Risk Based Authentication Market

Risk Based Authentication Market Size Growth Rate:

According to the research report, Risk Based Authentication Market size was valued at USD 42653.89 million in 2018 and this figure estimated to cross USD 56369.92 million by the end of 2024, and it is growing at a CAGR of 4.7% during the forecast period 2019-2024.

Risk Based Authentication Market Overview:

The increase in the number of fraud cases has increased the need for stronger authentication and security. At the same time, however, the customer’s patience for additional security measures is dwindling. Add too many authentication layers, and users will get frustrated spending too much time trying to access their accounts. The consumers are changing their preference for easy and secure transactions. To enhance the consumer satisfaction and enable secure transactions many of the banking and financial institutions are adopting frictionless authentication, such as biometrics, facilitated by better fraud detection that leverages the combination of advanced machine learning and customized rule sets.

Banking and Financial Services to hold the Major Share:

The banking and financial type of end-user is expected is expected to hold major share as this sector is highly prone to cyber-attacks. Guarding against these attacks and mitigating their damage continues to represent an urgent imperative for security teams in the banking industry.

Risk Based Authentication Market Regional Analysis:

North America is estimated to dominate the risk based authentication market driven by the high-security spending and large presence of the risk-based authentication vendor in the region. However, the market is projected to gain significant importance in the Asia-Pacific region owing to the increasing number of cyber-attacks in the region and is expected to exhibit highest growth rate of xx% over the forecast period.

Competitive Landscape of the Market:

The risk based authentication market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets. For instance, in Sep 2018, LexisNexis announced that its identity authentication and verification solutions, InstantID Q&A and Instant Verify, can be integrated with the MyChart patient portal. The integration of these solutions offers Epic customers an easy-to-implement way to strengthen efforts to protect patient data.

Some of the promising companies leading the Risk Based Authentication Market:

• IBM Corporation
• SecureAuth (US)
• RSA Security (US)
• ForgeRock (US)
• Entrust Datacard (US)
• Ping Identity (US)
• LexisNexis (US)
• OneLogin (US)
• GURUCUL (US)
• Centrify (US)
• Equifax (US)
• Crossmatch (US)
• BioCatch (Israel)
• Evidian (France)
• Identity Automation (US)
• NoPassword (US)
• Silverfort (Israel)
• iovation (US)
• EZMCOM (US).
• CA Technology Inc.
• Okta Inc.
• OneSpan Inc.
• SecureAuth Corporation
• Micro Focus International PLC

This research report includes following segmentation for the Risk Based Authentication Market size and forecast until 2024:

Risk Based Authentication Market – By Technology:

• Multi-Factor Authentication
• Behavioral Biometric
• Web Access Management

Risk Based Authentication Market – By Deployment:

• On-premise
• Cloud

Risk Based Authentication Market – By Component:

• Solution
• Service

Risk Based Authentication Market – By Application:

• Fraud Prevention
• Cloud-Application Security
• IoT Security

Risk Based Authentication Market – By End-User:

• Banking and Financial Services
• Healthcare
• Government
• Retail
• Others

Risk Based Authentication Market – By Geographical Segmentation:

• North America                                                 

  • United States                                
  • Canada                                          

• Europe                                                                                  

  • United Kingdom                                            
  • Germany                                       
  • France                                           
  • Italy                                
  • Spain                                             

• Asia-Pacific                                                      

  • China                                             
  • India                                              
  • Japan                                             
  • South Korea                                  

• Latin America                                                                              

  • Brazil                                             
  • Argentina                                      
  • Mexico                                          

• Middle-East & Africa                                                       

  • Middle-East                                  
  • Africa