PUBLISHER: The Business Research Company | PRODUCT CODE: 1484832
PUBLISHER: The Business Research Company | PRODUCT CODE: 1484832
Mobile user authentication refers to the process of confirming a user's identity on their mobile device before granting access to an account or system. It's a crucial aspect for organizations engaged in mobile-based business transactions or managing customer accounts via mobile platforms.
The primary types of mobile user authentication include biometric authentication, multi-factor authentication (MFA), knowledge-based authentication (KBA), and others. Biometric authentication verifies a user's identity based on unique physical or behavioral traits such as fingerprints, facial features, or voice patterns. This method finds applications in various sectors including banking, financial services, insurance, consumer electronics, government, telecommunications, healthcare, manufacturing, and more. It can be implemented via cloud-based or on-premises authentication systems, catering to small and medium-sized enterprises (SMEs) as well as large enterprises.
The mobile user authentication market research report is one of a series of new reports from The Business Research Company that provides mobile user authentication market statistics, including mobile user authentication industry global market size, regional shares, competitors with a mobile user authentication market share, detailed mobile user authentication market segments, market trends and opportunities, and any further data you may need to thrive in the mobile user authentication industry. This mobile user authentication market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The mobile user authentication market size has grown rapidly in recent years. It will grow from $3.06 billion in 2023 to $3.66 billion in 2024 at a compound annual growth rate (CAGR) of 19.6%. The expansion observed in the historical period can be attributed to several factors. These include the increasing adoption of smartphones and tablets, a rise in mobile transactions, the growing prevalence of remote work and mobile workforce practices, as well as the emergence of mobile payment apps and digital wallets.
The mobile user authentication market size is expected to see rapid growth in the next few years. It will grow to $7.51 billion in 2028 at a compound annual growth rate (CAGR) of 19.7%. The anticipated growth in the forecast period can be attributed to several key factors. These include the increasing adoption of mobile devices, rapid digital transformation across industries, the rising concerns regarding cybersecurity threats, the expansion of Internet of Things (IoT) devices, and the demand for frictionless authentication methods. Major trends expected in the forecast period include the dominance of biometric authentication methods, the adoption of behavioral biometrics for enhanced security, the implementation of zero trust security frameworks, the utilization of blockchain-based authentication solutions, and the integration of artificial intelligence (AI) and machine learning (ML) technologies to bolster authentication processes.
The projected growth of mobile user authentication is being propelled by the escalating cybersecurity threats. Cybersecurity threats encompass potential risks to computer systems, networks, and data, posing dangers such as unauthorized access, data breaches, and information loss. The upward trend in cybersecurity threats can be attributed to factors including heightened connectivity, data monetization, remote work practices, sophisticated attack methodologies, and a lack of awareness. Mobile user authentication plays a pivotal role in cybersecurity by mitigating various threats such as password theft, phishing attacks, man-in-the-middle (MitM) attacks, device theft or loss, data breaches, and unauthorized access to applications. For instance, data from the Australian Cyber Security Centre in November 2022 indicated a significant increase in cybercrime reports, reaching 76,000, up by 13% from the previous year. Consequently, the escalating cybersecurity threats serve as a driving force behind the growth of the mobile user authentication market.
Leading players in the mobile user authentication market are strategically focusing on developing innovative technologies such as TruSense to cater to the growing demand. TruSense represents a digital identity and security service comprising a suite of solutions and technologies aimed at verifying and safeguarding the identities of individuals and entities in digital environments. For instance, in February 2023, Route Mobile Limited, an India-based cloud communications platform service provider, unveiled TruSense, a state-of-the-art digital identity and security service designed to secure digital transactions within a reliable ecosystem. This innovative solution enables businesses to authenticate end-users seamlessly while ensuring secure authentication, reliable identity verification, and intelligent fraud detection. Leveraging artificial intelligence (AI) and machine learning (ML) for real-time risk assessment, TruSense facilitates seamless identity verification against authorized third-party data, offering versatile solutions for digital identity and security across various applications.
In February 2024, SecureAuth Corp., a US-based identity management and IT services company, finalized the acquisition of Cloudentity for an undisclosed sum. This strategic move underscores SecureAuth's commitment to bolstering its position in the Identity and Access Management (IAM) market by offering a comprehensive suite of tools for securing access in today's complex digital landscape. Cloudentity, a US-based cloud-based provider of identity-aware authorization and application security solutions, brings valuable expertise and resources to SecureAuth, enabling the company to enhance its capabilities in securing data exchange and ensuring compliance with regulations such as open banking. Through this acquisition, SecureAuth aims to consolidate its leadership in the IAM market and address the evolving cybersecurity landscape effectively.
Major companies operating in the mobile user authentication market are Apple Inc, Google LLC, Microsoft Corporation, International Business Machines Corporation, Broadcom Inc, Gemalto NV, Entrust Datacard Corporation, HID Global, Avast Antivirus, RSA SecurID, BlackBerry Limited, CyberArk Software Inc, ESET s.r.o, Ping Identity Corporation, OneSpan, ForgeRock Inc., MobileIron Inc, Centrify Inc, SecureAuth Corporation, Duo Security, CA Technologies, BIO-key International, Authentify Inc, Veridium, TeleSign
Asia-Pacific was the largest region in the mobile user authentication market in 2023. The regions covered in the mobile user authentication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the mobile user authentication market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The mobile user authentication market consists of revenues earned by entities providing services such as password-based authentication, biometric authentication, two-factor authentication, multi-factor authentication, openID connect, token-based authentication, and mobile device management. The market value includes the value of related goods sold by the service provider or included within the service offering. The mobile user authentication market also includes sales of authentication servers, token tools, authentication APIs, biometric sensors, risk analysis engines, and network security tools. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Mobile User Authentication Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on mobile user authentication market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for mobile user authentication ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The mobile user authentication market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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