Transparency Market Research
The growing use of advanced technologies and wide integration of advanced technologies has surged demand for user authentication solutions. Use of this solution helps in verifying numerous human to machine transactions and credentials. The demand in this market is rising at a significant rate due to its growing use in almost all the industries including telecommunication, defense and surveillance, automotive, IT, consumer electronics, healthcare sector, and service industries.
With the advancements, use of biometric technologies and software and hardware applications and cloud-based authentication services has further augmented demand in the global user authentication solutions market. Changing corporate work culture and growing acceptance for bring your own devices has also positively influenced the growth in this market. Moreover, significant rise in authentication-as-a-service solutions that benefits users with advanced security and authenticates organizations will further strengthen growth for user authentication solutions.
Technological developments are also fueling demand for multi-layer authentication, which gives user higher security and protects crucial data form cyber-attacks and threats. Additionally, high requirement for interoperability and physical authenticators with varying IT environments increases the complexity of deployment. This factor might limit the growth in the global user authentication solutions market.
Strategic Alliance to Open New Avenues for Growth in User Authentication Solutions Market
Leading players in the global user authentication solutions market are investing in strategic development. They are engaged in mergers and acquisition, partnership, and are innovating and expanding their geographical presence by partnering with other companies operating in the same market.
The user authentication solution refers to verification of a wide range of transfers of human to machine credentials which require the authenticity of the user for confirmation. In contrast the term machine authentication refers to automated process which does not require a human input. User authentication is required in all human to computer interaction other than automatically and guest logged in to a particular account. The authentication authorizes human to machine interaction on wireless and wired networks so that the system can provide access to internet and network connected resources and systems. There has been significant advancement in the field of user authentication. Traditionally the user authentication involved a password combination and simple ID. Now there are a wide range of user authentication factors which has been included for the improvement and enhancement of security in the communications.
The user authentication solution market by authentication factor could be segmented into possession factors, knowledge factors and inherence factors. The knowledge factor require the user to have a certain exclusive knowledge which may include ID password and User names or pin number which is exclusively known by the user fall under this category. Possession factor include all the attributed which the user needs to possess in order to log in. Some of the possession factors may include smart phone apps, key fobs, SIM Card and employee ID card among others. Inherence factor include different inherent traits which the user require for the confirmation of the user login. The inherence factors may include component like retina scans, biometrics, finger vein scans, fingerprint scans, voice recognition and facial recognition among others. The knowledge factors segment in the authentication solution market segmented by authentication factor held the largest share in the authentication solution market in term of revenue share. Knowledge factor is most widely used for the user authentication by users thus resulting in this high revenue share.
The user authentication solution market by type has been segmented into single factor authentication and two factor authentication. The two factor segment in the user authentication solution market segmented by type held the largest market share in terms of revenue. The two factor authentication products could be divided into token or a hardware and software which recognizes and authenticates a particular individual at the time of logging in.
The user authentication solution market by end use industry has been segmented into Defense and Surveillance sector, automotive industry, healthcare sector, telecommunication industry, consumer electronics, IT sector, service sector and others. The telecommunication sector segment in the user authentication solution market segmented by end use industry is expected to lead the market in terms of revenue share. The healthcare sector is expected to grow at the fastest rate over the next few years.
Geographically the global user authentication solution market has been broadly segmented into North America, Europe, Middle East and Africa, Asia Pacific and Rest of the World. North America leads the global user authentication solution market. Europe followed North America in terms of revenue share. Asia Pacific is expected to grow at the fastest rate over the next few years in terms of revenue growth in the user authentication solution market. The user authentication solution has high adoption rate in North America, thus resulting in the high revenue share. Huge growth in demand for smart phones, tablets and laptops is expected to result in the high growth rate for the user authentication market in Asia Pacific.
Some of the key players operating in the user authentication market include Computer Sciences Corp. (Virginia, U.S.), CA Technologies Inc. (New York, U.S.), GermaltoNV (Amsterdam, The Netherland), SecureAuth (U.S.), VASCO Data Security International Inc. (Illinois, U.S.) and SecurEnvoy Ltd (U.K.) among others.
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