Mobile User Authentication Market
Global Mobile User Authentication Market Research Report: by Component (Solutions, Services), by Organization Size (SMEs and Large Enterprises), by End User (BFSI, Retail, Healthcare, IT & Telecommunication, Government, Media and Entertainment and others) and by Region (North America, Europe, Asia-Pacific and Rest of the World) – Forecast till 2024
The Global Mobile User Authentication Market is estimated to reach USD 3.45 Billion by 2024, registering a CAGR of 25.9% during the forecast period of 2019–2024.
There are various factors contributing to the growth of the global mobile user authentication market, such as, the increasing requirement for secured path among business organizations, industries, and individuals for information sharing with an encrypted password. Moreover, the increasing generation of data by the BFSI, IT & telecommunication, and government end users, among others, requires a secure medium for the transfer of critical information. There are various benefits of mobile user authentication; for instance, it protects private information.
Mobile user authentication is a technological process for securing the data by offering secured services to the end user. It is an authentication method which sends a one-time password (OTP), on the user’s smartphone for validating and authenticating the data to the user. There are various enterprises which are adopting bring your own device (BYOD) and are sharing their data online allowing the user to access data from anywhere which raises the concerns for security, which is an essential factor driving the market globally. Some of the benefits of using mobile user authentication are that there is multi-level security and low data redundancy, among others; this also fuels the market growth.
The global mobile user authentication market has been segmented based on component, organization size, and end user.
By component, the mobile user authentication market has been segmented into solutions and services. The solution segment accounts the largest market share due to increasing cyber-attacks, data breaches, ransomware, and others. Moreover, the increasing sharing of data online requires a secure path to reach to end users. Various companies are adopting these software solutions to increase security and offer a secured service to the end user. Moreover, mobile user authentication software solutions validate the end user by sending an OTP or other methods for confirming the authorization.
The market has been segmented, by organization size, into large enterprises and SMEs. The large enterprises dominate the segment as these generate large volumes of data, which are shared through emails to various in-house departments and consultancy agencies, users and other end users. The encrypted data can only be opened or used by a certain password or authentication methods. The companies also share confidential information through emails, which need to be protected from cyberattacks, therefore are adopting mobile user authentication to offer a secure service to the users.
Global Mobile User Authentication Market: Regional Analysis
Key regions covered in the report include Asia Pacific, Europe and North America. The Asia Pacific (APAC) market covers countries such as Japan, China, Singapore, India among others. The Europe market covers countries such as Germany, the UK, France, Italy, Spain among others. The North America market covers the US, Mexico and Canada. In terms of value, North America currently commands the largest share of the global mobile user authentication market. This is mainly owing to presence of numerous prominent vendor, which include TeleSign Corporation, CA Technologies Inc., SecureAuth Corporation, Entrust Datacard Corporation, and Microsoft Corporation. Many of these companies offer services and solutions catering to several industrial domains which are in need for robust data security. Furthermore, the growing trend of bring-your-own-device and increased risk of cyber-attacks are prompting enterprises to adopt robust security solutions such as mobile user authentication.
Europe following on the heels of North America occupies the second spot in the global mobile user authentication market in terms of revenue. Technologically advanced countries such as Germany, the UK, Netherlands, France among others are expected to make important contributions to the region’s market during the assessment period.
APAC is viewed as an emerging market for mobile user authentication. Rising number of internet user and expansion of end-use industrial verticals such as media & entertainment and BFSI is favouring the market growth. Other factors such as presence of a large consumer pool and rising level of awareness are also contributing to the growth of the market.
The prominent players in the market of global mobile user authentication are Swivel Secure Ltd (UK), Microsoft Corporation (US), CA Technologies Inc. (US), EMC Corporation(US) , Gemalto NV (Netherlands), Symantec Corporation (US), Vasco Data Security International Inc. (US), Authentify Inc. (US), Entrust Datacard Corporation (US), SecureAuth Corporation (US), SecurEnvoy PLC (UK), and TeleSign Corporation (US), among others.
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