The Europe Advanced Authentication in Financial Services Market would witness market growth of 14.1% CAGR during the forecast period (2022-2028).
Financial institutions are typically fervent supporters of cybersecurity innovation as it is the sector most frequently targeted by attacks and is one of the ones regulators watch closely. Though the procedures preventing access and authentication to the services and systems of financial institutions are guarded by attacks, attacks on these institutions continue to occur. For example, Flagstar Bank recently reported that hackers had accessed their networks without authorization and obtained over 1.5 million client details.
Malware assaults and credential stuffing attacks are the second most frequent attack types after phishing. The risk of push notification attacks follows these closely. Push assaults especially target the push notifications utilized by many authenticators, often known as MFA-prompt bombing. Modern hacker groups like Lapsuss, who recently compromised Okta, Microsoft, Samsung, and other companies, use it frequently.
Additionally, ransomware also remains one of the most common and most used attacks. While not all ransomware attempts are successful, many firms suffer cyber breaches, and roughly a third are breached more than once. The repercussions are severe for many people, including everything from regulatory fines to losing clients to competitors to losing employee and customer data. Credential-related concerns are identified as the primary attack channel in the financial field by several industry assessments. So, most firms experience at least one breach connected to an authentication flaw.
The current financial services regulations would be significantly modified by the European Commission in terms of legislation to take into account the technological developments brought about by distributed ledger, digital asset technologies, and blockchain. The European Commission proposes to amend or extend the Markets in Financial Instruments Directive (MiFID) to cover all digital assets to regulate all digital assets and decentralized financial products. As a result of this accomplishment, Europe will become the only continent with advanced financial service and product regulation. Therefore, all the initiatives and developments in adopting advanced authentication methods are beneficial for expanding the regional market in Europe.
The Germany market dominated the Europe Advanced Authentication in Financial Services Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $708.2 Million by 2028. The UK market is anticipated to grow at a CAGR of 13.1% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 14.9% during (2022 - 2028).
Based on Type, the market is segmented into Multi-factor Authentication and Single-factor Authentication. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium-sized Enterprises. Based on Authentication Method, the market is segmented into Biometrics, Smart Cards, Mobile Smart Credentials and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Advanced Authentication in Financial Services Market is Projected to reach USD 11.3 Billion by 2028, at a CAGR of 14.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Broadcom, Inc. (CA Technologies, Inc.), Dell Technologies, Inc., Mastercard, Inc., Thales Group S.A., NEC Corporation, ValidSoft Group, SecurEnvoy Limited (Shearwater Group PLC), Ping Identity Holding Corp. (Thoma Bravo, L.P.), Absolute Software Corporation and Fujitsu Limited.
Scope of the Study
Market Segments Covered in the Report:
By Type
- Multi-factor Authentication
- Single-factor Authentication
By Enterprise Size
- Large Enterprises
- Small & Medium-sized Enterprises
By Authentication Method
- Biometrics
- Smart Cards
- Mobile Smart Credentials
- Others
By Country
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Broadcom, Inc. (CA Technologies, Inc.)
- Dell Technologies, Inc.
- Mastercard, Inc.
- Thales Group S.A.
- NEC Corporation
- ValidSoft Group
- SecurEnvoy Limited (Shearwater Group PLC)
- Ping Identity Holding Corp. (Thoma Bravo, L.P.)
