Mobile User Authentication Market is projected to reach USD 3.45 billion by 2024 at a CAGR of 25.9% from 2018 to 2024.
November 5, 2019 by Market-NewsFlash
The global mobile user authentication market is expected to register a CAGR of 25.9% during the forecast period of 2019–2024. There are various factors contributing to the growth of the global mobile user authentication market, such as, the increasing requirement for secured path among business organizations, industries, and individuals for information sharing with an encrypted password. Moreover, the increasing generation of data by the BFSI, IT & telecommunication, and government end users, among others, requires a secure medium for the transfer of critical information.There are various benefits of mobile user authentication; for instance, it protects private information.
The global mobile user authentication market is estimated to grow at a significant rate in the future. The geographic analysis of mobile user authentication market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world.
North America dominates the global mobile user authentication market, by region, due to the early adoption of the mobile user authentication across various industries and the increasing requirement for these solutions and services in BFSI vertical for securing the authenticated information. Additionally, the increasing online tractions among the enterprises and users is also increasing in the region also drives the growth of the market. The market in North America has been further segmented based on countries into the US, Canada, and Mexico. The US holds the largest market share in North America, followed by Canada and Mexico. The US dominates in the region due to the presence of various key vendors such as Microsoft Corporation, CA Technologies Inc., Entrust Datacard Corporation, SecureAuth Corporation, and TeleSign Corporation. Also, the requirement of mobile user authentication by various business in the region is increasing.
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Europe accounted for the second largest market due to presence of various BFSI, IT & telecom industries present in the region. The presence of technologically advanced countries in the region, such as the UK, France, Germany, Italy, Spain, are contributing in the market growth. Moreover, the presence of companies such as Swivel Secure Ltd, SecurEnvoy PLC, Gemalto NV and others are also driving the market by offering various solutions to various bussiness and industrial verticals.
The market in Asia-Pacific accounted for the third-largest share; it is expected to grow at a higher rate during the forecast period due to large scale adoption among the retailers, government, and BFSI industries. Moreover, the presence of various countries such as China, Japan, India, Australia, and Singapore also contributes to the growth of the mobile user authentication market in the region.
The rest of the world consists of the Middle East & Africa and South America. The market in Middle East and Africa is expected to register the highest CAGR due to increasing investments by various companies in the region.
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.
The global mobile user authentication market is segmented based on component, organization size, end-user and region
By component, the market has been segmented into solutions and services. The solution segment has been further segmented as one-time passwords, Biometric authentication, QR code validation and others.
By organization size, the market has been segmented into large enterprises and SMEs.
By end-user, the market has been segmented into BFSI, retail, healthcare, IT & telecommunication, government, media and entertainment, others.
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