Advanced Authentication Market is expected to reach a USD 7 Billion by Forecast to 2023

Posted April 4, 2018 by Son1ane

Advanced Authentication Market, by Solution (Single-factor, Multi-Factor), by Product (Hardware, Software, Service) – Forecast to 2023

Market Highlights:
In today’s digital world, most of the transactions are being made online. Data security is a major concern for enterprises, government organizations, and individuals. Hackers are finding new ways to steal sensitive information from enterprises and daily users by developing new viruses. These factors are driving organizations to install advanced authentication solutions, which help in convenient and secure access to information. Advanced authentication adds an additional layer of security to standard username and password authentication method. Nowadays, cyber-criminal activities are increasing such as hacking of identity badges, and numeric pins, resulted in developing authentication techniques such as OTP (one-time password) authentication, phone-based authentication, and biometrics. These factors resulted to boost the growth of the global Advanced Authentication Market.
On August 08, 2017 WatchGuard, a leading provider of UTM (Unified Threat Management) & firewall hardware acquired Datablink Company, a leading provider of advanced authentication solutions. This acquisition extends WatchGuard’s security portfolio beyond network & wireless security, enabling the company to deliver advanced authentication to small & midsize businesses (SMB) and distributed enterprises.
The increasing security threats these days and BYOD (Bring Your Own Device) policy are the major factors that are driving the global advanced authentication market. Supportive government regulations and the ever-expanding usage of advanced authentication across different industry verticals are some other factors responsible for the rising demand for this particular market.
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Major Key Players:
• CA Technologies (U.S.)
• IBM Corporation (U.S.)
• HP ESSN (U.S.)
• CSC BSS (India)
• Oracle Corporation (U.S.)
• MasterCard Inc. (U.S.)
• Atos Corporation (France)
• Versasec AB (Sweden)
• Gemalto (the Netherlands)
• Datacard Group (U.S.)

The global advanced authentication market is segmented into solution, product, deployment, and end-users. The product segment is sub-segmented into software, hardware, and services. The hardware covers a wide range of hardware tokens, biometrics, smart cards, and others. The hardware token sometimes referred as security token. It is a physical device given to an authorized user of computer services to ease authentication. The hardware token is used in addition to or in place of a password to prove that the customer is genuine.

The token acts as an electronic key to access payment services. The biometrics is an authentication method that uses fingerprint, facial scans, and IRIS, or voice recognition technology to identify users. It is most often used as a form of authentication in a broader two-factor or multifactor authentication system since most biometric implementations also require employees to enter user IDs and passwords. Biometrics can be used for both physical access to corporate buildings and internal access to enterprise computers and systems.

Regional Analysis:
The global market is segmented on the basis of region into North America, Asia Pacific, Europe, and Rest of the world. North America leads the global advanced authentication market owing to concentration of leading players in this region.

In February 2017, Leadership Compass report from KuppingerCole, a leading analyst firm for identity and access management, named CA Technologies a Leader in adaptive authentication. EGNYTE (U.S.) an American software company, which provides software for enterprise file synchronization and sharing, is offering advanced authentication bundle that provides users EGNYTE account with additional control and security over user login and password management. These optional features help companies adhere to a higher standard of business regulations and compliance.

Europe holds the second position in the global advanced authentication market. In 2016, Gemalto (the Netherlands), an international digital security company, launched the Gemalto Assurance Hub, which is a revolutionary approach to fraud prevention in online banking. Powered by machine learning, Gemalto Assurance Hub analyses the profile and the behavior of customers in real time. The platform only activates additional authentication measures when required, providing a smooth user experience. Atos Corporation (France), a leading digital transformation company, is planning to launch a new ultra-secure authentication method in its Evidian Enterprise SSO solution. It now uses the Nymi Band, an authentication wristband based on a person's heartbeat, to enable Always-On-Authentication. In partnership with Nymi, the leader in wearable authentication devices and creator of the Nymi Band, Atos is now offering users a new way to securely access their data and critical applications via multi-factor authentication.

Since Asia Pacific is at a growing stage and moving towards digitalization, many of the market players like Mastercard, CA Technologies and others are expanding their operations in the Asian region.

By Solution:
• Single Factor Authentication
• Multi-Factor Authentication

By Deployment:
• On-Premise
• Cloud

By Product:
• Hardware
- Biometrics
- Smart cards
- Hardware Tokens
- Mobile Smart Credentials
• Software
• Services

By Industries:
• Government
• Retail
• Engineering & Utilities

By Region:
• North America
• Europe
• Asia Pacific
• Rest of the world

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Intended Audience:
• Software Developers
• Testing
• Cloud Providers
• Banks
• Database Solutions
• IT Enablers

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Last Updated April 4, 2018