Dallas, Texas, Oct. 13, 2022 (GLOBE NEWSWIRE) -- The risk-based authentication service provides real-time payment options and online banking. This is one of the key drivers driving the global market expansion, along with the exponential increase in cyberattacks and data breaches aimed at seeing, copying, and stealing private information belonging to individuals, groups, private businesses, and governmental entities. In addition, RBA is increasingly being used in the healthcare, government, and retail industries for logging, monitoring systems, and providing endpoint protection. Risk-based authentication (RBA) describes a non-static authentication system that leverages the profile of the agent requesting access to the system in order to evaluate the risk associated with the transaction.
The RBA system examines attempts to access sensitive resources including applications and databases, among others. The need for digital channels is growing as customers interact with businesses and one another. Companies in the digital world are relying more and more on a web of technologies that are both on and off their networks in order to better serve their customers and run their operations. These systems support the management, archiving, and transmission of a variety of data, including bank accounts, intellectual property, personally identifiable information, transaction logs, and others.
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To further offset possible threats, top market participants are concentrating on product innovation and strategic alliances with technology vendors to offer cutting-edge RBA solutions and services, which are anticipated to support the global risk-based authentication market's growth. The increasing digitization of businesses throughout the world is one of the main drivers of the risk-based authentication (RBA) market. The global risk-based authentication market had a value of $4.95 billion and is projected to grow at a CAGR of 18.80% through 2029 to reach a value of $11.9 billion.
The multi-factor authentication segment dominates the global market in terms of revenue when categorized by technology type. In terms of revenue, the cloud deployment method policies sector leads the world market based on the deployment model.
Risk-Based Authentication Market Scope :
| Metrics | Details |
| Key Players | IBM, CA Technologies, Micro Focus, Gemalto, Okta, Vasco Data Security, Secureauth, Rsa Security, Entrust Datacard, Lexisnexis |
| By Component Overview | Component, Services |
| By Applications | Fraud Prevention, Cloud Application Security, IoT Security, Others |
| BY Technology | Multi-Factor Authentication, Behavioral Biometrics, Web Access Management |
| By Deployment | Clouds, Cloud-Based |
Since RBA provide a solution that enables SMEs to concentrate on their core competencies rather than financing their money in the security structure, cloud deployment types are becoming more and more popular among SMEs.
Currently holding the highest share, the North American market is anticipated to fuel expansion over the coming years. A large number of risk-based authentication solutions providers in various nations is the element anticipated to fuel the expansion of the global risk-based authentication market in this region. Due to rising expenditures for protecting user identities to prevent identity theft, the Asia Pacific market is expected to have the quickest development in terms of increasing revenue in the near future.
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In July 2021, RSA introduced SecurID App 3.0 to give iOS and Android consumers a next-generation end-user experience with numerous software tokens integrated into a single, simple-to-use SecurID App. With voice-over and speak-back for users who are blind, the SecurID App also offers increased accessibility.
Broadcom Inc. announced a partnership with CA Adapter in July 2021 to connect SiteMinder with an on-premises deployment of CA Strong Authentication and the adaptive authentication solution CA Risk Authentication.
Table of content:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Outlook
5. Risk-Based Authentication Market by Component
6. Risk-Based Authentication Market by Technology Type
7. Risk-Based Authentication Market by Application Area
8. Risk-Based Authentication Market by Deployment Mode
9. Risk-Based Authentication Market by Vertical
10. Risk-Based Authentication Market By Region
North America
U.S.
Canada
Europe
Germany
France
UK
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia Pacific
Middle East & Africa
Middle East
South Africa
Rest of Middle East & Africa
South America
Brazil
Mexico
Rest of South America
11. Competitive Landscape
12. Company Profiles
13. List of Figures
14. List of Tables
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