The global advanced authentication market is expected to reach approximately USD 7 billion by 2023 growing at a CAGR of 12% during the forecast period 2017-2023.
A number of credentials systems are used in the market to gain access such as username or password, which can access multiple systems by saving them in database. However, in the recent years many high profiles breaches were reported, which triggered awareness among public about importance of security measures. Thus, security firms and IT developers are more focused on developing advanced authentication techniques, which can help to avoid security threats by adding multi-factor authentication. The factor that is driving the growth of the global advanced authentication market are security threats, BYOD (Bring Your Own Device) and increase in mobile transactions.
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The global advanced authentication market is a fragmented market. The leaders constantly keep innovating for the new technology and investing in research and development. The advanced authentication market has driven many areas like government, BFSI, retail & wholesale, and telecommunications.
The global market is segmented on the basis of region into North America, Asia Pacific, Europe, and Rest of the world. North America leads the global advanced authentication market owing to concentration of leading players in this region.
In February 2017, Leadership Compass report from KuppingerCole, a leading analyst firm for identity and access management, named CA Technologies a Leader in adaptive authentication. EGNYTE (U.S.) an American software company, which provides software for enterprise file synchronization and sharing, is offering advanced authentication bundle that provides users EGNYTE account with additional control and security over user login and password management. These optional features help companies adhere to a higher standard of business regulations and compliance.
Europe holds the second position in the global advanced authentication market. In 2016, Gemalto (the Netherlands), an international digital security company, launched the Gemalto Assurance Hub, which is a revolutionary approach to fraud prevention in online banking. Powered by machine learning, Gemalto Assurance Hub analyses the profile and the behavior of customers in real time. The platform only activates additional authentication measures when required, providing a smooth user experience. Atos Corporation (France), a leading digital transformation company, is planning to launch a new ultra-secure authentication method in its Evidian Enterprise SSO solution. It now uses the Nymi Band, an authentication wristband based on a person’s heartbeat, to enable Always-On-Authentication. In partnership with Nymi, the leader in wearable authentication devices and creator of the Nymi Band, Atos is now offering users a new way to securely access their data and critical applications via multi-factor authentication.
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Since Asia Pacific is at a growing stage and moving towards digitalization, many of the market players like Mastercard, CA Technologies and others are expanding their operations in the Asian region.
Some of the leading market players in the global advanced authentication market: CA Technologies (U.S.), IBM Corporation (U.S.), HP ESSN (U.S.), CSC BSS (India), Oracle Corporation (U.S.), MasterCard Inc. (U.S.), Atos Corporation (France), Versasec AB (Sweden), Gemalto (the Netherlands), Datacard Group (U.S.) and others
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