The Asia Pacific Passive Authentication Market would witness market growth of 21.4% CAGR during the forecast period (2022-2028).
The SOD and the LDS’s content are shown to be legitimate and undamaged using passive authentication (PA). Data that is stored in the memory of an RFID chip can be authenticated passively using the mechanism of a digital signature. It enables the detection of any alterations in signed data read from the RFID-chip memory but is unable to prevent their complete duplication (cloning of RFID-chip).
A set of cryptographic keys are necessary to use the digital signature process. The public key is used to verify the signature value and is distributed as a certificate. The private key is utilized to compute the digital signature and is only accessible to the signer.
As a result, there are two fundamental steps in the passive authentication process that must be controlled: the integrity of the document data informational groups and the validity of the document security object.
Japan, China, Singapore, India, and South Korea are among the Asia Pacific’s largest developing economies. The Indian government has implemented measures such as KYC to aid in the detection of identity fraud. Adhaar, India’s national ID scheme, reached one billion users in 2016. Furthermore, Adhaar ID was used by 1.2 billion people, with 99 percent of them being adults. In addition, the Indian government’s integration of the biometric digital ID ’Aadhaar’ into different initiatives and policies is a prime example of digital governance.
The China market dominated the Asia Pacific Passive Authentication Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $309.9 million by 2028.The Japan market is estimated to grow a CAGR of 20.5% during (2022 - 2028). Additionally, The India market would experience a CAGR of 22.1% during (2022 - 2028).
Based on Component, the market is segmented into Solution and Services. Based on Function, the market is segmented into Compliance Management, Marketing Management, Risk Management and Others. Based on Deployment, the market is segmented into On-Premise and Cloud. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Vertical, the market is segmented into BFSI, Healthcare, Government, Retail & Consumer Goods, Media & Entertainment, IT & Telecom and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cisco Systems, Inc., IBM Corporation, NEC Corporation, Fair Isaac Corporation (FICO), Experian PLC, Nuance Communications, Inc. (Microsoft Corporation), Equifax Inc., RSA Security LLC (Symphony Technology Group), and BioCatch Ltd.
Scope of the Study
Market Segments covered in the Report:
• Compliance Management
• Marketing Management
• Risk Management
By Organization Size
• Large Enterprises
• Small & Medium Enterprises
• Retail & Consumer Goods
• Media & Entertainment
• IT & Telecom
• South Korea
• Rest of Asia Pacific
• Cisco Systems, Inc.
• IBM Corporation
• NEC Corporation
• Fair Isaac Corporation (FICO)
• Experian PLC
• Nuance Communications, Inc. (Microsoft Corporation)
• Equifax Inc.
• RSA Security LLC (Symphony Technology Group)
• BioCatch Ltd.
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