Global Multifactor Authentication Market: Snapshot
Multi-factor authentication can be considered to be an emerging sector of the identity access management and may utilize many-fold methods of authentication to verify a user’s identity. Authenticating user identity ensures security during online transactions, while logging into online services, and accessing corporate resources. Credentials that have been compromised are the key cause resulting breach of data. Multi-factor authentication is thus utilized by enterprises in order to administer an extra security layer that makes users to authenticate via knowledge, possession, and inherence factors to gain access to corporate and social networks.
Get Sample Copy:
There has been as surge in concern regarding data privacy across the globe. A large number of countries have introduced countermeasures be implementing regulations such as HIPAA, Gramm-Leach-Bliley Act (GLBA), Basel II, PCI DSS, and SOX. The rise in regulatory demands for large banks and PCI companies is providing impetus to the adoption of multi-factor authentication in across the globe. Furthermore, technological progress in authentication solutions such as phone-based authentication and SMS tokens, integrated with biometric authentication is also boost the growth of the global multifactor authentication market.
The global multifactor authentication market is expected to rise to US$20,444.9 mn by 2025 from US$ 4,829.2 mn in 2016. Over the forecast duration of 2017 and 2025, the global multifactor authentication market is prognosticated to expand at 17.7% CAGR.
Grab an exclusive PDF Brochure of this report:
Cost Effectiveness of Two-Factor Authentication Segment to Push it to Top
On the basis of the authentication models the multifactor-authentication market has been further segmented into three categories which are, two-factor authentication, three-factor authentication, and four-factor authentication. Two-factor authentication is a two-step verification process of combining any two of the four possible authentication parameters including possession, knowledge, genetics and location. Among all the models, two-factor authentication model could see a significant market share for the forecast period-2017-2025, as it is a cost-effective method for multi-factor authentication.
On the basis of the end-user industry segment, the multi-factor authentication market has been divided into BFSI, government, healthcare, retail, defense, telecom & IT, and others. Among all the sectors, BFSI is expected to show a significant market revenue share for the forecast period. This higher market revenue share is attributed to the increasing number of cyber-attacks on financial institutions.
Read TMR Research Methodology @:
Presence of Key Vendors to Propel North American Market
North America is expected to have the highest market revenue share. The growth in the North American region is majorly due to the countries such as United States and Canada. Furthermore, many companies from the multi-factor authentication market are significantly focusing on strategic mergers and acquisitions for deeper geographical penetration.
Some of the major players in the multi-factor authentication market are RSA Security, SecureAuth Coproration, Microsoft Corporation, CA Technologies, Symantec Corporation, Vasco Data Security International Inc., Okta Inc., Ping Identity, Gemalto, Entrust Datacard Corporation and HID Global Corporation.
Read Our Latest Press Release:
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad-hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
Transparency Market Research State Tower,
90 State Street,
Albany NY – 12207
USA – Canada Toll Free: 866-552-3453