Market Overview:
The global phone-based authentication solutions market is expected to grow at a CAGR of 16.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for multifactor authentication solutions and the rising number of cyber-attacks across industries. Based on type, the global phone-based authentication solutions market is segmented into single factor certification and multifactor certification. Multifactor certification is expected to witness higher growth during the forecast period as it provides enhanced security against cyber threats. Based on application, the global phone-based authentication solutions market is segmented into banking, financial services, and insurance (BFSI), payment card industry (PCI), government, healthcare, retail, and others. The BFSI sector accounted for majority of the share in 2017 owing to increasing adoption of multifactor authentication solutions by banks and other financial institutions to protect customer data from cyber threats.
Product Definition:
Phone-based authentication solutions are methods of verifying a user's identity by asking them to provide information that only they would know. This can be done through a voice call, SMS message, or an app. Phone-based authentication is important because it provides an extra layer of security beyond passwords and helps ensure that the person trying to access your account is actually who they say they are.
Single Factor Certification:
Single-factor certification is a type of digital authentication that uses only one piece of information, usually a password or passcode, to prove who you are. It’s the most basic form of two-factor authentication and is often used for securing access to sensitive data.
Multifactor Certification:
Multifactor certification is a combination of two or more authentication factors used for identification and verification purposes. It is usually a set of credentials that are required to verify an individual’s identity during the course of a transaction. The most common types of multifactor authentication include knowledge-based and possession-based multifactor authentication, where the user needs to provide additional information such as password, pin code, OTP tokens etc., in addition to traditional data such as name & date of birth.
Application Insights:
The banking, financial services and insurance (BFSI) segment dominated the global phone-based authentication solutions market in 2017. The BFSI sector is one of the leading adopters of these authentication solutions as they help in reducing frauds at a higher level by ensuring that only authorized users are accessing sensitive data from their systems.
The payment card industry (PCI) also has a significant share in terms of revenue generation. Phone-based authentication solutions are widely used for PCI compliance as it helps to ensure that only authorized personnel have access to cardholder data during transactions. Furthermore, increasing awareness among organizations regarding payment card security is expected to drive the adoption over the forecast period.
Other applications include government and education sectors which employ these authenticators for 2FA or multi-factor authentication procedures respectively across various networks, devices and operating systems globally thereby driving demand over the forecast period.
Regional Analysis:
The market in North America is expected to grow at a significant rate over the forecast period. This growth can be attributed to increasing government regulations and mandates for data security across various sectors, such as healthcare, banking & financial services, and government. For instance, in June 2018, the U.S.
In addition to this major development across various industries within the region has also increased adoption of phone-based authentication solutions thereby driving regional market growth over the forecast period.
Growth Factors:
- Increasing demand for phone-based authentication solutions from small and medium businesses (SMBs) due to the increasing number of cyber threats.
- The growing trend of Bring Your Own Device (BYOD) in enterprises, which is leading to an increase in the demand for phone-based authentication solutions.
- The increasing use of mobile devices for online banking and other financial transactions, which is driving the demand for phone-based authentication solutions.
- The rising adoption of cloud-based services, which is leading to an increase in the need for secure authentication mechanisms.
- The growing popularity of social networking sites and online gaming platforms, which are resulting in a higher number of cyber attacks
Scope Of The Report
Report Attributes
Report Details
Report Title
Phone-based Authentication Solutions Market Research Report
By Type
Single Factor Certification, Multifactor Certification
By Application
Banking, Financial Services, And Insurance (BFSI), Payment Card Industry (PCI), Government
By Companies
Broadcom, Gemalto, Shearwater Group, Symantec, VASCO Data Security International
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
230
Number of Tables & Figures
161
Customization Available
Yes, the report can be customized as per your need.
Global Phone-based Authentication Solutions Market Report Segments:
The global Phone-based Authentication Solutions market is segmented on the basis of:
Types
Single Factor Certification, Multifactor Certification
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Banking, Financial Services, And Insurance (BFSI), Payment Card Industry (PCI), Government
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Broadcom
- Gemalto
- Shearwater Group
- Symantec
- VASCO Data Security International
Highlights of The Phone-based Authentication Solutions Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Single Factor Certification
- Multifactor Certification
- By Application:
- Banking, Financial Services, And Insurance (BFSI)
- Payment Card Industry (PCI)
- Government
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Phone-based Authentication Solutions Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Phone-based authentication solutions are a way to authenticate users by verifying their phone number. This can be done through a text message or an app on the user's phone.
