Solution Segment to Continue Dominating Global Risk-based Authentication Market until 2024
Increasing trend of Bring
your Own Device (BYOD) and surging cyber-attacks to drive global risk-based
authentication market through 2024
According
to TechSci Research report, “Global Risk-based Authentication Market By Component, By
Technology, By Security Policies, By Deployment, By Application, By End-User,
By Region, Competition, Forecast & Opportunities, 2024”, global risk-based authentication market is projected to grow
at a CAGR of over 18.8% during forecast period on account of increasing cyber-attacks,
growing demand of bring your own device (BYOD)
and rising adoption of cloud-based risk-based authentication solutions. Moreover,
growing strict regulations & compliance and rise in the number of IoT and
connected devices is further driving global risk-based authentication market. Moreover,
increasing trend of BYOD systems at work environment and surge in the number of
cyber-attacks and information breaks against organizations is further promoting
the growth of global risk-based authentication market.
Browse 20 market data Tables and 115 Figures
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Risk-based Authentication Market"
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Global
risk-based authentication market can be segmented based on component, technology,
security policies, deployment, application and end-user. On the basis of
component, global risk-based authentication market can be categorized into
solution and services, of which solution is expected to be the major segment during
forecast period as it provides automated critical identity-based authentication
controls to organizations. Among deployment type, cloud segment is expected to grow at
the fastest pace during the forecast period as organizations can save costs on
hardware, software and storage by using cloud-based solutions. Global risk-based
authentication market caters to various end users such as government, BFSI, retail,
healthcare and others, etc. BFSI dominated the market in 2018 and is expected to
maintain its dominance through 2024 as well. However, other end users like government,
healthcare, retail, etc., are expected to witness swift growth in global
risk-based authentication market during forecast period. North America acquired
the dominant position in global risk-based authentication market owing to the
presence of major risk-based authentication vendors offering technologically
advanced solutions in the region.
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International
Business Machines Corporation, Micro Focus International plc, CA, Inc., RSA
Security LLC, Okta, Inc., are some of the leading companies operating in global
risk-based authentication market. Companies operating in the market
are using organic strategies such as product launches, and mergers and
collaborations in order to register positive growth in the market. IBM offers
risk-based authentication solutions by bringing together IBM Trusteer Pinpoint
Detect and IBM Security Access Manager. The solution assesses high-risk
factors, analyzes session information and provides protection against
fraudulent transactions.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global Risk-based
Authentication Market By Component, By Technology, By Security Policies, By
Deployment, By Application, By End-User, By Region, Competition, Forecast &
Opportunities, 2024” has
evaluated the future growth potential of risk-based authentication market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decision. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global risk-based authentication market.
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