Passive Authentication Market - Forecast(2024 - 2030)
Passive Authentication Market Overview
Passive
Authentication Market size is estimated to reach 3.03 billion by 2026 and is
projected to grow at a CAGR of 25.5% during the forecast period 2021-2026. Increasing
penetration of IoTs and related digital age technologies such as Artificial
intelligence, Big Data, Machine Learning is estimated to fuel the market. With
the increasing transition towards digitalization in BFSI, the retail sector the
growing demand for protecting digital data from cyber breaches to optimize
compliance management and risk management is set to drive the market. The
increasing adoption of online transactions has significantly triggered the
demand for real-time passive authentication platforms. Adoption of passive authentication
eliminating the need for password-based security models enables the
organizations to verify and validate users analyzing precisely the behavioral
authentication pattern to prevent forgery and such seamless, frictionless
authentication techniques are analyzed to boost the market during 2021-2026. In
October 2020, big banks such as Barclays, Citi, HSBC, National Australia Bank
invested $20 Million in BioCatch to expand its behavioral biometric business
and thus accelerating the market growth.
Report Coverage
The report: “Passive Authentication Market – Forecast (2021-2026)”,
by IndustryARC covers an in-depth analysis of the following segments of the
Passive Authentication market
Key Takeaways
- Cloud the segment is analyzed to be the fastest-growing market during 2021-2026 due
to reduced operational costs and hassle-free systems to fulfill digital
business strategies.
- BFSI the sector is estimated to hold the largest market share during the forecast
period 2021-2026 due to the rapid penetration of digitalization in this
sector.
- North America
is estimated to dominate the market during 2021-2026 owing to high investments towards advanced security platforms.
- Increasing
penetration of digital banking and rising demand for preventing forgery
are estimated to drive the market between 2021 and 2026.
- Biometric data security issues are one of the challenges impeding the growth of the market.
Global Passive Authentication Market Share, By Region, 2020 (%)
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Passive Authentication Market Segment Analysis – By Deployment
By deployment, Passive Authentication Market has been segmented under cloud and on-premise. Cloud Segment and is estimated to be the fastest-growing market during the forecast period 2021-2026 owing to reduced operational cost and higher scalability. The increasing adoption of cloud infrastructure in various business organizations has significantly triggered the growth of the market. Cloud-based deployment removes the hassle of maintaining and updating systems to fulfill business strategies. In cloud deployment, data synchronization can be done seamlessly from multiple sources as it provides the ability to communicate and share data more easily than on-premise. Moreover, advanced benefits of cloud deployment such as ease of deployment, and pay per usage model are analyzed to drive the market. In February 2021, Ping Identity launched biometric face-based onboarding solutions to secure account creation for remote users. Such developments are anticipated to boost the market during the forecast period 2021-2026.
Passive Authentication Market Segment Analysis – By End User
By end-user, Passive Authentication Market has been segmented under industrial, commercial, and residential sectors. The industrial sector is anticipated to account for the largest market share of 48% by 2026 due to the rising demand for verifying users to protect against sophisticated cyber-attacks. Among industrial sectors, BFSI sector is estimated to hold the major market share of 18% by 2026 owing to increasing demand for validating and verifying users to facilitate digital banking solutions. The increasing number of data breaches and sophisticated cyber-attacks have contributed to the growth of the market. Increasing penetration of remote workforce and BYOD trend are anticipated to boost the market. Retail and e-commerce is analyzed to be the fastest-growing market owing to a growing demand for authenticating users to protect their financial information by leveraging biometric solutions to enhance the consumer experience. In January 2021, South Korean bank Daegu bank announced to open checking and saving accounts through a fully digital process by leveraging Facephi’s facial recognition software. Such developments are anticipated to propel market growth during 2021-2026.
Passive
Authentication Market Segment Analysis – By Geography
By geography, Passive Authentication Market has been segmented under North America, Europe, APAC, South America and RoW. North America dominated the market acquiring a share of 36% in 2020 and is estimated to hold the major market share with a CAGR 14.67% during 2021-2026 owing to high investment towards advanced security techniques and early adoption of biometrics and behavioral analysis. In December 2020, Mexico passed a new law to enable creating a database with the personal data including biometrics for the entire population of the country. APAC is estimated to be the fastest growing market during the forecast period 2021-2026 with a CAGR 16.3% owing to the shift towards digitalization and growing demand for the prevention of digital forgery and cyber-crime. For instance, from December 2020 onwards, Singapore citizens can use facial recognition authentication to access online Government services. In December 2020, Malaysia based eKYC firm Wise AI announced to raise a fund of an undisclosed amount to expand the digital identity solution based on face recognition technology in South-East Asia. Such developments and investments are analyzed to drive the market during 2021-2026 in this region.
Passive Authentication Market Drivers
Growing demand for quick and secure digital transaction
The increasing convergence of BFSI sector with digitalization
to deliver reliable, secure, and seamless services to achieve enhanced customer
experience is estimated to drive the market during the forecast period 2021-2026.
The banking sector holds a large volume of sensitive and confidential financial
data that must be protected to avoid data breaches and cyber-attacks.
Combining Behavioral Biometrics with Machine Learning and Risk Assessment, the
passive authentication platforms enable connected customers to experience a
robust and convenient digital banking operation. Rising demand for correlative
authentication has contributed to the growth of the market. Increasing security
concerns among the banks and the consumers regarding information leakage or
false data injection have significantly triggered the growth of the market. In
October, 2020 Elco Federal Credit Union announced to deploy Enacommpassive biometric
voice recognition technology for personalized and intelligent customer
interaction to verify and validate their users. Such developments are set to
drive the market during 2021-2026.
Increasing adoption of Biometric System for forgery prevention
Increasing
penetration of biometric authentication using biological characteristics to
verify and validate users’ identity to prevent cyber-crimes such as identity
theft, data breaches are set to drive the market during the forecast period2021-2026.
Growing demand for behavioral biometric pattern analysis in online baking, the e-commerce sector has contributed to the growth of passive authentication
market.With the advancements in biometric authentication such as the development of
gait recognition, mouse biometrics, keystroke dynamics the demand for passive
authentication is analyzed to gain huge traction during 2021-2026. In
February 2020, Mastercard announced to work with transport organizations to
develop a gait authentication system for developing digital transit fares as an
alternative to physical transit fares.
Passive Authentication Market Challenges
Biometric data security concerns
Passive Authentication Market Landscape
Technology
launches, acquisitions, Partnerships, and R&D activities are key strategies
adopted by players in the Passive Authentication market.
In 2020, the market of Passive Authentication industry outlook has been
fragmented by several companies. Passive Authentication top 10 companies
include Cisco Systems Inc., BioCatch Ltd., NEC
Corporation, IBM Corporation, Aware Inc., Equifax Inc., Truststamp Inc., Jumio,
RSA Security LLC, Typing DNA among others.
Acquisitions/Technology Launches
- In December 2020, NEC completed the acquisition of Avaloq to expand digital business solutions and wealth management platforms.
- In February 2020, BioCatch announced the completion of acquisition Aimbrain’s multi modal biometric authentication platform.
- In September 2019, NEC Corporation announced to start working with Japanese banks for deployment of biometric authentication at ATMs.
Relevant Report Titles:
LIST OF TABLES
1.Global Passive Authentication Market By Component Market 2023-2030 ($M)1.1 Solution Market 2023-2030 ($M) - Global Industry Research
1.2 Services Market 2023-2030 ($M) - Global Industry Research
1.2.1 Professional Services Market 2023-2030 ($M)
1.2.2 Managed Services Market 2023-2030 ($M)
2.Global Market By Business Function Market 2023-2030 ($M)
2.1 Compliance Management Market 2023-2030 ($M) - Global Industry Research
2.2 Marketing Management Market 2023-2030 ($M) - Global Industry Research
2.3 Risk Management Market 2023-2030 ($M) - Global Industry Research
3.Global Passive Authentication Market By Deployment Type Market 2023-2030 ($M)
3.1 On-Premises Market 2023-2030 ($M) - Global Industry Research
3.2 Cloud Market 2023-2030 ($M) - Global Industry Research
4.Global Market By Organization Size Market 2023-2030 ($M)
4.1 Small & Medium-Sized Enterprises Market 2023-2030 ($M) - Global Industry Research
4.2 Large Enterprises Market 2023-2030 ($M) - Global Industry Research
