The global market for authentication solutions generated $13.1 billion in revenue. By 2032, the market for authentication solutions is projected to grow at a CAGR of 14.4%, reaching $56.3 billion.
According to Future Market Insights (FMI), cyber attackers are using sophisticated and advanced technologies to conduct cyberattacks across industries. As a result of these attacks, it is now more difficult to prevent network attacks.
The increase in internet fraud and identity theft is another global concern. This is expected to accelerate the uptake of authentication software. Authentication solutions account for over 12% of the sales revenue in the global cybersecurity market.
A security mechanism that raises the data and system security is authentication. It guards against security lapses and data loss. With the use of a user ID and password, this method identifies the user and grants access to the system.
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The type of authentication solution used in the system, such as single-factor authentication or multi-factor authentication, also affects this. It provides multiple levels of security to shield networks and data from hackers.
A variety of technologies and solutions are available to confirm the identification of people and entities in order to enable safe access to systems, applications, data, or physical places in the rapidly expanding industry known as the authentication solution market.
A number of factors, such as the growing demand for safe access to digital assets, the rising popularity of cloud-based services, and the fear of cybercrime are driving this industry. A variety of regulatory norms and criteria are also present in the market, which may have an impact on how quickly new technologies are adopted and implemented.
Key Takeaways: Authentication Solution Market
- By authentication type, the single-factor authentication solution market is growing dominantly with a CAGR of around 12.9% between 2022 & 2032.
- By enterprise size, demand for authentication solution from small & mid-sized enterprises (SMEs) is estimated to be growing at a higher rate than large enterprises.
- By industry, BFSI industry is will hold the highest market share by 2032. However, the healthcare industry is projected to showcase a significant growth of around 18.1% between 2022 & 2032.
- By region, North America authentication solution market in 2021 was holding the highest market share of around 32.2%
- South Asia & Pacific region is estimated to grow at a CAGR of around 18.1% in the forecast period.
“Increasing number of sophisticated cyber-attacks across industries and data breaches will create a conducive environment for authentication solutions market players. This service downtime and data breach severely affect the customer base and network security of these enterprises. To avoid downtime and data breach and to prevent the enterprise network from cyber-attacks, companies are implementing the authentication solution’ says an FMI analyst.
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Key Companies Profiled
- IBM
- HID Global
- JumpCloud
- RSA Security
- Gemalto (Thales)
- Duo Security (Cisco)
- Avatier
- Entrust Datacard
- TrustBuilder
- Broadcom
- REVE Secure
Global Authentication Solution Market Outlook by Category
By Authentication Type:
- Single Factor Authentication
- Multi-Factor Authentication
By Enterprise Size:
- Large Enterprises
- Small and Mid-Sized Enterprises (SMEs)
By Industry:
- IT & Telecom
- BFSI
- Healthcare
- Manufacturing
- Retail
- Government
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Innovation / Development Trends
4. Pricing Analysis
4.1. Pricing Analysis, By Authentication Type
4.2. Global Average Pricing Analysis Benchmark
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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