Industry Background:
Authentication software is a software for authentication of users and, therefore, stores identification data (data allowing identifying a person such as a username and a password and the like). The growing pressure of data security compliances is the key driver fueling the growth of the market.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | IBM (United States), JumpCloud, Inc. (United States), Gemalto (Netherlands), CA Technologies (United States), Entrust Datacard (United States), Avatier (United States), RSA Security LLC (United States), HID Global (United States), TrustBuilder Corp. (Belgium), ForgeRock (United States), Soffid (Spain), Specops Software (Sweden), RCDevs (Luxembourg) and Veridium (United States) |
This growth is primarily driven by Increase in Data Breaches and Cyber Attacks and Growing Adoption of Boyd among Enterprises.
Globally, a noticeable market trend is evident Stringent Regulations and the Growing Pressure of Data Security Compliances Major Players, such as IBM (United States), JumpCloud, Inc. (United States), Gemalto (Netherlands), CA Technologies (United States), Entrust Datacard (United States), Avatier (United States), RSA Security LLC (United States), HID Global (United States), TrustBuilder Corp. (Belgium), ForgeRock (United States), Soffid (Spain), Specops Software (Sweden), RCDevs (Luxembourg) and Veridium (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 24 Feb 2020, HID Global, a worldwide leader in trusted identity solutions, announced it will support the industry’s passworldless authentication initiative at RSA 2020 by demonstrating converged access solutions that extend zero trust security and FIDO2 authentication across the workplace in the physical and digital worlds. The company’s solutions, including smart cards, an expanded USB key family and an updated cloud-based credential management service, are among the first to help realize the industry’s vision for a passwordless future at the door and in hybrid IT environments spanning on-premise and cloud applications. and On 10 Dec 2019, RSA (RSAsecurity), a global cybersecurity leader delivering Business-Driven Security solutions to help organizations manage digital risk, will extend its enterprise offering of modern authentication and identity assurance through a strategic partnership and joint solution with Yubico.
On 1 April 2019, HID Global, a worldwide leader in trusted identity solutions, announced the availability of the new HID Authentication Service, which is part of its cloud identity platform, designed to deliver a suite of trusted identity solutions. These services make it easy to manage and use identities through a secure cloud delivery model. This multi-tenant cloud authentication service offers large scale, simplified on boarding of users and frictionless authentication for identity and access management (IAM) customers spanning a variety of industries. and On 20 June 2018, Veridium, a leader in strong authentication solutions using biometrics instead of passwords and tokens, announced it has won a USD 150,000 grant from Digital Financial Services Lab (DFS), supported by the Bill and Melinda Gates Foundation, to bring universal and affordable financial services to emerging countries across the globe.
Influencing Trend:
Stringent Regulations and the Growing Pressure of Data Security Compliances
Market Growth Drivers:
Increase in Data Breaches and Cyber Attacks and Growing Adoption of Boyd among Enterprises
Challenges:
Uncertainty and Pushback from End Users
Restraints:
Cost and Technical Complexity in Implementing the Multifactor Authentication and Increasing Response Time in Higher Order Authentication Models
Opportunities:
Demand for MFA for Data Security in the Cloud Environment, Rising Adoption of the Interconnected Devices in the IoT Environment and Emerging Markets
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Authentication Software Market
- Analysis about New Entrants in Authentication Software Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Authentication Software Study Sheds Light on
The Authentication Software Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Authentication Software industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Authentication Software industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.