Global Risk-based Authentication Market By Component, By Technology, By Security Policies, By Deployment, By Application, By End-User, By Region, Competition, Forecast & Opportunities, 2024

"Global Risk-based Authentication Market By Component (Solution & Services), By Technology (Multi-Factor Authentication, etc.), By Security Policies (Device-Based Policies, etc.), By Deployment, By Application, By End-User, By Region, Competition, Forecast & Opportunities, 2024"

The global risk-based authentication market stood at $2.3 billion and is projected to grow at a CAGR of more than 18.8% to reach $6.5 billion by 2024, on account of surging enterprise breaches and increasing adoption of risk-based authentication solutions in various industries such as BFSI and healthcare. Moreover, rising number of connected devices, backed by the growing demand for mobility solution along with rising inclination towards the concept of BYOD is further contributing to the growth of the global risk-based authentication market. The risk-based authentication system takes into consideration the profile of the agent requesting access to the particular system so as to reduce the risk profile associated with that transaction.

The global risk-based authentication market can be categorized based on component, technology, security policies, deployment, application, end-user and regional analysis. Based on the component, the market can be bifurcated into solution and services, of which the solution segment dominates the market, as this segment helps enterprises to identify and authenticate customers and protect customers’ data. The global risk-based authentication market caters to various end-users such as BFSI, healthcare, government, retail and others. Owing to increasing fraudulent activities and surging instances of cyber-attacks, BFSI was the largest segment in 2018, and is likely to continue its leading position during the forecast period as well.

Regionally, the market for risk-based authentication is gaining traction and expanding to various regions including Asia-Pacific, North America, Europe, South America and the Middle East & Africa. North America is expected to dominate the market during the forecast period due to elevating need to meet the compliance requirements for protecting user identity. However, Asia-Pacific is expected to grow at a high rate during the forecast period, owing to high security spending by organizations in countries such as China, India and Japan.

Major players operating in the global risk-based authentication market include International Business Machines Corporation, Micro Focus International plc, CA, Inc., RSA Security LLC and Okta, Inc. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments. For instance, IBM offers risk-based authentication solutions by bringing together IBM Trusteer Pinpoint Detect and IBM Security Access Manager. The solution assesses high-risk factors, analyzes session information and protects against fraudulent transactions.

Years considered for this report:

Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024

Objective of the Study:

• To analyze and forecast the global risk-based authentication market size.


• To classify and forecast the global risk-based authentication market based on component, technology, security policies, deployment, application, end-user and regional distribution.


• To identify drivers and challenges for the global risk-based authentication market.


• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global risk-based authentication market.


• To identify and analyze the profile of leading players operating in the global risk-based authentication market.

Some of the leading players in the global risk-based authentication market are include International Business Machines Corporation, Micro Focus International plc, CA, Inc., RSA Security LLC, Okta, Inc., etc.

The author performed both primary as well as exhaustive secondary research for this study. Initially, the author sourced a list of service providers across the globe. Subsequently, the author conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, the author could include the service providers which could not be identified due to the limitations of secondary research. The author analyzed the service offerings, distribution channels and presence of all major service providers across the globe.

The author calculated the global risk-based authentication market size by using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The author sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied.

Key Target Audience:

• Risk-based authentication hardware, software and service vendors


• Defence organizations


• Research organizations and consulting companies


• Value added resellers


• Government bodies such as regulating authorities and policy makers


• Organizations, forums and alliances related to risk-based authentication

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers and partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on the market opportunities.

Report Scope:

In this report, the global risk-based authentication market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Market, By Component:

• Solution


• Services


• Managed


• Professional

Market, By Technology:

• Multi-Factor Authentication


• Behavioural Biometrics


• Web Access Management

Market, By Security Policies:

• Device-Based Policies


• Attribute-Based Policies


• Behavior Policies


• Resource-Based Policies


• Network and Browser-based Policies

Market, By Deployment:

• Cloud


• On-premise

Market, By Application:

• Fraud Prevention


• Cloud-Application Security


• IoT Security


• Others

Market, By End-User:

• BFSI


• Healthcare


• Government


• Retail


• Others

Market, By Region:

North America

• United States


• Mexico


• Canada

Europe

• United Kingdom


• France


• Russia


• Germany


• Italy

Asia-Pacific

• China


• Japan


• South Korea


• India


• Australia

Middle East & Africa

• Egypt


• Saudi Arabia


• South Africa


• UAE

South America

• Brazil


• Argentina


• Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global risk-based authentication market.

Available Customizations:

With the given market data, the author offers customizations according the company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

*Note - Custom Research License:

For both the Single and Enterprise user license, 10% report specific customization is available free of any additional cost, as above. However, alternatively, if you are looking for additional content data or insight related to the scope of the report, you may purchase the new “Custom Research License”. Please enquire for pricing.

The custom research will be delivered in printable PDF format along with the report’s data excel sheet. This license offers 80 analyst hours. It is strongly recommended for an organization which wants to execute short ‘bespoke’ research projects related to the scope of the purchased report.