The Asia Pacific Advanced Authentication in Financial Services Market would witness market growth of 15.3% CAGR during the forecast period (2022-2028).
One of the most vulnerable areas was banking authentication, with breaches due to inadequate authentication occurring in 90% of smaller institutions. As a result, financial organizations incur significant losses due to authentication security failures. In recent years, many financial establishments have implemented multi-factor authentication (MFA) and two-factor authentication (2FA) to safeguard their brand reputations and continue to comply with federal and state regulations. This has enabled them to confidently safeguard access for their staff and clients.
However, 2FA and simple passwords are no longer sufficient to protect enterprise infrastructure. Passwords are not an effective deterrent for criminals because they are simple to crack and easily foreseeable. While 2FA is an upgrade over password-only authentication and a solid step towards better access and identity management, there are still some 2FA drawbacks. Examples include the ease with which knowledge-based questions can be socially engineered, the vulnerability of hard tokens, the frequent false acceptance of popular push notifications, and the spoofing of one-time passcodes sent by SMS/text.
Asia Pacific occupies a special position in the world's financial and technological environment. It is expanding quickly in several nations in the Asia Pacific region, where the adoption of digital banking and trade is strongest. To establish a "single source of truth" and give banks and retailers verified client digital identities, some nations have established legislation and launched independent programs. As examples, consider Thailand's Digital ID, Singapore's MyInfo, and Malaysia's MyKad, all created to simplify and expedite the identity verification process. Similarly, a major Japanese bank expects facial recognition technology to be installed in all of its ATMs, enabling users to open new accounts. This will fuel market expansion.
The China market dominated the Asia Pacific Advanced Authentication in Financial Services Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $942.4 Million by 2028. The Japan market is estimated to grow a CAGR of 14.7% during (2022 - 2028). Additionally, The India market would experience a CAGR of 16.1% during (2022 - 2028).
Based on Type, the market is segmented into Multi-factor Authentication and Single-factor Authentication. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium-sized Enterprises. Based on Authentication Method, the market is segmented into Biometrics, Smart Cards, Mobile Smart Credentials and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Advanced Authentication in Financial Services Market is Projected to reach USD 11.3 Billion by 2028, at a CAGR of 14.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Broadcom, Inc. (CA Technologies, Inc.), Dell Technologies, Inc., Mastercard, Inc., Thales Group S.A., NEC Corporation, ValidSoft Group, SecurEnvoy Limited (Shearwater Group PLC), Ping Identity Holding Corp. (Thoma Bravo, L.P.), Absolute Software Corporation and Fujitsu Limited.
Scope of the Study
Market Segments Covered in the Report:
By Type
- Multi-factor Authentication
- Single-factor Authentication
By Enterprise Size
- Large Enterprises
- Small & Medium-sized Enterprises
By Authentication Method
- Biometrics
- Smart Cards
- Mobile Smart Credentials
- Others
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Broadcom, Inc. (CA Technologies, Inc.)
- Dell Technologies, Inc.
- Mastercard, Inc.
- Thales Group S.A.
- NEC Corporation
- ValidSoft Group
- SecurEnvoy Limited (Shearwater Group PLC)
- Ping Identity Holding Corp. (Thoma Bravo, L.P.)
- Absolute Software Corporation
- Fujitsu Limited
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Advanced Authentication in Financial Services Market, by Type
1.4.2 Asia Pacific Advanced Authentication in Financial Services Market, by Enterprise Size
1.4.3 Asia Pacific Advanced Authentication in Financial Services Market, by Authentication Method
1.4.4 Asia Pacific Advanced Authentication in Financial Services Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Market Share Analysis, 2021
