Market Overview:
The global risk-based authentication solution market is expected to grow from USD 2.02 billion in 2018 to USD 4.06 billion by 2030, at a CAGR of 10.5% from 2018 to 2030. The growth of the market can be attributed to the increasing need for risk-based authentication solutions across various industries and the growing adoption of cloud-based risk-based authentication solutions. However, data privacy and security concerns may restrain the growth of this market during the forecast period. On basis on type, cloud-based segment is expected to hold a larger share of global risk based authentication solution market during forecast period due its advantages such as scalability and flexibility over on premise solutions .Whereas, on premise segment is projected grow at higher CAGR owing rising demand for customized security solutions among enterprises . On basis application , BFSI sector is anticipated account for largest share in terms revenue contribution followed by government sector during forecast period .This can be attributed growing number online banking users globally coupled with stringent regulations mandating use RBAS in financial institutions .
Product Definition:
Risk-based authentication (RBA) is an approach to security that determines the risk associated with each interaction a user has with an organization's systems and data. Authentication solutions are then deployed based on the level of risk identified for each user. For example, a high-risk user might be required to provide more evidence of their identity than a low-risk user.
Organizations use RBA to manage the risks associated with authentication by assessing and mitigating threats, balancing usability and security, and complying with regulations.
Cloud-based:
Cloud-based solutions are expected to be widely used in the risk-based authentication solution market owing to factors such as low cost of implementation and high flexibility. The major factor driving the growth of this market is increasing demand for cloud services from small and medium enterprises. Cloud service providers are focusing on providing flexible, scalable, reliable, and convenient security solutions that meet customer requirements which is further expected to drive the growth of this market over the forecast period.
On-premises:
On-premises is a term used for computer software and related data that are installed and run from the originating company's server. The term on-premises can be used interchangeably with the terms client or customer in some cases. On-premise solutions provide end to end security services such as authentication, encryption, access control & auditing along with reporting & monitoring capabilities through a networked interface to an organization’s internal systems.
Application Insights:
The banking, financial services, and insurance (BFSI) segment dominated the global risk-based authentication solution market in 2017. The BFSI sector is one of the leading adopters of modern authentication technologies as they help in reducing frauds and increasing security. This sector has been witnessing significant growth over the past few years owing to its core business operations that are prone to risks due to increased exposure to frauds, theft, and other crimes. As a result, it has become essential for this industry to adopt robust security solutions that can protect sensitive data from being misused or stolen by hackers or intruders.
Risk-based access control enables organizations within BFSI sectors such as banks.
Regional Analysis:
North America is expected to be the key regional market over the forecast period owing to high demand for BSA solutions from various end-use industries. The U.S., in particular, has been witnessing a significant rise in cyberattacks that render organizations vulnerable to data breaches and financial losses. This factor is anticipated to boost the adoption of BSA solutions across numerous sectors, thereby driving growth across this region as well.
Asia Pacific risk-based authentication solution market is projected to grow at a lucrative rate over the forecast period due to increasing government initiatives and regulations aimed at improving online security standards for critical infrastructure systems such as banking & finance, healthcare & life sciences, transportation networks among others. Furthermore, rising incidences of cybercrimes are also propelling demand for RBA solutions among enterprises operating these critical infrastructures in an attempt prevent further economic losses or exposure of sensitive information/data breach incidents (KPMG 2016).
Growth Factors:
- Increasing demand for risk-based authentication solutions from small and medium businesses (SMBs) due to the increasing number of cyber threats targeting these businesses.
- The growing need for strong authentication methods in order to protect against data breaches and fraud.
- The increasing adoption of cloud-based applications and services, which require stronger authentication methods than traditional on-premises applications.
- The rising popularity of mobile devices and the BYOD trend, which has led to an increase in the number of sensitive transactions conducted using mobile devices.
- The growing demand for multifactor authentication solutions in order to meet compliance requirements such as PCI DSS 3
Scope Of The Report
Report Attributes
Report Details
Report Title
Risk-based Authentication Solution Market Research Report
By Type
Cloud-based, On-premises
By Application
Banking, Financial Services, and Insurance (BFSI), Government, Healthcare, Manufacturing, Retail, Telecommunication, Others
By Companies
IBM, Broadcom, Micro Focus, Okta, Gemalto, Vasco Data Security, Secureauth, Rsa Security, Entrust Datacard, Lexisnexis, Gurucul, Equifax, Ping Identity, Forgerock, Onelogin, Centrify, Crossmatch, Biocatch, Oracle, Evidian, Identity Automation, Nopassword, Silverfort, Iovation, Ezmcom
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
182
Number of Tables & Figures
128
Customization Available
Yes, the report can be customized as per your need.
Global Risk-based Authentication Solution Market Report Segments:
The global Risk-based Authentication Solution market is segmented on the basis of:
Types
Cloud-based, On-premises
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), Government, Healthcare, Manufacturing, Retail, Telecommunication, Others
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:
- IBM
- Broadcom
- Micro Focus
- Okta
- Gemalto
- Vasco Data Security
- Secureauth
- Rsa Security
- Entrust Datacard
- Lexisnexis
- Gurucul
- Equifax
- Ping Identity
- Forgerock
- Onelogin
- Centrify
- Crossmatch
- Biocatch
- Oracle
- Evidian
- Identity Automation
- Nopassword
- Silverfort
- Iovation
- Ezmcom
Highlights of The Risk-based Authentication Solution 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:
- Cloud-based
- On-premises
- By Application:
- Banking, Financial Services, and Insurance (BFSI)
- Government
- Healthcare
- Manufacturing
- Retail
- Telecommunication
- Others
- 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 Risk-based Authentication Solution 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.
