Overview of the global two-factor authentication (2FA) market
Technavio’s market research analyst predicts the global two-factor authentication (2FA) market to grow steadily at a CAGR of around 24% by 2021. One of the major drivers contributing to this market growth is the exponential rise in the volume of online transactions. An increasing number of consumers have started depending on internet for transactions. This has increased the frequency of cyber-attacks, especially on websites where online transactions are significantly high. Hackers target lucrative sectors that have a huge online customer base. To counter these cyber-attacks, organizations have started implementing authentication methods such hardware one-time passwords (OTP) tokens, software OTP tokens, e-mail, and phone-based authentication to make online transactions more secure. Moreover, the availability of 3G and 4G devices will further boost online transactions, leading to the increased adoption of 2FA.
One of the latest trends gaining traction in this market is the development of cloud-based 2FA. The high maintenance cost for hardware and software-based two-factor and three-factor authentication models, has created a demand for cloud-based 2FA solutions. Factors like pay-per-use, improved reliability and scalability, easy installation and upgrading, less dependency on internal IT personnel, and zero maintenance costs compel organizations to adopt cloud based 2FA solutions. It ensures secure access to networks and
Overview of the global security information and event management market
Technavio’s market research analyst predicts the global security information and event management market to grow at a CAGR of more than 12% by 2021. Enterprises across the world have been increasingly implementing private cloud data centers and advanced technologies such as virtualization, which have increased security and compliance risks, leading to losing control over their data and systems. This has led to unauthorized access to networks and resources, causing serious disruption of business operations, affecting brand loyalty and causing financial loss. Such threats have prompted organizations to strengthen their security to manage their business operations efficiently through the adoption of SIEM solutions for maintaining the security of business operations. SIEM solutions also mitigate network threats and aid IT administrators to recognize such network risks timely by using techniques such as anomaly patterns, which is the correlation of data from multiple devices. With the growing inclination towards data theft and identity fraud and subsequent tightening of compliance regulations, the overall market for SIEM solutions will grow significantly in the coming years.
Geographically, North America is the largest revenue generating region in the global market and occupied the biggest market share in 2016. The growing dependence on Internet and digital technologies have led to high vulnerability to cyber-attacks, especially in the government and financial sectors. The rapid rise in the number of security breaches and cyber-attacks across various industry verticals such as government, retail, and BFSI, has
Overview of the global lawful interception market
Technavio’s market research analyst predicts the global lawful interception market to grow steadily at a CAGR of above 24% by 2021. One of the primary drivers for this market is the rapid rate of advances in the communication channels. Advances in communication channels such as VoIP, web-traffic and e-mail, and technologies such as LTE, WiMAX, and WLAN, have expedited the need for a lawful interception to mitigate terrorist and criminal activities. These technologies such as 4G/LTE, WiMAX, and WLAN intercept the networks that deliver voice, data, and Internet services. Also, governments across the globe are coming up with mandatory regulations where law enforcement agencies demand that the service providers deliver public switched telephone network (PSTN) with lawful intercept capabilities in the IP networks. The rising complexities of communication environment such as wired and wireless communication will propel the growth for lawful interception solutions over the next few years.
One of the latest trends gaining traction in this market is the introduction of next-generation networks (NGN). NGNs carry all types of services such as voice, video, and e-mail on a common platform or a single packet-based network. They are noted to be more versatile than traditional networks because there is no need to upgrade these new services. Such major developments in the communication industry have increased the need for new security platforms and architecture for lawful interception. The increasing rate of the shift from circuit-
Outlook of the global mass transit security market
Technavio’s market research analyst predicts the global mass transit security market to grow steadily at a CAGR of around 9% by 2021. One of the major drivers responsible for this growth is the increasing need for public safety. A constant rise in the crime rate and an ever-increasing number of criminal attacks has raised awareness of security among local and federal governments. For instance, in August 2015, a heavily armed man attacked commuters on a train in France. Such terror attacks are increasing worldwide, and corrective methods are being taken especially in mass transit locations such as bus stops, railway stations, airports, and marine ports. Since catastrophic attacks can lead to irreparable losses, transit security systems are helpful in monitoring and scanning people and their luggage. Also law enforcement agents are expected to take precautionary measures to avoid such incidences.
