Two-Factor Authentication Market | Multi-Factor Authentication | worth 9.60 Billion USD by 2020
Multi-Factor Authentication (MFA) Market is expected to reach USD 9.60 Billion by 2020, growing
at a CAGR of 17.7% between 2015 and 2020.
Multi-factor
authentication can be described as authenticating a person on the basis of
factors provided by that person. The factors can be classified under three
broad categories: “Something you have”, “Something you know”, and “Something
you are”. These three factors can be hardware tokens, PIN, passwords,
biological traits, and so on. Another type of authenticating factor is OTP (One
Time Password), which is gaining popularity in Europe and North America.
Browse 71
tables and 80 figures spread through 169 pages and in-depth TOC on "Multi-Factor Authentication Market - Global Forecast
to 2020"
The major players
in the multi-factor authentication market covered in this report are RSA
Security, LLC (U.S.), Vasco Data Security (U.S.), Gemalto NV (Netherlands),
Safran SA (France), Fujitsu, Ltd. (Japan), CA Technologies (U.S.), NEC
Corporation (Japan), Cross Match Technologies (U.S.), HID Global (U.S.) and 3M
(U.S.) among others.
Availability of
cloud-based multi-factor authentication technology has reduced the maintenance
costs typically associated with hardware and software-based two-factor and
three-factor authentication models. Companies now prefer adopting cloud-based
authentication solutions because the pay per use model is more cost effective,
and they offer improved reliability and scalability, ease of installation and
upgrades, and minimal maintenance costs.
The two-factor and
three-factor authentication models are further segmented into different types
of models. The segmentation of the multi-factor authentication market on the
basis of application provides an insight about the various types of
applications that are available in the market. This segment includes applications
including government, military & defense, healthcare, banking &
finance, commercial security, consumer electronics, travel & immigration,
and others.
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This report on the
multi-factor authentication market is aimed towards analyzing the major
application segments such as government, defense, travel and immigration,
banking and finance, consumer electronics, commercial security and healthcare.
The most common application areas in the field of multi-factor authentication
are banking & finance, government, and defense.
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