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Global Multi-Factor Authentication Market to Grow at a CAGR of 22.18% During the Period 2016 - 2020; Finds New Report

Market Research Reports, Inc. has announced the addition of “Global Multi-factor Authentication Market 2016 - 2020” research report to their website www.MarketResearchReports.com

 

Lewes, DE -- (SBWIRE) -- 05/12/2016 -- Report forecast the global multi-factor authentication market to grow at a CAGR of 22.18% during the period 2016-2020.

Multi-factor authentication is a verification technique that uses two or more different authentication methods. This ensures additional security, making it difficult for an unauthorized person to access a physical location, database, or computing device. Multi-factor authentication solutions incorporate biometrics and phone-based authentication solutions, making them one of the most secure authentication solutions available in the market.

Multi-factor authentication is a security system that requires more than one type of authentication to verify the identity of a user for the purpose of login or transaction:
- Primary layer (something the user knows): personal identification number (PIN), pattern, or password
- Secondary layer (something the user has): smart card, ID card, software token, hardware token, or phone-based token
- Tertiary layer (something the user is): biometric identifiers such as facial recognition, fingerprint identification, or retinal pattern

The report covers the present scenario and the growth prospects of the global multi-factor authentication market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of multi-factor authentication products and services.

The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA

According to the report, the growing need for uninterrupted connectivity in corporate offices has compelled employees to use portable devices such as cell phones, tablets, and PCs to gain access to confidential information. Hackers can easily gain access to data stored on mobile devices, which may lead to the misuse of critical data. So, the need for security of the data stored on mobile devices has increased.

Further, the report states that the market is controlled by a small set of vendors and the low competition is resulting in high initial deployment and replacement costs.

Global Multi-factor Authentication Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the Global Multi-factor Authentication Market: EMC, Entrust, Gemalto, and Vasco.

Other Prominent Vendors in the market are: Authenex, Authentify, CA Technologies, Deepnet Security, HID Global, Mi-Token, PointSharp, Safran, SecureAuth, SecurEnvoy, SecurStar, SecuTech Solutions, and Swivel Secure.

Market driver
- Increased need for network security on mobile devices
- For a full, detailed list, view our report

Market challenge
- Increase in cost of OTP tokens
- For a full, detailed list, view our report

Market trend
- Introduction of OOB authentication
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 60 pages and 29 Exhibit "Global Multi-factor Authentication Market 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Life cycle analysis, Market segmentation by offering, Market segmentation by technology, Market segmentation by application, Market segmentation by end-user, Geographical segmentation, Buying criteria, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Appendix.

For more information Visit at: http://www.marketresearchreports.com/technavio/global-multi-factor-authentication-market-2016-2020

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