A11870 | Pages: NA | Jul 2022 | 1097 Views | ||
Author(s) : Vijay Poola | Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Advanced Authentication Market
Request Now !Advanced authentication in financial services helps in providing seamless services to end users and also helps organizations for circulating sensitive information across the corporations. The demand for data sharing has risen dramatically in recent years, owing to rapid adoption of cloud-based services among organizations, thereby driving the growth of the market. Moreover, it is important to manage authentication policies in one place with advanced authentication as most businesses are required to run and maintain multiple infrastructures. Furthermore, to complete the log-in or transaction process, advanced authentication and two-factor authentication or multifactor authentication require an additional separate factor or credential. Therefore, surge in adoption for advanced authentication services and efficient usage of its services are expected to boost the advanced authentication market growth in financial services in the near future.
The advanced authentication market in financial services market share is segmented on the basis of authentication type, enterprise size, and region. Based on authentication type, the market is bifurcated into smartcards, biometrics, mobile card credentials, tokens, and others. By enterprise size, it is categorized into large enterprise, small & medium enterprises. Based on region, the market is analyzed across North America (the U.S. and Canada), Europe (Germany, the UK, France, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Key players operating in the advanced authentication market in financial services market include Fujistu Ltd, Thales Group, NEC Corporation, CA Technologies Inc., Safran Identity and Security SAS, Dell Technologies Inc., Lumidigm Inc., Validsoft Ltd, Pistolstar Inc., and SecurEnvoy Ltd. These players adopt collaboration, partnership, and agreement as their key developmental strategies to increase revenue of the Advanced Authentication industry and develop new products for enhancing product portfolio.
COVID-19 Impact Analysis
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Increase in volume of non-cash payments/transactions fraud, rise in need for prevention of threats due to increasing number of cloud users, and increase in number of security breaches & identity theft threats drive the growth of the market. However, privacy concerns regarding authentication vendor and high costs of token are expected to hamper the growth of the market. Contrarily, rise in the demand for cloud-based security solutions & regulatory mandates can be witnessed as an opportunity for market investments.
The global advanced authentication market in financial services market trends are as follows:
Increasing volume of non-cash payments/transactions fraud
With advancements in technology and digital payments being easy to operate, many people have switched from traditional banking to digital payments. Though this can be viewed as a certain way toward technological advancements, fraudulent activities have also started to take place since majority of the population have moved online to carry on with their functions. Therefore, to protect customers’ security, advanced authentication has been introduced. Furthermore, it helps financial institutions to effectively provide seamless services to its users. Moreover, advanced authentication financing ensures that all authentication policies are managed effectively. Therefore, it can be concluded that this seamless process of technological adaptation is expected to boost the global advanced authentication market in financial services growth during the forecast period.
Rise in need for prevention of threats due to increasing number of cloud users
Advanced authentication in financial services has been increasingly adopted and implemented by many financial institutions. Since cloud users are increasing in number and customer security is of utmost importance, many organizations have switched to advanced authentication services as these technologies help in adding advanced proficiencies, such as easy accessibility, security, and transparency, to advanced authentication platforms, which further boost the market growth. Therefore, rise in adoption of advanced authentication services is expected to foster the growth of the global advanced authentication market in in financial services the coming years.
Market Scope and Structure Analysis
Report Metric | Details |
 Market Size Available for Years |  2020–2030 |
 Base Year Considered |  2020 |
 Forecast Period |  2021–2030 |
 Forecast Unit |  Value (USD) |
 Segments Covered | Authentication Type, Enterprise Size, and Region |
 Regions Covered | North America (the U.S. and Canada), Europe (Germany, the UK, France, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa) |
 Companies Covered | Fujistu Ltd, Thales Group, NEC Corporation, CA Technologies Inc., Safran Identity and Security SAS, Dell Technologies Inc., Lumidigm Inc., Validsoft Ltd, Pistolstar Inc., and SecurEnvoy Ltd. |
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Key Benefits of the Report
Key Segments Covered
Segment | Sub Segment |
 Authentication Type |
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 Enterprise Size |
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Questions Answered in the Advanced Authentication Market in the Financial Service Research Report
Key Market Segments
Segments | Sub-segments |
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By Authentication Type |
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By Enterprises Size |
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By Region |
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Key Market Players
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