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Market Research Future (MRFR) projects that the global mobile user authentic market will demonstrate a 25.9% CAGR between 2019 and 2024. Additionally, the market is likely to surpass a valuation of USD 3 Bn by the end of the forecast period. Mobil phones are a staple in the modern world. Rapid mobile phone proliferation coupled with digitization has created new dimensions of application. Modern consumers heavily rely on mobile phones running day-to-day errands.
Mobile user authentication facilitates validation, authentication and verification with element such as biometrics, geographical positioning, timestamps and biometrics. On the back of rapid virtualization and digitization, data volumes continue to grow which is also reflecting favourably for the market. Digitization has been rampant in industrial verticals due to the host benefits it bring along. However, new treats are appearing which mostly pertain to data theft, privacy breach, digital espionage, etc. In order to prevent such risks, businesses are adopting mobile user authentication.
The global mobile authentication market in benefiting from emerging technology trends such as online data sharing, increase used of portable devices and robust mobile penetration worldwide. Increased phishing activities are resulting in a higher demand for reliable authentication barriers. Moreover, growth of cloud technology and its adoption by individuals, organization, and industries is viewed as a major market driver.
The segmental analysis of the market has been conducted based on organization size, component and end user.
On the basis of organization size, the market has been segmented into small and medium sized enterprises and large enterprises. On the basis component, the market has been segmented into retail, IT & telecommunication, media and entertainment, BFSI, healthcare, government and others. On the basis of component, the market has been segmented into services and solutions.
Key regions covered in the report include Asia Pacific, Europe and North America. The Asia Pacific (APAC) market covers countries such as Japan, China, Singapore, India among others. The Europe market covers countries such as Germany, the UK, France, Italy, Spain among others. The North America market covers the US, Mexico and Canada. In terms of value, North America currently commands the largest share of the global mobile user authentication market. This is mainly owing to presence of numerous prominent vendor, which include TeleSign Corporation, CA Technologies Inc., SecureAuth Corporation, Entrust Datacard Corporation, and Microsoft Corporation. Many of these companies offer services and solutions catering to several industrial domains which are in need for robust data security. Furthermore, the growing trend of bring-your-own-device and increased risk of cyber-attacks are prompting enterprises to adopt robust security solutions such as mobile user authentication.
APAC is viewed as an emerging market for mobile user authentication. Rising number of internet user and expansion of end-use industrial verticals such as media & entertainment and BFSI is favouring the market growth. Other factors such as presence of a large consumer pool and rising level of awareness are also contributing to the growth of the market.
Europe following on the heels of North America occupies the second spot in the global mobile user authentication market in terms of revenue. Technologically advanced countries such as Germany, the UK, Netherlands, France among others are expected to make important contributions to the region’s market during the assessment period.
MRFR recognizes the key players in the global mobile user authentication market as Swivel Secure Ltd (UK), Microsoft Corporation (US), CA Technologies Inc. (US), EMC Corporation (US) , Gemalto NV(Netherlands), Symantec Corporation (US), Vasco Data Security International Inc.(US), Authentify Inc. (US), Entrust Datacard Corporation (US), SecureAuth Corporation (US), SecurEnvoy PLC(UK), and TeleSign Corporation (US), among others.
The prominent players keep innovating and investing in research and development to present a cost-effective product portfolio. There has been recent mergers and acquisitions among the key players, a strategy the business entities emphasize strengthening their reach to the customers.
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