PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1251561
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1251561
Global Advanced Authentication Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than 20.3% over the forecast period 2022-2029. Advanced Authentication uses biometrics, smart card, and mobile smart credentials methods to greatly enhance the authentication process for system and data security. Advanced authentication makes it more difficult for a threat hacker to impersonate a legitimate user and get into the system. Advanced Authentication is greatly practised in public sector enterprises for the security of data and information. Advanced authentication such as biometrics systems allows public sector enterprises to verify the identity of the system users and protect the system from prevailing threats of hacking and fraud. Passwords and fingerprints are some common factors used for authentication purposes. Increasing data breaches, growing demand for authentication and identification increasing innovations in advanced authentication methods, and a growing number of hackers are the major factors driving the growth of the Advanced Authentication Market.
An increasing number of hackers led to an increase in data breaches. According to the Research Department, during the third quarter of 2022, around 15 million database files were leaked globally through data breaches, experiencing an increase of 37% in the next quarter. The market for biometric authentication and identification, which was estimated to be worth over 3.5 billion dollars in 2020, is most valuable to public sector businesses. According to Justina-Alexandra Sava (a research expert in the global IT security market), the market for authentication and identification is expected to grow to around $8.8 billion in the forecast period. Increasing data breaches and growing demand for authentication and identification are the major factors contributing to the growth of the market. Another important component driving market increase is Increasing innovations in advanced authentication methods, and a growing number of hackers. Furthermore, growing digital transformation and increasing demand for cloud-based services are the factors creating major market opportunities in the forecast period. However, the Obligation for continuous innovation stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Advanced Authentication Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, and development of government owing to the dominance of hacking incidents and the region's increasing demand for authentication. Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising cyber-attacks on government and increasing demand for authentication. For Instance, according to Leander von Kameke (Research Expert), in September 2018, there were around 34% of service-specific attacks in the region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Authentication method offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable