Global Extended Authentication Market size (2024 -  2030)

The Global Extended Authentication Market was valued at USD 12.96 Billion and is projected to reach a market size of USD 17.68 Billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 4.54%.

Industry Overview:

The Extensible Authentication Protocol (EAP) is a protocol for wi-fi networks that expands the authentication strategies used by using the Point-to-Point Protocol (PPP), a protocol regularly used when connecting a pc to the internet. EAP is used on encrypted networks to grant an impenetrable way to ship figuring out records to furnish community authentication. It helps a variety of authentication methods, along with token cards, clever cards, certificates, one-time passwords, and public key encryption.

EAP techniques defend a precise portal so that solely customers with an authentication key or password can get community access. These strategies restrict the wide variety of customers and assist stop community congestion, making networks quicker and greater security. Organizations can use EAP techniques to adapt to unique privacy wishes and corporation guidelines.

Multi-factor authentication (MFA) is an authentication technique that requires customers to furnish two or extra verification elements to attain get right of entry to aid such as an application, online account, or a VPN. MFA is a core element of a robust identification and gets entry to administration (IAM) policy. Two-factor authentication (2FA), from time to time referred to as two-step verification or dual-factor authentication is a safe manner in which customers supply two exceptional authentication elements to affirm themselves.

COVID-19 impact on the Extended Authentication Market  

The COVID-19 pandemic has impacted each and every industry and due to social distancing norms, businesses are remodeling toward digitalization to make certain safety. A decades-long focal point on furnish chain optimization to decrease costs, limit inventories, and pressure up asset utilization has eliminated buffers and flexibility to soak up disruptions. The extensible authentication market has helped people a lot during the time of pandemics, it is a safer way to make your data safe and private from any cyber-attack.

With an estimated upward jab in cyber-based attacks, at some stage in the pandemic, the demand for multi-factor authentication answers has increased, growing a greater earnings margin. As per a find out about posted via the safety options issuer F5 Labs, a 220% enlarge in the number of phishing assaults had been said given that the first section of lockdowns commenced in many countries.

With an estimated upward jab in cyber-based attacks, at some stage in the pandemic, the demand for multi-factor authentication answers has increased, developing a greater earnings margin. As per a learn posted via the protection options company F5 Labs, an 220% enlarge in the range of phishing assaults has been stated on account that the first section of lockdowns began in many countries. Such situations provoked extra groups to beautify their modern-day safety infrastructure. Furthermore, as work from domestic and faraway working traditions grew in popularity, the world witnessed a surprising surge in cyber-criminal things to do that focused on many businesses and their customers. As a result, demand for higher safety of quintessential company property increased, and the multi-factor authentication market grew at some point during the pandemic.

MARKET DRIVERS:

An increase in the case of online identity theft is driving the growth of the market.

The Consumer Sentinel Network, maintained through the Federal Trade Commission (FTC), tracks purchaser fraud and identification theft complaints that have been filed with federal, state, and nearby regulation enforcement organizations and personal organizations. With the growing online services, monetary establishments and governments are transferring towards the adoption of digital identities to furnish clients and residents with a simpler and quicker way to get entry to services. Due to the growing wide variety of high-profile records breaches and identification thieves turning into extra sophisticated, corporations throughout these verticals are equipping themselves with greater identification verification measures to defend touchy information contained by using them towards frauds. Such theft and fraud situations are a wake-up name for corporations to install MFA options and services.

The increase in the number of online transactions is also driving the growth of the market.

The growing quantity of online transactions with the excessive adoption of digital banking by using clients is anticipated to propel the demand for MFA. The spurt in eCommerce and use of net banking, and obligatory legal guidelines by means of central banks are urging massive companies to authenticate customers with sturdy authentication measures. The developing use of cell banking for online transactions is set to surge the demand for OTP authenticators (both hardware and software). MFA is used for impenetrable transactions and to shield clients from phishing assaults and fraudulent transactions. Moreover, the integration of these structures for the price by way of sectors of healthcare, retail, and BFSI is an extensive probability for the boom of the multi-factor authentication market.

MARKET RESTRAINTS:

Lack of technical expertise is restraining the growth of the market

The fundamental task confronted by businesses whilst adopting MFA options is the excessive fee worried in deploying these solutions. MFA options assist companies and customers in lowering the threat of statistics losses. These options show to be a luxurious answer for SMEs due to financial restrictions. Moreover, the upkeep and well-timed upgradation prices add to the normal enlarge in an organization’s expenses. The software program licensing costs, software program renovation costs, and technical assistance for users, are steeply-priced options for within your-means corporations to deploy. Various elements such as hardware tokens, software program tokens, biometric authentication, and the requirement of certification in MFA to fulfill the compliance requirements have resulted in the excessive charge of MFA solutions.

