Market Research Future (MRFR) projects that the global Passive Authentication Market is set to exhibit 22.6% compound annual growth rate (CAGR) from 2018 to 2023. The market is expected to reach a valuation of $1351.3 Mn by the end of the forecast period.
Context Directory Agent (CDA) is used by enterprises for effective data collection. CDA provides user identity information, which obtained when a user logs into the network. The entire process is defined as passive identity mapping.
Through passive authentication, the user identity in verified by inspecting a mapping of IP address. The authentication process is passive as the user does not require to provide credentials. The growing need for unified authentication process in enterprises across sectors is proving an impetus to the global Passive Authentication Market.
As enterprises focus on delivering improved user experience, new avenues of growth emerge for the global Passive Authentication Market. The market is also expected to benefits from the growing popularity of leading-edge biometric technologies that help in fraud detection and seamless authentication. Moreover, the rise of Artificial Intelligence (AI) is anticipated to reflect favorably on the market during the assessment period. Industries are quickly shifting towards such technologies boost productivity and improve bottom-line. Nevertheless, concerns over biometrics privacy breaches remain a major challenge for market players.
A segmented analysis of the market has been conducted on the basis of deployment mode, vertical, component, organization size, and region/country.
On the basis of deployment mode, key segments include cloud and on-premises. On the basis of vertical, key segments include financial services and insurance (BFSI), telecommunication and IT, retail and consumer goods, healthcare, banking, media and entertainment, government and others. On the basis of component, key segments include service and solution. On the basis of organization size, key segments include large enterprises and small and medium-sized enterprises (SMEs).
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IBM Corporation (US), Gemalto (Netherlands), Dell Technologies (US), Equifax Inc. (US), Nuance Communications, Inc. (US), OneSpan Inc. (US), Jumio (US), NEC Corporation (Japan), Fair Isaac Corporation (US), Mastercard Technologies (Canada), Cisco Systems Inc. (US), Aware Inc. (US), Experian PLC (Ireland), Veridium Ltd (US), and Verint Systems (US) are among the leading companies operating in the market.
The Passive Authentication Market has been covered across Europe, North America, Latin America, Africa, the Middle East and Asia Pacific. Of these, North America has emerged as the most significant market for passive authentication in recent years and this trend is likely to continue beyond 2019. Several macroeconomic factors are linked with the growth of the market in North America. Faster adoption of new-age technologies in end-use verticals such as IT and telecom and BFSI is also reflecting favorably on the region’s market. Moreover, the advent of technologies such as behavioral analytics, and biometrics.
In terms of market size, Europe holds the second position. Adoption of authentication solution among enterprises has been rampant in Europe. This in turn makes Europe an important destination for market players.
Whereas, the APAC Passive Authentication Market is projected to remain highly lucrative over the next couple of years. The APAC market is expected to exhibit 22.6% CAGR between 2018 and 2023. Emerging economies such as China and India are expected to make significant contribution to the market in APAC during the forecast period. Rapid expansion of sectors such as BFSI, manufacturing, IT and telecom and retail.
The market is also expected to witness sound growth in regions such as the Middle East, LatAm and Africa. In the forthcoming years, new windows of opportunities are expected to open in the regions mentioned above.
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