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Multifactor Authentication Market Worth 12.51 Billion USD by 2022

PUNE, India, May 19, 2017 /PRNewswire/ --

According to a new market research report "Multifactor Authentication Market by Model (Two-, Three-, Four-, and Five-Factor), Application (Banking and Finance, Government, Military and Defense, Commercial Security, Consumer Electronics, Healthcare), and Geography - Global Forecast to 2022", published by MarketsandMarkets™, is expected to grow at a CAGR of 15.52% to reach USD 12.51 Billion by 2022.

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Browse 66 market data Tables and 53 Figures spread through 173 Pages and in-depth TOC on "Multifactor Authentication Market"

http://www.marketsandmarkets.com/Market-Reports/multi-factor-authentication-market-877.html

Early buyers will receive 10% customization on this report. 

Factors such as an increase in data breaches and cyber-attacks, stringent regulations and the growing pressure of data security compliances, and the growing adoption of BYOD concept among enterprises are driving the growth of the multifactor authentication market.

The market for five-factor authentication models is expected to grow at the highest rate during the forecast period 

The market for five-factor authentication model is expected to grow at the highest rate during the forecast period. Five-factor authentication model provides a high level of security to top secret information, which is of high importance. Also, it has a good potential in the near future, as it is a good solution for government applications such as homeland security services, access to top secret national data/files, safeguarding data, and technology in national research centers. These are the main reasons behind the adoption of five-factor authentication model.

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The market for the banking and finance application holds the largest market share during the forecast period 

The banking and finance application accounted for the largest share in the multifactor authentication market in 2016. Major factors for the growth of this market are increasing online traction and the growth of e-commerce for which secure transactions are required. Many regulatory bodies have passed a regulation for the use of multifactor authentication technology in this application. For the security of banking and financial applications such as core banking, online banking, banking cards personalization systems, trade finance, international payments, foreign exchange, bank guarantee, and other banking and financial services, multifactor authentication plays an important role in the authentication, resulting in the highest market share in the multifactor authentication market.

The market in the Americas is dominating the multifactor authentication market during the forecast period 

The market in the Americas holds the largest market share in the multifactor authentication market during the forecast period. The presence of key companies such as 3M (US), CA Technologies (US), VASCO Data Security International Inc. (US), RSA Security LLC (US), and Crossmatch (US); a large industrial base; and a high regulatory compliance in the Americas are expected to propel the growth of the American multifactor authentication market.

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Major players operating in the multifactor authentication market include Safran (France), Gemalto NV (the Netherlands), NEC Corporation (Japan), 3M (US), CA Technologies (US), Fujitsu (Japan), VASCO Data Security International Inc. (US), HID Global Corporation/ASSA ABLOY AB (Sweden), RSA Security LLC (US), Suprema HQ Inc. (South Korea), and Crossmatch (US).

Browse Related Reports 

Biometric System Market by Authentication Type (Single-Factor: (Fingerprint, IRIS, Palm Print, Face, Vein, Signature, Voice), Multi-Factor), Component (Hardware and Software), Function (Contact and Non-contact), Application, and Region - Global Forecast to 2022

http://www.marketsandmarkets.com/Market-Reports/next-generation-biometric-technologies-market-697.html

Access Control Market by Type (Hardware, Software & Services), Hardware (Magnetic Stripe, Proximity & Smart Cards, Biometrics, Electronic Locks (Electromagnetic, Electric Strike, Wireless), Controller/Server, Geography - Global Forecast to 2022

http://www.marketsandmarkets.com/Market-Reports/access-control-market-164562182.html

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About MarketsandMarkets

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets' flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.


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