The
global phone-based authentication solutions market is expected to grow at a significant
CAGR of 23.8% over the forecast period due to the higher market penetration of
smartphones and increasing incidences related to theft. Stringent laws &
regulations by regional governments to mandate the adoption of identification
technologies for citizens, employees and foreign nationals in order to enhance
national security are expected to favor market growth over the forecast period.
The
growing demand for advanced security solutions and rising incidences of
burglary and terrorist attacks are propelling the growth of the market over the
forecast period. Additionally, numerous collaborative efforts are undertaken
various government to improve security in response to the threat of terrorism
over public safety, thereby fostering the market demand for advanced security
solutions in the past few years. Globally, the market is predicted to generate
massive revenue over next five years, providing numerous opportunities for
market players to invest for research and development in the phone-based
authentication solutions market.
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Introduction
of remote service management and varied wireless technologies are anticipated
to boost market growth over the coming years. Increasing adoption of biometric
security services such as fingerprint recognition and face recognition systems
to provide secured financial transactions are anticipated fuel the growth of
phone-based authentication solutions market over the next seven years. Increase
in the number of connected devices across the globe is predicted to stimulate
industry expansion in the upcoming years.
In
addition, increasing adoption of IoT technology in number of educational
institutions, the retail organizations and BFSI (banking, finance and
insurance) sector is expected to favor market growth over the coming years.
Increasing use of smartphones to operate and access critical business
information is driving the need for deployment and incorporation of effective
information security solutions. Phone-based authentication systems offer real
time solution for organizational processes, thus bolstering market growth over
the forecast period.
The
market is divided by region as North America, Europe, Asia-Pacific, Latin
America and Africa. North America has shown major growth in recent years owing
to the rise in the implementation of latest technologies in telecommunication
sector, presence of large number of smart connected devices, increase in the
number of research & development activities in the region and existence of
well-established industrial infrastructure.
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Market Segment:
The key players covered in this study
•
CA Technologies
•
Gemalto
•
Shearwater Group
•
Symantec
•
VASCO Data Security International
Market segment by Regions/Countries,
this report covers
•
United States
•
Europe
•
China
•
Japan
•
Southeast Asia
•
India
•
Central & South America
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