- Absolute Software Corporation
- Fujitsu Limited
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Europe Advanced Authentication in Financial Services Market, by Type
1.4.2 Europe Advanced Authentication in Financial Services Market, by Enterprise Size
1.4.3 Europe Advanced Authentication in Financial Services Market, by Authentication Method
1.4.4 Europe Advanced Authentication in Financial Services Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Market Share Analysis, 2021
3.4 Top Winning Strategies
3.4.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.4.2 Key Strategic Move: (Acquisition and Mergers: 2019, Apr – 2023, Mar) Leading Players
Chapter 4. Europe Advanced Authentication in Financial Services Market by Type
4.1 Europe Multi-factor Authentication Market by Country
4.2 Europe Single-factor Authentication Market by Country
Chapter 5. Europe Advanced Authentication in Financial Services Market by Enterprise Size
5.1 Europe Large Enterprises Market by Country
5.2 Europe Small & Medium-sized Enterprises Market by Country
Chapter 6. Europe Advanced Authentication in Financial Services Market by Authentication Method
6.1 Europe Biometrics Market by Country
6.2 Europe Smart Cards Market by Country
6.3 Europe Mobile Smart Credentials Market by Country
6.4 Europe Others Market by Country
Chapter 7. Europe Advanced Authentication in Financial Services Market by Country
7.1 Germany Advanced Authentication in Financial Services Market
7.1.1 Germany Advanced Authentication in Financial Services Market by Type
7.1.2 Germany Advanced Authentication in Financial Services Market by Enterprise Size
7.1.3 Germany Advanced Authentication in Financial Services Market by Authentication Method
7.2 UK Advanced Authentication in Financial Services Market
7.2.1 UK Advanced Authentication in Financial Services Market by Type
7.2.2 UK Advanced Authentication in Financial Services Market by Enterprise Size
7.2.3 UK Advanced Authentication in Financial Services Market by Authentication Method
7.3 France Advanced Authentication in Financial Services Market
7.3.1 France Advanced Authentication in Financial Services Market by Type
7.3.2 France Advanced Authentication in Financial Services Market by Enterprise Size
7.3.3 France Advanced Authentication in Financial Services Market by Authentication Method
7.4 Russia Advanced Authentication in Financial Services Market
7.4.1 Russia Advanced Authentication in Financial Services Market by Type
7.4.2 Russia Advanced Authentication in Financial Services Market by Enterprise Size
7.4.3 Russia Advanced Authentication in Financial Services Market by Authentication Method
7.5 Spain Advanced Authentication in Financial Services Market
7.5.1 Spain Advanced Authentication in Financial Services Market by Type
7.5.2 Spain Advanced Authentication in Financial Services Market by Enterprise Size
7.5.3 Spain Advanced Authentication in Financial Services Market by Authentication Method
7.6 Italy Advanced Authentication in Financial Services Market
7.6.1 Italy Advanced Authentication in Financial Services Market by Type
7.6.2 Italy Advanced Authentication in Financial Services Market by Enterprise Size
7.6.3 Italy Advanced Authentication in Financial Services Market by Authentication Method
7.7 Rest of Europe Advanced Authentication in Financial Services Market
7.7.1 Rest of Europe Advanced Authentication in Financial Services Market by Type
7.7.2 Rest of Europe Advanced Authentication in Financial Services Market by Enterprise Size
7.7.3 Rest of Europe Advanced Authentication in Financial Services Market by Authentication Method
Chapter 8. Company Profiles
8.1 Broadcom, Inc. (CA Technologies, Inc.)
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expense
8.1.5 Recent strategies and developments:
8.1.5.1 Acquisition and Mergers:
8.1.6 SWOT Analysis
8.2 Dell Technologies, Inc.
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expense
8.2.5 SWOT Analysis:
8.3 Mastercard, Inc.
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Regional Analysis
8.3.4 Recent strategies and developments:
8.3.4.1 Partnerships, Collaborations, and Agreements:
8.3.4.2 Product Launches and Product Expansions:
8.3.4.3 Acquisition and Mergers:
8.4 Thales Group S.A.
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expenses
8.4.5 Recent strategies and developments:
8.4.5.1 Partnerships, Collaborations, and Agreements:
8.4.5.2 Product Launches and Product Expansions:
8.4.5.3 Acquisition and Mergers:
8.5 NEC Corporation
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Research & Development Expenses
