0
2021
Passive Authentication Market

Passive Authentication Market

by Component (Solution and Services), Function (Compliance Management, Marketing Management, Risk Management, and Others), Deployment (On-Premise and Cloud), Organization Size (Small & Medium Enterprise and Large Enterprise), and Industry Vertical (Banking, Financial Services, and Insurance (BFSI), Government, IT & Telecom, Retail & Consumer Goods, Healthcare, Media & Entertainment, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027
Update Available On-Demand

Report Code: A11097
Pages: 315
Apr 2021 | 2777 Views
Author(s) : Abhijith N
Tables: 155
Charts: 64
  • Formats*:

  • Single User License, Five User
    License & Enterprise User License

  • Data Pack Excel License

  • It comes with the additional cost
    of $2500.00 contact sales.

 

COVID-19

Pandemic disrupted the entire world and affected many industries.

Get detailed COVID-19 impact analysis on the Passive Authentication Market

Request Now !

Passive Authentication Market Insights - 2027

The global passive authentication market size was valued at $796 million in 2019, and is projected to reach $4,093 million by 2027, registering a CAGR of 22.7% from 2020 to 2027. Passive authentication can be defined as a form of authentication through which the identity of the user is checked and confirmed without the need of specific additional actions for the purpose of authentication. This type of authentication can be defined as frictionless as the user need not carry out specific additional actions; however, the user’s activity or other observable data are gathered and analyzed for evidence of identity without additional intervention from the user.

COVID-19 pandemic has resulted into increasing adoption of collaboration tools like Cisco Connect, Zoom, and others. Due to increasing usage of these tools, number of organization have experienced the processes and security vulnerability in remote working as majority of cyber-attacks have increased during the pandemic. The COVID-19 outbreak has created various new factors for malicious attacker to exploit. Phishing email regarding changes to work policies and COVID-19 pandemic has become common way for the attackers and are designed to deliver malware or to steal the credential of the users, which is driving the need for strong, secure authentication factor that can ensure only right people can have access to right resources.

In 2019, the global passive authentication market share was dominated by the solution segment, primarily backed by rapid advancement within the technology that has created lucrative opportunities for the market. Voice biometrics replace traditional and outdated security methods such as PINs, passwords, and answers to security questions, providing a secure and friction-free way to verify identity in telephone calls and digital transactions. There is a rise in the need for AI-based authentication solution attributed to rapid increase in the number of malicious attacks, which is further anticipated to widen the market scope during the forecast period. The service segment is estimated to be the fastest growing segment within the market, as increase in prevalence of cybercrimes has surged the demand for passive authentication solutions. In addition, gradual increase in demand for quick and secure online transactions is anticipated to fuel the growth of the passive authentication market in the near future. In addition, companies around the world are focusing on delivering reliable, secure, and efficient services to their customers by adopting passive authentication.

Passive-Authentication-Market

Europe is estimated to achieve a significant growth during the forecast period due to higher authentication and awareness of passive authentication solutions. The increase in prevalence of cybercrimes and rise in demand for data security worldwide is anticipated to drive the growth of the passive authentication market during the forecast period. Similarly, surge in number of cybercrimes such as identity theft, data breach, and hacking boost the demand for passive authentication platforms and solutions in the near future. In addition, gradual increase in demand for quick and secure online transactions is anticipated to fuel the growth of the passive authentication market in the near future. In addition, companies around the world are focusing on delivering reliable, secure, and efficient services to their customers by adopting passive authentication. This is expected to help companies enhance customer experience as well as protect their data.

The report focuses on the growth prospects, restraints, and passive authentication market analysis. The study provides Porter’s five forces analysis of the passive authentication industry to understand impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the global market trends.

Segment review

The passive authentication market is primarily segmented on the basis of component, function, deployment mode, organization size, industry vertical, and region. By component, the market is segmented into solution and services. By function, it is segmented into compliance management, marketing management, risk management, and others. By deployment mode, it is bifurcated into on premise and cloud. By organization size, it is divided into small & medium enterprise and large enterprise. By industry vertical, it is classified into BFSI, Government, IT & Telecom, retail & consumer goods, healthcare, media & entertainment, and others. By region, it is studied across North America, Europe, Asia-Pacific, and LAMEA.

Impact of COVID-19 Pandemic on Passive Authentication Market (Pre and Post COVID Analysis)

COVID-19 pandemic has caused a severe economic slowdown and the present crisis is only exacerbating the pattern of global economic reliance on the Internet, which remains a crucial strategic global business engine. According to the World Economic Forum's Global Risks Report 2020, there is an increase in the cybersecurity risk, cyber threats, and data theft. Owing to the above factor,, the market for passive authentication is set to gain traction. Proper authentication of consumers and users are of grave importance in today’s business environment to ensure the safety and privacy of crucial assets. Key players of the passive authentication market have implemented strong strategies to aid these organizations. For instance, Purilock, a Canadian security services provider, offers passive authentication to make authentication and identification even easier. Plurilock ADAPT's invisible MFA technology is a form of passive authentication that adds many additional identity verification factors to existing login prompts without the user doing anything extra.

Top impacting factors    

Factors such as increase in demand for passive authentication solution in various business sectors has emerged as a key factor, within the overall market growth. For instance, Canadian passive authentication services provider Purilock offers passive authentication to make authentication much faster. Furthermore, colossal advantage in terms of user accessibility and time saving has also provided a strong support for the during the passive authentication market forecast period. However, data confidentiality and trust issues within the consumers is estimated to create a staggering effect on the market growth during the forecast period. Moreover, advancements in passive authentication techniques and its growing need in fraud detection and issues are the factors set to create a lucrative passive authentication market opportunity during the forecast period.

