HOME Top Market Reports Multi-Factor Authentication (MFA) Market by Model (Two, Three, Four, and Five Factor), Application (Travel & Immigration, Government, Banking, Defense, Commercial Security, Consumer Electronics, Healthcare), and Geography - Global Forecast to 2020

Multi-Factor Authentication (MFA) Market by Model (Two, Three, Four, and Five Factor), Application (Travel & Immigration, Government, Banking, Defense, Commercial Security, Consumer Electronics, Healthcare), and Geography - Global Forecast to 2020

By: marketsandmarkets.com
Publishing Date: August 2015
Report Code: SE 2336

 

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The global multi-factor authentication (MFA) market was valued at USD 3.60 Billion in 2014 and is expected to reach USD 9.60 Billion by 2020, at an estimated CAGR of 17.7% from 2015 to 2020. The two-factor authentication is most widely used MFA model followed by three-factor authentication model, wherein smartcard with PIN and one time password (OTP) is the most popular technique. Biometric based MFA models are growing at a fast rate. North America and Europe covers most of the market, whereas APAC is the fastest growing region.

The report estimates the multi-factor authentication market, forecasts the size of MFA technologies by models, by applications, and by geography from 2015 to 2020. It includes the latest events in the market under winning imperatives and burning issues. The market is further segmented 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. The two-factor and three-factor authentication models are further segmented into different types of models. The segmentation of the multi-factor authentication market on the basis of application provides an insight about the various types of applications that are available in the market. This segment includes applications including government, military & defense, healthcare, banking & finance, commercial security, consumer electronics, travel & immigration, and others.

This report also enlists the driving factors, restraints, and opportunities with respect to the Two-Factor Authentication Market , which are helpful in identifying trends and key success factors for the industry. It also profiles companies active in the field of MFA technology. The report provides the competitive landscape of the players, which covers key growth strategies followed by all the major players. It also highlights the winning imperatives and burning issues pertaining to the MFA industry. It analyses the MFA technology market with the help of Porter’s five-force model.

The major players in the multi-factor authentication market covered in this report are RSA Security, LLC (U.S.), Vasco Data Security (U.S.), Gemalto NV (Netherlands), Safran SA (France), Fujitsu, Ltd. (Japan), CA Technologies (U.S.), NEC Corporation (Japan), Cross Match Technologies (U.S.), HID Global (U.S.) and 3M (U.S.) among others.

Scope of the report

This research report categorizes the global MFA technology, based on types of authentication and applications market; it also covers the forecasted revenue from 2015 to 2020 and future applications of the MFA market. The report describes the applications mapping the Two-Factor Authentication Market with respect to the growth potential and adoption by the users.

On the basis of types of authentication (Model)

The global Two-Factor Authentication Market is categorized into various models such two-factor, three-factor, four-factor, and five-factor authentication.

On the basis of application areas

Application areas of biometric technology have been categorized into government, travel and immigration, defense, banking and finance, healthcare, consumer electronics and commercial security.

On the basis of geography

Geographical analysis covers North America, Europe, Asia-Pacific, and the RoW.

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Study Objectives 
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency & Pricing
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 17)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
    2.2 Demand Side Analysis for Multi-Factor Authentication Market
           2.2.1 Demand-Side Analysis
                    2.2.1.1 Government Initiative in Adoption of Various Multi-Factor Authentication Technology
                    2.2.1.2 Increased Mobile Commerce Spending
                    2.2.1.3 Unification of Different Technologies
    2.3 Market Size Estimation
           2.3.1 Bottom-Up Approach
           2.3.2 Top-Down Approach
    2.4 Market Breakdown and Data Triangulation
    2.5 Research Assumptions
           2.5.1 Assumptions

3 Executive Summary (Page No. - 27)

4 Premium Insights (Page No. - 32)
    4.1 Attractive Market Opportunities in MFA Market
    4.2 Two-Factor Authentication Model Market: By Geography
    4.3 MFA Market in the Asia-Pacific Region
    4.4 MFA in Banking & Finance Application Market, By Geography
    4.5 Life Cycle Analysis, By Geography

