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Passive Authentication Market Dominated By North America And Europe Region


Introduction

Passive authentication is a method/process of verifying user’s/customer’s identity behavioral patterns such as biometric, contextual, and correlative authentication, and device identification. It also provides multi-factor authentication for enhanced security. It used to verify and validate e-documents and prevent the forgery of digital data. Passive authentication solutions are deployed across various industry verticals, such as Banking, Financial Services, and BFSI, government, telecom and IT, retail and consumer goods, healthcare, media and entertainment, and others as they enable industries to securely authenticate their customers for protecting their financials by leveraging unique human behavioral factors while improving customer experiences.

Drivers of passive authentication market            

The rapid growth of the communication and technology industry globally is fueling the development of advanced authentication solutions. The rising incidence of security breaches across industries is pushing the industry players towards adopting advanced authentication technologies to address this issue. This is fueling the adoption of passive authentication solutions by enterprises across industries. The availability of a good number of players in this market is further fueling the adoption of these solutions, thus boosting the growth passive authentication market. Growing demand to deliver an enhanced user experience and the seamless authentication process among organizations is also uplifting the market growth.

Restraints and opportunities

Technical problems associated with input devices such as speaker and scanner used in passive authentication and compatibility of devices may hamper the growth of the market. However, the growing number of cybercrimes such as identity theft, data breach, and hacking will increase the demand for fraud prevention and data security that will continue to increase the passive authentication market size. Moreover, the growth and implementation of AI for authentication will further boost the market. Increasing acceptance of IoT in several industrial verticals will open growth opportunities for the market.

Market Segmentation

Geographically, North America region is expected to have a significant market share of the global passive authentication market share. The growth is projected on account of the early adoption of biometrics, behavioral analytics, and mobile technology. Europe region is also expected to have a significant market share on account of awareness about the passive authentication coupled with high adoption in various industry verticals. The market of Asia Pacific region is expected to witness a rapid growth owing to the growing number of smartphone users, and the presence of the large number of SMEs in the emerging economies.

By offering, the service segment is expected to have a significant market share as it helps industries to provide personalized and seamless customer service experience.  Cloud-based passive authentication solutions are expected to witness rapid growth on account of its various benefits such as cost-efficiency, scalability, high computing speed, and reduced expenditure on Information Technology infrastructure.

Large Enterprises are expected to have a significant market share. However, the SMEs segment is expected to grow at a rapid pace. By industry vertical segmentation, BFSI is expected to have a significant market share on account of growing transactional volumes and the increasing need to manage digital assets. Passive authentication provides convenient and robust risk-based authentication for online transactions in the BFSI industry


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