There has been a rise in the market due to the adoption of mobility solutions and BYOD trends across various verticals across the world. With the increase of data storage, the risk of security of data and cyber attacks have increased leading to the organization adopting the market in the next five years.
The Risk-Based Authentication Market size is expected to have a market size of USD 12.8 Billion by 2028. The factors such as increasing Regulations and Compliances from the government and Increasing Instances of Cyber-Attacks and Data Breaches in Enterprises have led to the rise in the market.
There has been a rise in connected devices and IoT devices which has further influenced the market for growth in the coming years. With the rise in data across organizations especially government and hospitals, the risk of a data breach and cyber-attacks have increased drastically.
Password protection has been the traditional source of authentication. Companies have been protecting data through this single gateway as there is a high risk of loss of authenticity of data. The organization is now moving its data from traditional sources to cloud-based solutions, which has led to a rise in the market.
The Risk-Based Authentication Market caters to a wide range of 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.
Segment Overview of Risk-Based Authentication MarketMarket
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