The global mobile devices user authentication services market was valued at $0.52 billion in 2014 and is projected to reach $1.74 billion by end of 2020, at a compound annual growth rate of 22.30% over the six year forecasted period. Digitalization and virtualization in the SMBs has led authentication has become more pervasive and important in the current technology space; there has been rise in its implementation. Mobile user authentication not only provides secured access to the sensitive content but also are instrumental in framing and enforcing different security control policies, procedures, process controls, technologies and access control in the organizations.
In the current scenario, mobile user authentication have become vital in providing a unified view about enterprise wide-security and it introduces greater visibility and transparency in business processes of an organization. It does not only provides secured access to the sensitive content but it is also instrumental in framing and enforcing different security and access control policies in any organization.
Growing adoption of Bring Your Own Device (BYOD) solutions, increasing online fraud market, high adoption of cloud-based services and increasing volume of online data exchanges are some of the key factors propelled the growth of the market. However, with the shift in trend towards mobile devices user authentication services there are certain factors such as awareness about the solutions, lack of security (associated to mobile technologies) and high cost involved with matured authentication methods serving as a key impediments to the growth of the market.
The market for global mobile devices user authentication services market has been broadly segmented by authentication types, end users and industry verticals. As per authentication types the market has been segmented into two-factor authentication, biometrics, passwords, soft tokens and others. Whereas, on the basis of end users the market has been segmented into small enterprises, medium enterprises and large enterprises. On the basis of industry verticals the market has been bifurcated into BFSI, consumer electronic, government, telecommunication, healthcare, manufacturing and others.
The market has also been geographically segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. North America held the largest market share of 30.25% in 2014, followed by Europe, mainly attributed to growing E-retailing, high rate of internet penetration and concentration of business enterprises across the region.
Asia-Pacific is projected to witness highest growth rate over the next six years forecasted period, due to several factors such as presence of some of the fastest growing economies, growing proliferation of smart phones and increasing number of small and medium scale enterprises.
Some of the major companies mentioned in the report are Microsoft, EMC, CA Technologies Inc., Symantec, Trustwave and SecurEnvoy.