8.5.5 Recent strategies and developments:
8.5.5.1 Partnerships, Collaborations, and Agreements:
8.5.5.2 Product Launches and Product Expansions:
8.6 ValidSoft Group
8.6.1 Company Overview
8.6.2 Recent strategies and developments:
8.6.2.1 Partnerships, Collaborations, and Agreements:
8.6.2.2 Product Launches and Product Expansions:
8.7 SecurEnvoy Limited (Shearwater Group plc)
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Regional Analysis
8.8 Ping Identity Holding Corp. (Thoma Bravo, L.P.)
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Regional Analysis
8.8.4 Research & Development Expenses
8.8.5 Recent strategies and developments:
8.8.5.1 Partnerships, Collaborations, and Agreements:
8.8.5.2 Product Launches and Product Expansions:
8.8.5.3 Acquisition and Mergers:
8.9 Absolute Software Corporation
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Regional Analysis
8.9.4 Research & Development Expenses
8.9.5 Recent strategies and developments:
8.9.5.1 Acquisition and Mergers:
8.10. Fujitsu Limited
8.10.1 Company Overview
8.10.2 Financial Analysis
8.10.3 Segmental and Regional Analysis
8.10.4 Research & Development Expenses
8.10.5 Recent strategies and developments:
8.10.5.1 Acquisition and Mergers:
TABLE 1 Europe Advanced Authentication in Financial Services Market, 2018 - 2021, USD Million
TABLE 2 Europe Advanced Authentication in Financial Services Market, 2022 - 2028, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Advanced Authentication in Financial Services Market
TABLE 4 Product Launches And Product Expansions– Advanced Authentication in Financial Services Market
TABLE 5 Acquisition and Mergers– Advanced Authentication in Financial Services Market
TABLE 6 Europe Advanced Authentication in Financial Services Market by Type, 2018 - 2021, USD Million
TABLE 7 Europe Advanced Authentication in Financial Services Market by Type, 2022 - 2028, USD Million
TABLE 8 Europe Multi-factor Authentication Market by Country, 2018 - 2021, USD Million
TABLE 9 Europe Multi-factor Authentication Market by Country, 2022 - 2028, USD Million
TABLE 10 Europe Single-factor Authentication Market by Country, 2018 - 2021, USD Million
TABLE 11 Europe Single-factor Authentication Market by Country, 2022 - 2028, USD Million
TABLE 12 Europe Advanced Authentication in Financial Services Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 13 Europe Advanced Authentication in Financial Services Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 14 Europe Large Enterprises Market by Country, 2018 - 2021, USD Million
TABLE 15 Europe Large Enterprises Market by Country, 2022 - 2028, USD Million
TABLE 16 Europe Small & Medium-sized Enterprises Market by Country, 2018 - 2021, USD Million
TABLE 17 Europe Small & Medium-sized Enterprises Market by Country, 2022 - 2028, USD Million
TABLE 18 Europe Advanced Authentication in Financial Services Market by Authentication Method, 2018 - 2021, USD Million
TABLE 19 Europe Advanced Authentication in Financial Services Market by Authentication Method, 2022 - 2028, USD Million
TABLE 20 Europe Biometrics Market by Country, 2018 - 2021, USD Million
TABLE 21 Europe Biometrics Market by Country, 2022 - 2028, USD Million
TABLE 22 Europe Smart Cards Market by Country, 2018 - 2021, USD Million
TABLE 23 Europe Smart Cards Market by Country, 2022 - 2028, USD Million
TABLE 24 Europe Mobile Smart Credentials Market by Country, 2018 - 2021, USD Million
TABLE 25 Europe Mobile Smart Credentials Market by Country, 2022 - 2028, USD Million
TABLE 26 Europe Others Market by Country, 2018 - 2021, USD Million
TABLE 27 Europe Others Market by Country, 2022 - 2028, USD Million
TABLE 28 Europe Advanced Authentication in Financial Services Market by Country, 2018 - 2021, USD Million
TABLE 29 Europe Advanced Authentication in Financial Services Market by Country, 2022 - 2028, USD Million
TABLE 30 Germany Advanced Authentication in Financial Services Market, 2018 - 2021, USD Million
TABLE 31 Germany Advanced Authentication in Financial Services Market, 2022 - 2028, USD Million
TABLE 32 Germany Advanced Authentication in Financial Services Market by Type, 2018 - 2021, USD Million
TABLE 33 Germany Advanced Authentication in Financial Services Market by Type, 2022 - 2028, USD Million
TABLE 34 Germany Advanced Authentication in Financial Services Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 35 Germany Advanced Authentication in Financial Services Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 36 Germany Advanced Authentication in Financial Services Market by Authentication Method, 2018 - 2021, USD Million
TABLE 37 Germany Advanced Authentication in Financial Services Market by Authentication Method, 2022 - 2028, USD Million
TABLE 38 UK Advanced Authentication in Financial Services Market, 2018 - 2021, USD Million
TABLE 39 UK Advanced Authentication in Financial Services Market, 2022 - 2028, USD Million
TABLE 40 UK Advanced Authentication in Financial Services Market by Type, 2018 - 2021, USD Million
TABLE 41 UK Advanced Authentication in Financial Services Market by Type, 2022 - 2028, USD Million
TABLE 42 UK Advanced Authentication in Financial Services Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 43 UK Advanced Authentication in Financial Services Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 44 UK Advanced Authentication in Financial Services Market by Authentication Method, 2018 - 2021, USD Million
