How Is The Global Mobile User Authentication Market Defined?
Mobile user authentication refers to the process of verifying a user's identity on their mobile device before granting them access to an account or system. It is a critical component for any organization that conducts business or manages customer accounts through mobile devices.
Mobile User Authentication Global Market Report 2024 provides data on the global mobile user authentication market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The mobile user authentication market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Market Size And Growth Rate Of The Global Mobile User Authentication Market Projected?
The mobile user authentication market has expanded significantly, increasing from $3.06 billion in 2023 to $3.66 billion in 2024 at a CAGR of 19.6%. Key historic drivers include widespread smartphone adoption, growth in mobile transactions, the rise of remote work, and the popularity of digital wallets. The market is expected to reach $7.51 billion by 2028 at a CAGR of 19.7%, propelled by increasing mobile device usage, digital transformation efforts, rising cybersecurity threats, IoT expansion, and demand for seamless authentication. Major trends involve biometric authentication, behavioral biometrics, zero-trust security adoption, blockchain-based solutions, and AI-driven integration.
What Are The Primary Growth Drivers In The Mobile User Authentication Market?
The rise in cybersecurity threats is expected to fuel the growth of mobile user authentication. Cybersecurity threats, which include risks like unauthorized access, data breaches, and information theft, have increased due to factors like greater connectivity, remote work trends, sophisticated cyberattack methods, and a general lack of awareness. Mobile user authentication is a critical component in protecting against threats such as password theft, phishing, and unauthorized access to mobile applications. For instance, in November 2022, the Australian Cyber Security Centre reported receiving 76,000 cybercrime reports, marking a 13% increase compared to the previous year. Consequently, the rising threat landscape is driving the mobile user authentication market.
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What Is The Segmentation Of The Global Mobile User Authentication Market?
The mobile user authentication market covered in this report is segmented –
1) By Authentication: Biometric Authentication, Multi-Factor Authentication (MFA), Knowledge-Based Authentication (KBA), Other Authentication
2) By Deployment: Cloud-Based Authentication, On-Premises Authentication
3) By Organization Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
4) By End-User Vertical: Banking, Financial Services, and Insurance, Consumer Electronics, Government, Telecommunication, Healthcare, Manufacturing, Other End-user Verticals
What Emerging Trends Are Shaping The Mobile User Authentication Market Landscape?
Companies in the mobile user authentication market are focusing on developing innovative technologies like TruSense to meet the growing demand. TruSense is a digital identity and security service offering solutions for verifying and protecting identities in digital environments. For instance, in February 2023, Route Mobile Limited launched TruSense, designed to secure digital transactions by enabling businesses to authenticate users seamlessly. It uses AI and ML for real-time risk assessment and fraud detection, ensuring secure authentication and reliable identity verification. TruSense can be applied in various fields, including digital identity security, content curation, and technology integration.
Which Region Has The Fastest Expansion In The Mobile User Authentication Market?
Asia-Pacific was the largest region in the mobile user authentication market in 2023. The regions covered in the mobile user authentication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
