The global Two-factor authentication market is expected to hit USD$ ~8.78 Billion by 2023, growing at ~19.6% of CAGR between 2017 and 2023.
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Market Research Future published a research report on “Global Two-Factor Authentication Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Market Synopsis of Two-Factor Authentication Market
Two Factor Authentication, also known as 2FA, two step verifications. The emerging trends of market dynamics, industry structure and developments, market share assessments for the regional and country level segments, the Two-Factor Authentication Market is derived by the increase in volume of online transactions, high level of security provided by hardware OTP tokens, adherence to compliance mandates and the Challenges are the inconvenience of carrying hardware tokens and vulnerability to threats, lack of telecom infrastructure in developing countries, rise in number of technical defects and others.
The study indicates that low-cost, safe and secure authentication infrastructure to support a variety of cloud services.
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It gives the PKI service more flexibility so that users can authenticate to cloud applications on any computer or device, at the office, or at home. Two Factor Authentication process can help to lower the number of cases of identity theft on the Internet, as well as phishing via email.
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The prominent players in the Two-factor authentication system Market are –Fujitsu Ltd. (Japan), VASCO Data Security International Inc.
(US), HID Global Corporation/ASSA ABLOY AB (Sweden), Safran S.A (France), Gemalto NV (the Netherlands), NEC Corporation (Japan), CA Technologies (US), RSA Security LLC (US), Suprema HQ Inc. (South Korea), Crossmatch Technologies Inc.
(US) and 3M Company(US), among others.
The global Two-factor authentication system market has been segmented on the basis of types, model, technology, end -users and region.
Two-factor authentication system Market by Types:
- One-time passwords
- Public key infrastructure
Two-factor authentication system Market by Model:
- Smart Card with Pin
- Smart Card with Biometric Technology
- Biometric Technology with Pin
- Two-Factor Biometric Technology
- One Time Password with Pin
Two-factor authentication system Market by Technology:
- Physical and Logical Access Control
- SafeNet OTP Authenticators
- Out-of-Band Authenticators
- MobilePKI Office Suite
- PKI Authenticators
Two-factor authentication system Market by End-User:
- Banking and Finance
- Consumer Electronics
- Travel and Immigration
- Military and Defense
- Commercial Security
Two-factor authentication system Market by Regions:
- North America
- Rest of the World
Study Objectives of Two-Factor Authentication Market:
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the Global Two-Factor Authentication Market
- To provide insights about factors affecting the market growth
- To analyze the Two-Factor Authentication market based on various factors- supply chain analysis, porter’s five force analysis
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW)
- To provide country level analysis of the Market with respect to the current market size and future prospective
- To provide country level analysis of the Market for segment by Capacity, Battery Type, Power bank Type, No. of USB ports and sub-segments.
- To provide strategic profiling of key players in the Market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
- To Track and Analyze competitive developments such as Joint Ventures, Strategic Alliances, Mergers and acquisitions, new product developments, and research and developments in the Global Two-Factor Authentication Market.
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The regional analysis of Two-factor authentication market is being studied for region such as Asia pacific, North America, Europe and Rest of the World. The Two-Factor Authentication analyses the market potential for each geographical region based on the growth rate, macroeconomic parameters, and consumer buying patterns, demand and present scenarios in Two-Factor Authentication industry.
The Key Vendors such as Entrust, Gemalto, RSA Security, SecurEnvoy, VASCO Data Security International, and many more are the major player in this market. The Two-Factor Authentication Market report includes company share analysis for the major companies operating in this market by major regions.
Europe market in 2016, owing to major Two-factor authentication manufacturing companies based out here. This region is expected to grow further in the coming years of the Two-factor authentication market
- Raw material providers
- Companies in the MFA technology market
- Authentication applications and software designing companies
- Electronics and semiconductor companies
- Investment community interested in the MFA technology market
- Research institutes and organizations
- Market research and consulting firms
- Government and financial institutions
- Research institutes and organizations
- Technology standards organizations
- Technology investors
- Research institutes
- System Integrators
- Research/Consultancy firms
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