3D Secure Authentication Market is expected to reach US$ 1,303.5 million by 2028

The 3D secure authentication market size is expected to reach US$ 1,303.5 million by 2028, registering at a CAGR of 11.4% from 2021 to 2028, according to a new research study conducted by The Insight Partners.

Stupendous Growth in Asian Market to Provide Growth Opportunities for 3D Secure Authentication Market

The Asian economy is witnessing an increase in adoption of 3D secure authentication technology, owing to high usage of online shopping portals. Countries such as China, India, Japan, and Singapore are adopting authentication technology within their territories. The rising demand for digital transformation in banks has led to an increase in use of 3D secure authentication in Asia. In the Asian market, introduction of real-time payments has resulted into drastic rise in payment fraud, with four in five APAC banks experiencing increase in losses, as per the results from Fico survey in January 2020, it has been forecasted that fraud cases will increase significantly in coming year with rising online transactions. Moreover, regulatory changes and individuals aimed at facilitating adoption of open banking are also resulting into digital banking fraud. Factors mentioned above are predicted to generate lucrative growth opportunities for the adoption of 3D secure authentication technology.

The 3D secure authentication market is segmented based on component, end-user, and geography. Based on component, the market is bifurcated into solution and services. The solution segment represented a larger share of the overall market in 2020. In terms of end user, the market is segmented into banks and merchant and payment processor. In 2020, the merchant and payment processor segment accounted for the substantial share of the market. Geographically, North America held the largest share of the 3D Secure Authentication market in 2020, followed by Europe and APAC.

Impact of COVID-19 Pandemic on 3D Secure Authentication Market

North America is known for having the highest rate of advanced technology adoption due to favorable government policies that foster innovation and enhance internet infrastructure. As a result, every factor affecting the region's industrial performance obstructs its economic development. In 2020, the US has become the world's worst-affected country as a result of the COVID-19 outbreak, causing governments to impose a number of limitations on businesses in the country in an attempt to contain the disease's spread. However, the closure of businesses and public activities has not created a direct impact on the market, as during the pandemic, the adoption of e-commerce channel has been boosted significantly, leading to increase in online payment modes.

3D Secure Authentication Market – by Geography, 2020

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3D Secure Authentication Market Share & Size | Forecast 2028

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3D Secure Authentication Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Solution and Services) and End-User (Banks and Merchant and Payment Processor)

The report segments the global 3D secure authentication market as follows:

By Component

• Solution
• Services

By End User

• Banks
• Merchant and Payment Processor

By Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • Italy
  • UK
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • South Korea
  • Japan
  • Australia
  • Rest of APAC
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE
  • Rest of MEA
• South and Central America
  • Brazil
  • Argentina
  • Rest of SAM

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