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Passive Authentication Market: Overview Of Key Market Forces Propelling And Restraining Market Growth
[November 19, 2018]

Passive Authentication Market: Overview Of Key Market Forces Propelling And Restraining Market Growth

Passive authentication is a process or method which verifies the customer’s or user’s identity with the help of behavioral patterns. These behavioral authentication patterns primarily include biometric, contextual, and correlative authentication as well as device identification. Passive authentication also comprises multi-factor authentication in order to provide enhanced security and control and to help organizations eliminate the need for password-based security models. The passive authentication method is often used to verify and validate users of e-documents and prevent forgery of digital data. Several companies are providing passive authentication platforms, systems, and solutions to help users keep their data safe and protect them from any data leaks or breach.

Passive authentication is sometimes also called silent authentication. It provides convenient and robust risk-based authentication for online transactions, especially in the banking, financial services & insurance (BFSI) industry. In the passive authentication method, smart and advanced techniques are used to analyze behavioral patterns in order to verify and validate users. These techniques offer adaptive authentication to precisely analyze the data or authenticity of a transaction in real time.

Companies across industries such as e-commerce, BFSI, retail, and information technology (IT) & telecom are implementing passive authentication methods in order to enhance the customer’s or user’s experience. Similarly, with rapid technological advancements, companies are delivering innovative solutions with integrated multiple methods such as voice and facial biometrics for authentication and fraud prevention.

Request For Report Brochure The growing prevalence of cybercrimes and rising demand for data security across the world are anticipated to drive the passive authentication market during the forecast period. Similarly, growing number of cybercrimes such as identity theft, data breach, and hacking is expected to boost the demand for passive authentication platforms and solutions in the near future. In addition, gradually increasing demand for quick and secure online transactions is anticipated to promote growth of the passive authentication market in the near future. Moreover, companies across the world are focusing on offering reliable, secure, and efficient services to their customers by adopting passive authentication.

This would also enable companies to achieve enhanced customer experience as well as help customers protect their data. However, technical issues associated with input devices such as speaker and scanner used in passive authentication may hamper the authentication process. Furthermore, compatibility of devices and third-party identity providers with the passive authentication method is a major factor limiting the adoption of passive authentication. Increasing demand for fraud prevention and data security is anticipated to offer lucrative opportunities for growth of the market for passive authentication during the forecast period.

The global passive authentication market can be segmented based on component, application, enterprise size, end-user industry, and geography. Based on component, the passive authentication market has been segmented into platforms/solutions and services. Among these, the services segment has been sub-segmented into professional services and managed services. In terms of application, the passive authentication market has been categorized into risk management, compliance management, application security, marketing management, and others (such as quality assurance). Based on enterprise size, the passive authentication market has been classified into small & medium enterprises (SMEs) and large enterprises.

Get Report TOC, Figures and Tables Based on end-user industry, the passive authentication market has been segmented into BFSI, health care, gaming, media & entertainment, IT & telecommunication, e-commerce & retail, and others (such as travel & logistics and hospitality). In terms of geography, the global passive authentication market has been divided into North America, South America, Europe, Asia Pacific, and Middle East & Africa. Among these, North America and Europe are anticipated to hold a significant market share during the forecast period, due to high adoption of and awareness about passive authentication solutions. Developing economies in Asia Pacific and MEA such as China, India, Saudi Arabia, and Indonesia and other countries such as South Korea and Japan are anticipated to offer prominent growth opportunities to the passive authentication market during the forecast period.

Some of the major players operating in the global passive authentication market are AimBrain Solutions Ltd., CensorNet Ltd., Cisco Systems, Inc., Equifax, Gemalto NV, IBM Corporation, Jumio, NEC Corporation, NetIQ Corporation, Nuance Communications, OneSpan, Ping Identity, Pivotal Group, Precognitive, Inc., SESTEK, ThreatMetrix, UnifyID, Vasco Data Security International, Veridium, and Verint.

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