5 Market Overview (Page No. - 35)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 Market, By Model
           5.2.2 Market, By Application
           5.2.3 Market, By Geography
    5.3 Market Evolution
    5.4 Market Dynamics
           5.4.1 Drivers
                    5.4.1.1 Legislative Compliances
                    5.4.1.2 Increasing National and Network Security Threats
                    5.4.1.3 Increasing Online Transactions
                    5.4.1.4 Smartphone-Based Mobile Device With MFA Technology on Rise
                    5.4.1.5 Rise of E-Commerce
           5.4.2 Restraints
                    5.4.2.1 Increase in MFA Usage Service Time
                    5.4.2.2 Low Acceptance in Several Countries Due to Cultural/Religious Reasons
           5.4.3 Opportunities
                    5.4.3.1 Introduction of MFA in Gaming
                    5.4.3.2 Cloud Computing for MFA Technology
                    5.4.3.3 Demand for Authentication as A Service
           5.4.4 Challenges
                    5.4.4.1 Security of Data
                    5.4.4.2 Reducing the Cost of the Technology
           5.4.5 Burning Issue
                    5.4.5.1 Administration of Multi-Factor Authentication
           5.4.6 Winning Imperative
                    5.4.6.1 User Friendly

6 Industry Trends (Page No. - 49)
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Porter’s Five Forces Analysis
           6.3.1 Intensity of Competitive Rivalry
           6.3.2 Threat of Substitutes
           6.3.3 Bargaining Power of Buyers
           6.3.4 Bargaining Power of Suppliers
           6.3.5 Threat of New Entrants

7 Multi-Factor Authentication Market, By Model (Page No. - 58)
    7.1 Introduction
           7.1.1 Two-Factor Authentication Model
                    7.1.1.1 Smart Card With Pin
                    7.1.1.2 Smart Card With Biometric Technology
                    7.1.1.3 Biometric Technology With Pin
                    7.1.1.4 Two-Factor Biometric Technology
                    7.1.1.5 One Time Password With Pin
           7.1.2 Multi-Factor With Three-Factor Authentication
                    7.1.2.1 Smart Card With Pin and Biometric Technology
                    7.1.2.2 Smart Card With Two-Factor Biometric Technologies
                    7.1.2.3 Pin With Two-Factor Biometric Technologies
                    7.1.2.4 Three-Factor Biometric Technology
           7.1.3 Multi-Factor With Four-Factor Authentication
           7.1.4 Multi-Factor With Five-Factor Authentication

8 Multi-Factor Authentication Market, By Application (Page No. - 78)
    8.1 Introduction
    8.2 Travel & Immigration
    8.3 Government
    8.4 Defense
    8.5 Banking & Finance
    8.6 Commercial Security
    8.7 Consumer Electronics
    8.8 Healthcare
    8.9 Others

9 Multi-Factor Authentication Market, By Geography (Page No. - 93)
    9.1 Introduction
    9.2 North America
           9.2.1 U.S.
           9.2.2 Canada
           9.2.3 Mexico
    9.3 Europe
           9.3.1 Germany
           9.3.2 U.K.
           9.3.3 France
           9.3.4 Italy
    9.4 APAC
           9.4.1 Australia
           9.4.2 China
           9.4.3 Japan
           9.4.4 South Korea
           9.4.5 India
    9.5 RoW

10 Competitive Landscape (Page No. - 122)
     10.1 Overview
     10.2 Market Ranking for Multi-Factor Authentication Market, 2014
     10.3 Competitive Scenario
     10.4 Recent Developments
             10.4.1 New Product Launches
             10.4.2 Partnerships, Agreements, and Contracts & Collaborations
             10.4.3 Mergers and Acquisitions

11 Company Profiles (Page No. - 129)
(Overview, Products and Services, Financials, Strategy & Development)*
     11.1 Introduction
     11.2 Safran SA
     11.3 NEC Corporation
     11.4 3M
     11.5 Gemalto NV
     11.6 RSA Security Llc.
     11.7 CA Technologies
     11.8 Fujitsu Ltd.
     11.9 Suprema, Inc.
     11.10 Vasco Data Security International, Inc.
     11.11 Cross Match Technologies, Inc
     11.12 Hid Global Corporation

*Details on Overview, Products and Services, Financials, Strategy & Development Might Not Be Captured in Case of Unlisted Companies.

