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Extensive research carried out by the analysts at Technavio has shown that the global mobile identity management market will grow progressively and post a CAGR of more than 9% over the forecast period. With increasing access to the high-speed internet with 3G and 4G networks, the market for mobile identity management is anticipated to have a positive outlook in the coming years. In developed countries, mobile operators are investing heavily to expand 3G and 4G networks. The mobile operators are offering high-speed mobile broadband services that have enabled the consumers to use bandwidth-intensive applications. Moreover, high-speed internet services increase security issues for individual customers, and they need more effective mobile security solutions to avoid internet-centric malware attacks.
Multi-factor authentication is a verification model that uses two or more different authentication methods and acts as an additional security layer to help prevent unauthorized access to financial details of customers. The increasing adoption of multi-factor authentication is one of the significant factors likely to propel this market’s growth prospects in the coming years. Multi-factor authentication solutions use several authentication techniques including smart cards, phone-based authentication, and biometrics technologies to authenticate payment transactions on mobile devices. For instance, fingerprint biometrics technology can be used with phone-based authentication and smart card-based authentication to authenticate an individual for mobile payments. Also, multi-factor authentication does not require the installation of any hardware. Furthermore, advances in technology have led to the introduction of many devices, such as personal digital assistants, wireless computers, and smartphone with access to distributed applications. Such devices have a weak password authentication system. To overcome this, multi-factor authentication solutions are increasingly being used for secure mobile payments.
The global mobile identity management market is highly competitive owing to the presence of several well-established international and regional vendors. The competition in the market is likely to intensify further with an increase in solution extensions, technological innovations, and M&As. Vendors with better technical and financial resources can develop advanced products, which can render competitors' products obsolete and non-competitive even before they are launched. To remain competitive, vendors have to develop new technologies and also stay abreast with the emerging technologies that can affect their product lines.
Key vendors in this market are -
Other prominent vendors in the mobile identity management market include Bitdefender, BullGuard, Cisco, Fortinet, F-Secure, Juniper Networks, NetiQ, Quick Heal, Sophos, Trend Micro, Telstra, and Telesign.
In terms of geography, the Americas led the global mobile identity management market and accounted around 44% of the revenue market shares during 2015. Brazil, Mexico, the US, and Argentina are the major contributors to the growth of the mobile identity management market in the Americas because of the growing number of mobile and social media users in these countries. Moreover, it has been observed that nearly 12% of American workers allowed their colleagues to use their mobile that can access their employer’s network, which increases the risk of cyber-attacks. This is expected to result in an augmented demand for mobile security solutions in the Americas by 2020.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market overview
PART 06: Recent developments
PART 07: Cyberattacks: mobile security
PART 08: Market size and forecast
PART 09: Geographical segmentation
PART 10: Market drivers
PART 11: Impact of drivers
PART 12: Market challenges
PART 13: Impact of drivers and challenges
PART 14: Market trends
PART 15: Impact of trends
PART 16: Market attractiveness
PART 17: Buying criteria
PART 18: Five forces analysis
PART 19: Vendor landscape
PART 20: Key vendor profiles
PART 21: Appendix
PART 22: Explore Technavio
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