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Insights into Mobile User Authentication Market: Size, Share, and Trends 2024-2033
Mobile User Authentication Market
The mobile user authentication market size is expected to see rapid growth in the next few years. It will grow to $7.51 billion in 2028 at a compound annual growth rate (CAGR) of 19.7%. The growth in the forecast period can be attributed to increasing mobile device adoption, rapid digital transformation, growing cybersecurity threats, expansion of IoT devices, demand for frictionless authentication. Major trends in the forecast period include biometric authentication dominance, adoption of behavioral biometrics, adoption of zero trust security, blockchain-based authentication, blockchain-based authentication, integration with AI and ML.
Market Overview -
Mobile user authentication refers to the process of verifying a user's identity on their mobile device before granting them access to an account or system. It is a critical component for any organization that conducts business or manages customer accounts through mobile devices.
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Rising Cybersecurity Threats Drive Growth Of Mobile User Authentication Market
The rising cybersecurity threats are expected to propel the growth of mobile user authentication forward. Cybersecurity threats are potential risks to computer systems, networks, and data that can result in unauthorized access, data breaches, or information loss. The rising cybersecurity threats is due to increased connectivity, data monetization, remote work, sophisticated attack techniques, and a lack of awareness. Mobile user authentication is used in crucial in cybersecurity to mitigate various threats such as password theft, phishing attacks, MitM attacks, device theft or loss, data breaches, and unauthorized access to applications. For instance, in November 2022, according to the Australian Cyber Security Centre, an Australia-based cyber security agency, cyber crime reports received were 76,000, up from 13% from the previous year. Therefore, rising cybersecurity threats are driving the growth of the mobile user authentication market.
Competitive Landscape -
Major companies operating in the mobile user authentication market are Apple Inc, Google LLC, Microsoft Corporation, International Business Machines Corporation, Broadcom Inc, Gemalto NV, Entrust Datacard Corporation, HID Global, Avast Antivirus, RSA SecurID, BlackBerry Limited, CyberArk Software Inc, ESET s.r.o, Ping Identity Corporation, OneSpan, ForgeRock Inc., MobileIron Inc, Centrify Inc, SecureAuth Corporation, Duo Security , CA Technologies, BIO-key International, Authentify Inc, Veridium, TeleSign
Innovative Digital Identity And Security Services Transforming The Mobile User Authentication Market
Major companies operating in the mobile user authentication market are focusing on the development of innovative technologies such as TruSense to meet the growing demand. TruSense is a digital identity and security service that encompass a range of solutions and technologies aimed at verifying and protecting the identities of individuals and entities in digital environments. For instance, in February 2023, Route Mobile Limited, an India-based cloud communications platform service provider, launched TruSense, a cutting-edge digital identity and security service aimed at securing digital transactions through a reliable ecosystem, enabling businesses to authenticate end-users in a frictionless manner. It ensures secure authentication, reliable identity verification, and intelligent fraud detection, leveraging AI and ML for real-time risk assessment and facilitating seamless identity verification against authorized third-party data. Overall, it is a versatile technology used in various applications, providing solutions for digital identity and security, content curation and product tagging, row guidance, and cooling water technology.
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Key Segments -
The mobile user authentication market covered in this report is segmented -
1) By Authentication: Biometric Authentication, Multi-Factor Authentication (MFA), Knowledge-Based Authentication (KBA), Other Authentication
2) By Deployment: Cloud-Based Authentication, On-Premises Authentication
3) By Organization Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
4) By End-User Vertical: Banking, Financial Services, and Insurance, Consumer Electronics, Government, Telecommunication, Healthcare, Manufacturing, Other End-user Verticals
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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