According to the recent report by IMARC Group, titled “Passive Authentication Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.’ the study provides a detailed analysis of the industry, including the global passive authentication market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big Is the Passive Authentication Market?
The global passive authentication market size reached US$ 1.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.0 Billion by 2028, exhibiting a growth rate (CAGR) of 23.8% during 2023-2028.
What is Passive Authentication?
Passive authentication refers to a method of verifying a user’s identity without requiring explicit actions or inputs from the user. It relies on continuous monitoring and analysis of various behavioural, physiological, and contextual factors to authenticate the user seamlessly. This approach minimizes the need for traditional authentication methods like passwords or biometric scans, thereby offering a more convenient and frictionless user experience. The characteristics of passive authentication include its unobtrusive nature, as it operates in the background without user intervention. It leverages machine learning algorithms and advanced analytics to analyse user behaviour patterns, such as keystroke dynamics, mouse movements, device usage, location, and other contextual data. By establishing a unique user profile based on these factors, the system can continuously monitor and verify the user’s identity.
Passive authentication offers several features that distinguish it from traditional authentication methods. It provides real-time authentication, adapting to evolving user behaviour and detecting anomalies that may indicate fraudulent activity. Additionally, it offers continuous monitoring, enabling dynamic risk assessment and reducing the reliance on static credentials. This approach enhances security by adding an additional layer of protection against unauthorized access attempts. Passive authentication finds extensive applications in various industries, including healthcare and telecommunication industries.
What are the growth prospects and trends in the Passive Authentication industry?
The increasing demand for convenient and seamless user experiences represents one of the key factors influencing the market growth. Moreover, the rise in cyberattacks and identity theft incidents has created a need for more robust authentication methods, which is contributing to the market growth. The development of sophisticated algorithms is enabling accurate and reliable user behaviour analysis, making passive authentication more effective, which is leading the market toward growth. Passive authentication aligns well with the rising mobile and wearable technology trend, offering a seamless authentication experience across various devices which is fueling the market growth.
The rapid digitization and the widespread adoption of remote work culture are providing a secure and convenient solution for remote authentication, thus propelling the market growth. Passive authentication is reducing the reliance on costly hardware-based authentication systems, making it an attractive option for organizations coupled with passive authentication can easily scale to accommodate a large number of users without significant infrastructure changes which is favouring the market growth. Along with this, it is eliminating the need for frequent password changes and complex authentication procedures, passive authentication enhances user satisfaction and engagement, which is propelling the market growth. Passive authentication helps in preventing fraudulent transactions and protects customer accounts. Coupled with this, rising trend of online shopping is contributing to the market growth significantly. In addition to this, rising incidences of data breaches in the banks and other financial establishments is facilitating the need for robust authentication technologies, which is driving the market toward growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Component:
- Solution
- Services
Breakup by Deployment Mode:
- On-premises
- Cloud-based
Breakup by Organization Size:
- Small and Medium-sized Enterprises
- Large Enterprises
Breakup by Function:
- Compliance Management
- Marketing Management
- Risk Management
- Others
Breakup by End Use Industry:
- BFSI
- Government
- IT and Telecom
- Retail and Consumer Goods
- Healthcare
- Media and Entertainment
- Others
Breakup by Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Aware Inc.
- BioCatch Ltd.
- Cisco Systems Inc.
- Equifax Inc.
- Experian plc
- Fair Isaac Corporation
- International Business Machines Corporation
- NEC Corporation
- Nuance Communications Inc.
- Microsoft Corporation
- RSA Security LLC
- Thales Group
- Verint Systems Inc.
Request for a PDF Sample of this Report: https://www.imarcgroup.com/passive-authentication-market/requestsample
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
Other Reports:
https://dribbble.com/shots/21607471-Industrial-Agitators-Market-Demand-and-Overview-Till-2027
https://sites.google.com/view/xr-market/home
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