April 4, 2013
Research and Markets (
) has announced the addition of the "Multi-Factor Authentication Market - By Model/Type [Two, Three, Four & Five-Factor], Application & Geography - Forecasts (2012 - 2017)" report to their offering.
The global multi-factor authentication (MFA) market which includes different types of authentication and applications is expected to reach
by 2017 at an estimated CAGR of 17.3% from 2012 to 2017. Two-factor authentication is most widely used MFA model in the world with smartcard with PIN and one time password (OTP) are the most popular technique. Biometric based MFA models are growing at a fast rate.
cover most of the market, whereas APAC has the fastest growing region.
Some of the key developments in the authentication industry include Microsoft (U.S.) buying PhoneFactor (U.S.) in
, Apple Inc. (U.S.) bought AuthenTec (U.S.). L1 Identity, a biometric technology company was bought by Sagem Morpho (
). Several other acquisitions, mergers, new product launch, agreements etc. have happened and are discussed in the report.
The report estimates the multi factor authentication market, forecasts the size of MFA technologies by models, by applications, and by geography from 2012 to 2017. It talks about the latest events in the market under winning imperatives and burning issues. We further segment the models by two-factor authentication, three-factor authentication, four-factor authentication, and five-factor authentication. These models are used in different industries according to the security requirements. Two-factor and three-factor authentication models are further segmented into different types of models.
This report segregates the overall multi-factor authentication market into various application areas such as government, defence, banking and finance, travel and immigration, healthcare, consumer electronics, commercial security, and others. Increasing security concerns, use of MFA in banking & finance, use of MFA via smartphones, increasing cybercrime, etc. give rise to MFA market.