12 Appendix (Page No. - 160)
     12.1 Insights of Industry Experts
     12.2 Discussion Guide
     12.3 Introducing RT: Real Time Market Intelligence
     12.4 Available Customizations
     12.5 Related Reports


List of Tables (71 Tables)

Table 1 Legistative Compliances and Increasing National and Network Securty Threats Propels the Growth of the Multi-Factor Authentication Market
Table 2 Increase in MFA Usage Service Time Act as A Hinderance to the Multi-Factor Authentication Market
Table 3 Introduction of MFA in Gaming Industry is A Huge Opportunity for the Multi-Factor Authentication Market
Table 4 Security of Data is the Major Challenge for the Multi-Factor Authentication Market
Table 5 The Porter’s Five Forces Analysis: High Degree of Competition is Likely to Have A Maximum Impact on the Overall Market,2014
Table 6 Global Multi-Factor Authentication Market Size, By Models, 2013–2020 (USD Million)
Table 7 Global Two-Factor Authentication Market Size, By Model Type, 2013–2020 (USD Million)
Table 8 Two-Factor Authentication Market Size, By Geography, 2013–2020 (USD Million)
Table 9 North America: Two-Factor Authentication Market Size, By Country, 2013–2020 (USD Million)
Table 10 Europe: Two-Factor Authentication Market Size, By Country, 2013–2020 (USD Million)
Table 11 APAC: Two-Factor Authentication Market Size, By Country, 2013–2020 (USD Million)
Table 12 RoW: Two-Factor Authentication Market Size, By Country, 2013–2020 (USD Million)
Table 13 Global Three-Factor Authentication Market Size, By Type, 2013–2020 (USD Million)
Table 14 Three-Factor Authentication Market Size, By Geography, 2013–2020 (USD Million)
Table 15 North America: Three-Factor Authentication Market Size, By Country, 2013–2020 (USD Million)
Table 16 Europe: Three-Factor Authentication Market Size, By Country, 2013–2020 (USD Million)
Table 17 APAC: Three-Factor Authentication Market Size, By Country, 2013–2020 (USD Million)
Table 18 RoW: Three-Factor Authentication Market Size, By Country, 2013–2020 (USD Million)
Table 19 Four-Factor Authentication Market Size, By Geography, 2013–2020 (USD Million)
Table 20 North America: Four-Factor Authentication Market Size, By Country, 2013–2020 (USD Million)
Table 21 Europe: Four-Factor Authentication Market Size, By Country, 2013–2020 (USD Million)
Table 22 APAC: Four-Factor Authentication Market Size, By Country, 2013–2020 (USD Million)
Table 23 RoW: Four-Factor Authentication Market Size, By Country, 2013–2020 (USD Million)
Table 24 Five-Factor Authentication Market Size, By Geography, 2013–2020 (USD Million)
Table 25 North America: Five-Factor Authentication Market Size, By Country, 2013–2020 (USD Million)
Table 26 Europe: Five-Factor Authentication Market Size, By Country, 2013–2020 (USD Million)
Table 27 APAC: Five-Factor Authentication Market Size, By Country, 2013–2020 (USD Million)
Table 28 RoW: Five-Factor Authentication Market Size, By Country, 2013–2020 (USD Million)
Table 29 Multi-Factor Authentication Market Size, By Application, 2013–2020 (USD Million)
Table 30 Multi-Factor Authentication Market Size for Travel & Immigration Application, By Geography, 2013–2020 (USD Million)
Table 31 Multi-Factor Authentication Market Size for Government Application, By Region , 2013–2020 (USD Million)
Table 32 Multi-Factor Authentication Market Size for Defense Application, By Region , 2013–2020 (USD Million)
Table 33 Multi-Factor Authentication Market Size for Banking & Finance Application, By Region , 2013-2020 (USD Million)
