Passive Authentication Market 2021: Global Market Research report covers a detailed study of the Market size, growth, and share and Forecast 2030 with Top Countries Data

In a recent published report, Kenneth Research has updated the market report for Passive Authentication Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

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U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Passive Authentication Market products.

Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.

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Market Synopsis

The global passive authentication market is expected to grow at a CAGR of 22.6% during the forecast period and reach $1351.3 million by 2023.Enterprises install Context Directory Agent (CDA) in the enterprise network to collect user identity information. This information is collected when users log into the network. This type of identity mapping is considered passive identity mapping. With passive authentication, the user identity is obtained by checking a mapping of IP addresses to user identity. Authentication is passive because the user is not prompted to provide credentials.

The Final Report will cover the impact analysis of COVID-19 on this industry:

The major factor contributing to the market growth is the increasing demand for seamless authentication process from enterprises acrosssectors. Another factor is the increasing demand from enterprises to deliver enhanced user experience. The concerns regarding the privacy of biometrics are proving to be a restraint for this market. The market has various opportunities such as increasing adoption of the biometric technology for authentication and fraud detection. Along with this, Artificial Intelligence (AI) is increasingly being implemented for authentication. The acceptance of Internet of Things (IoT) in all industry verticals is also expected to be a lucrative opportunity for the passive authentication market.

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Segmentation

The global passive authentication market has been segmented based on component, deployment mode, organization size, vertical and region/country.

By component, the global passive authentication market has been segmented into solution and services.

By deployment mode, the global passive authentication market has been segmented into on-premises and cloud.

By organization size, the global passive authentication market has been segmented into small and medium-sized enterprises (SMEs) and large enterprises.

By vertical, the global passive authentication market has been segmented into banking, financial services and insurance (BFSI), healthcare, telecommunication and IT, government, retail and consumer goods, media and entertainment, and others.

By region, the global passive authentication market has been segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.

Regional analysis

The global market for passive authentication is expected to grow at a CAGR of 22.6% during the forecast period and reach $1351.3 million by 2023. The geographical analysis of the passive authentication market is studied for North America, Europe, Asia-Pacific, Middle East, Africa, and Latin America.

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Among the regions mentioned, the market in North America is anticipated to have the largest market share during the forecast period. High demand from technologically advanced industries such as BFSI and Telecom and IT, and high adoption of biometrics, behavioral analytics, and mobile technology in North America are expected to boost the growth of the passive authentication market. In terms of market size, the market in Europe is expected to follow North America.

The increasing demand for advanced authentication solutions among enterprises in Europe and the expansion of various US-based passive authentication software companies in Europe are the main factors for fueling the market growth in the region. The market in Asia-Pacific is expected to have the fastest growth rate as the demand is projected to rise more than the global CAGR of 22.6% during the forecast period of 2018 to 2023.

The developing countries such as India and China are driving the growth of the passive authentication market with unceasing demand across sectors such as BFSI, IT and telecom, manufacturing, and retail. Latin America, andMiddle East & Africa are anticipated to offer numerous opportunities for the vendors as the majority of the countries are yet to adopt passive authentication solutions.

Competitive Analysis

The passive authentication market witnesses the presence of a number ofvendors from the US which is intensifying the competition in the North American market. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries by adopting various organic and inorganic growth strategies. For instance, in December 2018, NEC Corporation acquired KMD, which is a major player in Denmark and also has a strong customer base. Another instance is the acquisition of US-based Duo Security, a company specialized in unified access security and multi-factor authentication, by Cisco Systems, Inc. in August 2018.

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Key Players

The key players in the passive authentication market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are NEC Corporation (Japan), IBM Corporation (US), Cisco Systems, Inc. (US), Gemalto (Netherlands), Fair Isaac Corporation (US),  Dell Technologies (US), Experian PLC (Ireland), Equifax Inc. (US), Verint Systems (US), Nuance Communications, Inc. (US), Veridium Ltd (US), OneSpan Inc. (US), Aware, Inc. (US), Jumio (US), and Mastercard Technologies (Canada). The key strategies adopted by most of the players are partnerships, agreements, collaborations, and product releases.

Intended Audience

Passive authentication solution providers

Authentication services providers

System integrators

Cloud services providers

Government organizations

Resellers and distributors

Investors and venture capitalists

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Darlene Dooley is a research expert and freelance writer. She is very dedicated towards her work and writing. She enjoys to write on current news on any industry and conclude the news with highly professional report. She has almost 8 years of experience in the same field. She has strong professional skill in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.

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