North America 3D Secure Authentication Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Solution and Services) and End User (Banks and Merchant & Payment Processor)

Solution Segment to Dominate North America 3D Secure Authentication Market during 2020-2028

According to a new market research study on “North America 3D Secure Authentication Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast by Component and End-user” is expected to reach US$ 567.70 million by 2028 from 267.57 US$ million in 2021. The market is estimated to grow at a CAGR of 10.8% from 2021 to 2028. The report provides trends prevailing in the North America 3D secure authentication market along with the drivers and restraints pertaining to the market growth. North America witnessing growth in E-commerce platforms is the major factor driving the growth of the North America 3D secure authentication market. However, the issue associated with possibility of data breach hinders the growth of North America 3D secure authentication market.

The North America 3D secure authentication market is segmented into component, End-user, and country. Based on component, the 3D secure authentication is segmented into solution and services. The solution segment dominated the 3D secure authentication market growth in 2020. With growing online frauds while making online payments, the penetration of 3D secure authentication solution will rise. Based on End-user, the 3D secure authentication is segmented into banks, merchants & payment processor. As merchants banks are the prominent End-user of 3D secure authentication technology, the merchant & payment processor dominated the market growth in 2020. Based on country, the 3D secure authentication is segmented into US, Canada, and Mexico.

North America is known for having the highest rate of advanced technology adoption due to favorable government policies that foster innovation and enhance internet infrastructure. As a result, every factor affecting the region's industrial performance obstructs its economic development. However, the US is the world's worst-affected country because of the COVID-19 outbreak, causing governments to impose several limitations on businesses in the country to contain the spread of novel coronavirus. On the upside down, the closure of businesses and public activities has not created a direct impact on the North America 3D secure authentication market as the adoption of e-commerce channels boosted significantly during the pandemic, which led to increase in online payment modes.

GPayments Pvt. Ltd.; Modirum; mSignia, Inc; Netcetera; Ravelin Technology Ltd; RS Software; and UL, LLC are among the leading companies in the North America 3D secure authentication market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Netcetera and Nok Nok Labs have entered a partnership to offer delegated authentication solutions to merchants and payment providers for addressing PSD2-SCA and 3DS 2.x protocols compliance

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