3.4 Top Winning Strategies
3.4.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.4.2 Key Strategic Move: (Acquisition and Mergers: 2019, Apr – 2023, Mar) Leading Players
Chapter 4. Asia Pacific Advanced Authentication in Financial Services Market by Type
4.1 Asia Pacific Multi-factor Authentication Market by Country
4.2 Asia Pacific Single-factor Authentication Market by Country
Chapter 5. Asia Pacific Advanced Authentication in Financial Services Market by Enterprise Size
5.1 Asia Pacific Large Enterprises Market by Country
5.2 Asia Pacific Small & Medium-sized Enterprises Market by Country
Chapter 6. Asia Pacific Advanced Authentication in Financial Services Market by Authentication Method
6.1 Asia Pacific Biometrics Market by Country
6.2 Asia Pacific Smart Cards Market by Country
6.3 Asia Pacific Mobile Smart Credentials Market by Country
6.4 Asia Pacific Others Market by Country
Chapter 7. Asia Pacific Advanced Authentication in Financial Services Market by Country
7.1 China Advanced Authentication in Financial Services Market
7.1.1 China Advanced Authentication in Financial Services Market by Type
7.1.2 China Advanced Authentication in Financial Services Market by Enterprise Size
7.1.3 China Advanced Authentication in Financial Services Market by Authentication Method
7.2 Japan Advanced Authentication in Financial Services Market
7.2.1 Japan Advanced Authentication in Financial Services Market by Type
7.2.2 Japan Advanced Authentication in Financial Services Market by Enterprise Size
7.2.3 Japan Advanced Authentication in Financial Services Market by Authentication Method
7.3 India Advanced Authentication in Financial Services Market
7.3.1 India Advanced Authentication in Financial Services Market by Type
7.3.2 India Advanced Authentication in Financial Services Market by Enterprise Size
7.3.3 India Advanced Authentication in Financial Services Market by Authentication Method
7.4 South Korea Advanced Authentication in Financial Services Market
7.4.1 South Korea Advanced Authentication in Financial Services Market by Type
7.4.2 South Korea Advanced Authentication in Financial Services Market by Enterprise Size
7.4.3 South Korea Advanced Authentication in Financial Services Market by Authentication Method
7.5 Singapore Advanced Authentication in Financial Services Market
7.5.1 Singapore Advanced Authentication in Financial Services Market by Type
7.5.2 Singapore Advanced Authentication in Financial Services Market by Enterprise Size
7.5.3 Singapore Advanced Authentication in Financial Services Market by Authentication Method
7.6 Malaysia Advanced Authentication in Financial Services Market
7.6.1 Malaysia Advanced Authentication in Financial Services Market by Type
7.6.2 Malaysia Advanced Authentication in Financial Services Market by Enterprise Size
7.6.3 Malaysia Advanced Authentication in Financial Services Market by Authentication Method
7.7 Rest of Asia Pacific Advanced Authentication in Financial Services Market
7.7.1 Rest of Asia Pacific Advanced Authentication in Financial Services Market by Type
7.7.2 Rest of Asia Pacific Advanced Authentication in Financial Services Market by Enterprise Size
7.7.3 Rest of Asia Pacific Advanced Authentication in Financial Services Market by Authentication Method
Chapter 8. Company Profiles
8.1 Broadcom, Inc. (CA Technologies, Inc.)
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expense
8.1.5 Recent strategies and developments:
8.1.5.1 Acquisition and Mergers:
8.1.6 SWOT Analysis
8.2 Dell Technologies, Inc.
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expense
8.2.5 SWOT Analysis:
8.3 Mastercard, Inc.
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Regional Analysis
8.3.4 Recent strategies and developments:
8.3.4.1 Partnerships, Collaborations, and Agreements:
8.3.4.2 Product Launches and Product Expansions:
8.3.4.3 Acquisition and Mergers:
8.4 Thales Group S.A.
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expenses
8.4.5 Recent strategies and developments:
8.4.5.1 Partnerships, Collaborations, and Agreements:
8.4.5.2 Product Launches and Product Expansions:
8.4.5.3 Acquisition and Mergers:
8.5 NEC Corporation
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Research & Development Expenses
