Global risk-based authentication market stood at $ 2.3 billion and is projected to grow at a CAGR of more than 18.8% to reach $ 6.5 billion by 2024
Apr 22, 2019, 12:53 ET
NEW YORK, April 22, 2019 /PRNewswire/ -- Global Risk-based Authentication Market By Component (Solution & Services), By Technology (Multi-Factor Authentication, etc.), By Security Policies (Device-Based Policies, etc.), By Deployment, By Application, By End-User, By Region, Competition, Forecast & Opportunities, 2024
Read the full report: https://www.reportlinker.com/p05770074/?utm_source=PRN
Global risk-based authentication market stood at $ 2.3 billion and is projected to grow at a CAGR of more than 18.8% to reach $ 6.5 billion by 2024 on account of surging enterprise breaches and increasing adoption of risk-based authentication solutions in various industries such as BFSI, healthcare, etc. Moreover, rising number of connected devices backed by growing demand for mobility solution along with rising inclination towards the concept of BYOD is further contributing to the growth of global risk-based authentication market. Risk-based authentication system takes into consideration the profile of the agent requesting access to the particular system so as to reduce the risk profile associated with that transaction.
Global risk-based authentication market can be categorized based on component, technology, security policies, deployment, application, end-user and regional analysis.Based on the component, the market can be bifurcated into solution and services, of which solution segment is dominating the market as this segment helps enterprises to identify and authenticate customers and protect customers' data.
Global risk-based authentication market caters to various end-users such as BFSI, healthcare, government, retail and others. Owing to increasing fraudulent activities and surging instances of cyber-attacks, BFSI was the largest segment in 2018, and is likely to continue its leading position during forecast period as well.
Regionally, the market for risk-based authentication is gaining traction and expanding to various regions including Asia-Pacific, North America, Europe, South America and Middle East & Africa.North America is expected to dominate the market during the forecast period due to elevating need to meet the compliance requirements for protecting user identity.
However, Asia-Pacific is expected to grow at a high rate during forecast period owing to high security spending by organizations in countries such as China, India, Japan, etc.
Major players operating in global risk-based authentication market include International Business Machines Corporation, Micro Focus International plc, CA, Inc., RSA Security LLC, Okta, Inc., etc. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments. For instance, IBM offers risk-based authentication solutions by bringing together IBM Trusteer Pinpoint Detect and IBM Security Access Manager. The solution assesses high-risk factors, analyzes session information and protects against fraudulent transactions.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024
Objective of the Study:
• To analyze and forecast the market size of global risk-based authentication market.
• To classify and forecast global risk-based authentication market based on component, technology, security policies, deployment, application, end-user and regional distribution.
• To identify drivers and challenges for global risk-based authentication market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global risk-based authentication market.
• To identify and analyze the profile of leading players operating in global risk-based authentication market.
Some of the leading players in global risk-based authentication market are include International Business Machines Corporation, Micro Focus International plc, CA, Inc., RSA Security LLC, Okta, Inc., etc.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of service providers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the service providers which could not be identified due to the limitations of secondary research. The analyst analyzed the service offerings, distribution channels and presence of all major service providers across the globe.
The analyst calculated the market size of global risk-based authentication market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Risk-based authentication hardware, software and service vendors
• Defense organizations
• Research organizations and consulting companies
• Value added resellers
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to risk-based authentication
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, global risk-based authentication market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, By Component:
o Solution
o Services
Managed
Professional
• Market, By Technology:
o Multi-Factor Authentication
o Behavioral Biometrics
o Web Access Management
• Market, By Security Policies:
o Device-Based Policies
o Attribute-Based Policies
o Behavior Policies
o Resource-Based Policies
o Network and Browser-based Policies
• Market, By Deployment:
o Cloud
o On-premise
• Market, By Application:
o Fraud Prevention
o Cloud-Application Security
o IoT Security
o Others
• Market, By End-User:
o BFSI
o Healthcare
o Government
o Retail
o Others
• Market, By Region:
o North America
United States
Mexico
Canada
o Europe
United Kingdom
France
Russia
Germany
Italy
o Asia-Pacific
China
Japan
South Korea
India
Australia
o Middle East & Africa
Egypt
Saudi Arabia
South Africa
UAE
o South America
Brazil
Argentina
Colombia
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global risk-based authentication market.
Available Customizations:
With the given market data, we offers customizations according the company's specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p05770074/?utm_source=PRN
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
Contact Clare: clare@reportlinker.com
US: (339)-368-6001
Intl: +1 339-368-6001
SOURCE Reportlinker