5.Global Passive Authentication Market By Industry Vertical Market 2023-2030 ($M)
5.1 Government Market 2023-2030 ($M) - Global Industry Research
5.2 Telecom & IT Market 2023-2030 ($M) - Global Industry Research
5.3 Retail & Consumer Goods Market 2023-2030 ($M) - Global Industry Research
5.4 Healthcare Market 2023-2030 ($M) - Global Industry Research
5.5 Media & Entertainment Market 2023-2030 ($M) - Global Industry Research
6.Global Passive Authentication Market By Component Market 2023-2030 (Volume/Units)
6.1 Solution Market 2023-2030 (Volume/Units) - Global Industry Research
6.2 Services Market 2023-2030 (Volume/Units) - Global Industry Research
6.2.1 Professional Services Market 2023-2030 (Volume/Units)
6.2.2 Managed Services Market 2023-2030 (Volume/Units)
7.Global Market By Business Function Market 2023-2030 (Volume/Units)
7.1 Compliance Management Market 2023-2030 (Volume/Units) - Global Industry Research
7.2 Marketing Management Market 2023-2030 (Volume/Units) - Global Industry Research
7.3 Risk Management Market 2023-2030 (Volume/Units) - Global Industry Research
8.Global Passive Authentication Market By Deployment Type Market 2023-2030 (Volume/Units)
8.1 On-Premises Market 2023-2030 (Volume/Units) - Global Industry Research
8.2 Cloud Market 2023-2030 (Volume/Units) - Global Industry Research
9.Global Market By Organization Size Market 2023-2030 (Volume/Units)
9.1 Small & Medium-Sized Enterprises Market 2023-2030 (Volume/Units) - Global Industry Research
9.2 Large Enterprises Market 2023-2030 (Volume/Units) - Global Industry Research
10.Global Passive Authentication Market By Industry Vertical Market 2023-2030 (Volume/Units)
10.1 Government Market 2023-2030 (Volume/Units) - Global Industry Research
10.2 Telecom & IT Market 2023-2030 (Volume/Units) - Global Industry Research
10.3 Retail & Consumer Goods Market 2023-2030 (Volume/Units) - Global Industry Research
10.4 Healthcare Market 2023-2030 (Volume/Units) - Global Industry Research
10.5 Media & Entertainment Market 2023-2030 (Volume/Units) - Global Industry Research
11.North America Passive Authentication Market By Component Market 2023-2030 ($M)
11.1 Solution Market 2023-2030 ($M) - Regional Industry Research
11.2 Services Market 2023-2030 ($M) - Regional Industry Research
11.2.1 Professional Services Market 2023-2030 ($M)
11.2.2 Managed Services Market 2023-2030 ($M)
12.North America Market By Business Function Market 2023-2030 ($M)
12.1 Compliance Management Market 2023-2030 ($M) - Regional Industry Research
12.2 Marketing Management Market 2023-2030 ($M) - Regional Industry Research
12.3 Risk Management Market 2023-2030 ($M) - Regional Industry Research
13.North America Passive Authentication Market By Deployment Type Market 2023-2030 ($M)
13.1 On-Premises Market 2023-2030 ($M) - Regional Industry Research
13.2 Cloud Market 2023-2030 ($M) - Regional Industry Research
14.North America Market By Organization Size Market 2023-2030 ($M)
14.1 Small & Medium-Sized Enterprises Market 2023-2030 ($M) - Regional Industry Research
14.2 Large Enterprises Market 2023-2030 ($M) - Regional Industry Research
15.North America Passive Authentication Market By Industry Vertical Market 2023-2030 ($M)
15.1 Government Market 2023-2030 ($M) - Regional Industry Research
15.2 Telecom & IT Market 2023-2030 ($M) - Regional Industry Research
15.3 Retail & Consumer Goods Market 2023-2030 ($M) - Regional Industry Research
15.4 Healthcare Market 2023-2030 ($M) - Regional Industry Research
15.5 Media & Entertainment Market 2023-2030 ($M) - Regional Industry Research
16.South America Passive Authentication Market By Component Market 2023-2030 ($M)
16.1 Solution Market 2023-2030 ($M) - Regional Industry Research
16.2 Services Market 2023-2030 ($M) - Regional Industry Research
16.2.1 Professional Services Market 2023-2030 ($M)
16.2.2 Managed Services Market 2023-2030 ($M)
17.South America Market By Business Function Market 2023-2030 ($M)
17.1 Compliance Management Market 2023-2030 ($M) - Regional Industry Research
17.2 Marketing Management Market 2023-2030 ($M) - Regional Industry Research
17.3 Risk Management Market 2023-2030 ($M) - Regional Industry Research
