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Passive Authentication Market - Global Forecast to 2023DUBLIN, June 14, 2018 /PRNewswire/ -- The "Passive Authentication Market by Component (Solution and Services), Business Function (Compliance Management, Risk Management, Marketing Management), Deployment Type, Organization Size, Industry Vertical, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.  The global passive authentication market is expected to grow from USD 492.8 Million in 2018 to USD 1,535.0 Million by 2023, at a Compound Annual Growth Rate (CAGR) of 25.5% during the forecast period. The growing demand among enterprises to deliver an enhanced user experience and the increasing need for the frictionless authentication among organizations are expected to drive the market across all regions. The passive authentication market has been segmented by component (solution and services), business function, deployment type, organization size, industry vertical, and region. The services segment is observing great opportunities among the industry verticals, as passive authentication services help companies provide personalized services and seamless customer experience to their customers. Among the services segment, the managed services segment is expected to grow at a higher CAGR during the forecast period. The cloud segment is expected to grow at a higher CAGR during the forecast period, due to the various benefits offered by cloud-based passive authentication solutions, such as cost-efficiency, scalability, high computing speed, and reduced expenditure on Information Technology (IT) infrastructure. Passive authentication solutions are deployed across various industry verticals, such as Banking, Financial Services, and Insurance (BFSI), government, telecom and IT, retail and consumer goods, healthcare, media and entertainment, and others (education, travel and hospitality, and automotive). The retail and consumer goods industry vertical is expected to witness the highest CAGR during the forecast period. Passive authentication solutions enable retailers to securely authenticate their customers for protecting their financials by leveraging unique human behavioral factors while improving customer experiences. However, the BFSI industry vertical is estimated to have the largest market size in 2018, as the growing transactional volumes and the increasing need to manage digital assets are expected to be the major factors in driving the market size of the FSI industry vertical. The global passive authentication market has been segmented on the basis of regions into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America to provide a region-specific analysis in the report. North America is expected to be the largest revenue-generating region for passive authentication solutions and services providers in 2018. The region is an early adopter of biometrics, behavioral analytics, and mobile technology, thereby witnessing a significant growth of the market. APAC is expected to be the fastest-growing region in the passive authentication market. The growth in this region is primarily driven by the growing number of smartphone users, and the presence of the large number of Small and Medium-sized Enterprises (SMEs) in the emerging countries, such as Australia and New Zealand, China, and Japan. The passive authentication market faces challenges, such as security concerns related to data confidentiality and slow growth in the developing and underdeveloped economies. These challenges are expected to hinder the growth of this market. Key Topics Covered: 1 Introduction
For more information about this report visit https://www.researchandmarkets.com/research/sdtbrt/passive?w=5 Media Contact: Research and Markets
SOURCE Research and Markets 
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