The authentication services market size is expected to grow from USD 622.9 million in 2017 to USD 1,619.5 million by 2022, at a Compound Annual Growth Rate (CAGR) of 21.1% during the forecast period.
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The scope of this research study covers the managed authentication services only.
The major drivers of the authentication services market are an increasing number of digital identities and stringent data security compliances, such as PCI DSS, and HIPAA. The major restraining factor is the increasing number of data breaches in virtual server.
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- Management Security Service Providers (MSSPs)
- Cloud service providers
- Independent Software Vendors (ISVs)
- Information Technology (IT) companies
- Professional and managed service providers
- System integrators/migration service providers
- Managed authentication service providers
- Compliance management service providers
As per the geographic analysis, the APAC region is expected to witness the fastest growth in the authentication services market, due to an increasing number of digital identities, online transactions, and mobile computing devices. Additinally, India, Japan, and Singapore have all updated or introduced new national cyber security policies that would drive the authentication services market.
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The eCommercevertical is expected to grow at the highest CAGR during the forecast period. The vertical deals with selling consumer products and services to its clients through multiple channels.
eCommerce is one of the top cost-conscious verticals and the most targeted vertical by cyber criminals because of the potential payouts and a huge number of monetary transactions via credit and debit cards. In addition, the increasing complexities of supply chain, employees, channel partners, and customers are expected to force etailers to adopt authentication services.
2 Competitive Scenario
2.1 New Service Launches
2.3 Mergers and Acquisitions/Venture Funding
2.4 Agreements and Partnerships
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The global authentication services market has been segmented on the basis of services, managed authentication type, managed tokenization type, verticals, and regions. A detailed analysis of the regions has been done to provide insights into opportunities across different regions.
In addition, the strength of service portfolio and business strategy excellence are some of the other Markets and Markets analysis included in the report.
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