Multi-Factor Authentication Market Worth $5.45 Billion By 2017
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 market is slowly spreading across all the industries where security is of the utmost concern. MFA is largely deployed in application areas like government, travel and immigration, banking & finance, and defense.
The two-factor authentication model covers almost 90% of the market for multi-factor authentication, wherein banking & finance, travel & immigration and 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, etc. Three-factor authentication is mostly used in private access areas like bank lockers, secret data access, defense and 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 $5.45 billion by 2017, at an estimated CAGR of 17.3%. North America is the biggest multi-factor authentication market, followed by Europe and APAC. In ROW, Middle East and Africa are the largest contributors.
About MarketsandMarketsMarketsandMarkets 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 13 industry verticals, including advanced materials, automotives and transportation, banking and financial services, biotechnology, chemicals, consumer goods, energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, semiconductor s and electronics [ http://www.marketsandmarkets.com/semiconductorand-electonics-market-research-87.html ], aerospace & defence and telecommunications and IT. We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository. To know more about us and our reports, please visit our website http://www.marketsandmarkets.com. Contact: Mr. Rohan North - Dominion Plaza, 17304 Preston Road, Suite 800, Dallas, TX 75252 Tel: +1-888-6006-441 Email: firstname.lastname@example.org MarketsandMarkets Blog @ http://www.marketsandmarketsblog.com/ http://twitter.com/marketsmarkets http://www.facebook.com/MarketsandMarkets http://www.linkedin.com/company/marketsandmarkets SOURCE MarketsandMarkets
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts