USD 1.5 Billion
Report ID:
SQMIG45A2315 |
Region:
Global |
Published Date: April, 2024
Pages:
189
|Tables:
94
|Figures:
74
Global Mobile User Authentication Market size was valued at USD 1.5 Billion in 2022 and is poised to grow from USD 1.83 Billion in 2023 to USD 27 Billion by 2031, growing at a CAGR of 22.53% in the forecast period (2024-2031).
According to a ManpowerGroup survey, millennials are more likely to enable multifactor authentication following a breach (28 % vs. 32 % of the general population). And, with 75 % of millennials comfortable using biometrics today, compared to 58% of those over 55, this could mean that younger adults don’t value traditional passwords more, but likely access will be configured with multifactor authentication, using biometrics for speed and convenience.
The global mobile user authentication market is witnessing flawless growth due to rapid popularity of market, increasing data storage unit, widespread adoption of smartphones and various electronic devices, such as laptops and advanced internet connected computers a towards the front, the growth of gig economy platforms such as Upwork, Uber, Zomato and paid research applications due to e-commerce sector, is estimated to boost the global mobile user authentication market globally.
Global Market Size
USD 1.5 Billion
Largest Segment
Large Enterprises
Fastest Growth
Small and Medium Enterprises
Growth Rate
22.53% CAGR
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Based on authentication type, the global mobile user authentication market is segmented into two-factor authentication, biometrics or multi-factor authentication, passwords, soft tokens, and other. On the basis of organization size, the market is segmented into small and medium enterprises (SMEs) and large enterprises. Based on industry vertical, the market is segmented into education, government and defense, BFSI, retail, information technology and telecom, manufacturing, healthcare and others. Further, the major countries studied in the market report are US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Analysis by Organization Size
Large enterprises accounted for the largest share (70.4%) as large enterprises needed this platform to provide advanced services to customers without any problems with 5G networks and Internet of Things (IoT) deployments. However, SMEs are the fastest growing segment as enterprises where most recently Mobile user authentication has been implemented due to its cost-effectiveness.
The small and medium enterprises (SMEs) segment play an important role in the global mobile user authentication market. Accepting mobile users involves ensuring that users are people who can access services or information through mobile devices. SMEs are important contributors to the adoption and growth of mobile user trust solutions.
Analysis by Industry Vertical
When smartphones are used for health care segments, sensitive data is certainly accessed, highlighting the need for user authentication to ensure data protection. Mobile use of user authentication helps prevent data breaches. For IT and telecommunications, mobile user authentication acts as a security module and is used to verify the authenticity of an individual. The nature of these services may differ from these techniques which were implemented in the usual method.
Government departments in government and defense segment (including intelligence and security agencies) are among the top adopters of mobile authentication solutions. Banks and financial institutions offer mobile phone adoption certification which plays a big role for more secure projects. This provides financial institutions with a secure and convenient way for customers to communicate and organizations with a secure platform for messaging.
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Europe's region holds the second largest market share in the global mobile user authentication market due to rising smartphone and tablet usage in the region, as well as technologies such as facial recognition and fingerprint recognition by German manufacturers mobile. The global mobile user authentication market had the largest market share, and the UK mobile user trust market is the fastest growing market in the European region.
The North America region in the global mobile user authentication market is expected to grow at the fastest CAGR between 2024 and 2031. This is due to the rise of the Internet and shift towards digitization of internal processes which helps to adopt mobile born based services and cloud based atomic authentication services which will drive the market growth in this segment. Since then, the U.S. the mobile user authentication market has the largest market share, and the Canadian mobile user authentication market is the fastest growing market in the North America region.
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Drivers
Increasing Cloud Adoption is Driving Market Growth
Rise in Adoption of Mobile Devices
Restraints
Lack of Knowledge and Awareness for Deployment of Authentication Technology
Security Concerns and Usability Challenges
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The competitive environment of the Global Mobile User Authentication Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. The global mobile user authentication market is competitive and has several vendors offering various authentication solutions. RSA Security Multi-factor authentication (MFA), biometric authentication, and risk-based authentication.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Mobile user authentication involves identifying and verifying end users through mechanisms such as GPS, biometrics, OTP, time stamp, and more. This type of trust uses mobile devices such as smartphones to verify user credentials. These credentials are necessary in order to confirm the authenticity of an individual and to obtain resources. The growing benefits of virtualization and digitalization also pose business security risks, making them vulnerable to cyberattacks, loss of private data and thus, mobile user authentication gives companies increased liability if they maintain the security of their products to avoid unauthorized use of private and sensitive data.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 1.5 Billion |
Market size value in 2031 | USD 27 Billion |
Growth Rate | 22.53% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Mobile User Authentication Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Mobile User Authentication Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Mobile User Authentication Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Mobile User Authentication Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG45A2315