38% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for phone-based authentication solutions in North America. Market growth in this region will be faster than the growth of the market in the South American, APAC, and MEA regions. The advent of modern technologies and innovations in cloud and IoT, along with the growing popularity of digital transformation, have raised the importance of authentication.
The potential growth difference for the phone-based authentication solutions market between 2020 and 2025 is USD 4.98 billion. To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.
Key Market Dynamics:
- Phone-based Authentication Solutions Market - Driver
The key factor driving growth in the phone-based authentication solutions market is the increasing number of smart connected devices. The number of smart connected devices across the world is expected to increase during the forecast period. Hence, several organizations are focusing on maintaining, managing, and monitoring data, which will increase the demand for network communications. Education, retail, and BFSI organizations are improving their processes by adopting the Internet of Things (IoT) for analysis.
- Phone-based Authentication Solutions Market - Challenges
The issues associated with system integration and interoperability will be a major challenge for the phone-based authentication solutions market during the forecast period. The increasing adoption of advanced technologies in many industries such as BFSI and telecommunication causes system integration and interoperability issues. Many organizations face integration issues when implementing phone-based authentication solutions. Technical issues during operations can incur costs to the organization and reduce operational efficiency. Technical defects, server errors, and other malfunctions caused by hacking are the key issues associated with phone-based authentication solutions.
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The phone-based authentication solutions market report is segmented by End-user (BFSI, PCI, government, and others) and Geography (North America, Europe, APAC, South America, and MEA). The market research report entails detailed information on the competitive intelligence, marketing gaps, segmentation, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
View our Free sample report for additional insights into the contribution of all the segments, and regional opportunities in the report.
Some Companies Mentioned
The phone-based authentication solutions market is fragmented and the vendors are deploying growth strategies such as focusing on distinguishing their product offerings to compete in the market.
- Broadcom Inc.
- Early Warning Services LLC
- Entrust Datacard Corp.
- Fujitsu Ltd.
- HID Global Corp.
- IDEMIA
- OneSpan Inc.
- SecureAuth Corp.
- Shearwater Group Plc
- Thales Group
- To gain access to more vendor profiles with their key offerings available with Technavio, Click Here
Related Reports:
Multi-factor Authentication Market -The multi-factor authentication market has the potential to grow by USD 15.14 billion during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 19.51%. Download a free sample now!
Privileged Identity Management Market -The privileged identity management (PIM) market share is expected to increase by USD 2.41 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 22.80%. Download a free sample now!
Phone-based Authentication Solutions Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 20.59% |
Market growth 2021-2025 |
USD 4.98 billion |
Market structure |
Fragmented |
YoY growth (%) |
12.21 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
North America at 38% |
Key consumer countries |
US, Canada, China, UK, and India |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Broadcom Inc., Early Warning Services LLC, Entrust Datacard Corp., Fujitsu Ltd., HID Global Corp., IDEMIA, OneSpan Inc., SecureAuth Corp., Shearwater Group Plc, and Thales Group |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation by End-user
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
- Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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