Table 34 Multi-Factor Authentication Market Size for Commercial Security Application, By Region , 2013–2020 (USD Million)
Table 35 Multi-Factor Authentication Market Size for Consumer Electronics Application, By Region , 2013–2020 (USD Million)
Table 36 Multi-Factor Authentication Market Size for Healthcare Application, By Region , 2013–2020 (USD Million)
Table 37 Multi-Factor Authentication Market Size for Other Application, By Geography, 2013–2020 (USD Million)
Table 38 Multi-Factor Authentication Market Size, By Region, 2013–2020 (USD Million)
Table 39 North America: Multi-Factor Authentication Market Size, By Model, 2013–2020 (USD Million)
Table 40 North America: Multi-Factor Authentication Market Size, By Application, 2013–2020 (USD Million)
Table 41 North America: Multi-Factor Authentication Market Size, By Country, 2013-2020 (USD Million)
Table 42 U.S.: Multi-Factor Authentication Market Size, By Model, 2013-2020 (USD Million)
Table 43 Canada: Multi-Factor Authentication Market Size, By Model, 2013-2020 (USD Million)
Table 44 Mexico: Multi-Factor Authentication Market Size, By Model, 2013–2020 (USD Million)
Table 45 Europe: Multi-Factor Authentication Market Size, By Model, 2013–2020 (USD Million)
Table 46 Europe: Multi-Factor Authentication Market Size, By Application, 2013–2020 (USD Million)
Table 47 Europe: Multi-Factor Authentication Market Size, By Country, 2013–2020 (USD Million)
Table 48 Germany: Multi-Factor Authentication Market Size, By Model, 2013–2020 (USD Million)
Table 49 U.K.: Multi-Factor Authentication Market Size, By Model, 2013–2020 (USD Million)
Table 50 France: Multi-Factor Authentication Market Size, By Model, 2013–2020 (USD Million)
Table 51 Italy: Multi-Factor Authentication Market Size, By Model, 2013–2020 (USD Million)
Table 52 Rest of Europe: Multi-Factor Authentication Market Size, By Model, 2013–2020 (USD Million)
Table 53 APAC: Multi-Factor Authentication Market Size, By Model, 2013–2020 (USD Million)
Table 54 APAC: Multi-Factor Authentication Market Size, By Application, 2013–2020 (USD Million)
Table 55 APAC: Multi-Factor Authentication Market Size, By Country, 2013–2020 (USD Million)
Table 56 Australia: Multi-Factor Authentication Market Size, By Model, 2013–2020 (USD Million)
Table 57 China: Multi-Factor Authentication Market Size, By Model, 2013–2020 (USD Million)
Table 58 Japan: Multi-Factor Authentication Market Size, By Model, 2013–2020 (USD Million)
Table 59 South Korea: Multi-Factor Authentication Market Size, By Model, 2013–2020 (USD Million)
Table 60 India: Multi-Factor Authentication Market Size, By Model, 2013–2020 (USD Thousand)
Table 61 Rest of APAC: Multi-Factor Authentication Market Size, By Model, 2013–2020 (USD Thousand)
Table 62 RoW: Multi-Factor Authentication Market Size, By Model, 2013–2020 (USD Million)
Table 63 RoW: Multi-Factor Authentication Market Size, By Application, 2013–2020 (USD Million)
Table 64 RoW: Multi-Factor Authentication Market Size, By Region, 2013–2020 (USD Million)
Table 65 Middle East: Multi-Factor Authentication Market Size, By Model, 2013–2020 (USD Million)
Table 66 Africa: Multi-Factor Authentication Market Size, By Model, 2013–2020 (USD Million)
Table 67 Others: Multi-Factor Authentication Market Size, By Model, 2013–2020 (USD Million)
Table 68 Market Ranking of the Top 5 Players in the Multi-Factor Authentication Market, 2014
Table 69 New Product Launches, 2013-2015
Table 70 Partnerships, Agreements, and Contracts & Collaboration, 2013-2015
Table 71 Mergers and Acquisitions, 2012-2015