Increase in demands of passive authentication in modern-day businesses:

Passive authentication measures are helping organizations to expand their reach by integrating new capabilities and provide newer opportunities to their consumers. One of them is providing more accessible and convenient authentication services. For instance, in April 2018, Passive authentication startup UnifyID has announced its frictionless online and physical dynamic probability and confidence scoring technology has reached general availability. Alternatively, identity signals are collected as they enter their username and password, allowing for much better identity authentication without any of the users having to do any additional work.

Furthermore, passive authentication services are now easier to introduce and use, because of the rapid advancement of personal digital electronics technology industry, which has allowed individuals to accommodate a variety of sensors and resources in their pockets. This greatly simplifies and accelerates user authentication and impacts the growth of the passive authentication market.

Passive Authentication Market
By Component

Your browser does not support the canvas element.

Cloud segment is projected as one of the most lucrative segments.

Get more information on this report : Request Sample Pages

Rise in data privacy and security concerns

There has been a rise in the importance of data security making it mandatory to introduce stringent compliance and regulatory policies that governments and other concerned regulatory bodies have introduced to safeguard sensitive data after the world witnessed many discerning cyber threats and attacks on big data servers and their analysis methods. 

Policies such as the General Data Protection Regulation (GDPR) introduced by the European union that enforces seven principles of-lawfulness, fairness, and transparency; Purpose limitation; Data minimization;

Accuracy: Storage limitation; Integrity and confidentiality (security) and Accountability. GDPR aims for appropriate personal data processing. Processing involves collecting, arranging, structuring, storing, changing, informing, utilizing, interacting, merging, limiting, removing, or destroying personal data. Compliance policies like GDPR and other similar regulations make a business adopt big data security solutions into their big data environment.

Passive Authentication Market
By Region

2027
North America 
Europe
Asia-pacific
Lamea

APAC is projected as one of the most significant region.

Get more information on this report : Request Sample Pages

Key Benefits For Stakeholders

  • The study provides an in-depth analysis of the passive authentication security market size along with current trends and future estimations to elucidate imminent investment pockets.
  • Information about key drivers, restraints, and opportunities and their impact analysis on the market size is provided in the report.
  • Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
  • The quantitative analysis of passive authentication market for the period 2020–2027 is provided to determine the market potential.

Some of the key companies mentioned within the report are,

  • NEC Corporation
  • IBM Corporation
  • Cisco Systems Inc.
  • Gemalto
  • FICO
  • RSA Security LLC
  • Experian plc
  • Equifax Inc.
  • Nuance Communications Inc.
  • BioCatch Ltd.
 

Loading Table Of Content...


 
 

According to CXOs of the major companies, the passive authentication market is experiencing a rapid growth, owing to increase in demand for passive security measures within various industrial sectors. Passive authentication measures are helping organizations to expand their reach by integrating new capabilities and provide newer opportunities to their consumers. One of them is providing accessible and convenient authentication services. For instance, Canadian passive authentication services provider Purilock offers passive authentication to make authentication much faster. Plurilock ADAPT's invisible MFA technology is a form of passive authentication that introduces several additional identity verification factors to existing login prompts without the user taking any additional steps.

Passive authentication saves time for both the organizations and its users by quickly verifying known users and customers using seamless data collection and pattern recognition. These tools are used to figure out things like writing/typing patterns, walking styles, and others. For instance, regardless of what is being written, every individual has identifiable movement patterns. These patterns, when combined with machine learning, create a clear and unique identity signature for that individual. Similarly, sensors onboard smartphones, wearables, and PDAs monitor various users' walking and movement patterns, which are then used to identify and authenticate the individual user, granting them seamless access to specific services like faster monetary transactions.

The passive authentication market is competitive and comprises a number of regional and global vendors competing based on factors such as cost of solutions & services, reliability, efficiency of products, and support services. The market is concentrated with major players consuming 50-55% of the share. The degree of concentration is expected to remain same during the forecast period. Furthermore, rise in number of fraud and theft cases within both commercial and industrial sectors has urged strong need for effective authentication services, thereby creating a strong foundation for the growth of the passive authentication market during the forecast period.

PURCHASE OPTIONS

Call or Email us

U.S.-Canada Toll-free: +1-800-792-5285
Int'l : +1-503-894-6022
Europe : + 44-845-528-1300
Email : help@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
RELATED TAGS

Purchase Full Report of
Passive Authentication Market

Start reading instantly.
This Report and over 19,300+ more Reports, Available with Avenue Library. T&C*.

  • Online Only
  • $3,713
  • Online cloud access only
  • Restricted print, copy, paste & download
  • Read only
  • Free industry update
    (Within 180 days)
  • Free report update in next update cycle
    (Apr 2022 - Apr 2023)
  • Data Pack
  • $4,126
  • Restricted to one authorized user
  • One print only
  • Available in
    Excel
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Apr 2022 - Apr 2023)
  • Single User
  • $5,770
  • Restricted to one authorized user
  • One print only
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Apr 2022 - Apr 2023)
  • Five Users
  • $6,930
  • Limited to five authorized users
  • Print upto five copies
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Apr 2022 - Apr 2023)
  • Enterprise
    License/PDF

  • $10,665
  • Unlimited
    within
    company/enterprise
  • Available in Excel & PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Apr 2022 - Apr 2023)
  • Library
    Membership

  • $ 999
    Per User/ Per month/ Billed annually
  • Published Content
    E-access
  • Company Profiles
    E-access
  • Newly Added Content Access
  • 10 PDF
    Downloads
  • 5 Excel Data
    Pack Downloads
  • 250 Company Profiles PDF Downloads
  • Buy Now

*Taxes/Fees, if applicable will be added during checkout. All prices in USD

RELATED REPORTS
 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers