Mobile user authentication has become vital in providing a unified view about enterprise-wide security and offering greater visibility and transparency in business processes of an organization. Mobile user authentication market can be defined as a security process in which is end user can be authenticated with the help of multiple factors such as biometrics, geographical positioning co-ordinates and timestamps which mobile device being the primary or essential factor.
Digitalization and virtualization in the SMBs have led authentication to become more pervasive and important in current technology space, which has seen a steep rise in its implementation. Mobile user authentication not only provides secure access to the sensitive content, but it is also instrumental in framing and enforcing different security control policies, procedures, process controls, technologies and access control in the organizations.
Growing adoption of Bring Your Own Device (BYOD) solutions, increasing online fraud market, high adoption of cloud-based services and increasing volume of online data exchanges are some of the key factors propelling the growth of this market. However, with the shift in trend towards mobile devices user authentication services, there are certain factors such as lack of awareness about the solutions, lack of security (associated with mobile technologies) and high cost involved with matured authentication methods acting as key impediments to the growth of the market.
Mobile user authentication services market has been categorized based on the authentication type, enterprise type, end user and geography. On the basis of authentication type, multi-factor authentication is projected to witness highest growth rate in contrast with the other authentication types in the market. By end user, Banking, Financial Services and Insurance (BFSI) vertical contributed a largest market share during the forecast period owing to growing need for secure identification and verification techniques.
By Geography, North America is expected to hold the largest market share, followed by Europe, during the forecast period. Mobile user authentication solutions are gaining traction due to increased awareness regarding growth of online data sharing and BYOD, increased frequency of high skilled cyber-attacks, increased traction for vulnerability assessment and management, and also the increasing need for better regulations and legislative compliances. Emerging countries such as Brazil, Russia, China, India, and South Africa (BRICS) are also expecting a growth in the implementation of mobile user authentication market solutions.