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Two-Factor Authentication Market


Two-Factor Authentication Market (MFA) report segments multi-factor authentication by type such as Smart Card with pin, Smart Card with Biometric Technology, Multifactor Biometric Technology and Smart Card with Pin and Biometric Technology. – PowerPoint PPT presentation

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Title: Two-Factor Authentication Market

MarketsandMarkets Presents
Two-Factor Authentication Market worth 5.45
Billion by 2017
According to a new market research report Two
Factor Authentication Market- By Model / type
(two, three, four five-factor), Application
(Banking Finance, Healthcare, Government,
Defense, Travel immigration, Consumer
Electronics and Commercial Security) by
Geography Forecasts (2012 2017) published by
MarketsandMarkets (,
the total market is expected to reach 5.45
billion by 2017, at a CAGR of 17.3. Browse
118 market data tables with 31 figures spread
through 275 pages and in-depth TOC of "Two Factor
Authentication Market- By Model / type (two,
three, four five-factor), Application (Banking
Finance, Healthcare, Government, Defense,
Travel immigration, Consumer Electronics and
Commercial Security) by Geography Forecasts
(2012 2017)". http//
-877.html Early buyers will receive 10
customization on reports.
Multi-factor authentication (MFA) implies user
and employee authentication by verifying two or
more authentication techniques (hardware token,
One Time Password, Password/PIN, and biometric
traits) provided by him/her. MFA has become the
most important part of security due to increase
in unauthorized access, frauds, border intrusion,
etc. MFA is increasingly getting deployed at all
the security checkpoints of airports, commercial
complex, retail malls, banking finance, etc.
MFA provides accurate authentication and
negligible margin of duplicity or error. This
report describes the various types of biometric
and non-biometric technologies such as hardware
and software tokens, OTP (One Time Password), and
biometric recognition that are being used for
different applications. The above-mentioned
techniques can be combined to form two-, three-,
four-, and five-factor authentication models. Out
of these models, two-factor authentication is
commonly used in most of the applications.
Two-factor authentication is the oldest type of
MFA technique and can be seen at banks, ATMs, and
various government offices.
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 is slowly spreading across all the
industries wherever security is of the prime
concern. MFA is largely deployed in the
application areas like government, travel and
immigration, banking finance, and defense.
Two-factor authentication model covers almost
90 of the market for multi-factor
authentication, wherein banking finance, travel
immigration, 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. Glob
al MFA 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.
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