EXTENDED AUTHENTICATION  MARKET REPORT COVERAGE:

This research report on the global Extended Authentication Market has been segmented and sub-segmented based on the Authentication Methods, Industry, and region.

Extended Authentication Market - By Authentication Methods:

• • Smart card
  • Biometrics
  • Mobile smart Credentials
  • Tokens
  • others

Based on the Authentication method, Biometrics analyze and verify/authenticate humans based totally on human bodily characteristics, such as fingerprint, retina, iris, palm, speech, and voice, amongst others.

This technique of authentication has been extensively adopted, owing to the key blessings it offers, specifically its non-repudiation, non-transferable, and non-identifiable nature, as a consequence imparting an excessive stage of safety in opposition to fraud. The science has determined profitable implementation throughout a number of end-users, such as forensics, governments, banking and economic institutions, and employer identification management, amongst others. Moreover, the sizable availability of fingerprint sensors in lower-priced cellular gadgets and the authority's countrywide ID applications have been instrumental in growing the recognition and adoption of this technology.

Extended Authentication Market - By Industry:

• BFSI
• Healthcare
• Media & Entertainment
• Government
• Others

Based on, the industry, The media & enjoyment section is projected to witness the quickest boom charge at some stage in the forecast period. Media and enjoyment industries play a critical position in shaping the countrywide photo and more than a few public opinions, accordingly making it a pleasing goal for cybercriminal groups. Media organizations’ touchy data, together with press releases, mental property, partnerships, The USA. operations, and sources, are the everyday ambitions of government-sponsored APT groups. With every person caught interior due to the fact of COVID-19, the demand for online video streaming thru cell purposes and related TV have calcified. With the meteoric upward shove in site visitors to online streaming sites, cybercriminals have begun to entice customers into scamming streaming sites, such as Netflix, Amazon Prime, or Disney Hotstar Plus. As per a specialist from Kaspersky, 22,000 contamination tries the place hackers used ‘Netflix’ as a entice have been detected, and the show, ‘The Mandalorian,’ used to be often exploited with 1,614 customers getting uncovered and 5,855 contamination tries getting registered. Hence, the want for MFA options and offerings to shield in opposition to the hovering superior threats in the media and amusement segment.

Extended Authentication Market - By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East
• Africa

Geographically, North America is estimated to account for the best market share in the multi-factor authentication market. North America leads the world MFA market in phrases of the presence of the world’s biggest quantity of MFA vendors. North America is the most superior area in phrases of protection technological know-how adoption and infrastructure. The principal boom drivers for this place are the substantial adherence to information compliance rules and cloud deployments. Due to the excessive adoption of cloud-based purposes in North America, cyberattacks are growing and turning into greater sophisticated.

Hence, industries in the vicinity are more and more imposing huge MFA solutions. The key pinnacle MFA market providers functioning in the place are many that are discussed in the next section. North America is predicted to keep the biggest market measurement in the MFA market through 2030 due to the presence of important carriers in the region, investments and innovations, and excessive adoption rates.

Extended Authentication Market Share by Company

1. Broadcom
2. OneSpan
3. Microsoft
4. Okta
5. RSA Security
6. Duo Security
7. Ping Identity
8. HID Global
9. ForgeRock
10. CyberArk
11. OneLogin
12. SecureAuth
13. Oracle
14. Salesforce

Recently, Ping Identity collaborated with One Identity, a provider of identity-centered security, to provide end-to-end identity management strategies and strengthen access security and control. The partnership enables customers to combine the power of Ping Identity’s access management technology with One Identity’s Identity Governance and Administration (IGA) technology.

Also, Ping Identity declared the availability of PingID MFA in the AWS Marketplace. Customers can quickly procure and deploy PingID to secure work from home while adding another layer of security to their AWS infrastructure.

To amplify the robustness of authentication, many end-user industries throughout the region, such as banking, retail, and healthcare amongst others have delivered two-way authentication structures for the usage of their online or cloud services, alongside microchip-equipped savings and debit cards.

NOTABLE HAPPENINGS IN THE GLOBAL EXTENDED AUTHENTICATION MARKET IN THE RECENT PAST:

• Product Launch - In May 2021, Microsoft announced new products, employee plans, and guidance to tackle the global fight against increasingly large-scale and complex cyberattacks.
• Agreement - In March 2021, Okta entered into a definitive agreement to acquire Auth0 for USD 6.5 billion.