Market Overview

The global advanced authentication market is expected to grow at a CAGR of 15.6% from 2021 to 2028, according to a report by Grand View Research. The market is driven by the increasing need for advanced security measures to protect data and prevent unauthorized access to networks and systems. Advanced authentication solutions provide a higher level of security by using biometric authentication, multi-factor authentication, and other technologies to verify user identities.

The market is expected to grow significantly due to the rising adoption of cloud-based authentication solutions and the increasing use of mobile devices for online transactions. Additionally, the increasing popularity of Bring Your Own Device (BYOD) policies and the growing trend of remote work are also driving the demand for advanced authentication solutions.

Meaning

Advanced authentication refers to the use of advanced security measures to verify the identity of users and prevent unauthorized access to networks, systems, and applications. It involves the use of various technologies, such as biometric authentication, multi-factor authentication, and smart cards, to ensure secure access to sensitive data and applications.

Advanced authentication solutions are designed to provide a higher level of security than traditional password-based authentication methods. They offer a more reliable way to verify user identities, which helps prevent data breaches and other security threats.

Executive Summary

The global advanced authentication market is driven by the increasing need for advanced security measures to protect data and prevent unauthorized access to networks and systems. The market is expected to grow significantly due to the rising adoption of cloud-based authentication solutions and the increasing use of mobile devices for online transactions.

The market is expected to witness significant growth in the coming years, driven by factors such as the increasing popularity of Bring Your Own Device (BYOD) policies, the growing trend of remote work, and the rising demand for advanced security solutions. The report by Grand View Research predicts that the market will grow at a CAGR of 15.6% from 2021 to 2028.

Important Note: The companies listed in the image above are for reference only. The final study will cover 18–20 key players in this market, and the list can be adjusted based on our client’s requirements.

Key Market Insights

• The global advanced authentication market is expected to grow at a CAGR of 15.6% from 2021 to 2028.
• The market is driven by the increasing need for advanced security measures to protect data and prevent unauthorized access to networks and systems.
• Advanced authentication solutions provide a higher level of security by using biometric authentication, multi-factor authentication, and other technologies to verify user identities.
• The increasing adoption of cloud-based authentication solutions and the growing use of mobile devices for online transactions are expected to drive market growth.
• The market is expected to witness significant growth in the coming years, driven by factors such as the increasing popularity of Bring Your Own Device (BYOD) policies, the growing trend of remote work, and the rising demand for advanced security solutions.

Market Drivers

1. Increasing Need for Advanced Security Measures

The increasing threat of cyber attacks and data breaches has made it necessary for organizations to implement advanced security measures to protect their networks, systems, and applications. Advanced authentication solutions provide a higher level of security than traditional password-based authentication methods, which helps prevent unauthorized access and data breaches.

2. Rising Adoption of Cloud-Based Authentication Solutions

Cloud-based authentication solutions offer a number of benefits over on-premise solutions, including lower costs, increased scalability, and easier deployment. As a result, the adoption of cloud-based authentication solutions is increasing among organizations of all sizes, which is driving the growth of the global advanced authentication market.

3. Growing Use of Mobile Devices for Online Transactions

The increasing use of mobile devices for online transactions has created a need for advanced authentication solutions that can provide secure access to sensitive data and applications. As a result, the demand for biometric authentication, multi-factor authentication, and other advanced authentication technologies is increasing.

4. Popularity of Bring Your Own Device (BYOD) Policies

The popularity of BYOD policies has led to an increase in the use of personal devices for work-related tasks. This has created a need for advanced authentication solutions that can provide secure access to corporate networks and applications from personal devices. As a result, the demand for advanced authentication solutions is increasing among organizations that have implemented BYOD policies.

Market Restraints

1. High Cost of Implementation

The implementation of advanced authentication solutions can be expensive, especially for small and medium-sized enterprises (SMEs). This can act as a restraint to market growth, as SMEs may not have the financial resources to invest in advanced authentication solutions.

2. Lack of Awareness

Despite the increasing threat of cyber attacks and data breaches, there is still a lack of awareness among some organizations about the importance of advanced authentication solutions. This can act as a restraint to market growth, as organizations may not see the need to invest in advanced authentication solutions.

3. Integration Issues

Integrating advanced authentication solutions with existing IT systems can be a complex and time-consuming process. This can act as a restraint to market growth, as organizations may be hesitant to invest in solutions that require significant changes to their existing IT infrastructure.

