Passiveauthentication solutions have been adopted by several companies across theglobe to counter the growing need for the frictionless authentication amongorganizations. The increasing adoption of passive authentication solutionshelps organizations adhere to the increasing government compliance and deliverenhanced user experience, which drives the passive authentication marketgrowth. The strategic partnership, collaborations, and agreements is animportant growth strategy adopted by the key market players to develop newservices and gain traction in the passive authentication market.MarketsandMarkets expects the passive authentication market to grow from USD492.8 Million in 2018 to USD 1,535.0 Million by 2023, at a Compound AnnualGrowth Rate (CAGR) of 25.5% during the forecast period.
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The major vendors of the passive authenticationmarket include Aware (US), BehavioSec (US), BioCatch (Israel), Cisco (US),Early Warning (US), Equifax (US), Experian (Ireland), FacePhi (Spain), FICO(US), Gemalto (Netherlands), IDology (US), IBM (US), Jumio(US), LexisNexis (US), NEC (Japan), NuanceCommunications (US), NuData Security (Canada), Pindrop (US), RSA Security (US),SecuredTouch (Israel), Trust Stamp (US), TypingDNA (Romania), VASCO (US),Veridium (US), and Verint (US). These players have adopted various growthstrategies, such as partnerships, collaborations, and agreements; mergers andacquisitions; and new product developments, to grow in the passiveauthentication market.
NEC has a significant presence in the market andaspires to become the top market provider of passive authentication solutionsby constant investments in R&D capabilities. In February 2018, NEC enhancedNeoFace Access Control, a facial recognition product that helps organizationsauthenticate users at entry and exit points. In April 2017, NEC launchedNC7000-3A, a user data utilization platform software that uses the facialrecognition software. Moreover, this platform ensures the security of data onmobile devices, and complies with the Fast Identity Online (FIDO) industrystandards for authentication.
Gemaltois another top player in the passive authentication market. The companydelivers software and other technologies to businesses and governments thathelp them authenticate identities and protect data. In May 2017, Gemaltopartnered with Enfuce, a Finland-based financial services provider, to offercost-effective, convenient, and strong customer authentication using mobiledevices. This partnership helped Gemalto leverage its Authentication-as-a-Service (AaaS) in the Nordicregion.
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