecast till the year 2028.
•Chapter Seven to ten discuss 3D Secure Authentication Market segments by type, type of application, service, and geography across North America, Europe, Asia-Pacific, Middle East and Africa, South and Central America. They cover market revenue forecast, and factors driving and governing growth.
•Chapter Eleven describes the industry landscape analysis. It provides detailed description of various business activities such as market initiatives, new developments, mergers and joint ventures globally along with a competitive landscape.
•Chapter Twelve provides the detailed profiles of the key companies operating in the global 3D Secure Authentication Market. The companies have been profiled on the basis of their key facts, business description, products and services, financial overview, SWOT analysis, and key developments.
•Chapter Thirteen, i.e. the appendix is inclusive of a brief overview of the company, glossary of terms, contact information, and the disclaimer section.

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