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April 2018
Authentication and Identity Management
Sectorwatch
With cybersecurity-related incidents on the rise, advanced authentication technologies will continue to evolve. The need to fight fraud and data breaches has become more important with the growth of online and mobile banking, mobile payments and wallets. Multi-factor authentication with multiple layers of defense are critical to minimizing the threat of hackers.
According to Technavio research, the global multi-factor authentication market is projected to grow at a CAGR of almost 23% between 2017 and 2021 while the global multi-factor authentication market in the banking and financial sector was valued at $2.4 billion in 2016.
Industry Trends:
- Current revenue growth rate exceeds the average of the last 3 years, indicating that market momentum is increasing
- Current gross profit margin exceeds the average of the last 3 years gross profit margin, indicating supplier pricing power
- Current EBITDA margin is less than the average of the last 3 years EBITDA margins, which may signal further consolidation
