The size of the global market for Risk-Based Authentication is expected to reach US$ 5.91 Bn by 2027, expanding at a compound annual growth rate (CAGR) of 15%.
Factors such as the increase in security breaches in the end-users have led to the growth in the market and the increase in Internet of Things devices has further influenced the growth market.
Risk-Based Authentication has increased drastically with technology and communication which is a major concern for the rise in the market. Businesses are adopting a large number of automating Components to enable a better flow of work processes. In an organization, it becomes difficult to manage people and businesses, and they are increasingly dependent on web systems, they are dependent on manage, store handle accounts, etc. So the business is securing the system from thefts and cyberattacks to protect the organization's data.
Risk-Based Authentication Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2027||US$ 5.91 Bn|
|Growth Rate||CAGR of 15 % during 2021-2027|
|Segment Covered||Development, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||IBM, Broadcom, Micro Focus, Okta, Gemalto, Vasco Data Security, Secureauth, Rsa Security, Entrust Datacard, Lexisnexis, Gurucul, Equifax, Ping Identity, Forgerock, Onelogin, Centrify, Crossmatch, Biocatch, Oracle|
Key Segments of the Global Global Risk-Based Authentication Market
Component Overview, 2018-2028 (USD Million)
Technology Type, 2018-2028 (USD Million)
- Multi-Factor Authentication
- Behavioral Biometrics
- Web Access Management
Application Area, 2018-2028 (USD Million)
- Fraud Prevention
- Cloud Application Security
- IoT Security
Deployment Mode, 2018-2028 (USD Million)
Industry Vertical, 2018-2028 (USD Million)
- Travel and Hospitality
- Healthcare and Life Sciences
- Service Providers
- Transportation and Logistics
- Government and Public Sector
- Other Verticals
Regional Overview, 2018-2028 (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- Middle East
- South Africa
- Rest of Middle East and Africa
- Latin America
- Rest of Latin America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global Global Risk-Based Authentication Market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global Global Risk-Based Authentication Market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the Risk-Based Authentication industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on Component, Technology Type, and end-user. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global Global Risk-Based Authentication Market. The report will benefit:
- Every stakeholder involved in the Global Risk-Based Authentication Market.
- Managers within the Tech companies looking to publish recent and forecasted statistics about the global Global Risk-Based Authentication Market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global Global Risk-Based Authentication Market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
With the growth in the adoption of automation Components, the market is increasing drastically. Also with the increase in the adoption of cloud-based Components and the huge shift from traditional storage systems to cloud-based Components has further influenced the growth of the market. Organization across various domains are having risk from cyber attacks. The risk of loss of data is high for government, healthcare, manufacturing, and other verticals.
The Risk-Based Authentication market is segmented into Solutions and Services. The services segment will grow at the highest CAGR in the forecast period as the risk of cyber attacks have increased drastically.
The service segment is divided into Multi-Factor Authentication service, Behavioral Biometrics Service, and Web Access Management. Behavioral Biometrics will have the highest CAGR in the forecast period as helps in reducing the cost in the market
The location segment is divided into Fraud Prevention, Cloud Application Security, IoT security, and others segment. IoT Security will have the highest largest market share due to the rise in IoT Devices.
The organization segment is divided into On-premise and Cloud. Cloud will have the highest market size due to the adoption of this technology in recent years.
The vertical segment is divided into is segmented into BFSI, education, manufacturing, service provider, and various other verticals. BFSI is expected to grow at the highest market size in the forecast period as online banking has increased in recent years which has led to the adoption of the market.
The Risk-Based Authentication Market is divided into a wide range to North America, Europe, APAC, the Middle East and Africa, and Latin America. North America is expected to have the highest market size due to the presence of a large number of companies in the market.
The major players of the Risk-Based Authentication Market are IBM, CA Technologies, Micro Focus, Okta, Gemalto, and many other players who are the leading players in the growth of the market.