Multi Factor Authentication Market Share, Growth, Trends and Forecast by 2024

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Multi Factor Authentication Industry Share,
Statistics, Trends, Forecast Report, 2024 Global
Market Insights, Inc.
Fuel Cell Market size worth 25.5bn by 2024
2
Regional Analysis of Multi Factor
Authentication Market

• The multi factor authentication market in the
  U.S. accounts for the major revenue share. The
  growth is credited to the presence of developed
  IT infrastructure, financial institutes, and the
  rising requirement for dependable authentication
  models. In the region, several banks have
  prompted the adoption for these models. In 2016,
  the U.S. Homeland Security launched an airport
  biometric scanning system which is helping track
  the immigration in the country through iris and
  facial recognitions and is aiding the government
  identify non-U.S. citizens.
• The Asia Pacific multi factor authentication
  market is anticipated to witnesses robust growth
  owing to the improving economic conditions in
  developing countries such as China, India and
  Japan. Increasing usage of smartphones and
  demonetization effect in India has shown a
  growing usage for e-wallets and mobile payment
  applications, which in turn demands for added
  security.

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• Application Analysis of Multi Factor
  Authentication Market
• The multi factor authentication market is
  segmented based on the technology models such as
  five factor, four factor, three factor and two
  factor, authentication models. These models are
  mainly being implemented for identifying an
  individual through ones information or physical
  traits. One time password (OTP) and smart cards
  with PINs are the commonly used two factor
  authentication techniques. The OTP authentication
  is widely gaining approval in the developed
  countries. Biometric based multi factor models
  are growing at a speedy pace as they are
  providing high convenience and security which are
  gaining popularity, thereby boosting the multi
  factor authentication market demand.
• The technology is being implemented across
  several industries such as commercial security,
  consumer electronics, BFSI, aerospace defense,
  healthcare, government, transportation and travel
  immigration. The BFSI industry is a key segment
  which is anticipated to lead the multi factor
  authentication market growth. Three factor models
  are being commonly used in BFSI segment owing to
  its usage in restricted access areas such as bank
  lockers.

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Competitive Market Share of Multi Factor
Authentication Market

• Key players involved in the multi factor
  authentication market are 3M, Cross Match
  Technologies, ACTivIdentity Inc., CA
  Technologies, Confident Technologies, Deepnet
  Security Ltd., Dell Technologies, Entrust Inc.,
  Fujitsu Ltd., Gemalto NV., HID Global, Lumidigm,
  NEC Corporation, Passfaces, RCG Holding, RSA
  Security LLC, Safran SA, Sagem Morpho, SMS
  Passcode A/S, Safe TLC, SecuGen, Securenvoy Ltd.,
  Suprema Inc., Technology Nexus AB, Vasco Data
  Security, Watchdata Technologies and ZK Software.

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