Multi-Factor Authentication Market Estimated to Reach $10.75 Billion by 2020 New Report by MarketsandMarkets - Tucson News Now

Multi-Factor Authentication Market Estimated to Reach $10.75 Billion by 2020 New Report by MarketsandMarkets

Posted:

This article was originally distributed via PRWeb. PRWeb, WorldNow and this Site make no warranties or representations in connection therewith.

SOURCE:

Multi-Factor Authentication Market report deals with all the driving factors, restraints, and opportunities for the Multi-factor authentication market, which are helpful in identifying trends and key success factors for the industry.

(PRWEB) July 15, 2014

According to a new market research report, "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," published by MarketsandMarkets, the total market is expected to reach $10.75 Billion by 2020, at a CAGR of 19.67%.

Browse 106 market data Tables and 46 Figures spread through 304 Pages and in-depth TOC on "Multi-Factor Authentication Market:"
http://www.marketsandmarkets.com/Market-Reports/multi-factor-authentication-market-877.html

Early buyers will receive 10% customization on this report.
http://www.marketsandmarkets.com/requestCustomization.asp?id=877

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 him/her. MFA has become the most important part of security due to increase in unauthorized access, frauds, border intrusion and so on. MFA is increasingly getting deployed at all the security checkpoints in airports, commercial complex, retail malls, banking & finance and so on. MFA provides accurate authentication and negligible margin of duplicity or error.

RSA Security LLC, the Security Division of EMC, is the premier provider of security, risk and compliance management solutions primarily in the United States. RSA serves banking, insurance, technology, professional services, hardware, software companies, manufacturing, transportation, distribution, telecommunications, government, healthcare, and pharmaceutical companies. The company provides RSA Authentication Manager which is a central two-factor authentication software that has the capabilities to manage security tokens, users, multiple applications, agents, and resources across physical sites. The company also provides various hardware base authenticators like RSA SecurID 200 Authenticator, SA SecurID 700 Authenticator, RSA SecurID Select and many more. The company also provides RSA SecurID Software for smartphones, laptops, desktops, and web browsers. The company has a diverse range of MFA products from software to hardware to web browsers. Hence, RSA security is considered as one of the market leaders of the biometric market.

This report describes the various types of biometric and non-biometric technologies such as hardware and software tokens, OTP (One Time Password), and biometric recognition that are being used for different applications. The above-mentioned techniques can be combined to form two, three, four, and five-factor authentication models. Out of these models, two-factor authentication is commonly used in most of the applications. Two-factor authentication is the oldest type of MFA technique and can be seen at banks, ATMs, and at various government offices.

The report also throws light on the various application areas of MFA technology such as government, banking and finance, travel and immigration, defense, consumer electronics, commercial security, and healthcare. MFA technology is slowly spreading across all the industries wherever security is the prime concern. MFA is largely deployed in the application areas like government, travel and immigration, banking & finance, and defense.

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.

Global Multi-Factor Authentication Market is expected to reach $10.75 Billion by 2020, at an estimated CAGR of 19.67%. North America is the biggest multi-factor authentication market, followed by Europe and APAC. In ROW, the Middle East and Africa are the largest contributor's way and at every level.

For more details:
http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=877

Browse Related Reports

Gesture Recognition & Touch-Less Sensing Market by Technology (2D, 3D, Ultrasonic, IR, Capacitive), Product (Biometric, Sanitary Equipment), Application (Healthcare, Consumer Electronics, Automotive), Geography (Americas, EMEA & APAC) - Global Forecasts and Analysis to 2013 - 2020

http://www.marketsandmarkets.com/Market-Reports/touchless-sensing-gesturing-market-369.html

Europe Gesture Recognition & Touchless Sensing Market Technology (2D, 3D, Ultrasonic, IR, Capacitive); Product (Biometric, Sanitary); Application (Healthcare, Electronics, Automotive); Region (Germany, U.K., France, Italy, MEA) - (2013 - 2018)

http://www.marketsandmarkets.com/Market-Reports/europe-gesture-recognition-and-touchless-sensing-market-1149.html

About MarketsandMarkets:

MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world. MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services. MarketsandMarkets covers thirteen industry verticals; including advanced materials, automotive and transportation, banking and financial services, biotechnology, chemicals, consumer goods, telecommunications and IT, energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, semiconductor and electronics, aerospace & defense.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

Contact:

Mr. Rohan
North - Dominion Plaza
17304 Preston Road
Suite 800, Dallas, TX 75252
Tel: +1-888-600-6441
Email: sales@marketsandmarkets(dot)com
Visit MarketsandMarkets Blog at http://www.marketsandmarketsblog.com/market-reports/electronics-and-semiconductors

For the original version on PRWeb visit: http://www.prweb.com/releases/multi-factor/authentication-market/prweb12018183.htm

Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact pressreleases@worldnow.com.

Powered by WorldNow