Security threats in every industry have been growing continuously, with hackers constantly finding different ways to hack data, and viruses being created to hack private information from individual users and enterprises. Today, most users prefer to perform transactions online; hence, it becomes necessary for an organization to put together verification solutions which help in secure access. Organizations need a reliable authentication system to confirm the truth of somebody (person) or something (object). The manual password method is too often copied, breached, or shared, thus exposing data to theft. The Criminal Justice Information System (CJIS) obligated the use of advanced authentication in organizations in order to maintain the privacy and security of data. This mandate to use the system affects all agencies that access the CJIS network, including law enforcement agencies, the judicial system, and public safety. The advanced authentication system is again revamped or advanced in order to ensure more safety and confidentiality of the data and is known as two-factor authentication. Two-factor authentication requires alternative forms of verification (or credentials) in addition to the traditional username and password. The first credentials in the authentication is always something the user has (eye scan or fingerprint), whereas the second credential is something that the user knows (pin number, password, or a challenge question).
There are various factors driving the growth of the advanced authentication market. One of the key factors is growing security threats and the need of organizations to protect themselves from these threats. Government regulations, and increasing use of advanced authentication in several industry verticals such as BFSI and healthcare is responsible for the rising growth of the advanced authentication market. Also, increased adoption of mobility is contributing to the growth of the market. The pressure on enterprises to enable partners, employees and other investors to handle more sensitive information from any device and from anywhere is also expected to help the advanced authentication market to expand further. This factor makes advanced authentication systems a vital aspect of an enterprise's organizational strategy. The centralized policy engine in the advanced authentication system crosses all authentication methods. It is flexible, easing redundant work, and brings consistency in authentication, thus driving the growth of the advanced authentication market. Another vital factor contributing to the growth of the market is its geo-fencing facility. Geo-fencing uses global positioning technology (GPS); it allows the user to specify authentication policies on the basis of the user’s definite location, such as campus or building. These policies can be formed to limit access to users in the permitted locations in order to provide a safer environment for operation. However, inferior telecom infrastructure in developing countries and cultural factors are issues that may hamper the progress of the advanced authentication market.
The advanced authentication market is segmented on the basis of authentication methods, end- user industry, and geographic regions. By authentication methods, the market is segmented into smartcards, tokens, mobile smart credentials, user-based public key infrastructure, and others. On the basis of end-user industry, the market is segregated into BFSI, government, healthcare, travel and transport, defense and others. Geographically, the advanced authentication market is distributed over North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the advanced authentication market due to significant regulatory compliance and a large industrial base.
Key players in the global advanced authentication market include Fujitsu, RSA Security, Safran, NEC Corporation, Lumidigm, Gemalto, Suprema, ValidSoft, PistolStar, SecurEnvoy and others. In order to gain competitive advantage in the market, these players are vigorously involved in organic and inorganic growth strategies. Partnerships, collaborations, agreements, and new product launches are some of the vital strategies followed by them.
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