Passive Authentication Market Expected to Reach $4,093 Million by 2027-Allied Market Research

Rise in demand for passive authentication in modern-day businesses, improvement in user accessibility, and time-saving benefits are factors that drive the growth of the global passive authentication market.

However, issues regarding data confidentiality hinder the market growth. On the other hand, advanced passive authentication techniques and rise in issues of fraud detection and identification create new opportunities in the coming years.

Download Sample Report (Get Full Insights in PDF – 315 Pages) at: https://www.alliedmarketresearch.com/request-sample/11462

According to the report, the global passive authentication industry generated $796 million in 2019, and is estimated to reach $4.09 billion by 2027, witnessing a CAGR of 22.7% from 2020 to 2027.

Based on industry vertical, the BFSI segment contributed to the largest share in 2019, accounting for nearly two-fifths of the global passive authentication market, and will maintain its dominant share in terms of revenue during the forecast period.

This is due to increase in prevalence of cyber-crimes and rise in demand for data security worldwide. However, the healthcare segment is projected to register the highest CAGR of 27.8% from 2020 to 2027. This is attributed to integration of digital technologies in the sector that gave a huge scope to effective authentication methods.

Based on component, the solution segment held the highest market share in 2019, accounting for nearly three-fifths of the global passive authentication market, and is estimated to maintain its lead position throughout the forecast period.

This is due to rapid technological advancements such as emergence of voice and facial biometrics for authentication and fraud prevention. However, the services segment is expected to portray the highest CAGR of 23.2% from 2020 to 2027, owing to a significant rise in cyber-crimes.

Based on region, North America accounted for the highest share in terms of revenue in 2019, contributing to nearly two-fifths of the global passive authentication market, and will continue its leadership status by 2027.

For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/11462

This is attributed to rapid adoption of biometrics, behavioral analytics, and mobile technology. However, Asia-Pacific is estimated to witness the fastest CAGR of 24.8% during the forecast period, owing to increase in enterprises across the region that led to the need for effective security solutions.

Covid-19 Scenario:

  • The need for passive authentication increased during the Covid-19 pandemic with adoption of the “work from home” strategy in organizations. Many organizations experienced process and security vulnerabilities in the remote working setting as cyber-attacks increased.
  • In addition, cyber threats, data thefts, and phishing attacks rose across the world during the pandemic. This gave rise to increased implementation of advanced passive authentication techniques.
  • Many market players launched advanced authentication techniques and identify verification factors that offer ease in use and convenience to users.

Leading market players

  • NEC Corporation
  • IBM Corporation
  • Cisco Systems Inc.
  • Gemalto
  • FICO
  • RSA Security LLC
  • Experian plc
  • Equifax Inc.
  • Nuance Communications Inc.
  • BioCatch Ltd.

Thanks for reading this article; you can also get an individual chapter-wise section or region-wise report versions like North America, Europe, or Asia.

If you have any special requirements, please let us know and we will offer you the report as per your requirements.

Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

Similar Reports:

  1. Authentication Service Market

2. Digital Identity Solution Market

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data companies of the domain concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll-Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter

Leave a comment

Your email address will not be published.