In terms of revenue, the global 3D secure authentication market was valued at US$ 557. 9 million in 2020 and is projected to reach US$ 1,303. 5 million by 2028; it is expected to grow at a CAGR of 11. 4% from 2021 to 2028.
New York, July 30, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "3D Secure Authentication Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component and End-User" - https://www.reportlinker.com/p06124428/?utm_source=GNW
3D Secure (3DS) is commonly known by branded names such as MasterCard Identity Check, Visa Secure, Diners Club ProtectBuy, and American Express SafeKey. This authentication technology needs customers to complete an additional step of authentication with their card issuer bank in the course of making a payment. The technology protects the end user from fraud and other illegal activities while making payments highly secure. Globally, the penetration of 3D secure authentication is boosting with an aim to mitigate fraud and make online shopping safer. This increase urges the regions to adopt this technology. For instance, in Europe, a strong customer authentication regulation is needed to use 3D secure for the card payments. Although 3D Secure authentication technology is optional in majority regions across the world, nevertheless it can still be used as a method to control fraud.
The global 3D secure authentication market is segmented based on component and end user.Based on component, market is segmented into solution and services.
The solution segment led the 3D secure authentication market in 2020.In terms of end user, the market is segmented into banks and merchant and payment processor.
The merchant and payment processor segment led the end user segment.The global 3D secure authentication market is segmented into five major regions—North America, Europe, APAC, the MEA, and SAM.
North America led the 3D secure authentication market in 2020.
Due to the COVID-19 outbreak and subsequent surge in e-commerce sales, the fraud trends have significantly increased.To curb this, payment service providers (PSPs), merchants, and banks are readily adopting 3D secure authentication framework, which, in turn is fueling the growth of the 3D secure authentication market.
Besides, the emergence of COVID-19 pandemic has resulted into rise in digital transformation across banks, enabling the customers to make payments online.This factor is causing a fruitful result in online payment modes, and it will increase the penetration of authentication technology.
The rising inclination toward digital solution in banking creates a great opportunity for the market to enhance and promote authentication technology at a higher rate.
The overall 3D secure authentication market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the 3D secure authentication market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the 3D secure authentication market.Netcetera, GPayments Pvt.
Ltd.; ASEE Group; AsiaPay Limited; Modirum; mSignia, Inc; Ravelin Technology Ltd; RS Software; UL, LLC; and iZealiant Technologies Pvt. Ltd are among the key players operating in the market.
Read the full report: https://www.reportlinker.com/p06124428/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001