TABLE 45 UK Advanced Authentication in Financial Services Market by Authentication Method, 2022 - 2028, USD Million
TABLE 46 France Advanced Authentication in Financial Services Market, 2018 - 2021, USD Million
TABLE 47 France Advanced Authentication in Financial Services Market, 2022 - 2028, USD Million
TABLE 48 France Advanced Authentication in Financial Services Market by Type, 2018 - 2021, USD Million
TABLE 49 France Advanced Authentication in Financial Services Market by Type, 2022 - 2028, USD Million
TABLE 50 France Advanced Authentication in Financial Services Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 51 France Advanced Authentication in Financial Services Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 52 France Advanced Authentication in Financial Services Market by Authentication Method, 2018 - 2021, USD Million
TABLE 53 France Advanced Authentication in Financial Services Market by Authentication Method, 2022 - 2028, USD Million
TABLE 54 Russia Advanced Authentication in Financial Services Market, 2018 - 2021, USD Million
TABLE 55 Russia Advanced Authentication in Financial Services Market, 2022 - 2028, USD Million
TABLE 56 Russia Advanced Authentication in Financial Services Market by Type, 2018 - 2021, USD Million
TABLE 57 Russia Advanced Authentication in Financial Services Market by Type, 2022 - 2028, USD Million
TABLE 58 Russia Advanced Authentication in Financial Services Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 59 Russia Advanced Authentication in Financial Services Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 60 Russia Advanced Authentication in Financial Services Market by Authentication Method, 2018 - 2021, USD Million
TABLE 61 Russia Advanced Authentication in Financial Services Market by Authentication Method, 2022 - 2028, USD Million
TABLE 62 Spain Advanced Authentication in Financial Services Market, 2018 - 2021, USD Million
TABLE 63 Spain Advanced Authentication in Financial Services Market, 2022 - 2028, USD Million
TABLE 64 Spain Advanced Authentication in Financial Services Market by Type, 2018 - 2021, USD Million
TABLE 65 Spain Advanced Authentication in Financial Services Market by Type, 2022 - 2028, USD Million
TABLE 66 Spain Advanced Authentication in Financial Services Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 67 Spain Advanced Authentication in Financial Services Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 68 Spain Advanced Authentication in Financial Services Market by Authentication Method, 2018 - 2021, USD Million
TABLE 69 Spain Advanced Authentication in Financial Services Market by Authentication Method, 2022 - 2028, USD Million
TABLE 70 Italy Advanced Authentication in Financial Services Market, 2018 - 2021, USD Million
TABLE 71 Italy Advanced Authentication in Financial Services Market, 2022 - 2028, USD Million
TABLE 72 Italy Advanced Authentication in Financial Services Market by Type, 2018 - 2021, USD Million
TABLE 73 Italy Advanced Authentication in Financial Services Market by Type, 2022 - 2028, USD Million
TABLE 74 Italy Advanced Authentication in Financial Services Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 75 Italy Advanced Authentication in Financial Services Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 76 Italy Advanced Authentication in Financial Services Market by Authentication Method, 2018 - 2021, USD Million
TABLE 77 Italy Advanced Authentication in Financial Services Market by Authentication Method, 2022 - 2028, USD Million
TABLE 78 Rest of Europe Advanced Authentication in Financial Services Market, 2018 - 2021, USD Million
TABLE 79 Rest of Europe Advanced Authentication in Financial Services Market, 2022 - 2028, USD Million
TABLE 80 Rest of Europe Advanced Authentication in Financial Services Market by Type, 2018 - 2021, USD Million
TABLE 81 Rest of Europe Advanced Authentication in Financial Services Market by Type, 2022 - 2028, USD Million
TABLE 82 Rest of Europe Advanced Authentication in Financial Services Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 83 Rest of Europe Advanced Authentication in Financial Services Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 84 Rest of Europe Advanced Authentication in Financial Services Market by Authentication Method, 2018 - 2021, USD Million
TABLE 85 Rest of Europe Advanced Authentication in Financial Services Market by Authentication Method, 2022 - 2028, USD Million
TABLE 86 Key Information – Broadcom, Inc.
TABLE 87 Key Information – Dell Technologies, Inc.
TABLE 88 key Information – Mastercard, Inc.
TABLE 89 key information – Thales Group S.A.
TABLE 90 KEY INFORMATION – NEC Corporation
TABLE 91 Key Information – ValidSoft Group
TABLE 92 key Information – SecurEnvoy Limited
TABLE 93 Key information – Ping Identity Holding Corp.
TABLE 94 Key Information – Absolute Software Corporation
TABLE 95 Key Information – Fujitsu Limited
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Market Share Analysis, 2021
FIG 4 Key Leading Strategies: Percentage Distribution (2018-2022)
FIG 5 Key Strategic Move: (Acquisition and Mergers: 2019, Apr – 2023, Mar) Leading Players
FIG 6 SWOT Analysis: Broadcom, Inc.
FIG 7 SWOT Analysis: Dell Technologies, Inc.
FIG 8 Recent strategies and developments: Mastercard, Inc.
FIG 9 Recent strategies and developments: Thales Group S.A.
FIG 10 Recent strategies and developments: Ping Identity Holding Corp.