The global risk-based authentication market size reached US$ 4.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.7 Billion by 2028, exhibiting a growth rate (CAGR) of 16.2% during 2023-2028.

Risk-based authentication (RBA) evaluates the IP address, browser, status of antivirus software, and physical location of a consumer to determine the risk associated with the request for accessing the system. It relies on real-time intelligence to assist organizations in maintaining internal and external compliance, such as the health insurance portability and accountability act (HIPPA), federal financial institutions examination council (FFIEC), and security operations center (SOC). Besides this, it also helps in tracking user activity and identifying suspicious behavior to ensure high security within the network.

Risk-based Authentication Market Trends:
At present, there is an increase in the utilization of online banking on account of real-time payment solutions and the convenience offered. This, coupled with surging cyber-attacks and data breaches to view, copy and steal confidential data of individuals, groups, private companies, and government organizations, represents one of the major factors propelling the market growth. In addition, the growing adoption of remote working culture due to the coronavirus disease (COVID-19) outbreak and consequent imposition of complete lockdown in numerous countries is driving the sales of RBA. Moreover, there is an increase in the trend of bring your own device (BYOD), which can be accredited to the rising sales of smartphones, tablets, and laptops. This, in turn, is offering lucrative growth opportunities to investors, end users and industry players. Apart from this, the application of RBA is expanding in the healthcare, government, and retail sectors for logging, monitoring systems and offering endpoint protection. Furthermore, key market players are focusing on product innovation and strategic partnerships with technology vendors to provide advanced RBA solutions and services to mitigate potential threats, which is projected to bolster the market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global risk-based authentication market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, deployment, application and end user vertical.

Breakup by Component:

Solution
Service

Breakup by Deployment:

On-premises
Cloud-based

Breakup by Application:

Fraud Prevention
Cloud Application Security
IoT Security
Others

Breakup by End User Vertical:

Banking and Financial Services
Retail
IT and Telecommunication
Government
Healthcare
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Broadcom Inc., Centrify, Equifax Inc., ForgeRock, Gurucul, HID Global (Assa Abloy AB), International Business Machines Corporation, Micro Focus International plc, Okta Inc., Oracle Corporation, Secureauth Corporation and TransUnion.

Key Questions Answered in This Report
1. What was the size of the global risk-based authentication market in 2022?
2. What is the expected growth rate of the global risk-based authentication market during 2023-2028?
3. What has been the impact of COVID-19 on the global risk-based authentication market?
4. What are the key factors driving the global risk-based authentication market?
5. What is the breakup of the global risk-based authentication market based on the component?
6. What is the breakup of the global risk-based authentication market based on the deployment?
7. What is the breakup of the global risk-based authentication market based on the application?
8. What is the breakup of the global risk-based authentication market based on the end user vertical?
9. What are the key regions in the global risk-based authentication market?
10. Who are the key players/companies in the global risk-based authentication market?