Market Opportunities

1. Growing Trend of Remote Work

The COVID-19 pandemic has led to a significant increase in remote work, which has created a need for advanced authentication solutions that can provide secure access to corporate networks and applications from remote locations. This presents a significant opportunity for the global advanced authentication market, as organizations look for solutions that can provide secure remote access.

2. Increasing Demand for Biometric Authentication

Biometric authentication is becoming increasingly popular as a way to verify user identities, due to its high level of security and ease of use. This presents an opportunity for the global advanced authentication market, as organizations look for solutions that can provide secure biometric authentication.

3. Growing Adoption of Internet of Things (IoT)

The increasing adoption of IoT devices is creating a need for advanced authentication solutions that can provide secure access to these devices. This presents an opportunity for the global advanced authentication market, as organizations look for solutions that can provide secure authentication for IoT devices.

Market Dynamics

The global advanced authentication market is highly competitive, with a large number of vendors offering a wide range of solutions. The market is driven by the increasing need for advanced security measures to protect data and prevent unauthorized access to networks and systems.

The market is expected to witness significant growth in the coming years, driven by factors such as the increasing popularity of Bring Your Own Device (BYOD) policies, the growing trend of remote work, and the rising demand for advanced security solutions.

However, the high cost of implementation, lack of awareness, and integration issues can act as restraints to market growth. To overcome these challenges, vendors need to focus on developing solutions that are cost-effective, easy to integrate, and can effectively address the security needs of organizations.

Regional Analysis

The global advanced authentication market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the market, due to the presence of a large number of vendors and the increasing adoption of advanced authentication solutions among organizations in the region.

Asia Pacific is expected to witness significant growth in the coming years, driven by factors such as the increasing use of mobile devices for online transactions, the growing popularity of BYOD policies, and the rising demand for advanced security solutions.

Competitive Landscape

Leading Companies in the Global Advanced Authentication Market:

1. Gemalto N.V. (Thales Group)
2. NEC Corporation
3. RSA Security LLC (Dell Technologies)
4. HID Global Corporation (Assa Abloy AB)
5. OneSpan Inc.
6. Fujitsu Limited
7. Crossmatch Technologies, Inc.
8. Vasco Data Security International, Inc.
9. Entrust Datacard Corporation
10. CA Technologies (Broadcom Inc.)

Please note: This is a preliminary list; the final study will feature 18–20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.

Segmentation

The global advanced authentication market can be segmented based on technology, application, deployment mode, and organization size.

By technology, the market can be segmented into biometric authentication, multi-factor authentication, smart cards, and others.

By application, the market can be segmented into banking and finance, healthcare, government, retail, IT and telecom, and others.

By deployment mode, the market can be segmented into cloud-based and on-premise.

By organization size, the market can be segmented into small and medium-sized enterprises (SMEs) and large enterprises.

Category-wise Insights

1. Biometric Authentication

Biometric authentication is becoming increasingly popular as a way to verify user identities, due to its high level of security and ease of use. Biometric authentication solutions use physical characteristics, such as fingerprints, facial recognition, and voice recognition, to verify the identity of users.

The growing demand for biometric authentication solutions is expected to drive the growth of the global advanced authentication market. Biometric authentication solutions are particularly popular in the healthcare and banking and finance sectors, where security is of utmost importance.

2. Multi-Factor Authentication

Multi-factor authentication solutions use two or more methods to verify the identity of users, such as a password and a security token. Multi-factor authentication provides a higher level of security than traditional password-based authentication methods, which helps prevent unauthorized access and data breaches.

The increasing need for advanced security measures to protect data and prevent unauthorized access to networks and systems is expected to drive the growth of the global multi-factor authentication market.

3. Smart Cards

Smart card authentication solutions use embedded microchips to store and process data. Smart cards can be used for a wide range of applications, including secure access to buildings, networks, and systems.

The growing demand for smart card authentication solutions in the government and healthcare sectors is expected to drive the growth of the global smart card authentication market.

Key Benefits for Industry Participants and Stakeholders

1. Improved Security

Advanced authentication solutions provide a higher level of security than traditional password-based authentication methods, which helps prevent unauthorized access and data breaches. This can help organizations avoid costly data breaches and other security incidents.

2. Increased Efficiency

Advanced authentication solutions can help organizations improve their efficiency by providing secure access to sensitive data and applications. This can help employees work more efficiently and increase productivity.

