Advanced Authentication Market Overview:
In today’s digital world, most of the transactions are being made online. Data security is a major concern for enterprises, government organizations, and individuals. Hackers are finding new ways to steal sensitive information from enterprises and daily users by developing new viruses.
The increasing security threats these days and BYOD (Bring Your Own Device) policy are the major factors that are driving the global advanced authentication market. Supportive government regulations and the ever-expanding usage of advanced authentication across different industry verticals are some other factors responsible for the rising demand for this particular market.
As due to rise in data analytics services, there has been a huge concern for security and privacy of data. It has become easier for the hackers to breach any network easily as every single node is connected to every other on a network. The process of advanced authentication involves two factors process. The first factor provides an external layer of security which is often backed up by a PIN or a password.
The extra layer of security does not require a password, but is a randomly generated, encrypted one time password (OTP) from the service provider end. This OTP is sent to the users’ mobile phone number with a certain timeline for expiration of the OTP. This extra protection for Advanced Authentication Marketit difficult for the intruders to gain access, as the OTP sent to the mobile phone number is not a part of active internet connection.
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Major Key Players:
The prominent players in the advanced authentication market are CA Technologies (U.S.), IBM Corporation (U.S.), HP ESSN (U.S.), CSC BSS (India), Oracle Corporation (U.S.), MasterCard Inc. (U.S.), Atos Corporation (France), Versasec AB (Sweden), Gemalto (the Netherlands), Datacard Group (U.S.), among others, are profiled in Market Research Future analysis and are at the forefront of competition in the global Advanced Authentication market.
April 18, IBM Joins the Sovrin Foundation as a Founding Steward:
The Sovrin Foundation, has announced the joining of IBM as a founding leader of the Sovrin Network. The company, IBM expects to collaborate with other Sovrin members to create, operate and maintain the foundation’s decentralized digital identity network.
September 17, Mojix and CXignited Announce Merger:
Mojix had merged with Europe-based CXignited. The merger is expected to create a larger geographical presence with more resources, scalability and end-to-end retail platform to advance business solutions and technology. The company, Mojix is one of the leaders in global retailers servicing, brands and manufacturing. The merger serves as a growth strategy for the company to expand its footprint over a larger market.
August 17, WatchGuard to Offer Advanced Authentication via Datablink Acquisition:
WatchGuard Technologies had purchased Datablink. The acquisition had made the company to extend its security portfolio apart from the network and wireless security. The company also aims to provide advanced authentication to small and medium enterprises and other large enterprises, on a cloud based service.
Advanced Authentication Market Global Market Segmentation:
Segmentation by solution: single factor authentication and multi factor authentication.
Segmentation by deployment: cloud and on-premise.
Segmentation by product: hardware (hardware tokens, smart cards, biometrics and mobile smart credentials), software and services
Segmentation by vertical: BFSI, Telecommunications, retail & wholesale and engineering & utilities.
Segmentation by region: North America, Europe, Asia Pacific and rest of the world.
Advanced Authentication Market Regional Analysis:
The regional analysis of Advanced Authentication Market is studied for North America, Europe, Asia Pacific and Rest of the World. Since a large number of advanced authentication market firms are based in North America, it is one of the leading player in advanced authentication market. With the advancements in data analytics and connected space, various industries such as retail, BFSI, IT & telecommunication are expected to show an increased usage of two factor authentication in every business transaction, or exchange of data over internet. The increase in use of advanced authentication is observed across all the major regions. Asia-Pacific region is also expected to show some growth due to adoption of digitization and better information technology infrastructure.
Developing countries like India, South Korea and Taiwan are expected to grow at a faster rate due to emerging artificial intelligence technology, and internet of things making every device connected to each other. This connected networks has required for a greater need of authentication. Hence, the key players in the market are constantly innovating and investing in research and development activities in order to create cost-effective product portfolio.
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