Multi-Factor Authentication Market worth 9.60 Billion USD by 2020

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MarketsandMarkets Presents
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 is expected to reach USD 9.60
Billion by 2020, growing at a CAGR of 17.7
between 2015 and 2020.
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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. Sample pages of the Report
http//www.marketsandmarkets.com/PressReleases/m
ulti-factor-authentication.asp Availability of
cloud-based multi-factor authentication
technology has reduced the maintenance costs
typically associated with hardware and
software-based two-factor and three-factor
authentication models. Companies now prefer
adopting cloud-based authentication solutions
because the pay per use model is more cost
effective, and they offer improved reliability
and scalability, ease of installation and
upgrades, and minimal maintenance costs.
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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. Report Information
http//www.marketsandmarkets.com/Market-Reports/m
ulti-factor-authentication-market-877.html 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
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