The report elaborates the complete details covering product definition, product type, and application. The report covers useful details which are categorized based on Authentication Services production region, major players, and product type which will provide a simplified view of the Authentication Services industry. The Authentication Services market report presents the competitive scenario of the major market players based on the sales revenue, customer demands, company profile, the business tactics used in Authentication Services market which will help the emerging market segments in making vital business decisions.
The Authentication Services Market was valued at USD 731.34 million in 2019 and is expected to reach USD 2411.45 million by 2025, at a CAGR of 22% over the forecast period 2020 – 2025.
Authentication Services Market Segmentation:
This report on Global Authentication Services market is a detailed research study that helps provides answers and pertinent questions with respect to the emerging trends and growth opportunities in this industry. It helps identify each of the prominent barriers to growth, apart from identifying the trends within various application segments of the Global market for Authentication Services. Collecting historical and recent data from various authentic resources and depending on all the factors and trends, the report presents a figurative estimate of the future market condition, along with compound annual growth rate (CAGR).
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Global Authentication Services market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including Entrust Datacard Corporation, Tata Communications., Okta Inc., Thales Group, CA Technology, Inc.(Broadcom Inc.), Trustwave Holdings, Inc. (Singtel), OneLogin Inc., Google LLC, IBM Corporation, Microsoft Corporation, amongst others.
Multi Factor Authentication is Expected to Drive the Market Growth
– Passwords have been a traditional source of authentication for the past couple of years. However, hackers exploit this single gateway to access the records of the users and companies and cause losses worth billions to these entities. A recent study by Verizon suggests that compromised identities represent the top reason for security breaches. In the previous year (2019), the number of data breaches in the United States alone aggregated to 1,473, with more than 164.68 million records exposed, according to the survey data published by the Identity Theft Resource Center.
– Multifactor authentication has been promoted as a countermeasure to reduce the incidences of data breaches. Further, according to Verizon, insecure password practices exploited in 81% of these spurring cyberattacks worldwide in 2017. While employee education and training can help, the demand for multifactor authentication to require additional proof of identity beyond simple username and password is gaining widespread acceptance in the United States.
North America is Expected to Hold the Largest Share
– North America is anticipated to lead the market studied, with the United States being the most prominent contributor. Businesses in the region are increasingly getting dependent on computer networks and electronic data to conduct their regular operations. Increasing pools of personal and financial information are also transferred and stored online.
– According to IBM, the country with the highest average total cost of a data breach amounted to USD 8.19 million in 2019 was the United States. As per the Identity Theft Resource Center, in 2018, the number of data breaches and exposed records in the United States was 1,257 and 471.23 million, respectively.
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This independent 120 pages report guarantees you will remain better informed than your competition. With over 80 tables and figures examining the Authentication Services market, the report gives you a visual, one-stop breakdown of the leading products, submarkets and market leader’s market revenue forecasts as well as analysis to 2025.
Key Takeaways from this Report
- Impact of low unit costs, diversified product ranges and intense competition on the market
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- Regional analysis of the market
- Identifying the latest developments, market shares, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in Excel)
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