The Europe Passive Authentication Market would witness market growth of 20.2% CAGR during the forecast period (2022-2028).
Fingerprint scanning is the most popular biometric authentication method, and many people use it on their smartphones to unlock their devices or make online purchases. Companies have the chance to increase their ROI by concentrating on passive authentication during this new era of customer experience.
Many businesses offer platforms, solutions, and systems for passive authentication to help consumers safeguard their data and guard against data breaches and leaks. Silent authentication is another name for passive authentication. For online transactions, it offers convenient and reliable risk-based authentication, particularly for the BFSI (banking, financial services, and insurance) industry.
With the passive authentication method, users are validated and verified through the analysis of behavioral patterns. These methods offer adaptive authentication, which allows for exact real-time analysis of a transaction's data or legitimacy. To improve the user or customer experience, businesses across a variety of sectors, including e-commerce, retail, BFSI, and information technology (IT) & telecom, are employing passive authentication techniques.
Recently, digital identification has become increasingly important in a variety of industries. In 2016, schemes such as the Gov.UK Verify project were launched. The government released a revised edition of its digital identity and characteristics trust framework in August 2021. By the end of 2021, German people will be able to save a digital version of identification cards on smartphones and utilize it as a digital ID with a PIN for authentication.
The Germany market dominated the Europe Passive Authentication Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $258.9 million by 2028.The UK market is anticipated to grow at a CAGR of 19.2% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 21.1% during (2022 - 2028).
Based on Component, the market is segmented into Solution and Services. Based on Function, the market is segmented into Compliance Management, Marketing Management, Risk Management and Others. Based on Deployment, the market is segmented into On-Premise and Cloud. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Vertical, the market is segmented into BFSI, Healthcare, Government, Retail & Consumer Goods, Media & Entertainment, IT & Telecom and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Passive Authentication Market will Hit $3.9 Billion by 2028, at a CAGR of 20.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cisco Systems, Inc., IBM Corporation, NEC Corporation, Fair Isaac Corporation (FICO), Experian PLC, Nuance Communications, Inc. (Microsoft Corporation), Equifax Inc., RSA Security LLC (Symphony Technology Group), and BioCatch Ltd.
By Component
By Function
By Deployment
By Organization Size
By Vertical
By Country
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