“Rising number of digital identities and stringent data security regulations are expected to drive the Authentication services market”
The scope of this research study covers the managed authentication services only. The authentication services market size is expected to grow from USD 622.9 million in 2017 to USD 1,619.5 million by 2022, at a Compound Annual Growth Rate (CAGR) of 21.1% during the forecast period. The major drivers of the authentication services market are an increasing number of digital identities and stringent data security compliances, such as PCI DSS, and HIPAA. The major restraining factor is the increasing number of data breaches in virtual server.
“eCommerce vertical is expected to grow at the highest rate during the forecast period”
The eCommerce vertical is expected to grow at the highest CAGR during the forecast period. The vertical deals with selling consumer products and services to its clients through multiple channels. eCommerce is one of the top cost-conscious verticals and the most targeted vertical by cyber criminals because of the potential payouts and a huge number of monetary transactions via credit and debit cards. In addition, the increasing complexities of supply chain, employees, channel partners, and customers are expected to force etailers to adopt authentication services.
“Asia Pacific (APAC) is expected to grow at the fastest rate during the forecast period”
As per the geographic analysis, the APAC region is expected to witness the fastest growth in the authentication services market, due to an increasing number of digital identities, online transactions, and mobile computing devices. Additinally, India, Japan, and Singapore have all updated or introduced new national cybersecurity policies that would drive the authentication services market.
The break-up profiles of the primary discussion participants are given below:
- By Company Type: Tier 1 (38%), Tier 2 (32%), and Tier 3 (30%)
- By Designation: C-Level (68%), Director Level (24%), and Manager Level (8%)
- By Region: North America (34%), Europe (22%), APAC (26%), and RoW (18%)
Key vendors in the authentication services market profiled in the report are as follows:
1. Verizon (US)
2. Trustwave (US)
3. Gemalto (the Netherlands)
4. Wipro (India)
5. Tata Ccommunications (India)
6. Bell Canada (Canada)
7. GCI Channel Solutions (UK)
8. Entrust Datacard (US)
9. GCX (India)
10. Interoute (UK)
The global authentication services market has been segmented on the basis of services, managed authentication type, managed tokenization type, verticals, and regions. A detailed analysis of the regions has been done to provide insights into opportunities across different regions. In addition, the strength of service portfolio and business strategy excellence are some of the other MarketsandMarkets analysis included in the report.
Reasons To Buy the Report
The report will help the market leaders/new entrants in the authentication services market in the following ways:
- The report segments the authentication services market comprehensively and provides the closest approximations of the revenue numbers for the overall market and subsegments across different regions.
- The report helps the stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
- The report helps stakeholders understand competitors and gain more insights to better their position in the market.