What is Phone based Authentication Market?
Phone-based authentication can be defined as a security service that authenticates or verifies the end-user or device. Multiple factors, such as biometrics, global positioning information, and passcodes, can be used to authenticate a phone. The concept of phone-based authentication is based on the end-authentication user's using something he or she knows and/or has. Because cellphones are becoming an increasingly important component of society in today's increasingly connected world, phone-based authentication can be considered a feasible means of authentication. Organizations are focusing on managing, maintaining, and monitoring data as the number of smart connected devices continues to grow dramatically. As a result, the demand for network communication solutions will increase. Organizations are also working on improving their processes as the adoption of the internet of things (IoT) continues to grow dramatically, with increased deployment in the retail sector, educational institutions, and BFSI. This, together with the increasing use of smartphones to access corporate data, is predicted to increase the demand for real-time information security services and products, such as phone-based authentication solutions.
The market study is being classified by Type (Password authentication and Passwordless authentication) and major geographies with country level break-up.
Prove (United States), Micro Focus (United Kingdom), Broadcom (United States), Microsoft (United States), OneSpan(United States), Okta (United States), Thales (France), RSA Security (United States), HID Global (United States) and CyberArk (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are SecureAuth(United States), Secret Double Octopus (Israel) and Silverfort (Israel).
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Phone based Authentication market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Phone based Authentication market by Type, Application and Region.
On the basis of geography, the market of Phone based Authentication has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Singapore, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Spain, Rest of Europe), MEA (Saudi Arabia, Turkey, Israel, United Arab Emirates, South Africa, Rest of Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Number of Cyber Attacks and Data Breaches
- Escalating instances of identity theft and fraud
Market Trend
- Rising Adoption of Interconnected Devices
Restraints
- Lack of Knowledge About Risk-based Authentication
Opportunities
- Increasing Stringency Regarding Adherence to Compliance Mandates
- Expanding Digital Reform in Emerging Economies
April 2020 – Prove announces UK launch of Mobile Authentication, reducing reliance on SMS one-time passcodes to mobile devices and September 2020 – OneSpan and ForgeRock Partnership Helps Secure Remote Banking with a Single Platform for Identity, Authentication and Risk Analytics
Key Target Audience
Software Providers, Technology Providers, IT Companies, Phone Companies and Others