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Oct. 14, 2019, 7:49 a.m. EDT

Advanced Authentication Market,Global Market Size, Market Status, Top key players, and Forecasts 2017-2023

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Oct 14, 2019 (AmericaNewsHour) -- Global Advanced Authentication Market, by Solution (Single-factor, Multi-Factor), by Product (Hardware, Software, Service), by Deployment (On-Premise, Cloud), by Industries (BFSI, Utilities, Government, Retail) - Forecast to 2023

Market Synopsis:

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. These factors are driving organizations to install advanced authentication solutions, which help in convenient and secure access to information. Advanced authentication adds an additional layer of security to standard username and password authentication method. Nowadays, cyber-criminal activities are increasing such as hacking of identity badges, and numeric pins, resulted in developing authentication techniques such as OTP (one-time password) authentication, phone-based authentication, and biometrics. These factors resulted to boost the growth of the global advanced authentication market.

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On August 08, 2017 WatchGuard, a leading provider of UTM (Unified Threat Management) & firewall hardware acquired Datablink Company, a leading provider of advanced authentication solutions. This acquisition extends WatchGuard's security portfolio beyond network & wireless security, enabling the company to deliver advanced authentication to small & midsize businesses (SMB) and distributed enterprises.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.

Segmentation:

The global advanced authentication market is segmented into solution, product, deployment, and end-users. The product segment is sub-segmented into software, hardware, and services. The hardware covers a wide range of hardware tokens, biometrics, smart cards, and others. The hardware token sometimes referred as security token. It is a physical device given to an authorized user of computer services to ease authentication. The hardware token is used in addition to or in place of a password to prove that the customer is genuine.

The token acts as an electronic key to access payment services. The biometrics is an authentication method that uses fingerprint, facial scans, and IRIS, or voice recognition technology to identify users. It is most often used as a form of authentication in a broader two-factor or multifactor authentication system since most biometric implementations also require employees to enter user IDs and passwords. Biometrics can be used for both physical access to corporate buildings and internal access to enterprise computers and systems.

On the basis of the solution, the advanced authentication market is segmented into single-factor authentication and multi-factor authentication. Single factor authentication is a process for securing access to a given system such as network, which identifies the user requesting access through one set of credentials only. Whereas in multi-factor authentication, two or more credentials are provided for requesting the access to the network/service. The BYOD allows employees to work without any constraints like time and location, which increases the productivity by reducing the operational costs. This has given rise to the need to authenticate employee credentials before allowing access to business data, applications, and services.

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Advanced Authentication Market:

The global advanced authentication market is estimated to grow at a CAGR of 12% during the forecast period 2017-2023.Some of the key market players in the global 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.), and others.

For the purpose of this study, the global advanced authentication market is divided into solution (Single factor authentication, multi factor authentication), deployment (On-premise,cloud), product(Hardware, Software, Services) and Industries(BFSI, Engineering &Utilities, Government, Retail).

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By Solution

Single Factor Authentication

Multi-Factor Authentication

By Deployment

On-Premise

Cloud

By Product

Hardware

                  – Biometrics

                  – Smart cards

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