0

Passive Authentication Market Expected to Reach $4,093 Million by 2027

 
2022
Passive Authentication Market

Report Code : A11097

quote North America was the largest revenue contributor for the implementation of passive authentication solutions in 2019. The region is rapidly adopting biometrics, behavioral analytics, and mobile technology, thus proving significant growth in the market. Most passive authentication vendors, including key players, are directly or indirectly present in the region through system integrators, distributors, and researchers. Countries considered for analysis in North America include the US and Canada. The U.S. is expected to be a major revenue contributor to the passive authentication market in North America with increase in demand for passive authentication solutions and services across many industry verticals. After the U.S., Canada is projected to provide major growth opportunities for passive authentication vendors. quote

Abhijith Nair
Research Analyst, ICT at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a recent report published by Allied Market Research, titled, Passive Authentication Market by Component, Function, Deployment Mode, Organization Size, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2020-2027,” 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 is a form of authentication in which the identity of the user is checked and confirmed without the need for specific additional actions for the purpose of authentication. Passive authentication solutions are deployed in various industry verticals such as banking, financial services, and insurance (BFSI), government, It & telecommunications, retail & consumer goods, health, media & entertainment, and others (education, travel & hospitality and automotive). Similarly, with rapid technological advancements, companies are delivering innovative solutions with integrated multiple methods such as voice and facial biometrics for authentication and fraud prevention.

Recent advances in passive authentication technology have created numerous opportunities for the passive authentication market growth in the coming years. Passive authentication technological features have been extended by modern high-performance servers that allow for real time processing and much faster response times that are essential for the users to have a seamless experience without the need of retaining different login credentials for various services at a single platform or environment. Furthermore, advancement in cloud computing solutions ranging from higher scalability and computing coupled with surge in adoption of Internet of Things, and sensor technologies are the factors that have created strong demand for passive authentication technology in the market.

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 growth. Voice biometrics replace traditional and outdated security methods such as PINs, passwords, and answers to security questions, providing a more secure and friction-free way to verify identity in telephone calls and digital transactions. With rapid increase in the number of malicious attacks, there is a rise in need for AI-based authentication solution, 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 rise 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.

The current estimation of 2027 is projected to be higher than pre-COVID-19 estimates. The global COVID pandemic has bought a positive impact, attributed to rapid spread of coronavirus across the world and social distancing measures in public. Many businesses invested in passive authentication solutions to avoid the usage of biometrics and physical authentication solutions during the COVID-19 pandemic. This resulted in passive authentication solutions to gain significant demand during the pandemic. In 2020, global investments in data security has increased by 2.4% to reach $123.8 billion. Rise in awareness of data privacy and safety, boosts the need for strict security policies within the organization, which further is set to create lucrative opportunities for the growth of the global passive authentication market

Key Findings Of The Study

  • By component, in 2019, the solution segment held the major share. However, the service segment is expected to witness highest growth rate during the forecast period.
  • By deployment type, the local (on-premise) segment accounted for the highest revenue in 2019, however, the cloud is expected to witness highest growth rate during the passive authentication market forecast period.
  • By function, compliance management held the major share in 2019, however the risk management is anticipated to witness highest growth during the forecast period.
  • By industry vertical, the BFSI sector accounted for the highest revenue in 2019, however, the healthcare & pharmaceutical segment is expected to witness the highest growth rate during the forecast period.
  • By region, the passive authentication market size was dominated by North America. However, Asia-Pacific is expected to witness significant growth in the upcoming years. 

Some of the key companies mentioned within the report include NEC Corporation, IBM Corporation, Cisco Systems Inc., Gemalto, FICO, RSA Security LLC, Experian plc, Equifax Inc., Nuance Communications, Inc., and BioCatch Ltd. This study includes passive authentication market trends, passive authentication market analysis, and future estimations to determine the imminent investment pockets.
 

 

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@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
 
 

First time buyer?
Check offers and discount on this report
To get this report

Click Here
 
 

quote 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 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

WHY ALLIED MARKET RESEARCH?

INFLALLIBLE 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

 

Featured Readings

 
rep-img

Published Date Nov 2024

Hybrid Cloud Market

Download Sample
rep-img

Published Date Oct 2024

Digital Substation Market

Download Sample

Buy Full Version
"Passive Authentication Market"
Purchase Enquiry

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 the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

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