18.South America Passive Authentication Market By Deployment Type Market 2023-2030 ($M)
18.1 On-Premises Market 2023-2030 ($M) - Regional Industry Research
18.2 Cloud Market 2023-2030 ($M) - Regional Industry Research
19.South America Market By Organization Size Market 2023-2030 ($M)
19.1 Small & Medium-Sized Enterprises Market 2023-2030 ($M) - Regional Industry Research
19.2 Large Enterprises Market 2023-2030 ($M) - Regional Industry Research
20.South America Passive Authentication Market By Industry Vertical Market 2023-2030 ($M)
20.1 Government Market 2023-2030 ($M) - Regional Industry Research
20.2 Telecom & IT Market 2023-2030 ($M) - Regional Industry Research
20.3 Retail & Consumer Goods Market 2023-2030 ($M) - Regional Industry Research
20.4 Healthcare Market 2023-2030 ($M) - Regional Industry Research
20.5 Media & Entertainment Market 2023-2030 ($M) - Regional Industry Research
21.Europe Passive Authentication Market By Component Market 2023-2030 ($M)
21.1 Solution Market 2023-2030 ($M) - Regional Industry Research
21.2 Services Market 2023-2030 ($M) - Regional Industry Research
21.2.1 Professional Services Market 2023-2030 ($M)
21.2.2 Managed Services Market 2023-2030 ($M)
22.Europe Market By Business Function Market 2023-2030 ($M)
22.1 Compliance Management Market 2023-2030 ($M) - Regional Industry Research
22.2 Marketing Management Market 2023-2030 ($M) - Regional Industry Research
22.3 Risk Management Market 2023-2030 ($M) - Regional Industry Research
23.Europe Passive Authentication Market By Deployment Type Market 2023-2030 ($M)
23.1 On-Premises Market 2023-2030 ($M) - Regional Industry Research
23.2 Cloud Market 2023-2030 ($M) - Regional Industry Research
24.Europe Market By Organization Size Market 2023-2030 ($M)
24.1 Small & Medium-Sized Enterprises Market 2023-2030 ($M) - Regional Industry Research
24.2 Large Enterprises Market 2023-2030 ($M) - Regional Industry Research
25.Europe Passive Authentication Market By Industry Vertical Market 2023-2030 ($M)
25.1 Government Market 2023-2030 ($M) - Regional Industry Research
25.2 Telecom & IT Market 2023-2030 ($M) - Regional Industry Research
25.3 Retail & Consumer Goods Market 2023-2030 ($M) - Regional Industry Research
25.4 Healthcare Market 2023-2030 ($M) - Regional Industry Research
25.5 Media & Entertainment Market 2023-2030 ($M) - Regional Industry Research
26.APAC Passive Authentication Market By Component Market 2023-2030 ($M)
26.1 Solution Market 2023-2030 ($M) - Regional Industry Research
26.2 Services Market 2023-2030 ($M) - Regional Industry Research
26.2.1 Professional Services Market 2023-2030 ($M)
26.2.2 Managed Services Market 2023-2030 ($M)
27.APAC Market By Business Function Market 2023-2030 ($M)
27.1 Compliance Management Market 2023-2030 ($M) - Regional Industry Research
27.2 Marketing Management Market 2023-2030 ($M) - Regional Industry Research
27.3 Risk Management Market 2023-2030 ($M) - Regional Industry Research
28.APAC Passive Authentication Market By Deployment Type Market 2023-2030 ($M)
28.1 On-Premises Market 2023-2030 ($M) - Regional Industry Research
28.2 Cloud Market 2023-2030 ($M) - Regional Industry Research
29.APAC Market By Organization Size Market 2023-2030 ($M)
29.1 Small & Medium-Sized Enterprises Market 2023-2030 ($M) - Regional Industry Research
29.2 Large Enterprises Market 2023-2030 ($M) - Regional Industry Research
30.APAC Passive Authentication Market By Industry Vertical Market 2023-2030 ($M)
30.1 Government Market 2023-2030 ($M) - Regional Industry Research
30.2 Telecom & IT Market 2023-2030 ($M) - Regional Industry Research
30.3 Retail & Consumer Goods Market 2023-2030 ($M) - Regional Industry Research
30.4 Healthcare Market 2023-2030 ($M) - Regional Industry Research
30.5 Media & Entertainment Market 2023-2030 ($M) - Regional Industry Research
31.MENA Passive Authentication Market By Component Market 2023-2030 ($M)
31.1 Solution Market 2023-2030 ($M) - Regional Industry Research
31.2 Services Market 2023-2030 ($M) - Regional Industry Research
31.2.1 Professional Services Market 2023-2030 ($M)
