The risk-based authentication market was valued at US$1.561 billion in 2017 and is expected to grow at a CAGR of 15.62% over the forecast period to reach a total market size of US$3.729 billion by 2023. Growing investments by the end users into improving the security of their systems is driving the adoption of advanced technologies by them. Rising incidence of security breaches is further fueling this need among the end users, thus driving the market for risk-based authentication solutions. Rapid growth of communication and technology industry is a major factor driving the growth of this market and it is expected to remain a major driving force for this market throughout the forecast period.
To give a clearer view of the market, it has been segmented into offering, enterprise size, end-user industry and geography. By offering, the market has been segmented into software and services. By enterprise size, the market has been segmented into small, medium and large enterprises. By application, the market has been segmented into cloud application security, IoT security and others. By end-user industry, the market has been segmented into communication and technology, retail, BFSI, government, healthcare and others. By geography, the market has been segmented into North America, South America, Europe, Middle East and Africa and Asia Pacific. The regional markets have been further segmented into countries which hold a significant share in this market.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study has been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the risk-based authentication value chain. Last step involves complete market engineering which includes analysing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the market.
Major industry players profiled as part of the report are IBM, CA Technologies, Micro Focus, Okta, Gemalto, Vasco Data Security, Secureauth, RSA Security, Entrust Datacard, LexisNexis, Equifax, Ping Identity, and Oracle among others.
The risk-based authentication market is segmented by offering, enterprise size, application, end-user industry and geography.
By Enterprise Size
Cloud Application Security
By End-User Industry
Communication and Technology
Middle East and Africa