LONDON--(EON: Enhanced Online News)--Technavio has published three reports, including mobile identity management, runtime application self-protection (RASP) security, and out of band (OOB) authentication software, categorized under the ICT sector. The reports highlight the major market trends, drivers, challenges, and several other factors that are expected to change market dynamics during the forecast period.
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Global Mobile Identity Management Market 2016-2020
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The global mobile identity management market is expected to witness a progressive growth and will 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.
Global Runtime Application Self-Protection Security Market 2016-2020
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Technavio’s research analysts have projected that the global runtime application self-protection (RASP) security market will grow tremendously during the predicted period and post a CAGR of around 44% by 2020. The increasing need to improve the quality of security is one of the primary factors driving this market’s growth. It is becoming exceedingly difficult for organizations to detect advanced network attacks, especially the ones that directly target application for data thefts. Moreover, most companies use complex web applications for their everyday business processes, which has greatly boosted the demand for advanced security solutions. Additionally, the volume of data in organizations including records, web-log files, and social networks is growing significantly. As financial assets mostly exist in the form of digitized information, organizations in the BFSI sector require RASP security solutions to prevent fraud and unauthorized payments and to track the large volumes of data generated efficiently.
Global Out Of Band Authentication Software Market 2016-2020
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Extensive research carried out by the analysts at Technavio has shown that the global out of band (OOB) authentication software market will grow steadily during the next four years and will post an impressive CAGR of almost 24% by 2020. This market research analysis identifies the increase in number of online transactions as one of the primary growth factors for this market. Though online financial transactions are easy and instant, financial institutions are always prone threats such as cyber-attacks. Hence, organizations have started using authentication techniques using hardware OTP tokens, e-mail, and phone-based authentication methods to make online transactions more secure. Also, mobile operators are offering high-speed mobile broadband services that allow users to use mobile transaction features, which in turn, results in a rise in the number of online transactions, leading to the increased adoption of OOB authentication software.
Browse Related Reports:
- Global Advanced Authentication Market 2016-2020
- Global Multi-factor Authentication Market 2016-2020
- Global Hardware OTP Token Authentication Market 2016-2020
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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