Some of the major players in the phone-based authentication solutions market are Broadcom, Gemalto, Shearwater Group, Symantec, VASCO Data Security International.
The phone-based authentication solutions market is expected to register a CAGR of 16.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Phone-based Authentication Solutions Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Phone-based Authentication Solutions Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Phone-based Authentication Solutions Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Phone-based Authentication Solutions Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Phone-based Authentication Solutions Market Size & Forecast, 2018-2028
4.5.1 Phone-based Authentication Solutions Market Size and Y-o-Y Growth
4.5.2 Phone-based Authentication Solutions Market Absolute $ Opportunity
Chapter 5 Global Phone-based Authentication Solutions Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Phone-based Authentication Solutions Market Size Forecast by Type
5.2.1 Single Factor Certification
5.2.2 Multifactor Certification
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Phone-based Authentication Solutions Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Phone-based Authentication Solutions Market Size Forecast by Applications
6.2.1 Banking
6.2.2 Financial Services
6.2.3 And Insurance (BFSI)
6.2.4 Payment Card Industry (PCI)
6.2.5 Government
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Phone-based Authentication Solutions Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Phone-based Authentication Solutions Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Phone-based Authentication Solutions Analysis and Forecast
9.1 Introduction
9.2 North America Phone-based Authentication Solutions Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Phone-based Authentication Solutions Market Size Forecast by Type
9.6.1 Single Factor Certification
9.6.2 Multifactor Certification
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Phone-based Authentication Solutions Market Size Forecast by Applications
9.10.1 Banking
9.10.2 Financial Services
9.10.3 And Insurance (BFSI)
9.10.4 Payment Card Industry (PCI)
9.10.5 Government
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Phone-based Authentication Solutions Analysis and Forecast
10.1 Introduction
10.2 Europe Phone-based Authentication Solutions Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Phone-based Authentication Solutions Market Size Forecast by Type
10.6.1 Single Factor Certification
10.6.2 Multifactor Certification
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Phone-based Authentication Solutions Market Size Forecast by Applications
10.10.1 Banking
10.10.2 Financial Services
10.10.3 And Insurance (BFSI)
10.10.4 Payment Card Industry (PCI)
10.10.5 Government
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Phone-based Authentication Solutions Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Phone-based Authentication Solutions Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Phone-based Authentication Solutions Market Size Forecast by Type
11.6.1 Single Factor Certification
11.6.2 Multifactor Certification
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Phone-based Authentication Solutions Market Size Forecast by Applications
11.10.1 Banking
11.10.2 Financial Services
11.10.3 And Insurance (BFSI)
11.10.4 Payment Card Industry (PCI)
11.10.5 Government
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Phone-based Authentication Solutions Analysis and Forecast
12.1 Introduction
12.2 Latin America Phone-based Authentication Solutions Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Phone-based Authentication Solutions Market Size Forecast by Type
12.6.1 Single Factor Certification
12.6.2 Multifactor Certification
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Phone-based Authentication Solutions Market Size Forecast by Applications
12.10.1 Banking
12.10.2 Financial Services
12.10.3 And Insurance (BFSI)
12.10.4 Payment Card Industry (PCI)
12.10.5 Government
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Phone-based Authentication Solutions Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Phone-based Authentication Solutions Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Phone-based Authentication Solutions Market Size Forecast by Type
13.6.1 Single Factor Certification
13.6.2 Multifactor Certification
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Phone-based Authentication Solutions Market Size Forecast by Applications
13.10.1 Banking
13.10.2 Financial Services
13.10.3 And Insurance (BFSI)
13.10.4 Payment Card Industry (PCI)
13.10.5 Government
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Phone-based Authentication Solutions Market: Competitive Dashboard
14.2 Global Phone-based Authentication Solutions Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Broadcom
14.3.2 Gemalto
14.3.3 Shearwater Group
14.3.4 Symantec
14.3.5 VASCO Data Security International
