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Risk-based Authentication Market by Component, Technology Type, Application Area, Deployment Mode, Industry Vertical And Region - Global Forecast to 2023

Risk-based Authentication Market: Global Forecast until 2023

  • October 2018
  • 171 pages
  • ID: 5587812
In this report:
Europe is estimated to account for the second largest market share of ##.##% in 2018 and its market size is expected to grow at a CAGR of ##.##% during the forecast period, as companies in the region are pushing for the higher adoption of risk-based authentication solutions and services due to stringent regulations.

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Focus on the protection of infrastructure from growing instances of cyber-attacks and data breaches to drive the risk-based authentication market

The overall risk-based authentication market size is forecasted to grow from ~$2.2B in 2018 to ~$5.4B by 2023, at a Compound Annual Rise rate of 19.80 percent during the forecast period. Main increase factors for the sector contain companies' rising focus on protecting infrastructure from growing instances of cyber-attacks and data breaches and increasing demand for mobility solutions and BYOD trend. Nevertheless, the lack of skilled security professionals and preplanning in firms is a significant challenge for the market increase.

Solution segment to hold larger market size during the estimate period

The solution segment in the risk-based authentication market is forecasted to hold a larger market size during the outlook period. The risk-based authentication solutions help companies improve identity security and protect both corporate and individual data from potentially harmful identity theft.

The multi-factor authentication technology type to account for the biggest sector size in 2018

The MFA technology type is main contributor to the increase of risk-based authentication solution market.The MFA requires more than one method of authentication from independent categories of user credentials to verify the user's identity for a login or other transaction.

It includes Personal Identification Number, one-time password, biometric identity, security tokens, and others. The MFA benefits institutions prevent unauthorized access to sensitive business information and maintain security of employee and customer data.

Asia Pacific (APAC) to record the maximum growth rate during the estimate period

Asia-Pacific is anticipated to grow at the highest compound annual growth rate (CAGR) during the outlook period in the overall risk-based authentication market by area, due to the high-security spending by institutions in main APAC countries, such as china (CN), Australia (AU), India (IN), Singapore (SG), and Japan (JP), for protecting sensitive information from unauthorized access. Moreover, North America (NA) is forecasted to hold the biggest industry size in 2018, as the territory is an early adopter of security technologies.

Comprehensive interviews were managed with CEOs, marketing directors, innovative products and technology directors, and executives from numerous main institutions operating in the risk-based authentication market.

• By Company category: Tier 1: 55.0 percent, Tier 2: 20.0 percent, and Tier 3: 25.0 percent

• By Description: C-suite: 60.0 percent, D-level: 25.0 percent, and Others: 15.0 percent

• By Area: North America continent: 35.0 percent, Europe (EU): 25.0 percent, Asia-Pac: 20.0 percent, MEA: 10.0 percent, and Rest of the globe : 10.0 percent

The analysis includes the study of top market actors, including IBM (NYSE:IBM), CA Technologies, Micro Focus, Okta, Gemalto, OneSpan, SecureAuth, RSA Security, ForgeRock, Entrust Datacard, Ping Identity, LexisNexis, OneLogin, GURUCUL, Centrify, Equifax, Crossmatch, BioCatch, Oracle Corporation (NYSE:ORCL), Evidian, Identity Automation, NoPassword, Silverfort, iovation, and EZMCOM.

Segment Research

The market research offers a vivid picture of risk-based authentication solutions and associated services across industry verticals and areas.It aims at evaluating the market value and increase potential of the market across segments, including solutions, services, technology types, application areas, deployment modes, industry verticals, and territories.

The industry report also comprises a detailed competitive analysis of the top players in the industry, together with their company descriptions, SWOT study, recent evolutions, and key industries strategies.

Main highlights

The study would benefit the market top players/new sector entrants in the sector in these ways:

1. The document breaks down the risk-based authentication market comprehensively and offers the best approximations of the revenue data for the global market and its sub-segments across localities.

2. The analysis benefits partners distinguish the pulse of the sector and offers them the information about the main market drivers, market restraints, opportunities, and alternatives.

3. The market research benefits partners comprehend their players better and acquire additional insights to enhance their positions in their businesses. The competitive outlook section includes competitor ecosystems, new industry product developments, alliances, and mergers and acquisitions.

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