According to IMARC Group’s latest report, titled “Risk-based Authentication Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027. The global risk-based authentication market reached a value of US$ 3.74 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 10.51 Billion by 2027 exhibiting, a CAGR of 17.70% during 2022-2027.
Risk-based authentication (RBA) represents a non-static authentication system that evaluates the browser, IP address, status of antivirus software, physical location of a consumer, etc., to determine the risk associated with a request for accessing a system. It relies on real-time intelligence to help organizations in ensuring data security and maintaining internal and external compliance. Apart from this, RBA also aids in tracking user activity and identifying suspicious behavior to ensure high security within the network.
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Risk-based Authentication Market Trends:
The increasing incidences of cyber-attacks and data breaches to copy, view, and steal confidential data of private companies, individual groups, government bodies, etc., are primarily driving the risk-based authentication market. In addition to this, the widespread adoption of remote working culture, on account of the sudden outbreak of the COVID-19 pandemic, is acting as another significant growth-inducing factor since RBA tools can be employed to ensure only safe and legitimate access to company systems. Furthermore, the expanding applications of RBA solutions across several sectors, including healthcare and retail, for employee logins, monitoring systems, offering end-point protection, etc., are also augmenting the global market. Besides this, the escalating demand for passive authentication solutions to control and identify areas wherein businesses can introduce automation and offer a frictionless user experience is anticipated to fuel the risk-based authentication market over the forecasted period.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global risk-based authenticationmarket, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, deployment, application and end user vertical.
Competitive Landscape:
- Broadcom Inc.
- Centrify
- Equifax Inc.
- ForgeRock
- Gurucul
- HID Global (Assa Abloy AB)
- International Business Machines Corporation
- Micro Focus International plc
- Okta Inc.
- Oracle Corporation
- Secureauth Corporation
- TransUnion.
Breakup by Component:
- Solution
- Service
Breakup by Deployment:
- On-premises
- Cloud-based
Breakup by Application:
- Fraud Prevention
- Cloud Application Security
- IoT Security
- Others
Breakup by End User Vertical:
- Banking and Financial Services
- Retail
- IT and Telecommunication
- Government
- Healthcare
- Others
Breakup by Region:
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