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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?
A risk-based authentication solution is a security measure that uses data about an individual's risk factors to determine whether they are likely to pose a threat. This information can be used to create an authentication process that is tailored to the individual's specific needs and risks.
Some of the key players operating in the risk-based authentication solution market are IBM, Broadcom, Micro Focus, Okta, Gemalto, Vasco Data Security, Secureauth, Rsa Security, Entrust Datacard, Lexisnexis, Gurucul, Equifax, Ping Identity, Forgerock, Onelogin, Centrify, Crossmatch, Biocatch, Oracle, Evidian, Identity Automation, Nopassword, Silverfort, Iovation, Ezmcom.
The risk-based authentication solution market is expected to grow at a compound annual growth rate of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Risk-based Authentication Solution 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 Risk-based Authentication Solution Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Risk-based Authentication Solution 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 Risk-based Authentication Solution 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 Risk-based Authentication Solution Market Size & Forecast, 2018-2028
4.5.1 Risk-based Authentication Solution Market Size and Y-o-Y Growth
4.5.2 Risk-based Authentication Solution Market Absolute $ Opportunity
Chapter 5 Global Risk-based Authentication Solution 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 Risk-based Authentication Solution Market Size Forecast by Type
5.2.1 Cloud-based
5.2.2 On-premises
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Risk-based Authentication Solution 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 Risk-based Authentication Solution Market Size Forecast by Applications
6.2.1 Banking
6.2.2 Financial Services
6.2.3 and Insurance (BFSI)
6.2.4 Government
6.2.5 Healthcare
6.2.6 Manufacturing
6.2.7 Retail
6.2.8 Telecommunication
6.2.9 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Risk-based Authentication Solution 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 Risk-based Authentication Solution 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 Risk-based Authentication Solution Analysis and Forecast
9.1 Introduction
9.2 North America Risk-based Authentication Solution 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 Risk-based Authentication Solution Market Size Forecast by Type
9.6.1 Cloud-based
9.6.2 On-premises
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 Risk-based Authentication Solution Market Size Forecast by Applications
9.10.1 Banking
9.10.2 Financial Services
9.10.3 and Insurance (BFSI)
9.10.4 Government
9.10.5 Healthcare
9.10.6 Manufacturing
9.10.7 Retail
9.10.8 Telecommunication
9.10.9 Others
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 Risk-based Authentication Solution Analysis and Forecast
10.1 Introduction
10.2 Europe Risk-based Authentication Solution 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 Risk-based Authentication Solution Market Size Forecast by Type
10.6.1 Cloud-based
10.6.2 On-premises
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 Risk-based Authentication Solution Market Size Forecast by Applications
10.10.1 Banking
10.10.2 Financial Services
10.10.3 and Insurance (BFSI)
10.10.4 Government
10.10.5 Healthcare
10.10.6 Manufacturing
10.10.7 Retail
10.10.8 Telecommunication
10.10.9 Others
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 Risk-based Authentication Solution Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Risk-based Authentication Solution 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 Risk-based Authentication Solution Market Size Forecast by Type
11.6.1 Cloud-based
11.6.2 On-premises
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 Risk-based Authentication Solution Market Size Forecast by Applications
11.10.1 Banking
11.10.2 Financial Services
11.10.3 and Insurance (BFSI)
11.10.4 Government
11.10.5 Healthcare
11.10.6 Manufacturing
11.10.7 Retail
11.10.8 Telecommunication
11.10.9 Others
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 Risk-based Authentication Solution Analysis and Forecast
12.1 Introduction
12.2 Latin America Risk-based Authentication Solution 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 Risk-based Authentication Solution Market Size Forecast by Type
12.6.1 Cloud-based
12.6.2 On-premises
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 Risk-based Authentication Solution Market Size Forecast by Applications
12.10.1 Banking
12.10.2 Financial Services
12.10.3 and Insurance (BFSI)
12.10.4 Government
12.10.5 Healthcare
12.10.6 Manufacturing
12.10.7 Retail
12.10.8 Telecommunication
12.10.9 Others
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) Risk-based Authentication Solution Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Risk-based Authentication Solution 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) Risk-based Authentication Solution Market Size Forecast by Type
13.6.1 Cloud-based
13.6.2 On-premises
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) Risk-based Authentication Solution Market Size Forecast by Applications
13.10.1 Banking
13.10.2 Financial Services
13.10.3 and Insurance (BFSI)
13.10.4 Government
13.10.5 Healthcare
13.10.6 Manufacturing
13.10.7 Retail
13.10.8 Telecommunication
13.10.9 Others
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 Risk-based Authentication Solution Market: Competitive Dashboard
14.2 Global Risk-based Authentication Solution Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 IBM
14.3.2 Broadcom
14.3.3 Micro Focus
14.3.4 Okta
14.3.5 Gemalto
14.3.6 Vasco Data Security
14.3.7 Secureauth
14.3.8 Rsa Security
14.3.9 Entrust Datacard
14.3.10 Lexisnexis
14.3.11 Gurucul
14.3.12 Equifax
14.3.13 Ping Identity
14.3.14 Forgerock
14.3.15 Onelogin
14.3.16 Centrify
14.3.17 Crossmatch
14.3.18 Biocatch
14.3.19 Oracle
14.3.20 Evidian
14.3.21 Identity Automation
14.3.22 Nopassword
14.3.23 Silverfort
14.3.24 Iovation
14.3.25 Ezmcom
