Dublin, May 13, 2024 (GLOBE NEWSWIRE) -- The "Global Advanced Authentication Market (2024 Edition): Analysis By Deployment (Cloud and On-Premise), By Authentication Method, By End Use Industry, By Region, By Country: Market Insights and Forecast (2020-2030)" report has been added to ResearchAndMarkets.com's offering.
The Global Advanced Authentication market showcased growth at a CAGR of 10.59% during 2020-2023. The market was valued at USD 4374.31 Million in 2023 which is expected to reach USD 11798.05 Million in 2030. This report provides insights for the historical period of 2020-2023, the estimates of 2023 and the forecast period of 2025-2030.
Cyberattacks are becoming increasingly sophisticated and prevalent, targeting organizations of all sizes and industries. These attacks include phishing, ransomware, data breaches, and identity theft. Advanced authentication solutions provide an extra layer of security that can help prevent unauthorized access to sensitive data and systems, mitigating the risk of cyber threats.
Additionally, due to proliferation of remote work arrangements and the bring-your-own-device (BYOD) trend have expanded the attack surface for cybercriminals. Employees accessing corporate networks and data from various locations and devices increase the risk of unauthorized access and data breaches. Advanced authentication solutions enable organizations to enforce secure access controls and authentication policies, regardless of the user's location or device, thereby enhancing overall cybersecurity posture.
One of the primary drivers of demand for advanced authentication solutions in the context of cloud adoption is security concerns. Cloud environments introduce new security challenges, including unauthorized access, data breaches, and insider threats. Organizations are increasingly recognizing the need for additional security measures to protect sensitive data and applications stored in the cloud. Advanced authentication solutions, such as multi-factor authentication (MFA), biometric authentication, and adaptive authentication, play a crucial role in mitigating these risks by providing additional layers of security beyond traditional password-based authentication methods.
Cloud adoption enables employees to access corporate data and applications from anywhere, using any device with an internet connection. While this increased flexibility and mobility can enhance productivity, it also requires robust access controls to ensure that only authorized users can access sensitive information. Advanced authentication solutions help enforce access policies and authentication mechanisms tailored to the unique requirements of cloud-based environments. Role-based access controls, identity federation, and strong authentication mechanisms help organizations maintain control over who can access cloud-based resources and data.
Additionally, Effective identity and access management (IAM) are critical components of cloud security. Cloud adoption necessitates IAM solutions that can manage user identities, permissions, and privileges across distributed cloud environments. Advanced authentication technologies, such as single sign-on (SSO), federated identity management, and adaptive authentication, play a crucial role in IAM strategies by providing seamless and secure access to cloud-based resources.
These solutions enhance user experience while improving security posture by ensuring that only authorized users can access sensitive data and applications in the cloud. Advanced authentication solutions help organizations achieve compliance by implementing robust authentication mechanisms and access controls that meet regulatory requirements. By ensuring compliance with these regulations, organizations can avoid costly fines and penalties associated with non-compliance.
Total transaction value is expected to show an annual growth rate of 9.52% CAGR resulting in a projected total amount of US 16.62 trillion by 2028. The market's largest market is Digital Commerce with a projected total transaction value of USD 7.63 trillion in 2024. As online and mobile transactions become more prevalent, the need for secure authentication methods becomes paramount. Traditional authentication methods like passwords are no longer sufficient to protect against the growing sophistication of cyber threats. Consequently, there is a higher demand for advanced authentication solutions such as multi-factor authentication (MFA), biometrics, and adaptive authentication to provide stronger security measures for online and mobile transactions.
Furthermore, with the rise in online and mobile transactions, there is a parallel demand for authentication solutions that are not only secure but also user-friendly. Consumers expect seamless and convenient authentication experiences that do not compromise security. This has led to the development of advanced authentication technologies such as biometrics (e.g., fingerprint recognition, facial recognition) and behavioural analytics, which offer a balance between security and user convenience.
The growth in online and mobile transactions also increases the risk of fraud and identity theft. Cybercriminals target these transactions to steal sensitive information or carry out fraudulent activities. Advanced authentication solutions help mitigate these risks by providing additional layers of security, such as biometric verification or transaction monitoring, to detect and prevent unauthorized access and fraudulent transactions.
Scope of the Report
- The report analyses the Advanced Authentication Market by Value (USD Million).
- The report analyses the Advanced Authentication Market by Region (Americas, Europe, Asia Pacific, Middle East & Africa) and 10 Countries (United States, Canada, Brazil, Germany, United Kingdom, France, Italy, China, Japan, India).
- The report presents the analysis of Advanced Authentication Market for the historical period of 2020-2023, the estimated year 2024 and the forecast period of 2025-2030.
- The report analyses the Advanced Authentication Market By Deployment (Cloud and On-Premise)
- The report analyses the Advanced Authentication Market By Authentication Method (Biometrics, Smartcards, Multi Factor Authentication, Token Based Authentication and Other Authentication Methods).
- The report analyses the Advanced Authentication Market By End Use Industry (BFSI, Retail and E-Commerce, Healthcare, Government and Defense and Other End Use Industries).
- The key insights of the report have been presented through the frameworks of SWOT and Porter's Five Forces Analysis. Also, the attractiveness of the market has been presented by region, By Products, by mode of operation & by end users.
- Also, the major opportunities, trends, drivers, and challenges of the industry has been analysed in the report.
- The report tracks competitive developments, strategies, mergers and acquisitions and new product development.
Analyst Recommendations
- Adoption of Multi Factor Authentication
- Integration of Machine Learning and Artificial Intelligence Technologies
Competitive Positioning
- Companies' Deployment Positioning
- Market Position Matrix
- Market Share Analysis of Advanced Authentication Market
Company Profiles
- Microsoft Corporation
- NEC Corporation
- Fujitsu Limited
- Broadcom Inc.
- IBM Corporation
- Cisco Systems Inc.
- Thales Group
- Okta Inc.
- Yubico AB
- Ping Identity Holding Corporation
For more information about this report visit https://www.researchandmarkets.com/r/mwvwwg
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