31.2.2 Managed Services Market 2023-2030 ($M)
32.MENA Market By Business Function Market 2023-2030 ($M)
32.1 Compliance Management Market 2023-2030 ($M) - Regional Industry Research
32.2 Marketing Management Market 2023-2030 ($M) - Regional Industry Research
32.3 Risk Management Market 2023-2030 ($M) - Regional Industry Research
33.MENA Passive Authentication Market By Deployment Type Market 2023-2030 ($M)
33.1 On-Premises Market 2023-2030 ($M) - Regional Industry Research
33.2 Cloud Market 2023-2030 ($M) - Regional Industry Research
34.MENA Market By Organization Size Market 2023-2030 ($M)
34.1 Small & Medium-Sized Enterprises Market 2023-2030 ($M) - Regional Industry Research
34.2 Large Enterprises Market 2023-2030 ($M) - Regional Industry Research
35.MENA Passive Authentication Market By Industry Vertical Market 2023-2030 ($M)
35.1 Government Market 2023-2030 ($M) - Regional Industry Research
35.2 Telecom & IT Market 2023-2030 ($M) - Regional Industry Research
35.3 Retail & Consumer Goods Market 2023-2030 ($M) - Regional Industry Research
35.4 Healthcare Market 2023-2030 ($M) - Regional Industry Research
35.5 Media & Entertainment Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Passive Authentication Market Revenue, 2023-2030 ($M)2.Canada Passive Authentication Market Revenue, 2023-2030 ($M)
3.Mexico Passive Authentication Market Revenue, 2023-2030 ($M)
4.Brazil Passive Authentication Market Revenue, 2023-2030 ($M)
5.Argentina Passive Authentication Market Revenue, 2023-2030 ($M)
6.Peru Passive Authentication Market Revenue, 2023-2030 ($M)
7.Colombia Passive Authentication Market Revenue, 2023-2030 ($M)
8.Chile Passive Authentication Market Revenue, 2023-2030 ($M)
9.Rest of South America Passive Authentication Market Revenue, 2023-2030 ($M)
10.UK Passive Authentication Market Revenue, 2023-2030 ($M)
11.Germany Passive Authentication Market Revenue, 2023-2030 ($M)
12.France Passive Authentication Market Revenue, 2023-2030 ($M)
13.Italy Passive Authentication Market Revenue, 2023-2030 ($M)
14.Spain Passive Authentication Market Revenue, 2023-2030 ($M)
15.Rest of Europe Passive Authentication Market Revenue, 2023-2030 ($M)
16.China Passive Authentication Market Revenue, 2023-2030 ($M)
17.India Passive Authentication Market Revenue, 2023-2030 ($M)
18.Japan Passive Authentication Market Revenue, 2023-2030 ($M)
19.South Korea Passive Authentication Market Revenue, 2023-2030 ($M)
20.South Africa Passive Authentication Market Revenue, 2023-2030 ($M)
21.North America Passive Authentication By Application
22.South America Passive Authentication By Application
23.Europe Passive Authentication By Application
24.APAC Passive Authentication By Application
25.MENA Passive Authentication By Application
26.NEC, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.IBM, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Cisco, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Gemalto, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Fico, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Rsa Security, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Experian, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Equifax, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Vasco Data Security International, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Nuance Communications, Sales /Revenue, 2015-2018 ($Mn/$Bn)
36.Biocatch, Sales /Revenue, 2015-2018 ($Mn/$Bn)
37.Behaviosec, Sales /Revenue, 2015-2018 ($Mn/$Bn)
38.Pindrop, Sales /Revenue, 2015-2018 ($Mn/$Bn)
39.Idology, Sales /Revenue, 2015-2018 ($Mn/$Bn)
40.Lexisnexis Risk Solutions, Sales /Revenue, 2015-2018 ($Mn/$Bn)
41.Veridium, Sales /Revenue, 2015-2018 ($Mn/$Bn)
42.Verint, Sales /Revenue, 2015-2018 ($Mn/$Bn)
43.Jumio, Sales /Revenue, 2015-2018 ($Mn/$Bn)
44.Early Warning Services, Sales /Revenue, 2015-2018 ($Mn/$Bn)
45.Aware, Sales /Revenue, 2015-2018 ($Mn/$Bn)
46.Nudata Security, Sales /Revenue, 2015-2018 ($Mn/$Bn)
47.Securedtouch, Sales /Revenue, 2015-2018 ($Mn/$Bn)
48.Typingdna, Sales /Revenue, 2015-2018 ($Mn/$Bn)
49.Facephi, Sales /Revenue, 2015-2018 ($Mn/$Bn)
50.Trust Stamp, Sales /Revenue, 2015-2018 ($Mn/$Bn)