Advanced Authentication Market in Public Sector Enterprises Market Size

Public Sector Enterprises Advanced Authentication Market Analysis

The Advanced Authentication Market in Public Sector Enterprises is expected to register a CAGR of 20.3 % during the forecast period from 2021 to 2026. In recent years, there has been a rise in the digitalization of public enterprise, which includes government agencies, municipalities, and defense agencies. Furthermore, public enterprises operate very differently with multiple levels of cybersecurity. Defense agencies have much stronger authentication and budget compared to smaller municipal agencies, which usually lack resources.

• Verizon's latest Data Breach Investigations Report found that 16% of breaches were in the public sector, excluding healthcare. This is a slight increase in the 14% of incidents reported five years earlier. External actors have accounted for a growing percentage of breaches across all industries, making up 75% in 2019 against 62% in 2018. This suggests that although organizations are improving their defenses against insider threats and data loss protection, they face new and potentially more dangerous threats.
• Further, Verizon found that public sector cyber-attacks made up to 66% of all incidents in 2019. And 'state-affiliated bodies' have been the leading cause of external public sector data breaches since 2017. In 2019, they accounted for 79% of incidents. The information contained by these enterprises is most crucial, and typically have a record of the entire population of their region, making it one the favored sectors for the hackers. The hackers look to exploit the weaker security framework of these enterprises.
• Further, in other public areas, in February 2020, the government of Quebec has admitted to a data breach potentially impacting around 360,000 teachers employed in the Canadian province. By using a stolen username and password, the attackers were able to access a database where the information of teaching professionals was stored. Such instances indicate the demand for advanced authentication. Furthermore, the Ponemon Institute ranked public enterprises very low when it comes to monetary loss due to federal hacking agencies.
• In a recent trend survey made by DMEXCO and presented at an event in Cologne, Germany, it was determined that although the world is currently suffering economically, the digital economy may greatly benefit after the COVID -19 pandemic. According to the survey, the COVID -19 crisis will accelerate the rhythm of digital transformation and stimulate the demand for advanced authentication, mostly in the public infrastructure sector and government offices. Government organizations require robust authentication and encryption methods for secure access to online resources.
• In April 2020, responding to increased demand from government organizations needing to maintain productivity in a COVID -19 work from home environment, Authentic 8 announced the immediate availability of enhanced CAC/PIV card capabilities. Across the government and commercial sectors, end users are utilizing Silo to securely access OWA, O365, cloud storage, Time and Attendance services, ticketing systems, and more. The Silo Web Isolation Platform is in the process with FedRAMP certification and is deployed in production environments in more than 150 federal organizations to prevent a data breach.