List of Figures (80 Figures)

Figure 1 Research Design
Figure 2 Breakdown of Primaries Interviews: By Company Type, Designation, and Region
Figure 3 Increase in Number of Mobile Retail Commerce Buyer, in Millions
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Assumptions for the Research Study
Figure 7 Banking & Finance Application Accounted for the Maximum Share in the Multi-Factor Authentication Market During the Forecast Period
Figure 8 Market Growth for Three-Factor Authentication Model is Expected to Be Higher Than Two-Factor Authentication Model From 2014 to 2020
Figure 9 North America is Expected to Have the Highest Market Share in the Government Application Market for MFA From 2014–2020
Figure 10 The APAC Multi-Factor Authentication Market Analysis, By Country, During the Forecast Period
Figure 11 Increasing Security Threats and Government Regulations Across Countries are the Major Driving Factor for MFA Market
Figure 12 North America is Expected to Grow at the Highest Share During the Forecast Period
Figure 13 Two-Factor Authentication Models Capture the Lion’s Share in the Emerging Asia-Pacific Market
Figure 14 The APAC Region is Expected to Grow at the Highest Growth Rate Compared to Other Regions By 2020
Figure 15 The MFA Market is Currently in the Growth Stage in the APAC and Europe Region
Figure 16 Multi-Factor Authentication Market: Segmentation
Figure 17 Multi-Factor Authentication Market: By Model
Figure 18 Multi-Factor Authentication Market: By Application
Figure 19 Multi-Factor Authentication Market: By Geography
Figure 20 Evolution of the Multi-Factor Authentication Market
Figure 21 Increasing National and Network Security Threats and Increasing Online Transactions is the Major Driving Factor for the MFA Market
Figure 22 Global Smartphone Shipments, 2010–2014 (Million Units)
Figure 23 Global Retail E-Commerce Sales, 2010–2014 (USD Billion)
Figure 24 Life Cycle of Multi-Factor Authentication Market, By Model, 2014
Figure 25 Value Chain Analysis (2014): Major Value is Added During the Assembly and Distribution Phases
Figure 26 The Porter’s Five Forces Analysis (2014):
Figure 27 Multi-Factor Authentication Market: Porter’s Five Forces Analysis, 2014
Figure 28 Intensity of Competitive Rivalry: High Competition in the Market Due to the New Product Launches and Innovations
Figure 29 Threat of Substitutes Would Be Low Due to the New Technology Innovations in the Market
Figure 30 Bargaining Power of Buyers Will Be Medium as the Cost of Switching to New MFA System is High
Figure 31 Bargaining Power of Suppliers: Technological Factors in Multi-Factor Authentication Technology are Expected to Drive the Market for Suppliers During the Forecast Period
Figure 32 Threat of New Entrants: With Innovative Product Developments New Entrants are Likely to Enter This Market
Figure 33 The Multi-Factor Authentication Market, By Model
Figure 34 Two-Factor Authentication: Largest Market Share in the MFA Market Between 2015 and 2020
Figure 35 Smart Card With Pin is Expected to Dominate the Two-Factor Authentication Market During the Forecast Period
Figure 36 North America is Expected to Have the Largest Market Share for the Two-Factor MFA Market During the Forecast Period
Figure 37 Pin With Two Biometric Technology is Expected to Grow at the Highest Rate From 2015 to 2020
Figure 38 North America is Expected to Have the Largest Market Value in the Three-Factor MFA Market From 2015 to 2020
Figure 39 APAC Region is Expected to Grow With A High Growth Rate in the Four-Factor MFA Market From 2015 to 2020
Figure 40 North America is Expected to Have the High Market Share in the Five-Factor MFA Market From 2015 to 2020
Figure 41 Segmentation of the Multi-Factor Authentication Market: By Application
Figure 42 Banking & Finance Application is Expected to Have the Highest Market Share From 2015 to 2020
Figure 43 Travel & Immigration Application: the APAC Region is Expected to Grow at A High CAGR Between 2015 and 2020
Figure 44 Two-Factor E-Security Methods
Figure 45 Attacks Prevented Using Authentication in Homeland Security
Figure 46 North America is Expected to Lead the Government Application Market in MFA By 2020
Figure 47 The RoW Region is Expected to Grow at the Highest Growth Rate in the Government Application in the MFA Market Between 2015 and 2020
Figure 48 Asia-Pacific Region is Expected to Grow at the Highest CAGR in Banking & Finance Application From 2015 to 2020
Figure 49 Commercial Security Application: the APAC Region to Show A High Growth Rate in MFA Between 2015 and 2020
Figure 50 The APAC Region is Expected to Grow at the A Highest Market Value in Consumer Electronics Application for MFA From 2015 to 2020
Figure 51 North America Expected to Grow at A High Rate for Healthcare Application in MFA Market By 2020
Figure 52 North America is Expected to Lead the Other Applications in the MFA Market By 2020
Figure 53 Multi-Factor Authentication Market, By Geography
Figure 54 Geographic Snapshot- RoW Region is Estimated to Register the Highest Growth Rate During the Forecast Period
Figure 55 The U.S. is Estimated to Dominate the MFA Market Between 2015 and 2020
Figure 56 Segmentation: North America
Figure 57 The North American Market Snapshot: The Market is Expected to Be Driven By the Growing Demand From Banking & Finance Application During the Forecast Period
Figure 58 Segmentation: Europe
Figure 59 Europe Market Snapshot: The Demand for MFA Would Be Driven From the Banking & Finance Application During the Forecast Period
Figure 60 Segmentation: Asia-Pacific
Figure 61 APAC Market Snapshot: The Demand Would Be Driven By the Presence of Major Players in the Region and Growing Regional Economy
Figure 62 Segmentation: Rest of the World
Figure 63 RoW Market Snapshot: The Demand Would Be Driven By the Developing Economies and Growing Infrastructure of the Region
Figure 64 Key Growth Strategies Adopted By Top Companies Between 2012 and 2015
Figure 65 Market Evaluation Framework-New Product Launches Fuelled Growth and Innovation in 2013 and 2014
Figure 66 Battle for Market Share: New Product Launches Was the Key Strategy
Figure 67 Geographic Revenue Mix of Major Market Players
Figure 68 Safran SA: Company Snapshot
Figure 69 Safran SA : SWOT Analysis
Figure 70 NEC Corporation: Company Snapshot
Figure 71 NEC Corporation : SWOT Analysis
Figure 72 3M: Company Snapshot
Figure 73 3M : SWOT Analysis
Figure 74 Gemalto NV: Company Snapshot
Figure 75 Gemalto NV : SWOT Analyst
Figure 76 RSA Security Llc. : SWOT Analysis
Figure 77 CA Technologies: Company Snapshot
Figure 78 Fujitsu Ltd.: Company Snapshot
Figure 79 Suprema, Inc.: Company Snapshot
Figure 80 Vasco Data Security International, Inc.: Company Snapshot

