Skip to main content

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


Connect with us :
https://www.facebook.com/knowledgesourcing/

https://twitter.com/ksourcingi.

Labels

Labels:

Comments

Post a Comment

Popular posts from this blog

A Comprehensive Study On Shrink Film for Beverage Multipacks Market

Introduction Multipack packaging is used for packaging several containers of beverages together as they are light-weight, durable and attractive. They are used for packaging containers of several drinks such as water, beer, soft drinks, dairy products, and others. They can be used for packaging of containers having different shapes and sizes.  They are used for the packaging of different types of containers such as aluminum cans, glass bottles, plastic bottles, bricks, trayed beverages, and others. In comparison to rigid packaging, shrink films provide a better shelf life, stronger sealing capability, better printability, and lighter weight of the packaging. In this type of packaging lesser plastic is used to pack several bottles, which helps in preventing the environment as well as helps in easy conveyance. Shrink films are made up of several types of materials. However, popular materials used for shrink film packaging are polyethylene, polypropylene, and polyvinyl chlor...
Post a Comment
Read more

A Complete Study On Precision Viticulture Market

Introduction Precision viticulture is precision farming used for optimum productivity of grapes and increasing vineyard performance. The growing cost of inputs is pressurizing growers to use advanced technologies and solutions so as to minimize the overall expenditure. This is a scientific technique used by large wineries to manage large vineyard areas. Precision viticulture uses advanced and emerging technologies such as Global Positioning Systems, Remote Sensor Systems, and Geographical Information System.  It improves the performance of vineyard and help in maximizing production of grapes with good quality. It helps the growers to maintain variability within their vineyard. It is an environment-friendly technique which reduces impacts on the environment. Drivers of Precision viticulture market Growing preference for new technology from growers to maximize efficiency and productivity of vineyard is driving the market of precision viticulture. Rising demand for grap...
Post a Comment
Read more

Adoption Chillers Market Is Expected To Witness Rapid Growth

Introduction Absorption chillers are cooling units that deploy a heat source to generate enough energy required for the cooling process and are primarily used in food storage. They use heat to operate instead of mechanical power. Absorption chillers are very energy-efficient as they consume a very small amount of fuel as compared to other refrigeration devices and generally, they use waste heat from the turbine or water heater to generate energy. Low boiling point refrigerants such as ammonia and lithium bromide are employed in these units. Evaporation, absorption, and regeneration are the three phases of chilling in this unit. They have a lower cooling performance. However, due to their low operational cost, they are widely employed in the domestic, commercial, and industrial sectors. Educational institutes, hospitals, and minivans are some of the users of absorption chillers. Drivers of Adoption Chillers Market The demand for absorption chillers market size is expe...
Post a Comment
Read more