Multi-Factor Authentication Market - Global Trend & Forecast to 2014 - 2020
By Model/Type (Two, Three, Four & Five-Factor), Application (Banking & Finance, Government, Defense, Healthcare and others), & by Geography
Multi-factor authentication (MFA) implies user and employee authentication by verifying, two or more authentication techniques (Hardware token, One Time Password, Password/PIN, and Biometric traits) provided by them. The use of more than one authentication factor significantly increases the security, thus reducing the chances of fake identity, fraud, and so on. This report covers various MFA technology model such as two-factor, three-factor, four-factor and five-factor authentication. Two factor authentications is the most commonly used model.
This report segregates the overall MFA technology market into various application areas such as government, travel and immigration, defense, banking and finance, healthcare, consumer electronics and commercial security. Increasing number of fraud, identity theft, security threats, unauthorized infiltration across the borders, illegal transaction at the ATMs, and so on, give a rise to the MFA technology market. One of the major drivers for this market is the use of multi modal authentication in banking and finance application. Some of the key companies in the MFA market are Gemalto N.V. (Netherlands), RSA (U.S.), 3M (U.S.), Cross Match Technologies (U.S.), Safran SA (France), Fujitsu Ltd (Japan), and NEC Corporation (Japan).
Key take-a way’s
- Total revenue of the global Multi-factor authentication market is expected to grow at an estimated CAGR of 19.67% from 2014 to 2020
- Impact analysis of the market dynamics, with factors currently driving and restraining the growth of the market, along with their impact in the short, medium, and long-term landscapes
- Analysis of the global market with a special focus on the high-growth applications in each vertical and the fast growing application market segments
- Detailed analysis of the mature and emerging markets by application, technology, and geography
- The key trends related to the function, technology, and applications that shape and influence the market
- Illustrative segmentation, analysis, and projection of the important geographical markets to give an overall view of the global market
- Detailed competitive landscape with an identification of the key players in the market
- Competitive intelligence from company profiles, key player strategies, and game-changing developments such as product launches and acquisitions
- Identification of emerging trends and analysis of opportunities in the market for the stakeholders by identifying the high-growth segments of the MFA market
Brief analysis of Porter’s five force analysis
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