North America 3D Secure Authentication Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Solution and Services) and End User (Banks and Merchant & Payment Processor)
The 3D secure authentication market in North America is expected to grow from US$ 267.57 million in 2021 to US$ 567.70 million by 2028; it is estimated to grow at a CAGR of 10.8% from 2021 to 2028.
Market Introduction
The US, Canada, and Mexico are the major economies in North America. Technological advancements have led to a highly competitive market in the region as population is getting attracted toward digital technologies. With the rise in demand for card-based payment in the region, several companies are engaged in developing authentication technology for both merchants and banks. With the rising adoption of digital technologies for making payments, the implementation of authentication technologies is increasing. Significant innovations in online banking through digital technologies improve customer’s personal banking experience, while commercial banking is pressurized to catch up. The increasing demand for advanced technologies for making payments faster, safer, and smooth is driving the market in North America. The development of such a mechanism is attracting a significant percentage of end users, which is influencing the growth of the 3D secure authentication market. Apart from improving transaction process, the authentication technology also enhances the security. By using Two-Factor Authentication, the technology makes transaction more secure and highly compliant with new Payment Service Directives requirements. For the multinational firms operating in the US, which are conducting their business with European customers, it is projected that 3DS2 adoption will grow as the US is experiencing success in Europe post 3DS2 use. Also, Visa has pioneered original 3D secure protocol with a motive to safeguard e-commerce transactions by giving an extra layer of identity verification before authorization. Growth in e-commerce platform with online shopping is becoming an ideal way of shopping for populous, which is acting as one of the prominent factors for the market growth.
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. However, in 2020, the US has become the world's worst-affected country because of the COVID-19 outbreak, causing governments to impose several limitations on business in the country to contain the disease's spread. On the upside down, the closure of businesses and public activities has not created a direct impact on the market, as during pandemic, adoption of e-commerce channel has been boosted significantly which led to increase in online payment modes.
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Market Overview and Dynamics
Secure 1.0 has brought additional security; however, it resulted into bad user experience and has costed US$ 1.2 billion in declined card-not-present transactions annually. Therefore, 3D Secure 2.0 has been developed to resolve issues related to decline card and failed transactions. 3D Secure 2.0 is a robust authentication protocol developed around smart mobile phones and modern trends. With the European payment services directive being active from 2019, the card schemes and merchants have started to support updated version of 3D Secure. 3DS2 brings improved user experience with greater security.
Key Market Segments
The North America 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.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the 3D secure authentication market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are GPayments Pvt. Ltd.; Modirum; mSignia, Inc; Netcetera; Ravelin Technology Ltd; RS Software; and UL, LLC.
Reasons to buy report
- To understand the North America 3D secure authentication market landscape and identify market segments that are most likely to guarantee a strong return.
- Stay ahead of the race by comprehending the ever-changing competitive landscape for North America 3D secure authentication market.
- Efficiently plan M&A and partnership deals in North America 3D secure authentication market by identifying market segments with the most promising probable sales.
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America 3D secure authentication market.
- Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.
North America 3D Secure Authentication Market Segmentation
North America 3D Secure Authentication Market - By Component
- Solution
- Services
North America 3D Secure Authentication Market - By End User
- Unmanned Self-Service Automated Tollbooth Collection System
- Unmanned Automated Toll Booth Collection System
- Unmanned Wireless Automated Toll Booth Collection System
North America 3D Secure Authentication Market - By Country
- US
- Canada
- Mexico
North America 3D Secure Authentication Market - Company Profiles
- GPayments Pvt. Ltd.
- Modirum
- mSignia, Inc
- Netcetera
- Ravelin Technology Ltd
- RS Software
- UL, LLC
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America 3D Secure Authentication Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America 3D Secure Authentication Market – Key Market Dynamics
5.1 Key Market Drivers
5.1.1 North America Witnessing Growth in E-Commerce Platforms
5.1.1 Rising Online Payment Related Frauds
5.2 Key Market Restraints
5.2.1 Possibility of Data Breach
5.3 Future Trends
5.3.1 Upcoming of Updated Version 3D Secure Authentication Technology
5.4 Impact Analysis of Drivers and Restraints
6. 3D Secure Authentication Market – North America Analysis
6.1 North America 3D Secure Authentication Market Overview
6.2 North America 3D Secure Authentication Market –Revenue and Forecast to 2028 (US$ Million)
7. North America 3D Secure Authentication Market Analysis – By Component
7.1 Overview
7.2 North America 3D Secure Authentication Market, By Component (2020 and 2028)
7.3 Solution
7.3.1 Overview
7.3.2 Solution: 3D Secure Authentication Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Services
7.4.1 Overview
7.4.2 Services: 3D Secure Authentication Market – Revenue and Forecast to 2028 (US$ Million)
8. North America 3D Secure Authentication Market – By End-User
8.1 Overview
8.2 North America 3D Secure Authentication Market, by End-User (2020 and 2028)
8.3 Banks
8.3.1 Overview
8.3.2 Banks: 3D Secure Authentication Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Merchant and Payment Processor
8.4.1 Overview
8.4.2 Merchant and Payment Processor: 3D Secure Authentication Market – Revenue and Forecast to 2028 (US$ Million)
9. North America 3D Secure Authentication Market – Country Analysis
9.1 Overview
9.1.1 North America: 3D Secure Authentication Market- by Key Country
9.1.1.1 US: 3D Secure Authentication Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 US: 3D Secure Authentication Market- by Component
9.1.1.1.2 US: 3D Secure Authentication Market- By End-User
9.1.1.2 Canada: 3D Secure Authentication Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Canada: 3D Secure Authentication Market- by Component
9.1.1.2.2 Canada: 3D Secure Authentication Market- By End-User
9.1.1.3 Mexico: 3D Secure Authentication Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 Mexico: 3D Secure Authentication Market- by Component
9.1.1.3.2 Mexico: 3D Secure Authentication Market- By End-User
10. North America 3D Secure Authentication Market- COVID-19 Impact Analysis
10.1 North America
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Development
12. Company Profiles
12.1 Netcetera
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 GPayments Pvt. Ltd.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Modirum
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 mSignia, Inc.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Ravelin Technology Ltd.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 RS Software
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 UL, LLC
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. North America 3D Secure Authentication Market – Revenue, and Forecast to 2028 (US$ Million)
Table 2. US: 3D Secure Authentication Market- by Component –Revenue and Forecast to 2028 (US$ Million)
Table 3. US: 3D Secure Authentication Market- By End-User –Revenue and Forecast to 2028 (US$ Million)
Table 4. Canada: 3D Secure Authentication Market- by Component –Revenue and Forecast to 2028 (US$ Million)
Table 5. Canada: 3D Secure Authentication Market- By End-User –Revenue and Forecast to 2028 (US$ Million)
Table 6. Mexico: 3D Secure Authentication Market- by Component –Revenue and Forecast to 2028 (US$ Million)
Table 7. Mexico: 3D Secure Authentication Market- By End-User –Revenue and Forecast to 2028 (US$ Million)
Table 8. List of Abbreviation
LIST OF FIGURES
Figure 1. North America 3D Secure Authentication Market Segmentation
Figure 2. North America 3D Secure Authentication Market Segmentation – By Country
Figure 3. North America 3D Secure Authentication Market Overview
Figure 4. Solution Segment Held the Largest Market Share
Figure 5. Merchant and Payment Processing Segment Held the Largest Market Share
Figure 6. US Held the Largest Market Share
Figure 7. North America – PEST Analysis
Figure 8. Expert Opinion
Figure 9. North America 3D Secure Authentication Market: Impact Analysis of Drivers and Restraints
Figure 10. North America 3D Secure Authentication Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. North America 3D Secure Authentication Market Revenue Share, by Component (2020 and 2028)
Figure 12. North America Solution: 3D Secure Authentication Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. North America Services 3D Secure Authentication Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. North America 3D Secure Authentication Market Revenue Share, by End-User (2020 and 2028)
Figure 15. North America Banks: 3D Secure Authentication Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. North America Merchant and Payment Processor: 3D Secure Authentication Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. North America: 3D Secure Authentication Market, by Key Country – Revenue (2020) (US$ Million)
Figure 18. North America: 3D Secure Authentication Market Revenue Share, by Key Country (2020 and 2028)
Figure 19. US: 3D Secure Authentication Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Canada: 3D Secure Authentication Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Mexico: 3D Secure Authentication Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Impact of COVID-19 Pandemic in North American Country Markets
- GPayments Pvt. Ltd.
- Modirum
- mSignia, Inc
- Netcetera
- Ravelin Technology Ltd
- RS Software
- UL, LLC
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America 3D secure authentication market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the North America 3D secure authentication market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the 3D secure authentication market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution