Global Risk Based Authentication Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Risk Based Authentication Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global risk based authentication market report has been segmented on the basis of component, technology type, application area, security policies, deployment mode, industry vertical, and region.
Global Risk Based Authentication Market: Overview
Risk based authentication is method of applying different stages of strictness to the confirmation procedures for offering higher safety and risk edge management with reduced costs. This risk based authentication is helpful for the organizations for maintaining the internal and external compliance principles such as FFIEC, PCI, HIPPA, and SOC. Risk based authentication is also helpful in strengthening traditional password based authentication and RSA Secure ID authentication. They offer different benefits to enterprises.
Global Risk Based Authentication Market: Dynamics
Rising instances of cyber-attacks coupled with increasing demand for mobility services are the major factors expected to drive the target market. In addition, increasing use of BYOD policies and mobile technology in the workplace are among other factors expected to drive the global risk based authentication market. However, lack of knowledge regarding risk-based authentication results and budget restrictions among small and medium sized organizations are some factors hampering the target market.
Furthermore, increasing demand for risk-based certification between industries is driven by continuous rise in a safety breaches, illegal events, and other number of dangers, are among the other factors expected to drive the growth of the target market.
Global Risk Based Authentication Market: Segment Analysis
On the basis of component, solution segment is likely to dominates the global market in terms of revenue share. Due to increasing adoption of risk-based authentication solutions among organizations to battle identity thefts and other innovative cyber threats and is the factor expected to drive the growth of solution segment.
On the basis of technology type, multi-factor authentication segment dominates the global market in terms of revenue. On the basis of deployment mode, cloud deployment mode policies segment dominates the global market in terms of revenue. Due to increasing adoption of cloud deployment type by SMEs as they offer solution which allows SMEs to focus on their core skills instead of financing their money in the security structure.
On the basis of industry vertical, retail segment dominates the global market in terms of revenue, due to growing mergers, acquisitions, ecommerce, and partnerships growth strategy in the retail industry vertical.
Global Risk Based Authentication Market: Regional Analysis
Currently, North America market accounts for largest share and is expected to drive growth over the forecast period. Due to huge presence of risk-based authentication solutions dealers in countries and is the factor expected to drive growth of the global risk based authentication market in this region. Asia Pacific market in likely to witness fastest growth in terms of growth revenue in the near future due to increasing spending for safeguarding user identities to prevent identity theft, is the factor driving growth of the target market in Asia Pacific region.
Global Risk Based Authentication Market Segmentation:
Segmentation by component:
- Managed Services
- Professional Services
- Training and Education
- Audit and Reporting
Segmentation by technology type:
- Multi-Factor Authentication
- Behavioral Biometrics
- Web Access Management (WAM)
Segmentation by deployment mode:
Segmentation by industry vertical:
- Banking, Financial Services, and Insurance (BFSI)
- Others (include, education, media and entertainment, and transportation and logistics)
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- International Business Machines Corporation
- CA Technologies
- Micro Focus International plc
- Okta, Inc.
- OneSpan SecureAuth
- RSA Security LLC
- Entrust Datacard Corporation
- Ping Identity Corporation
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