Pune, India -- (SBWire) -- 05/04/2018 --Global Multifactor Authentication Market is poised to grow in the forecast period of 2017 to 2024 with the CAGR of 15.21%. Multi-Factor Authentication is a technology which allows the organization to safeguard their confidential information from the undesirable access. Multi-Factor authentication uses the various security keys such as passwords, OTP, Biometric too give the authentication to access the data. It is widely incorporated in application industries such as banking and finance, government, travel and immigration, military and defense, commercial security, consumer electronics, healthcare, and others.
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Major Market Competitors:
- 3M,
- Apersona Inc,
- Biomio,
- CA Technology,
- Censornet Ltd,
- Crossmatch,
- Deepnet Security,
- Duo Security,
- Entrust Inc.,
- Fujitsu,
- Gemalto NV,
- Hid Global Corporation/Assa Abloy Ab,
- Iovation Inc,
- NEC Corporation,
- Nexus Group,
- Rcg Holdings Limited,
- Rsa Security LLC,
- Safran,
- Secugen Corporation,
- Securenvoy Ltd,
- Suprema HQ Inc.,
- Symantec Corporation,
- Vasco Data Security International Inc.,
- Com,
- ZK Software, and others.
Global Multifactor Authentication Market accounted for USD 5.52 billion in 2016 growing at a CAGR of 15.21% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic year 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Major Market Drivers& Restraints:
- Rapid globalization
- Growing demand of e-commerce
- High-level security provided by hardware OTP tokens
- High usage service time are limiting the market
- High initial investments, and complex maintenance
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Market Segmentation:
The global multifactor authentication market is segmented on the basis of model which is further segmented into two-factor authentication, multifactor with three-factor authentication, multifactor with four-factor authentication, multifactor with five-factor authentication, and others. The two-factor authentication segment is further sub segmented into smart card with pin, smart card with biometric technology, biometric technology with pin, two-factor biometric technology, one time password with pin, and others. The multifactor with three-factor authentication is further sub categorized into smart card with pin and biometric technology, smart card with two-factor biometric technologies, pin with two-factor biometric technologies, three-factor biometric technology, and others.
On the basis of deployment, the global multifactor authentication market is segmented into premise, on cloud, and others.
On the basis of application, the multifactor authentication market is further segmented into banking and finance, government, travel and immigration, military and defense, commercial security, consumer electronics, healthcare, and others.
On the basis of geography, global multifactor authentication market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
Company Share Analysis:
The report for global multifactor authentication market include detailed vendor level analysis for market shares in 2016 for Global, North America, Europe, Asia Pacific, Middle East and Africa and South America specifically. Also impact and development analysis of key vendors is registered in the market and factored on the basis of Vendor Positioning Grid Analysis which measures the vendors strengths and opportunities against present market challenges, measure providers ability to identify or satisfy present market needs, map providers market vision to current and upcoming market dynamics among others. The report also measures technology life line curve and market time line to analyze and do more affective investments.
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Multifactor Authentication Market Research Report with Top Key Players Forecast Like Fujitsu, Gemalto, Hid Global Corporation/Assa Abloy, Iovation, NEC Corp., Nexus
Multifactor Authentication Market By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa), Deployment (On Premise, On Cloud), By Application (Banking & Finance, Government, Travel & Immigration, Military & Defense, Commercial Security, Consumer Electronics, Healthcare)- Industry Trends and Forecast to 2024