8.5.5 Recent strategies and developments:
8.5.5.1 Partnerships, Collaborations, and Agreements:
8.5.5.2 Product Launches and Product Expansions:
8.6 ValidSoft Group
8.6.1 Company Overview
8.6.2 Recent strategies and developments:
8.6.2.1 Partnerships, Collaborations, and Agreements:
8.6.2.2 Product Launches and Product Expansions:
8.7 SecurEnvoy Limited (Shearwater Group plc)
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Regional Analysis
8.8 Ping Identity Holding Corp. (Thoma Bravo, L.P.)
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Regional Analysis
8.8.4 Research & Development Expenses
8.8.5 Recent strategies and developments:
8.8.5.1 Partnerships, Collaborations, and Agreements:
8.8.5.2 Product Launches and Product Expansions:
8.8.5.3 Acquisition and Mergers:
8.9 Absolute Software Corporation
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Regional Analysis
8.9.4 Research & Development Expenses
8.9.5 Recent strategies and developments:
8.9.5.1 Acquisition and Mergers:
8.10. Fujitsu Limited
8.10.1 Company Overview
8.10.2 Financial Analysis
8.10.3 Segmental and Regional Analysis
8.10.4 Research & Development Expenses
8.10.5 Recent strategies and developments:
8.10.5.1 Acquisition and Mergers:
TABLE 1 Asia Pacific Advanced Authentication in Financial Services Market, 2018 - 2021, USD Million
TABLE 2 Asia Pacific Advanced Authentication in Financial Services Market, 2022 - 2028, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Advanced Authentication in Financial Services Market
TABLE 4 Product Launches And Product Expansions– Advanced Authentication in Financial Services Market
TABLE 5 Acquisition and Mergers– Advanced Authentication in Financial Services Market
TABLE 6 Asia Pacific Advanced Authentication in Financial Services Market by Type, 2018 - 2021, USD Million
TABLE 7 Asia Pacific Advanced Authentication in Financial Services Market by Type, 2022 - 2028, USD Million
TABLE 8 Asia Pacific Multi-factor Authentication Market by Country, 2018 - 2021, USD Million
TABLE 9 Asia Pacific Multi-factor Authentication Market by Country, 2022 - 2028, USD Million
TABLE 10 Asia Pacific Single-factor Authentication Market by Country, 2018 - 2021, USD Million
TABLE 11 Asia Pacific Single-factor Authentication Market by Country, 2022 - 2028, USD Million
TABLE 12 Asia Pacific Advanced Authentication in Financial Services Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 13 Asia Pacific Advanced Authentication in Financial Services Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 14 Asia Pacific Large Enterprises Market by Country, 2018 - 2021, USD Million
TABLE 15 Asia Pacific Large Enterprises Market by Country, 2022 - 2028, USD Million
TABLE 16 Asia Pacific Small & Medium-sized Enterprises Market by Country, 2018 - 2021, USD Million
TABLE 17 Asia Pacific Small & Medium-sized Enterprises Market by Country, 2022 - 2028, USD Million
TABLE 18 Asia Pacific Advanced Authentication in Financial Services Market by Authentication Method, 2018 - 2021, USD Million
TABLE 19 Asia Pacific Advanced Authentication in Financial Services Market by Authentication Method, 2022 - 2028, USD Million
TABLE 20 Asia Pacific Biometrics Market by Country, 2018 - 2021, USD Million
TABLE 21 Asia Pacific Biometrics Market by Country, 2022 - 2028, USD Million
TABLE 22 Asia Pacific Smart Cards Market by Country, 2018 - 2021, USD Million
TABLE 23 Asia Pacific Smart Cards Market by Country, 2022 - 2028, USD Million
TABLE 24 Asia Pacific Mobile Smart Credentials Market by Country, 2018 - 2021, USD Million
TABLE 25 Asia Pacific Mobile Smart Credentials Market by Country, 2022 - 2028, USD Million
TABLE 26 Asia Pacific Others Market by Country, 2018 - 2021, USD Million
TABLE 27 Asia Pacific Others Market by Country, 2022 - 2028, USD Million
TABLE 28 Asia Pacific Advanced Authentication in Financial Services Market by Country, 2018 - 2021, USD Million
TABLE 29 Asia Pacific Advanced Authentication in Financial Services Market by Country, 2022 - 2028, USD Million
TABLE 30 China Advanced Authentication in Financial Services Market, 2018 - 2021, USD Million
TABLE 31 China Advanced Authentication in Financial Services Market, 2022 - 2028, USD Million
TABLE 32 China Advanced Authentication in Financial Services Market by Type, 2018 - 2021, USD Million
TABLE 33 China Advanced Authentication in Financial Services Market by Type, 2022 - 2028, USD Million
TABLE 34 China Advanced Authentication in Financial Services Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 35 China Advanced Authentication in Financial Services Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 36 China Advanced Authentication in Financial Services Market by Authentication Method, 2018 - 2021, USD Million
TABLE 37 China Advanced Authentication in Financial Services Market by Authentication Method, 2022 - 2028, USD Million
TABLE 38 Japan Advanced Authentication in Financial Services Market, 2018 - 2021, USD Million
TABLE 39 Japan Advanced Authentication in Financial Services Market, 2022 - 2028, USD Million
TABLE 40 Japan Advanced Authentication in Financial Services Market by Type, 2018 - 2021, USD Million
TABLE 41 Japan Advanced Authentication in Financial Services Market by Type, 2022 - 2028, USD Million
TABLE 42 Japan Advanced Authentication in Financial Services Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 43 Japan Advanced Authentication in Financial Services Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 44 Japan Advanced Authentication in Financial Services Market by Authentication Method, 2018 - 2021, USD Million
