Phone-based Authentication Market Growth Outlook from 2024 to 2031 and it is Projecting at 12.1% CAGR with Market's Trends Analysis by Application, Regional Outlook and Revenue

The "Phone-based Authentication Market" is focused on controlling cost, and improving efficiency. Moreover, the reports offer both the demand and supply aspects of the market. The Phone-based Authentication market is expected to grow annually by 12.1% (CAGR 2024 - 2031).

This entire report is of 175 pages.

Phone-based Authentication Introduction and its Market Analysis

The Phone-based Authentication market research report reveals that Phone-based Authentication is a security measure that verifies the identity of users via their mobile devices. The target market for Phone-based Authentication includes industries such as banking, healthcare, and e-commerce. Major factors driving revenue growth in this market include the increasing number of cyber-attacks and the rise in mobile transactions. Companies such as Broadcom, Gemalto, and Symantec are key players in the Phone-based Authentication market. The report highlights the growing demand for secure authentication solutions and recommends investing in innovative technologies to combat evolving cybersecurity threats.

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The phone-based authentication market is witnessing a surge in demand due to advancements in technology and the need for secure access to sensitive information. The market is segmented into single-factor certification and multifactor certification, catering to various industries such as Banking, Financial Services, and Insurance (BFSI), Payment Card Industry (PCI), and Government sectors.

Regulatory and legal factors specific to market conditions include compliance with data protection laws such as GDPR and industry-specific regulations governing the handling of sensitive financial information. Additionally, the market is influenced by factors such as cybersecurity threats, increasing adoption of mobile banking services, and the need for secure online transactions.

With the growing emphasis on secure authentication methods, the phone-based authentication market is expected to expand further, driven by the need for robust security measures in a digital age. Businesses across various sectors are adopting phone-based authentication solutions to protect sensitive data and mitigate the risks associated with unauthorized access.

Top Featured Companies Dominating the Global Phone-based Authentication Market

The phone-based authentication market is highly competitive and includes key players such as Broadcom, Gemalto, Shearwater Group, Symantec, VASCO Data Security International, Entrust Datacard, Deepnet Security, EZMCOM, and Early Warning. These companies offer a range of solutions for phone-based authentication, including two-factor authentication, biometric authentication, and SMS-based authentication.

Broadcom is one of the leading companies in the phone-based authentication market, offering secure authentication solutions for mobile devices. Gemalto is another major player, providing secure identity solutions for businesses and governments worldwide. Shearwater Group specializes in cybersecurity solutions, including phone-based authentication services. Symantec is a trusted name in cybersecurity, offering authentication services to protect against online threats.

VASCO Data Security International offers a range of authentication solutions, including mobile authentication services. Entrust Datacard provides secure identity and authentication solutions for businesses. Deepnet Security specializes in multi-factor authentication solutions, including phone-based authentication. EZMCOM offers identity verification and authentication services for businesses, while Early Warning provides secure payment authentication services.

These companies help to grow the phone-based authentication market by developing innovative solutions that make it easier and more secure for businesses to verify the identity of their users. By offering reliable authentication services, these companies help to prevent fraud and protect sensitive information from cyber threats.

In terms of sales revenue, some of the above-listed companies have reported their financials. For example, Symantec reported sales revenue of $ billion in its fiscal year 2020. Gemalto reported revenue of €2.99 billion in its fiscal year 2019. VASCO Data Security International reported revenue of $210.25 million in its fiscal year 2019. These figures demonstrate the significant market size and potential for growth in the phone-based authentication market.

Broadcom
Gemalto
Shearwater Group
Symantec
VASCO Data Security International
Entrust Datacard
Deepnet Security
EZMCOM
Early Warning

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Phone-based Authentication Market Analysis, by Type:

Single Factor Certification
Multifactor Certification

Phone-based authentication can be categorized into single factor certification, requiring only one form of verification, such as a password or fingerprint, and multifactor certification, which involves multiple methods of authentication. Multifactor certification is considered more secure as it enhances protection against unauthorized access. The demand for phone-based authentication is boosted as organizations seek to strengthen their security measures and protect sensitive information. Multifactor certification is particularly favored by industries with high security risks, such as banking and healthcare, driving the growth of the phone-based authentication market.

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Phone-based Authentication Market Analysis, by Application:

Banking, Financial Services, And Insurance (BFSI)
Payment Card Industry (PCI)
Government

Phone-based authentication is widely used in BFSI for secure access to accounts and transactions. In PCI, it ensures secure online payments. Government agencies use it to validate identities for citizen services and secure data. Phone-based authentication involves sending a one-time code to the user's phone, which they must enter to access the service. The fastest-growing application segment in terms of revenue is BFSI, as more organizations in the financial sector adopt phone-based authentication to enhance security and combat fraud. This technology offers a convenient and secure way to verify identities and protect sensitive information across these industries.

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Phone-based Authentication Industry Growth Analysis, by Geography:

North America:

United States
Canada

Europe:

Germany
France
U.K.
Italy
Russia

Asia-Pacific:

China
Japan
South Korea
India
Australia
China Taiwan
Indonesia
Thailand
Malaysia

Latin America:

Mexico
Brazil
Argentina Korea
Colombia

Middle East & Africa:

Turkey
Saudi
Arabia
UAE
Korea

The phone-based authentication market is expected to witness significant growth in regions such as North America (United States, Canada), Europe (Germany, France, ., Italy, Russia), Asia-Pacific (China, Japan, South Korea, India, Australia, Indonesia, Thailand, Malaysia), Latin America (Mexico, Brazil, Argentina, Colombia), and Middle East & Africa (Turkey, Saudi Arabia, UAE, Korea). Among these regions, North America and Europe are expected to dominate the market, with a market share percentage valuation of around 35% and 25% respectively. Asia-Pacific is also projected to see significant growth, with a market share of approximately 20%. Latin America and Middle East & Africa are expected to account for smaller market shares of around 10% each.

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