(MENAFN- America News Hour) In a recent published report, Kenneth Research has updated the market report for Mobile User Authentication Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021.
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However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Mobile User Authentication Market products.
Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.
The Global Mobile User Authentication Market is estimated to reach USD 3.45 Billion by 2024, registering a CAGR of 25.9% during the forecast period of 2019–2024
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.Mobile user authentication is defined as a process for identifying a user with the help of a mobile phone or any other authentication methods for more secure access to data. This process also authenticates, validates, and verifies with factors such as geographical positioning, co-ordinates, biometrics, and timestamps. One of the major factors driving the mobile user authentication market is increasing data generation due to the growing market for digitalization and virtualization. Additionally, due to digitalization, there has been an improvement in the operational functionality of enterprises as data can be shared easily from one point to another without any difficulty.
The Final Report will cover the impact analysis of COVID-19 on this industry:
However, security concerns associated with it, such as cyberattacks, and data breaches are subject to affect the enterprises. Therefore, to make data more secure, which includes confidential data, contracts information, and research & development information, the companies and enterprises are shifting towards mobile user authentication. Additionally, other factors such as the rising trends of online data sharing and BYOD, and the increasing traction among enterprises are propelling the demand for mobile user authentication to secure data from fraudulent activities, and other vulnerabilities. Increasing cloud adoption globally is also contributing to data sharing, making it easy for companies, organizations, industries, and individuals.
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The global mobile user authentication market is segmented based on component, organization size, end-user and regionBased on component, global mobile user authentication market has been segmented into solutions and services. The solution segment has been further segmented as one-time passwords, biometric authentication, QR code validation and others.The global mobile user authentication market, by organization size, has been segmented into large enterprises and SMEs.By end user, the global mobile user authentication market has been segmented into BFSI, retail, healthcare, IT & telecommunication, government, media and entertainment, and others.
By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Global Mobile User Authentication, 2018–2024 (USD Billion)
The global mobile user authentication market is estimated to grow at a significant rate during the forecast period from 2018 to 2024. The geographical analysis of the global mobile user authentication has been conducted for North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Spain, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, Singapore, and the rest of Asia-Pacific), and the rest of the world (the Middle East and Africa and South America).
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North America accounted for the largest market share in 2018 due to the presence of various key vendors such as Microsoft Corporation, CA Technologies Inc., Entrust Datacard Corporation, SecureAuth Corporation, and TeleSign Corporation. These companies are offering the solutions and services for various industries for securing the data with the help of the mobile user authentication software. Moreover, the increasing adoption of BYOD and the rising threat of high-profile cyber-attacks among various business enterprises are the major factors driving the market.
Europe holds the second-largest position in terms of market share in the global mobile user authentication market due to the key players such as Swivel Secure Ltd and Gemalto NV providing solutions to organizations and individuals. Additionally, the rising usage of mobile devices across industry verticals such as BFSI, media and entertainment, and the government sector. However, the market in Asia-Pacific is expected to be the fastest-growing during the forecast period due to increasing population and increasing awareness among the users in the region which is contributing to the growth of the market in the region.
MRFR recognizes the key players in the global mobile user authentication market as Swivel Secure Ltd (UK), Microsoft Corporation (US), CA Technologies Inc. (US), EMC Corporation (US), Gemalto NV (Netherlands), Symantec Corporation (US), Vasco Data Security International Inc. (US), Authentify Inc. (US), Entrust Datacard Corporation (US), SecureAuth Corporation (US), SecurEnvoy PLC (UK), and TeleSign Corporation(US), among others.
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The prominent players keep innovating and investing in research and development to present a cost-effective product portfolio. There has been recent mergers and acquisitions among the key players, a strategy the business entities leverage to strengthen their reach to the customers.
Investors and consultants
Technology solution providers
IT Solution Providers
Cloud Service Providers
Instant Messaging Vendors
Security Solution Providers
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