Phone-based Authentication Solutions Market Key Players, Trends, Growth Opportunities and Industry Forecast till 2025
“The growing demand for advanced security solutions and rising incidences of burglary and terrorist attacks are propelling the growth of the market over the forecast period.�
The global phone-based authentication solutions market is expected to grow at a significant CAGR of 23.8% over the forecast period due to the higher market penetration of smartphones and increasing incidences related to theft. Stringent laws & regulations by regional governments to mandate the adoption of identification technologies for citizens, employees and foreign nationals in order to enhance national security are expected to favor market growth over the forecast period. The growing demand for advanced security solutions and rising incidences of burglary and terrorist attack s are propelling the growth of the market over the forecast period. Additionally, numerous collaborative efforts are undertaken various government to improve security in response to the threat of terrorism over public safety, thereby fostering the market demand for advanced security solutions in the past few years. Globally, the market is predicted to generate massive revenue over next five years, providing numerous opportunities for market players to invest for research and development in the phone -based authentication solutions market. Introduction of remote service management and varied wireless technologies are anticipated to boost market growth over the coming years. Increasing adoption of biometric security services such as fingerprint recognition and face recognition systems to provide secured financial transactions are anticipated fuel the growth of phone-based authentication solutions market over the next seven years. Increase in the number of connected devices across the globe is predicted to stimulate industry expansion in the upcoming years.