Asia Pacific 3D Secure Authentication Market
No. of Pages: 94 | Report Code: TIPRE00024098 | Category: Technology, Media and Telecommunications
No. of Pages: 94 | Report Code: TIPRE00024098 | Category: Technology, Media and Telecommunications
The countries analyzed include China, India, Japan, South Korea, and Australia. These countries have been showcasing tremendous growth in their e-commerce and banking sector. Technological advancements and adoption rate has soared up significantly in these countries. A substantial percentage of the population in the respective countries mentioned above has started the use of card-based payment to enhance the digitalization in the country. Owing to the need to enter card details online, the demand for better security while making online payment has ascended steeply. This, in turn, has led to the development and adoption of authentication technology, thereby boosting the growth of the 3D secure authentication market. The surge in digitalization in the banking sector in the APAC region has led to a rise in the availability of debit cards and credit cards. The easy obtainability of these cards has enabled a significant fraction of the population to use card details for online transactions, which has led to a rise in the adoption of online payments. In addition to growth in online payments, owing to availability of cards and ease of online payment portals, the presence of companies offering authentication technology also plays a significant role.
The COVID-19 pandemic has severely impacted APAC due to the wide spread of novel coronavirus. The region has highly populated countries, which leads to the greater risk of the spread. According to the Organization for Economic Co-operation and Development (OECD), the pandemic has affected major economies such as China, India, Australia, and Japan, which are experiencing inflation. India is the worst-hit country in this region due to the pandemic. In Asian economy, the e-commerce and m-commerce sales are increasing drastically in the wake of the COVID-19 pandemic. Countries such as Singapore, India, and China have observed a positive trend in the penetration of e-commerce channels. Owing to the rise in the e-commerce orders due to the increasing COVID-19 confirmed cases, the online payments have increased drastically, which eventually propelled the adoption of 3D authentication technology.
Strategic insights for the Asia Pacific 3D Secure Authentication provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 103.06 Million |
| Market Size by 2028 | US$ 245.18 Million |
| Global CAGR (2021 - 2028) | 13.2% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia Pacific 3D Secure Authentication refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The 3D secure authentication market in APAC is expected to grow from US$ 103.06 million in 2021 to US$ 245.18 million by 2028; it is estimated to grow at a CAGR of 13.2% from 2021 to 2028. Due to the occurrence of pandemic, the e-commerce market in Asian countries has seen a growth. Moreover, owing to digitalization, majority of businesses are getting inclined toward online method and consumers into e-commerce channel. Therefore, companies such as Netcetera, are looking forward to make full utilization of 2.0 version in order to assist merchants, payment services providers, and acquirers in decreasing transaction abandonments while enhancing overall shopping experience. Presence of major companies and growth in online payment due to rising number of e-commerce orders are projected to drive the adoption of authentication technology, thereby boosting the market growth.
The APAC 3D secure authentication market is segmented into component and end user. Based on component, the 3D secure authentication is segmented into solution and services. The solution segment dominated the 3D secure authentication market growth in 2020. With growing online frauds while making online payments, the penetration of 3D secure authentication solution will rise. Based on end-user, the 3D secure authentication is segmented into banks, merchants & payment processor. As merchants banks are the prominent end user of 3D secure authentication technology, the merchant & payment processor dominated the market growth in 2020. Based on country, the APAC 3D secure authentication market is segmented into Australia, China, India, Japan, and South Korea.
A few major primary and secondary sources referred to for preparing this report on the 3D secure authentication market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are AsiaPay Limited; GPayments Pvt. Ltd.; iZealiant Technologies Pvt. Ltd.; Modirum; Netcetera; Ravelin Technology Ltd; RS Software; and UL, LLC.
The Asia Pacific 3D Secure Authentication Market is valued at US$ 103.06 Million in 2021, it is projected to reach US$ 245.18 Million by 2028.
As per our report Asia Pacific 3D Secure Authentication Market, the market size is valued at US$ 103.06 Million in 2021, projecting it to reach US$ 245.18 Million by 2028. This translates to a CAGR of approximately 13.2% during the forecast period.
The Asia Pacific 3D Secure Authentication Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific 3D Secure Authentication Market report:
The Asia Pacific 3D Secure Authentication Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific 3D Secure Authentication Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific 3D Secure Authentication Market value chain can benefit from the information contained in a comprehensive market report.
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