Passive Authentication Market to Reach $4.09 Billion Globally by 2027, Growing at 22.7% CAGR-Allied Market Research

Allied Market Research published a report, titled, "Passive Authentication Market by Component (Solution and Services), Function (Compliance Management, Marketing Management, Risk Management, and Others), Deployment (On-Premise and Cloud), Organization Size (Small & Medium Enterprise and Large Enterprise), and Industry Vertical (Banking, Financial Services, and Insurance (BFSI), Government, IT & Telecom, Retail & Consumer Goods, Healthcare, Media & Entertainment, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027." According to the report, the global passive authentication industry generated $796 million in 2019, and is estimated to reach $4.09 billion by 2027, witnessing a CAGR of 22.7% from 2020 to 2027.

🔰 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/A11097

Passive authentication is a form of authentication in which the identity of the user is checked and confirmed without the need for specific additional actions for the purpose of authentication. Passive authentication solutions are deployed in various industry verticals such as banking, financial services, and insurance (BFSI), government, It & telecommunications, retail & consumer goods, health, media & entertainment, and others (education, travel & hospitality and automotive). Similarly, with rapid technological advancements, companies are delivering innovative solutions with integrated multiple methods such as voice and facial biometrics for authentication and fraud prevention.

Recent advances in passive authentication technology have created numerous opportunities for the passive authentication market growth in the coming years. Passive authentication technological features have been extended by modern high-performance servers that allow for real time processing and much faster response times that are essential for the users to have a seamless experience without the need of retaining different login credentials for various services at a single platform or environment. Furthermore, advancement in cloud computing solutions ranging from higher scalability and computing coupled with surge in adoption of Internet of Things, and sensor technologies are the factors that have created strong demand for passive authentication technology in the market.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/passive-authentication-market/purchase-options

The solution segment to maintain its lead position throughout the forecast period

Based on component, the solution segment held the highest market share in 2019, accounting for nearly three-fifths of the global passive authentication market, and is estimated to maintain its lead position throughout the forecast period. This is due to rapid technological advancements such as emergence of voice and facial biometrics for authentication and fraud prevention. However, the services segment is expected to portray the highest CAGR of 23.2% from 2020 to 2027, owing to a significant rise in cyber-crimes.

The BFSI segment to maintain its dominant share in terms of revenue during the forecast period

Based on industry vertical, the BFSI segment contributed to the largest share in 2019, accounting for nearly two-fifths of the global passive authentication market, and will maintain its dominant share in terms of revenue during the forecast period. This is due to increase in prevalence of cyber-crimes and rise in demand for data security worldwide. However, the healthcare segment is projected to register the highest CAGR of 27.8% from 2020 to 2027. This is attributed to integration of digital technologies in the sector that gave a huge scope to effective authentication methods.

North America to continue its leadership status by 2027

Based on region, North America accounted for the highest share in terms of revenue in 2019, contributing to nearly two-fifths of the global passive authentication market, and will continue its leadership status by 2027. This is attributed to rapid adoption of biometrics, behavioral analytics, and mobile technology. However, Asia-Pacific is estimated to witness the fastest CAGR of 24.8% during the forecast period, owing to increase in enterprises across the region that led to the need for effective security solutions.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/A11097

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 𝐩𝐥𝐚𝐲𝐞𝐫𝐬

NEC Corporation
IBM Corporation
Cisco Systems Inc.
Gemalto
FICO
RSA Security LLC
Experian plc
Equifax Inc.
Nuance Communications Inc.
BioCatch Ltd.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲

By component, in 2019, the solution segment held the major share. However, the service segment is expected to witness highest growth rate during the forecast period.
By deployment type, the local (on-premise) segment accounted for the highest revenue in 2019, however, the cloud is expected to witness highest growth rate during the passive authentication market forecast period.
By function, compliance management held the major share in 2019, however the risk management is anticipated to witness highest growth during the forecast period.
By industry vertical, the BFSI sector accounted for the highest revenue in 2019, however, the healthcare & pharmaceutical segment is expected to witness the highest growth rate during the forecast period.
By region, the passive authentication market size was dominated by North America. However, Asia-Pacific is expected to witness significant growth in the upcoming years.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:
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𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

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