Press release
Passive Authentication Market to Reach $4.09 Billion Globally by 2027, Growing at 22.7% CAGR-Allied Market Research
๐ฐ ๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ - 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.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ: 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.
๐๐ง๐ญ๐๐ซ๐๐ฌ๐ญ๐๐ ๐ญ๐จ ๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐ญ๐ก๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ? ๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ - https://www.alliedmarketresearch.com/purchase-enquiry/A11097
๐๐๐๐๐ข๐ง๐ ๐ฆ๐๐ซ๐ค๐๐ญ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ
NEC Corporation
IBM Corporation
Cisco Systems Inc.
Gemalto
FICO
RSA Security LLC
Experian plc
Equifax Inc.
Nuance Communications Inc.
BioCatch Ltd.
๐๐๐ฒ ๐ ๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐๐ ๐๐ก๐ ๐๐ญ๐ฎ๐๐ฒ
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.
๐๐จ๐ง๐ญ๐๐๐ญ:
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๐๐๐จ๐ฎ๐ญ ๐๐ฌ:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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