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Risk Based Authentication Market Size, Share, Industry Trends and Forecast to 2030

Risk Based Authentication Market Research Report – Segmented By Region (North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America) – Analysis on Size, Share, Trends, COVID-19 Impact, Competitive Analysis, Growth Opportunities and Key Insights from 2019 to 2030.


  • Published date -30th Jan 2024

  • Formats -PDF, CSV

  • Region -Global

Risk Based Authentication Market Size & CAGR in 2021:

The global risk-based authentication market is projected to reach a market size of USD 2.5 billion in 2021. The market is expected to grow at a Compound Annual Growth Rate (CAGR) of 15% during the forecast period from 2021 to 2028. The increasing adoption of digital technologies and the rising instances of cyber threats are driving the growth of the risk-based authentication market.

COVID-19 Impact on the Risk Based Authentication Market:

The COVID-19 pandemic has significantly impacted the risk-based authentication market. With the shift towards remote working and increased online transactions, there has been a surge in cyber threats and fraudulent activities. Organizations are now focusing more on enhancing their authentication processes to ensure secure access to their systems and data. This has led to a growing demand for risk-based authentication solutions in the market.

Risk Based Authentication Dynamics:

The dynamics of the risk-based authentication market are influenced by various factors such as the increasing adoption of digital technologies, growing cybersecurity threats, and regulatory compliance requirements. Organizations are increasingly implementing risk-based authentication solutions to strengthen their security posture and protect their sensitive data. The market is also driven by the need for seamless user experience and advanced authentication methods to combat evolving cyber threats.

Segments and Related Analysis:

The risk-based authentication market can be segmented based on deployment type, organization size, vertical, and region. By deployment type, the market is categorized into cloud-based and on-premises solutions. Based on organization size, the market is divided into small and medium-sized enterprises (SMEs) and large enterprises. Verticals such as banking, financial services, and insurance (BFSI), healthcare, IT and telecom, retail, and others drive the demand for risk-based authentication solutions.

By Region Analysis:

The risk-based authentication market is segmented into regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the market due to the presence of major cybersecurity vendors and increasing investments in advanced authentication technologies. The Asia Pacific region is projected to witness significant growth attributed to the rapid adoption of digital platforms and the rise in cybercrimes.

Key Market Players and Competitive Landscape:

Key players in the risk-based authentication market include IBM Corporation, RSA Security LLC, CA Technologies, Micro Focus, Okta Inc., among others. These players are focusing on strategic partnerships, acquisitions, and product innovations to stay competitive in the market. The competitive landscape of the market is characterized by intense competition, constant technological advancements, and evolving customer demands.

Recent Happenings in the Risk Based Authentication Market:

In recent times, the risk-based authentication market has witnessed several developments such as the launch of new authentication solutions, strategic collaborations, and acquisitions. For instance, IBM introduced a new risk-based authentication solution to help organizations mitigate security risks and enhance user authentication. Such advancements and initiatives are expected to drive the growth of the risk-based authentication market in the coming years.

Frequently Asked Questions (FAQ):