Published Date: 20-Jan-2023
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According to a new report, published by KBV research, The Global 3D Secure Payment Authentication Market size is expected to reach $2 billion by 2028, rising at a market growth of 11.6% CAGR during the forecast period.
The Banks segment acquired maximum revenue share in the Global 3D Secure Payment Authentication Market by Application in 2021 thereby, achieving a market value of $1.2 billion by 2028. The segment's expansion can be ascribed to the banking industry's growing digitalization. The necessity for fraud protection in the banking industry is increasing as the adoption of digital banking and online card transactions increases. Additionally, 3D secure payment authentication gives banks access to consumer transaction history, behavioral history, and device information.
The Access Control Server segment is showcasing a CAGR of 11.8% during (2022 - 2028). Issuing banks process cardholder authentication needs using the access control server. A rise in the demand for identity verification during the processing of digital transactions as a result of an increase in identity fraud is one aspect that can be expected to contribute to the expansion of the access control segment.
The North America market dominated the Global 3D Secure Payment Authentication Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $680.2 million by 2028. The Asia Pacific market is experiencing a CAGR of 12.4% during (2022 - 2028). Additionally, The Europe market would display a CAGR of 11.4% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Mastercard, Inc., Broadcom, Inc. (CA Technologies, Inc.), American Express Company, Visa, Inc., Bluefin Payment Systems LLC, Decta Limited, GPayments Pty Ltd. (Neurocom Group), Modirum, JCB Co., Ltd., and RSA Security LLC (Symphony Technology Group)
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