Advanced Authentication in Financial Services Market By Type (Single-factor Authentication, Multi-factor Authentication), By Enterprise Size (Large Enterprises, Small and Medium-sized Enterprises), By Authentication Method (Biometrics, Smart Cards, Mobile Smart Credentials, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
Advanced authentication is a method of authentication that makes adaptive use of real-world identity signals to greatly strengthen identity verification for system and information security. Conceptually, advanced authentication techniques can be distinguished from conventional authentication methods that frequently used simple usernames and passwords or other forms of identification, such as security codes or tokens, which can be easily stolen and used again by determined attackers.
Surge in applications of biometric payment in commercial and government sectors, such as in airports and malls, is one of the major factors driving the growth of advanced authentication in financial services market. In addition, rise in concern for safety and security and biometric technologies are some factors that propel the market growth. However, the cost of installing these technologies in office premises and other spaces is higher due to which consumers do not opt for such high-level security equipment, which is limits the growth of the market. In addition, technological limitations such as poor resolution of the image and low-quality capture devices can cause problems in identification and fear of privacy intrusion. These are some of the factors that hamper the advanced authentication in financial services market growth. On the contrary, the technological development in the field of biometrics and authentication, which can be integrated with machine learning and algorithm, can be used as a strong authentication system. Furthermore, dependency on advanced technology such as biometrics and encryption for authentication purpose by various industry verticals is expected to provide lucrative opportunities for the growth of advanced authentication in financial services market the coming years.
The advanced authentication in financial services market is segmented on the basis of solution, enterprise size, authentication type, and region. On the basis of solution, it is categorized into single factor authentication and multi-factor authentication. On the basis of enterprise size, it is classified into large enterprise and small & medium-sized enterprises. On the basis of authentication type, it is divided into smart cards, biometrics, mobile smart credentials, and others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyzes the profiles of key players operating in the advanced authentication in financial services market such as Fujitsu, Thales, NEC Corporation, Broadcom, Dell Inc., Valid Soft Group, Secur Envoy Ltd., Ping Identity, Mastercard, NetMotion Wireless, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the fingerprint payment industry.
Key benefits for stakeholdersThe study provides in-depth analysis of the global advanced authentication market in financial services along with the current & future trends to illustrate the imminent investment pockets.
Information about key drivers, restrains, & opportunities and their impact analysis on the global advanced authentication market in financial services size are provided in the report.
Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
The quantitative analysis of the global advanced authentication market in financial services from 2021 to 2031 is provided to determine the market potential.
Key Market SegmentsBy TypeSingle-factor Authentication
Multi-factor Authentication
By Enterprise SizeLarge Enterprises
Small and Medium-sized Enterprises
By Authentication MethodBiometrics
Smart Cards
Mobile Smart Credentials
Others
By RegionNorth America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
mastercard
Thales
NEC Corporation
Dell Inc.
ValidSoft Group
SecurEnvoy Ltd
Broadcom Inc.
Ping Identity
Absolute software corporation
Fujitsu
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