Market Research Future (MRFR) Announces the Publication of its Half-Cooked Research Report –Global Multi Factor Authentication Market Research Report– Forecast, 2017-2023
Multi-factor Authentication is a technological tool which enables the organization to safeguard their confidential data against unwanted access and theft. The technique includes username, personal identification number, password, biometric, and One-time password (OTP).
Increased number of cyber theft cases and surging demand for secured online transactions of banking and other financial services are expected to foster the multi-factor authentication market over the forecast period.
According to Market Research Future Analysis, multi factor authentication market has been valued at 4 billion in 2016 and presumed to reach approx. USD 11 billion with 13% of CAGR during the forecast period, 2017-2023.
Key Players
Market Research Future (MRFR) identifies the following companies as the key in multi factor authentication market – Safran (France), Gemalto NV (the Netherlands), NEC Corporation (Japan), 3M (U.S.), CA Technologies (U.S.), Fujitsu (Japan), VASCO Data Security International Inc. (U.S), HID Global Corporation/ASSA ABLOY AB (Sweden), RSA Security LLC (U.S.), Suprema HQ Inc. (South Korea), Crossmatch (U.S.), IBM Corporation (U.S.), Microsoft Corporation (U.S.), Securenvoy Ltd (U.K) and Watchdata Technologies (China).
Regional analysis
Geographically, multi factor authentication market has been bifurcated into North America, Europe, Asia Pacific, and Rest of the World.
North America is expected to be the prominent region in multi factor authentication market over the forecast period. This is attributed to the advancement of technology associated with large number of technical expertise and growing requirement of security and surveillance. In North American region, the U.S. and Canada are the prominent countries. Large number of market players in this region are presumed to drive the growth of the multi-factor authentication market.
However, Asia Pacific is expected to foresee a promising growth over the forecast period owing to rising demand from IT & business infrastructure and growing number of solution providers. China, India, and Japan are the leading countries of the Asia-Pacific region. Europe region is expected to have a substantial growth over the forecast period due increasing number of data breaches.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.