This report on the multi-factor authentication market is aimed towards analyzing the major application segments such as government, defense, travel and immigration, banking and finance, consumer electronics, commercial security and healthcare. The most common application areas in the field of multi-factor authentication are banking & finance, government, and defense.

Multi-factor authentication can be described as authenticating a person on the basis of factors provided by that person. The factors can be classified under three broad categories: “Something you have”, “Something you know”, and “Something you are”. These three factors can be hardware tokens, PIN, passwords, biological traits, and so on. Another type of authenticating factor is OTP (One Time Password), which is gaining popularity in Europe and North America. Multi-factor authentication (MFA) provides a high degree of security, which ensures confidentiality of personal information. This is superior to traditional one-factor username and passwords/PINs as these are easily guessed, and forgotten.

This report describes the market trends, drivers, and challenges of multi-factor authentication market and forecasts the multi-factor authentication market from 2013 to 2020, based on applications of the multi-factor authentication and geography. It covers regions such as North America, Europe, APAC, and the RoW (Rest of the World).

The global multi-factor authentication (MFA) market was valued at USD 3.60 Billion in 2014 and is expected to reach USD 9.60 Billion by 2020, at an estimated CAGR of 17.7% from 2015 to 2020.

In the past few years, MFA technologies have made their way across various applications such as travel, immigration and transportation, government, banking & finance, consumer electronics, healthcare, commercial security, and other applications. ”MFA technologies” work on the principle of identifying an individual by the information provided and/or their physical and behavioral traits (biometrics). The growth of this market can be attributed to factors such as increasing online transactions, increasing national and network security threats, and the increasing government expenditure on national security. The major companies involved in multi-factor authentication market are 3M (U.S.), RSA Security, LLC (U.S.), Vasco Data Security (U.S.), Gemalto NV (Netherlands), Safran SA (France), Fujitsu, Ltd. (Japan), CA Technologies (U.S.), NEC Corporation (Japan), HID Global (U.S.), and Cross Match Technologies (U.S.) among others.

In multi-factor authentication market, two-factor authentications contribute for the largest percentage share, whereas banking & finance is the major application; followed by government and defense. In the geographic analysis, North America is the market leader followed by the European and APAC regions.

Multi Factor  Authentication Market

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