ReportsnReports.com adds Global Multi-factor Authentication Market 2015-2019 research report that says use of cloud-based authentication expected to fuel the worldwide multi-factor authentication market by 2019.
According to global multi-factor authentication market 2015-2019 research report, growing security breaches have increased the demand for multi-factor authentication services in SMEs. The traditional username/password authentication used by many companies is prone to hacking, which is leading many enterprises to adopt highly secure multi-factor authentication softwares.
This 2015-2019 multi-factor authentication market report covers different forms of multi-factor authentication solutions such as two-factor authentication and three-factor authentication. To calculate the market size, it considers the revenue generated from OTP hardware tokens, Smart card-based authentication and Phone-based authentication. In addition, the report provides a detailed analysis on the basis of Multi-factor authentication products: It includes hardware products such as OTP tokens and smartcard tokens and Multi-factor authentication services: It includes software and services used for multi-factor authentication. It also includes revenues generated from out-of-band authentication services.
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. Vendors are introducing unified platforms that provide both hardware and software authentication solutions. These unified platforms are helping authentication vendors reduce costs since they need not maintain separate platforms and modules.
Companies active in multi-factor authentication market and discussed in this research include EMC, Entrust, Gemalto, VASCO Data Security International, ActivIdentity, Anakam, Arcot Systems, Authentify, Bio-Key International, CA Technologies, CRYPTOCard, Deepnet Security, Equifax, HID Global, ID Control, Microsoft, Mi-Token, Phone Factor, PointSharp AB, PortWise, SafeNet, SecureAuth, SecurEnvoy, SecurStar, SMS Passcode, Swivel Secure, Symantec, Technology Nexus, Telesign, Tricerion and TriCipher.
Another 304 pages report on Multi-Factor Authentication Market by Model/Type (Two, Three, Four & Five-Factor), Application (Banking & Finance, Government, Defense, Healthcare and others), & by Geography - Global Trend & Forecast to 2014 - 2020 says total revenue of the global Multi-factor authentication market is expected to grow at an estimated CAGR of 19.67% from 2014 to 2020. 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.
Two-factor authentication model covers almost 90% of the market for multi-factor authentication, wherein banking & finance, travel & immigration, commercial security are the major applications. Three, four, and five-factor authentication models are less used when compared to two-factor authentication. The three-factor authentications include smart card with pin and biometric technology, smart card with two biometric technologies, pin with two biometric technologies and three biometric authentications. On the other hand, four- and five-factor authentication includes the use of smart card and pin with more than one type of biometric technology such as face recognition, fingerprint recognition, voice recognition, and so on. Three-factor authentication is mostly used in private access areas like bank lockers, secret data access, defense, travel & immigration. The use of four- and five-factor authentication models is restricted to high cost projects in defense, research, and government-based applications.
Multi-factor authentication companies profiled in this research include 3M, Cross Match Technologies Inc, Fujitsu Ltd., Gemalto NV, Lumidigm Inc., NEC Corporation, RCG Holdings Limited, RSA Security LLC, Safran SA, Suprema Inc. and Validsoft UK Ltd.
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