it is expected that the Advanced Authentication Market will grow at a CAGR of 16.95% for the period 2017-2022.
Global Advanced Authentication Market is the provider of solutions to the threats of information breaches and hacking of data due to inefficient data security systems. The loss of data due to stealing of information by hackers and leakages in the information systems of the companies has led to the rapid adoption of this technology across all the sectors.
Also with the increasing number of people switching to online transactions, e-banking and e-commerce, it becomes extremely critical to provide a secure gateway for such operations. The basic traditional methods of security using passwords are becoming out-dated.
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They are being replaced by smartcards, hardware OTP authentication,biometrics, tokens and many such other security measures. These measures are used for owner identification using advanced technology such as retina and fingerprint scanning, voice recognition and facial scans.
The need to access data from any part of the world makes it even more important for companies to give access rights to employees, stakeholders, and partners all around the globe. And with the increasing trend of BYOD (Bring Your Own Device), employees can access organization data through their personal devices. Hence proper authentication becomes a serious concern to protect these organizations from cybercrimes.
The end users of the global advanced authentication market include small and medium scaled enterprises, large-scale industries, homeland security services, government organizations and national research centres. In the financial sector, banks are the primary users of this system. The Military also uses authentication system to keep safe the information of national importance.
Continuous breaches in the security of the organization and regular attacks on the personal accounts of people are leading to the increasing use of Global Advanced Authentication systems. Governments of countries are spending a huge amount in research and development and supporting this technology through regulations across various verticals. With the rapid expansion of this sector,
The Global Advanced Authentication Market is segmented into the following categories:
1. Solution – Single and Multi-Factor Authentication
2. Deployment – Cloud and On-Premise
3. Industry – Retail, Government, Engineering, BFSI
4. Hardware – Smartcards, Biometrics, Tokens, Mobile Smart Credentials
5. Audience – Banks, Cloud Providers, IT Industry, Software developers, Military
The global market for the advanced authentication market mainly includes North America, Asia Pacific, Europe and the rest of the world. The biggest player is North America due to its technological advancement and presence of large tech companies in the region.
The next place is held by Europe, where digital security and fraud prevention is on the rise. Companies like Atos Corporation (France), Gemalto Assurance Hub and Nymi in Europe provide solutions to authentication issues. Lastly, due to emerging digitalization, Asia is also adopting measures for advanced authentication.
The major players in this field areOracle Corporation,IBM Corporation,Versasec AB,Safran, Suprema HQ Inc, Fujitsu, NEC Corporation, Gemalto, and RSA Security. There are some other vendors like CJIS Solutions, NetMotion Wireless, VASCO Data Security International Inc., ValidSoftand WideBand Corporation.
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