The Advanced Authentication In The Financial Service Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
Learn More On The Advanced Authentication In The Financial Service Market:
According to The Business Research Company’s Advanced Authentication In The Financial Service Global Market Report 2024, The advanced authentication in the financial service market size has grown rapidly in recent years. It will grow from $5.71 billion in 2023 to $6.53 billion in 2024 at a compound annual growth rate (CAGR) of 14.3%. The growth in the historic period can be attributed to regulatory compliance, digital transformation in finance, mobile banking proliferation, consumer demand for security, user convenience and experience..
The advanced authentication in the financial service market size is expected to see rapid growth in the next few years. It will grow to $11.32 billion in 2028 at a compound annual growth rate (CAGR) of 14.7%. The growth in the forecast period can be attributed to expansion of open banking, globalization of financial services, continuous rise in cyber threats, tokenization for payment security, increasing digital transactions, regulatory evolution.. Major trends in the forecast period include biometric authentication adoptio, multi-factor authentication (mfa) growth, adoption of risk-based authentication, secure customer identity verification, passwordless authentication initiatives, blockchain for identity management.
The increased volume of non-cash payments or transactions is expected to propel advanced authentication in the financial services market. The ease of conducting financial transactions is the most compelling reason to go cashless. Customers benefit significantly from the seamless experience provided by digital payments. Non-cash payments or transactions are intended to be secure with tools such as encryption and biometric protection. For instance, in April 2023, according to a report published by the National Informatics Centre, an India-based science and technology institution, there was a year-on-year (YoY) growth of 72% in 2021, witnessing the processing of over 1.49 billion transactions valued at INR 5.6 trillion in June 2021. By the close of the calendar year 2022, the total transaction value of UPI reached INR 125.95 trillion, marking a remarkable 1.75 times YoY increase. Notably, the total UPI transaction value constituted nearly 86% of India's GDP in FY22. Therefore, increasing the volume of non-cash payments is driving the growth of advanced authentication in the financial services market.
Get A Free Sample Of The Report (Includes Graphs And Tables):
https://www.thebusinessresearchcompany.com/sample.aspx?id=8137&type=smp
The advanced authentication in the financial service market covered in this report is segmented –
1) By Authentication Type: Smartcards, Biometrics, Mobile Smart Credentials, Tokens, Other Types
2) By Enterprise Size: Large Enterprise, Small and Medium Enterprises
Top Major Players:
Fujitsu Limited
Thales Group
NEC Corporation
Broadcom Inc.
Safran Identity And Security SAS
North America was the largest region in the advanced authentication market for financial services in 2023.
Technological advancement is a key trend gaining popularity in the advanced authentication in the financial services market. Major companies operating in the advanced authentication financial service market are advancing their new technologies, research, and development to strengthen their market position. For instance, in May 2022, Mastercard, a US-based financial services company, launched biometric payments to enhance the checkout experience. The biometric checkout service allows customers to enrol in the service through a merchant's or identity provider's app. This new technology ensures a fast and secure checkout service with a smile into a camera or waves their hand over a reader to pay.
The advanced authentication in the financial service market report table of contents includes:
1. Executive Summary
2. Advanced Authentication In The Financial Service Market Characteristics
3. Advanced Authentication In The Financial Service Market Trends And Strategies
4. Advanced Authentication In The Financial Service Impact Of COVID-19
5. Global Advanced Authentication In The Financial Service Market Size And Growth
….
26. Global Advanced Authentication In The Financial Service Market Competitive Benchmarking
27. Global Advanced Authentication In The Financial Service Market Competitive Dashboard
28. Key Mergers And Acquisitions In The Advanced Authentication In The Financial Service Market
29. Advanced Authentication In The Financial Service Market Future Outlook and Potential Analysis
30. Appendix
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
However, in the recent years many high profiles breaches were reported, which triggered awareness among public about importance of security measures.
The factor that is driving the growth of the global advanced authentication market are security threats, BYOD (Bring Your Own Device) and increase in mobile transactions.The global advanced authentication market is a fragmented market.
The global advanced authentication market is expected to reach approximately USD 7 billion by 2023 growing at a CAGR of 12% during the forecast period 2017-2023.Some of the leading market players in the global advanced authentication market: CA Technologies (U.S.), IBM Corporation (U.S.), HP ESSN (U.S.), CSC BSS (India), Oracle Corporation (U.S.), MasterCard Inc. (U.S.), Atos Corporation (France), Versasec AB (Sweden), Gemalto (the Netherlands), Datacard Group (U.S.) and others Browse Full Report Details @ https://www.marketresearchfuture.com/reports/advanced-authentication-market-4747 Regional Analysis:The global market is segmented on the basis of region into North America, Asia Pacific, Europe, and Rest of the world.
North America leads the global advanced authentication market owing to concentration of leading players in this region.In February 2017, Leadership Compass report from KuppingerCole, a leading analyst firm for identity and access management, named CA Technologies a Leader in adaptive authentication.
These optional features help companies adhere to a higher standard of business regulations and compliance.Europe holds the second position in the global advanced authentication market.
Atos Corporation (France), a leading digital transformation company, is planning to launch a new ultra-secure authentication method in its Evidian Enterprise SSO solution.