The rising number of terrorist attacks has led to an increase in the demand for chip-embedded passports, also known as e-passports. With the rising number of cross-border travelers, the need for a better passport authentication method has become a priority for authorities across the globe. E-passports are embedded with smart chips that generate a unique code for the identification of the user. These codes are difficult to decode or forge, making e-passports more reliable than traditional paper booklets. The adoption of e-passports is rapidly increasing in European countries such as Finland, the Netherlands, Germany, France, Poland, Greece, and Macedonia.
Competitive landscape and key vendors
The mass transit security systems market is highly fragmented due to the presence of many small and large vendors. As the market is gaining traction and is expected to grow over the forecast period, many new players are entering the market. To
Overview of the global e-mail encryption market
Market research analysts at Technavio predict that the global e-mail encryption market will grow steadily during the next four years and post a CAGR of almost 12% by 2021. This market research analysis identifies the rise in adoption of cloud-based services as one of the primary growth factors for this market. Due to benefits such as pay-per-use model, several organizations, especially the small- and medium-sized businesses are increasingly preferring cloud based services. This in turn, will increase the need for email encryption solutions to secure confidential data.
In terms of geographical regions, the Americas will be the major revenue contributor to the market throughout the predicted period. The region is one of the early adopters of advanced technologies. The increasing incidences of insider frauds in several organizations will drive the market’s growth prospects.
Competitive landscape and key vendors
This market is characterized by the presence several multinational vendors and small regional players and appears to be fragmented. To increase their market shares and enhance their product portfolio, the well-established email encryption providers will start acquiring small players. To sustain the competitive environment and improve their market positions, vendors have the need to distinguish their offerings through unique selling propositions.
The leading vendors in the market are -
- Cisco Systems
- Trend Micro
The other prominent vendors in the market are Cryptzone, DataMotion, Echoworx, Egress Software Technologies, Entrust, Greenview Data, HPE, McAfee, Microsoft, Sophos, Virtru, and
Overview of the global maritime security market
The global maritime security market is anticipated to grow at a steady rate and will post a CAGR of more than 6% during the forecast period. The increasing trend of international trade by sea will drive the growth prospects for the global maritime security market during the forecast period. According to Technavio, more than 80% of world trade is carried by the international shipping industry. Some of the major factors that are responsible for the growth of seaborne trade includes the increasing industrialization, liberalization of national economies, and growing demand for consumer products. Another factor that drives the market’s growth is the increasing worldwide population due to which the demand for goods and raw materials increase in the emerging economies. Furthermore, a greater proportion of world trade depends on ship transport because it is the most fuel-efficient and carbon-friendly form of commercial transport. Also, with the increasing growth of the global economy, seaborne trade is also increasing. Moreover, with the rapid increase in the global seaborne trade traffic, the demand for maritime security to provide continuous real-time surveillance of harbor and ports and tracking and tracing information of vessels during the journey has increased.
The rising introduction of new technologies will fuel the growth prospects for the global maritime security market until the end of 2020. With the advent of improved phased-array radars, the devices can now monitor multiple directions simultaneously, which is a major advantage compared to conventional systems. Also, when this radar is placed on satellites, they can perform environmental monitoring and spy missions from the orbit.
Competitive landscape and key vendors
The market is highly fragmented due to the presence of many small regional vendors and large
With the volume of sensitive data being generated each day increasing exponentially, it is necessary to have safeguards in place to protect information from unauthorized access. In this respect, there are numerous cyber security tools available on the market that are designed to protect information; anti-virus software is one example.