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Global Risk-Based Authentication Market 2021 analysis with Key Players, Applications, Trends and Forecasts

Risk-Based Authentication

The report focuses on the favorable Global “Risk-Based Authentication market” and its expanding nature. The Risk-Based Authentication market report provides a comprehensive study of the market segmentation, service providers, stockholders, sponsors, and important market players, size, and share, market dynamics such as the growth drivers, restraints, challenges, and opportunities.

Market Overview:

  • The risk-based authentication market is expected to register a CAGR of 15%, during the forecast period (2019 – 2024). The increasing number of cyber attacks and data breaches have increased awareness regarding data security which is generating demand for highly secure and authentic solutions.
  • – As passwords are proving to be a riskier choice of authentication and cyber attacks, such as simple phishing schemes to sophisticated and targeted phishing attacks are also expected to rise, thereby making risk-based authentication technologies, such as multifactor authentication (that uses OTPs and smart cards with variable passwords), become the requirement of many end-user industries.
  • – Governments across the world are promoting the use of risk-based authentication. For instance, in the United States, the Defense Federal Acquisition Regulation Supplement (DFARS) in its directive outlined the mandatory use of multifactor authentication for all local and remote accounts associated with users who access controlled and unclassified information.
  • – However, the adoption of risk-based authentication has been so slow in the consumer and enterprise spaces because of the technical complexity and high cost of implementing risk-based authentication.

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    Key Manufacturers

  • RSA Security LLC
  • IBM Corporation
  • CA Technologies
  • Micro Focus International plc
  • Okta Inc.
  • SecureAuth Corporation
  • Gemalto N.V.
  • Equifax Inc.
  • Oracle Corporation
  • Cross Match Technologies, Inc.
  • Financial Software Systems, Inc.

    Market Dynamics: –

    • Drivers: (Developing regions and growing markets)
    • Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
    • Opportunities: (Regional, Growth Rate, Competitive, Consumption)

    Risk-Based Authentication market report focuses on the latest trends in the global and regional spaces on all the significant components, including the capacity, cost, price, technology, supplies, production, profit, and competition. Moreover, the old data and present development of the Risk-Based Authentication market have been given in the scope of the report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Risk-Based Authentication market have also been involved in the study.

    Scope of the Report:

  • The risk-based authentication (RBA) is a non-static authentication system which takes into account the profile of the agent requesting access to the system to determine the risk profile associated with that transaction. RBA system evaluates their credentials when a person attempts to access an application, database or any other secure resource.

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    TOC of Risk-Based Authentication Market Report Covered:

    Introduction, Research Methodology, Executive Summary, Key Inferences, Market Overview, Risk-Based Authentication market Dynamics, Market Segmentation, Competitive Landscape, Key Players, Future of the Market, and continued…

    Reasons to Purchase Risk-Based Authentication Market Report Covered:

    • The report analyses how Risk-Based Authentication market will grow in the future.
    • Analyzing various perspectives of the Risk-Based Authentication market with the help of Porter’s five forces analysis.
    • Study on the product type that is expected to dominate the market and regions that are expected to witness the fastest growth during the forecast period
    • Recognize the new developments, Risk-Based Authentication market shares and policies employed by the major market players.
    • Competitive landscape including the Risk-Based Authentication market share of major players along with the key policies accepted for development in the past five years
    • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major Risk-Based Authentication market players

    Key Market Trends:

    Banking and Financial Services Expected to hold the Major Share

    – With this rise in online transaction and banking, the risk for fraud and potential exposure of personal information is ascending. Mobile and e-banking are being increasingly used as a daily use to transfer and perform the transaction, which opens doors to cyber criminals trying to compromise a user’s account to extract money.
    – Therefore, to enhance 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.
    – For instance, in according to the an Statistics in 2018, around half (51%) of adult ans use internet banking. In the United Kingdom, online banking penetration increased from 52% in 2012 to 74% in 2018. So the increase in the demand for mobile banking in a different region is giving rise to the adoption of risk-based authentication platform in order to keep the customers away from the fradulant attack.

    North America Region Expected to Hold Major Share

    – North America is estimated to dominate the risk-based authentication market driven by the high-security spending and presence of large number of risk-based authentication vendor in the region.
    – As the is the early adopter of cloud technologies and connected devices, it is more vulnerable to targeted cyber attacks. Additionally, Accenture has stated that there were over 130 large-scale, targeted breaches per year in the in 2017, and that number is growing by 27% per year.
    – Moreover, in the United States, business is increasingly dependent on computer networks and electronic data to conduct their daily operations. Growing pools of personal and financial information are also transferred and stored online. In order to provide utmost security to the required data, the penetration of the risk-based authentication market is also increasing.

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    Study objectives of Risk-Based Authentication Market Report:

    • To provide a detailed analysis of the market structure along with the Risk-Based Authentication market forecast of various segments and sub-segments of the Risk-Based Authentication market
    • To provide insights into factors influencing and affecting market growth
    • To provide historical, current, and forecast revenue of market segments based on material, type, design, and end user
    • To provide historical, current, and forecast revenue of market segments and sub-segments with respect to regional markets and key countries
    • To provide strategic profiling of key players in the market, comprehensively analyzing their market shares, core competencies, and drawing a competitive landscape for the market
    • To provide economic factors, technology and Risk-Based Authentication market trends that influence the global Risk-Based Authentication market

    Detailed TOC of Risk-Based Authentication Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET INSIGHTS
    4.1 Market Overview
    4.2 Industry Attractiveness – Porter’s Five Force Analysis
    4.2.1 Bargaining Power of Suppliers
    4.2.2 Bargaining Power of Consumers
    4.2.3 Threat of New Entrants
    4.2.4 Threat of Substitute Products
    4.2.5 Competitive Rivalry within the Industry

    5 MARKET DYNAMICS
    5.1 INTRODUCTION to Market Drivers and Restraints
    5.2 Market Drivers
    5.2.1 Increasing Number of Cyber Attacks and Data Breaches
    5.2.2 Growing Trend of Bring your Own Device (BYOD)
    5.3 Market Restraints
    5.3.1 Lack of Knowledge About Risk-Based Authentication

    6 TECHNOLOGY SNAPSHOT

    7 MARKET SEGMENTATION
    7.1 By Offering
    7.1.1 Solution
    7.1.2 Service
    7.2 By Deployment
    7.2.1 On-Premise
    7.2.2 Cloud
    7.3 By End-user Vertical
    7.3.1 Banking and Financial Services (BFSI)
    7.3.2 Retail
    7.3.3 IT and Telecommunication
    7.3.4 Government
    7.3.5 Healthcare
    7.3.6 Other End-user Verticals
    7.4 Geography
    7.4.1 North America
    7.4.2
    7.4.3 Asia-Pacific
    7.4.4 Latin America
    7.4.5 Middle East & Africa

    8 COMPETITIVE LANDSCAPE
    8.1 Company Profiles
    8.1.1 RSA Security LLC
    8.1.2 IBM Corporation
    8.1.3 CA Technologies
    8.1.4 Micro Focus International plc
    8.1.5 Okta Inc.
    8.1.6 SecureAuth Corporation
    8.1.7 Gemalto N.V.
    8.1.8 Equifax Inc.
    8.1.9 Oracle Corporation
    8.1.10 Cross Match Technologies, Inc.
    8.1.11 Financial Software Systems, Inc.

    9 INVESTMENT ANALYSIS

    10 MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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