TABLE 45 Japan Advanced Authentication in Financial Services Market by Authentication Method, 2022 - 2028, USD Million
TABLE 46 India Advanced Authentication in Financial Services Market, 2018 - 2021, USD Million
TABLE 47 India Advanced Authentication in Financial Services Market, 2022 - 2028, USD Million
TABLE 48 India Advanced Authentication in Financial Services Market by Type, 2018 - 2021, USD Million
TABLE 49 India Advanced Authentication in Financial Services Market by Type, 2022 - 2028, USD Million
TABLE 50 India Advanced Authentication in Financial Services Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 51 India Advanced Authentication in Financial Services Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 52 India Advanced Authentication in Financial Services Market by Authentication Method, 2018 - 2021, USD Million
TABLE 53 India Advanced Authentication in Financial Services Market by Authentication Method, 2022 - 2028, USD Million
TABLE 54 South Korea Advanced Authentication in Financial Services Market, 2018 - 2021, USD Million
TABLE 55 South Korea Advanced Authentication in Financial Services Market, 2022 - 2028, USD Million
TABLE 56 South Korea Advanced Authentication in Financial Services Market by Type, 2018 - 2021, USD Million
TABLE 57 South Korea Advanced Authentication in Financial Services Market by Type, 2022 - 2028, USD Million
TABLE 58 South Korea Advanced Authentication in Financial Services Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 59 South Korea Advanced Authentication in Financial Services Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 60 South Korea Advanced Authentication in Financial Services Market by Authentication Method, 2018 - 2021, USD Million
TABLE 61 South Korea Advanced Authentication in Financial Services Market by Authentication Method, 2022 - 2028, USD Million
TABLE 62 Singapore Advanced Authentication in Financial Services Market, 2018 - 2021, USD Million
TABLE 63 Singapore Advanced Authentication in Financial Services Market, 2022 - 2028, USD Million
TABLE 64 Singapore Advanced Authentication in Financial Services Market by Type, 2018 - 2021, USD Million
TABLE 65 Singapore Advanced Authentication in Financial Services Market by Type, 2022 - 2028, USD Million
TABLE 66 Singapore Advanced Authentication in Financial Services Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 67 Singapore Advanced Authentication in Financial Services Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 68 Singapore Advanced Authentication in Financial Services Market by Authentication Method, 2018 - 2021, USD Million
TABLE 69 Singapore Advanced Authentication in Financial Services Market by Authentication Method, 2022 - 2028, USD Million
TABLE 70 Malaysia Advanced Authentication in Financial Services Market, 2018 - 2021, USD Million
TABLE 71 Malaysia Advanced Authentication in Financial Services Market, 2022 - 2028, USD Million
TABLE 72 Malaysia Advanced Authentication in Financial Services Market by Type, 2018 - 2021, USD Million
TABLE 73 Malaysia Advanced Authentication in Financial Services Market by Type, 2022 - 2028, USD Million
TABLE 74 Malaysia Advanced Authentication in Financial Services Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 75 Malaysia Advanced Authentication in Financial Services Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 76 Malaysia Advanced Authentication in Financial Services Market by Authentication Method, 2018 - 2021, USD Million
TABLE 77 Malaysia Advanced Authentication in Financial Services Market by Authentication Method, 2022 - 2028, USD Million
TABLE 78 Rest of Asia Pacific Advanced Authentication in Financial Services Market, 2018 - 2021, USD Million
TABLE 79 Rest of Asia Pacific Advanced Authentication in Financial Services Market, 2022 - 2028, USD Million
TABLE 80 Rest of Asia Pacific Advanced Authentication in Financial Services Market by Type, 2018 - 2021, USD Million
TABLE 81 Rest of Asia Pacific Advanced Authentication in Financial Services Market by Type, 2022 - 2028, USD Million
TABLE 82 Rest of Asia Pacific Advanced Authentication in Financial Services Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 83 Rest of Asia Pacific Advanced Authentication in Financial Services Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 84 Rest of Asia Pacific Advanced Authentication in Financial Services Market by Authentication Method, 2018 - 2021, USD Million
TABLE 85 Rest of Asia Pacific Advanced Authentication in Financial Services Market by Authentication Method, 2022 - 2028, USD Million
TABLE 86 Key Information – Broadcom, Inc.
TABLE 87 Key Information – Dell Technologies, Inc.
TABLE 88 key Information – Mastercard, Inc.
TABLE 89 key information – Thales Group S.A.
TABLE 90 KEY INFORMATION – NEC Corporation
TABLE 91 Key Information – ValidSoft Group
TABLE 92 key Information – SecurEnvoy Limited
TABLE 93 Key information – Ping Identity Holding Corp.
TABLE 94 Key Information – Absolute Software Corporation
TABLE 95 Key Information – Fujitsu Limited
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Market Share Analysis, 2021
FIG 4 Key Leading Strategies: Percentage Distribution (2018-2022)
FIG 5 Key Strategic Move: (Acquisition and Mergers: 2019, Apr – 2023, Mar) Leading Players
FIG 6 SWOT Analysis: Broadcom, Inc.
FIG 7 SWOT Analysis: Dell Technologies, Inc.
FIG 8 Recent strategies and developments: Mastercard, Inc.
FIG 9 Recent strategies and developments: Thales Group S.A.
FIG 10 Recent strategies and developments: Ping Identity Holding Corp.