The revenue from the global market for authentication solutions reached US$ 13.1 billion. The market for authentication solutions is anticipated to reach $56.3 billion by 2032, expanding at a CAGR of 14.4% between 2022 and 2032. Cyber attackers are employing advanced and sophisticated technologies to carry out cyber-attacks across industries, according to Future Market Insights (FMI). It is now harder to prevent network attacks as a result of these attacks.
Also, a growing worry worldwide is the rise in internet frauds and identity theft. It is anticipated that this will increase the adoption of authentication software. Almost 12% of the worldwide cybersecurity market’s sales revenue comes from authentication solutions.
An authentication solution is a security measure that improves data and system security. It protects against data loss and security breaches. This solution identifies and allows the user to enter or access the system with the help of user ID and password.
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This also depends on the type of authentication solution implemented in the system like single factor authentication solution or multi-factor authentication solution. It offers layers of security for preventing data and network from cyber-attackers.
The authentication solution market is a rapidly growing industry that offers a range of technologies and solutions to verify the identity of individuals and entities in order to ensure secure access to systems, applications, data, or physical locations.
This market is being driven by several factors, including the increasing need for secure access to digital assets, the growing adoption of cloud-based services, and the rising threat of cybercrime. The market is also subject to a range of regulatory requirements and standards, which can affect the adoption and deployment of new technologies and solutions.
Key Takeaways: Authentication Solution Market
· By authentication type, the single factor authentication solution market is growing dominantly with a CAGR of around 12.9% between 2022 & 2032.
· By enterprise size, demand for authentication solution from small & mid-sized enterprises (SMEs) is estimated to be growing at a higher rate than large enterprises.
· By industry, BFSI industry is will hold the highest market share by 2032. However, the healthcare industry is projected to showcase a significant growth of around 18.1% between 2022 & 2032.
· By region, North America authentication solution market in 2021 was holding the highest market share of around 32.2%
· South Asia & Pacific region is estimated to grow at a CAGR of around 18.1% in the forecast period.
“Increasing number of sophisticated cyber-attacks across industries and data breaches will create conducive environment for authentication solutions market players. This service downtime and data breach severely affects the customer base and network security of these enterprises. To avoid downtime and data breach and to prevent the enterprise network from cyber-attacks, companies are implementing the authentication solution’ says FMI analyst.
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Key Companies Profiled
- IBM
- HID Global
- JumpCloud
- RSA Security
- Gemalto (Thales)
- Duo Security (Cisco)
- Avatier
- Entrust Datacard
- TrustBuilder
- Broadcom
- REVE Secure
Global Authentication Solution Market Outlook by Category
By Authentication Type:
- Single Factor Authentication
- Multi Factor Authentication
By Enterprise Size:
- Large Enterprises
- Small and Mid-Sized Enterprises (SMEs)
By Industry:
- IT & Telecom
- BFSI
- Healthcare
- Manufacturing
- Retail
- Government
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Innovation / Development Trends
4. Pricing Analysis
4.1. Pricing Analysis, By Authentication Type
4.2. Global Average Pricing Analysis Benchmark
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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