Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Phone-based Authentication Market Report by Product Type (Single Factor Certification, Multifactor Certification), Application (Banking, Financial Services, And Insurance (BFSI) , Payment Card Industry (PCI), Government), and Region 2023-2028" report has been added to ResearchAndMarkets.com's offering.
This report highlights the expanding trajectory of the global phone-based authentication sector, with projections suggesting a significant growth pace set to endure through 2028. This surge is underpinned by the elevation of cybersecurity measures and innovation in secure user verification technologies.
Industries across various verticals are increasingly adopting phone-based authentication to fortify security frameworks and enhance user convenience. This strategic implementation is largely catalyzed by the escalating cybersecurity challenges that have become central to corporate risk management considerations.
Market Dynamics
Within this complex backdrop, single factor and multifactor certifications emerge as pivotal product types, with multifactor certification segments taking the lead. This indicates a trend towards heightened security protocols and reflects an industry gravitating towards a more layered approach to authentication.
The Banking, Financial Services, and Insurance (BFSI) sector particularly underscores the application segment, pointing to the criticality of secure transactions and the safeguarding of sensitive financial data. Similarly, the Payment Card Industry (PCI) and government applications follow suit, mapping onto the broader context of secure operations and privacy compliance.
Regional Market Insights
Regionally, North America has captured the largest market share, manifesting a robust ecosystem sustained by innovation, stringent cybersecurity policies, and an ingrained digital infrastructure. The significance of this market is expected to perpetuate, augmented by supportive regulatory frameworks and a sophisticated user base.
- United States
- Canada
Moreover, noteworthy advancements are also apparent across the Asia-Pacific region, with countries like China, Japan, and India stepping into the forefront of technological adoption. Europe follows closely, with a keen focus on data protection and security standards.
Competitive Landscape
The competitive landscape reveals a proactive environment where key players are pushing the boundaries of phone-based authentication. These developments underscore a dynamic market geared towards continual enhancements and strategic collaborations. The report abstracts the essence of the market movements and provides a comprehensive analysis of key players shaping the phone-based authentication space.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 147 |
| Forecast Period | 2022-2028 |
| Estimated Market Value (USD) in 2022 | $1 Billion |
| Forecasted Market Value (USD) by 2028 | $1.9 Billion |
| Compound Annual Growth Rate | 11.3% |
| Regions Covered | Global |
Companies Mentioned
- Cisco System Inc.
- Deepnet Security Limited
- Early Warning Services LLC
- Entrust Corporation
- Hid Global Corporation (Assa Abloy AB)
- OneSpan
- Swivel Secure Ltd.
- Telesign Corporation (BICS)
- Thales Group
For more information about this report visit https://www.researchandmarkets.com/r/rzzdb8
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