A recent report by Allied Market Research states that advanced authentication in financial services market has accumulated $4.6 billion in revenue in 2021, and is projected to grow at a Compound Annual Growth Rate (CAGR) of 15.3% from 2022 to 2031, reaching a total revenue of $18.5 billion by 2031. The report offers an in-depth analysis of the market’s ever-changing dynamics, key segments, value chain, competitive environment, and regional outlook. This research provides useful guidance to established players, investors, shareholders, and startups in developing strategies for sustainable growth and gaining a competitive edge in the market.
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Covid-19 Scenario:
- The COVID-19 outbreak had a moderate impact on the global advanced authentication in financial services market. During the pandemic, people started wearing face masks and avoided touching any surface due to the fear of virus. As a result, demand for various devices such as fingerprint biometrics, vein recognition, and others decreased significantly.
- However, demand for other biometric devices such as face recognition and iris recognition increased because they require zero touch and provide accurate authentication without the spread of viruses, resulting in advanced authentication in the financial services market growth.
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The research provides detailed segmentation of the global advanced authentication in financial services market based on type, enterprise size, authentication method, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on type, the multi factor authentication segment held the highest share in 2021, accounting for nearly three-fifths of the global advanced authentication in financial services market and is expected to continue its leadership status during the forecast period. The same segment is expected to showcase the highest CAGR of 17.5% from 2022 to 2031. The report also discusses the single factor authentication segment.
Based on enterprise size, large enterprises segment accounted for the highest share in 2021, contributing to around two-thirds of the global advanced authentication in financial services market, and is expected to maintain its lead in terms of revenue during the forecast period. Moreover, small and medium sized enterprises segment is expected to manifest the highest CAGR of 18.5% from 2022 to 2031.
Based on authentication method, the biometrics segment held the highest share in 2021, accounting for nearly half of the global advanced authentication in financial services market and is expected to continue its leadership status during the forecast period. Furthermore, the others segment is expected to register the highest CAGR of 18.8% from 2022 to 2031.
Based on region, North America held the largest share in 2021, contributing to nearly two-fifths of the global advanced authentication in financial services market. On the other hand, Asia-Pacific is projected to maintain its dominant share in terms of revenue in 2031. In addition, the same region is expected to manifest the fastest CAGR of 19.1% during the forecast period. The report also analyzes Europe and LAMEA regions.
Leading market players of the global advanced authentication in financial services market analyzed in the research include Thales, ValidSoft Group, Broadcom Inc., Absolute software corporation, mastercard, NEC Corporation, Dell Inc., SecurEnvoy Ltd, Ping Identity, and Fujitsu.
The report provides a detailed analysis of these key players of the global advanced authentication in financial services market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Key benefits for stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the advanced authentication in financial services market forecast from 2021 to 2031 to identify the prevailing market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities of advanced authentication in financial services market overview.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the advanced authentication in financial services market segmentation assists in determining the prevailing advanced authentication in financial services market opportunity.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes an analysis of the regional as well as global advanced authentication in financial services market trends, key players, market segments, application areas, and market growth strategies.
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Advanced Authentication in Financial Services Market Key Segments:
Type
- Single-factor Authentication
- Multi-factor Authentication
Enterprise Size
- Large Enterprises
- Small and Medium-sized Enterprises
Authentication Method
- Biometrics
- Smart Cards
- Mobile Smart Credentials
- Others
By Region
- North America (U.S., Canada)
- Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
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