3. Cost Savings

Cloud-based authentication solutions can help organizations save money on IT infrastructure and maintenance costs, as they do not require on-premise hardware or software.

SWOT Analysis

Strengths:

• High level of security
• Ease of use
• Increasing adoption of cloud-based solutions

Weaknesses:

• High cost of implementation
• Integration issues
• Lack of awareness among some organizations

Opportunities:

• Growing trend of remote work
• Increasing demand for biometric authentication
• Growing adoption of Internet of Things (IoT)

Threats:

• Cyber attacks and data breaches
• Competition from other security solutions
• Regulatory compliance requirements

Market Key Trends

1. Biometric Authentication

Biometric authentication is becoming increasingly popular as a way to verify user identities, due to its high level of security and ease of use. The growing demand for biometric authentication solutions is expected to drive the growth of the global advanced authentication market.

2. Cloud-Based Authentication Solutions

Cloud-based authentication solutions offer a number of benefits over on-premise solutions, including lower costs, increased scalability, and easier deployment. As a result, the adoption of cloud-based authentication solutions is increasing among organizations of all sizes, which is driving the growth of the global advanced authentication market.

3. Mobile Device Authentication

The increasing use of mobile devices for online transactions has created a need for advanced authentication solutions that can provide secure access to sensitive data and applications. As a result, the demand for mobile device authentication solutions is increasing.

4. Multi-Factor Authentication

Multi-factor authentication solutions are becoming increasingly popular as a way to provide a higher level of security than traditional password-based authentication methods. The growing need for advanced security measures to protect data and prevent unauthorized access to networks and systems is driving the demand for multi-factor authentication solutions.

Covid-19 Impact

The COVID-19 pandemic has had a significant impact on the global advanced authentication market. The shift to remote work and the increasing use of personal devices for work-related tasks has created a need for advanced authentication solutions that can provide secure access to corporate networks and applications from remote locations.

The pandemic has also led to an increase in cyber attacks and data breaches, which has made it even more important for organizations to implement advanced security measures to protect their networks and systems.

The market is expected to witness significant growth in the coming years, as organizations continue to invest in advanced authentication solutions to meet the evolving security needs of their remote workforce.

Key Industry Developments

1. Gemalto NV Acquired 3M’s Identity Management Business

In 2017, Gemalto NV, a leading provider of advanced authentication solutions, acquired 3M’s Identity Management Business. The acquisition helped Gemalto NV expand its portfolio of authentication solutions and strengthen its position in the global advanced authentication market.

2. HID Global Corporation Acquired Crossmatch Technologies

In 2018, HID Global Corporation, a leading provider of identity solutions, acquired Crossmatch Technologies, a provider of biometric authentication solutions. The acquisition helped HID Global Corporation expand its portfolio of biometric authentication solutions and strengthen its position in the global advanced authentication market.

Analyst Suggestions

1. Focus on Developing Cost-Effective Solutions

To overcome the high cost of implementation, vendors need to focus on developing solutions that are cost-effective and can meet the security needs of organizations of all sizes.

2. Increase Awareness Among Organizations

To address the lack of awareness among some organizations, vendors need to increase their marketing efforts and educate organizations about the importance of advanced authentication solutions in protecting their networks and systems.

3. Develop Solutions that are Easy to Integrate

To overcome integration issues, vendors need to focus on developing solutions that are easy to integrate with existing IT systems and can effectively address the security needs of organizations.

Future Outlook

The global advanced authentication market is expected to witness significant growth in the coming years, driven by factors such as the increasing adoption of cloud-based authentication solutions, the growing use of mobile devices for online transactions, and the rising demand for advanced security solutions.

Vendors are expected to focus on developing solutions that are cost-effective, easy to integrate, and can effectively address the security needs of organizations. The increasing adoption of biometric authentication, multi-factor authentication, and other advanced authentication technologies is also expected to drive the growth of the global advanced authentication market in the coming years.

Conclusion

The global advanced authentication market is driven by the increasing need for advanced security measures to protect data and prevent unauthorized access to networks and systems. The market is expected to witness significant growth in the coming years, driven by factors such as the increasing adoption of cloud-based authentication solutions, the growing use of mobile devices for online transactions, and the rising demand for advanced security solutions.

Vendors are focusing on developing solutions that are cost-effective, easy to integrate, and can effectively address the security needs of organizations. The increasing adoption of biometric authentication, multi-factor authentication, and other advanced authentication technologies is also expected to drive the growth of the global advanced authentication market in the coming years.