Europe 3D Secure Authentication Market
The countries analyzed while estimating the 3D secure authentication market in Europe include France, Germany, Italy, the UK, and Russia. The European population is exceptionally tech-savvy and adopts newer technologies quickly. The authentication technology in European countries has a long-standing experience. The region is witnessing growth in online payment modes, which would help in fostering the growth of 3D secure authentication. As the consumers are transacting more on online marketplaces, there is an increase in adoption of eWallet apps and peer-to-peer payment. These apps have gained popularity in Europe and are obtaining significance in other regions like the US and Asian countries. With the growing adoption of online payment methods, digital frauds would also increase, which is creating the demand for authentication technology. Moreover, in the region, the Payment Services Directive 2 protects the consumers from unauthorized online payments made through their debit/credit card. The enforcement of PSD2 Strong Customer Authentication requirements began on December 31, 2020, in many European countries. Such directives for the merchants operating in Europe economic zone should utilize payment service providers within the European Economic Area which offers strong customer authentication. These regulations will help in promoting the adoption of 3D secure authentication technology.
The COVID-19 pandemic in Europe has had a diverse impact on various nations, since only a few nations have seen an increase in the number of cases, resulting in stringent, long-term lockdown periods or social isolation standards. In 2019, the e-commerce market of B2C in Europe was majorly dominated by the UK, France, Sweden, Germany, and Russia. The customers of the UK have spent around € 200 billion on online purchases, which is roughly double of French counterparts. This growth in 2020 has also continued for medical, food, and other essential supplies. Increase in e-commerce order will help in boosting the adoption of authentication technology.
Strategic insights for the Europe 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$ 177.10 Million |
| Market Size by 2028 | US$ 374.75 Million |
| Global CAGR (2021 - 2028) | 11.3% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe 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 Europe is expected to grow from US$ 177.10 million in 2021 to US$ 374.75 million by 2028; it is estimated to grow at a CAGR of 11.3% from 2021 to 2028. presence of companies offering 3D secure authentication technology in European economies is another factor assisting in the market growth. For instance, Netcetera—a Switzerland based company—has obtained an EMVCo Letter of Approval for their 3D Secure Server. The merchants and acquirers can now utilize Netcetera’s product to enroll in 3DS 2.0 platforms of all the credit card schemes. Also, in August 2020, Netcetera partnered with Mastercard to assist merchants get ready for EMV 3DS 2.x requirements and Mastercard Identity Check program. The test program would run on a Netcetera 3DS Access Control Server certified to the latest 3DS 2.2 standard. Such developments that allow the merchants to run tests in live online shops would help in promoting the use of 3D secure authentication technology.
The Europe 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.
A few major primary and secondary sources referred to for preparing this report on the 3D secure authentication market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are ASEE Group; GPayments Pvt. Ltd.; Modirum; mSignia, Inc; Netcetera; Ravelin Technology Ltd; RS Software; and UL, LLC.
The Europe 3D Secure Authentication Market is valued at US$ 177.10 Million in 2021, it is projected to reach US$ 374.75 Million by 2028.
As per our report Europe 3D Secure Authentication Market, the market size is valued at US$ 177.10 Million in 2021, projecting it to reach US$ 374.75 Million by 2028. This translates to a CAGR of approximately 11.3% during the forecast period.
The Europe 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 Europe 3D Secure Authentication Market report:
The Europe 3D Secure Authentication Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe 3D Secure Authentication Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe 3D Secure Authentication Market value chain can benefit from the information contained in a comprehensive market report.
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