Market Size of Mobile Devices User Authentication Services Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 23.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Mobile Devices User Authentication Services Market Analysis
The mobile devices user authentication services market is expected to reach USD 4.7 billion in 2026 from USD 1.36 billion in 2020, witnessing a CAGR of 23%, during the forecast period (2021 - 2026). According to an IBM study, users are three times more likely to respond to a phishing attack on a mobile device than a desktop, simply because a phone is where people are most likely to first see a message.
- According to the IBM Data Breach study (2018), the global average cost of a data breach is up by 6.4 % in 2018 over the USD 3.86 million in2017. To prevent any loss of sensitive data, awareness about user authentication is increasing. This creates a positive outlook for mobile devices user authentication services market because the penetration of smartphones is growing exponentially.
- Moreover, the enhancement in IT infrastructure, increasing cyber-attacks, which is a serious concern for the enterprises, and surge in the expenditure for safety and security for private and confidential data have further increased the demand for mobile devices user authentication services market.
- However, due to a lack of awareness when it comes to authentication and security of their devices among the user and high cost involved with matured authentication methods acting as key impediments to the growth of the market.
