Passive Authentication Market Key Findings, Overview, Segmentation, Application

Posted by Sakshi Mishra on April 21st, 2021

Market Synopsis

Market Research Future (MRFR) explains the global passive authentication market 2020 dynamics in COVID 19. Other controlling forces of the passive authentication market is discussed in the report. As per MRFR study, the passive authentication market is likely to thrive at 22.6% CAGR in the forecast period. The passive authentication market value can touch USD 1351.3 Mn by 2023.

The growing case of forging important documents is creating the need for passive authentication across enterprises. This is expected in prompt the expansion of passive authentication market in the review period. The surge in the demand for seamless authentication process across different sectors is expected to bolster the passive authentication market in the years to come. The increased demand from enterprises for enhanced user experience has resulted in the shifting focus of developers towards effective innovation. The hefty investment made by top notch players in the passive authentication industry is likely to earn long-term benefit. However, the increase in concerns for privacy is encouraging the adoption of biometrics that can restrain the expansion of the passive authentication market growth. The application of Artificial Intelligence (AI) for fraud detection in passive authentication solutions can create considerable opportunities for the market to rise. In addition, the use of Internet of Things (IoT) across different industries is also observed to create lucrative scope for the rise of the passive authentication market.

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Regional analysis

Trends of the global market for passive authentication is studied across APAC, EU, Latin America, MEA, and North America. As per MRFR regional study, the passive authentication market in North America is likely to thrive in the forecast period. The increased demand for technical advancements in authentication solutions across industries, such as Telecom and IT, and BFSI can bolster the expansion of the passive authentication market in the years to come. In addition, the increased adoption of behavioral analytics and robust mobile technology in different sectors can favor North America passive authentication market in the near future. In Europe, the expansion of the regional passive authentication market can be attributed to rise in the demand for advanced authentication solutions in multiple enterprises across Europe. The increase in US-based passive authentication software developers in Europe can favor the regional market to earn high revenue in the years to come.

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Sakshi Mishra

About the Author

Sakshi Mishra
Joined: September 30th, 2020
Articles Posted: 512

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