The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Mobile User Authentication Market Size. The growth sectors of the Mobile User Authentication Market Size are identified with precision for a better growth perspective.
According to MRFR, the Global Mobile User Authentication Market is estimated to reach USD 3.45 Billion by 2024, recording a CAGR of 25.9% during the forecast period (2019–2024).
One of the key drivers of the mobile user authentication market is rising data generation due to the growing digitisation and virtualization industry. In addition, there has been an increase in corporate organizational efficiency due to digitalisation, as data can be conveniently transferred from one stage to another without any difficulty. However, related security concerns, such as cyberattacks and data breaches, are subject to impact on companies. Therefore, in order to make data more reliable, including confidential data, contract details and details on research and development, businesses and organizations are moving towards mobile user authentication. In addition , other factors such as the rising trends in online data sharing and BYOD, as well as the increasing traction among businesses, drive demand for mobile user authentication to secure data from fraudulent activities and other vulnerabilities. Growing global cloud adoption also leads to data sharing, making it easier for companies , organisations, industries and individuals.
The global mobile user authentication market is analyzed based on organization size, component, end-user and region.
Based on component, global mobile user authentication market has been divided into solutions and services. The solution segment has been further divided as biometric authentication, one-time passwords, QR code validation and others.
The global mobile user authentication market, based on the organization size, has been bifurcated into large enterprises and SMEs.
By end user, the global mobile user authentication market has been segmented into IT & telecommunication, BFSI, retail, healthcare, government, media and entertainment, and others.
It is expected that the global demand for mobile user authentication will expand at a significant rate over the 2018 to 2024 forecast period. Global smartphone app authentication geographic research was performed for North America (the United States, Canada , and Mexico), Europe (the United Kingdom , Germany , France, Spain , Italy, and the rest of Europe), Asia-Pacific (China , Japan , India, Singapore, and the rest of the Asia-Pacific), and the rest of the world (the Middle East , Africa and South America).
Owing to the presence of numerous primary vendors, such as CA Technologies Inc., Microsoft Corporation, Entrust Datacard Corporation, SecureAuth Corporation, and TeleSign Corporation North America reported the largest market share in2018. With the help of the mobile user authentication software, these companies offer the solutions and services for various industries to secure the data. In addition, the the acceptance of BYOD and the the threat of high-profile cyber-attacks by different business enterprises are the major driving factors for the industry.
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