Multi-Factor Authentication Market

by Harry W. Analyst

The global multi-factor authentication (MFA) market has shown remarkable progress in the recent years and is also showing attractive market potential for the future. North America and Europe hold the largest market share of the global MFA market and Asia-Pacific is expected to be the fastest growing region in the coming years. The market is segmented into three major categories on the basis of model types into: two factor authentication, three factor authentication, and four factor authentication. It is divided into five major categories on the basis of applications into government, defense, banking and finance, consumer electronics, healthcare, commercial security, travel and immigration and transportation and others. The market is further segmented by geography into North America, Asia-Pacific, Europe, and the Rest of the World regions.

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This market is driven by factors such as the increasing security concerns for network, PC, and internet security, and the rising use of multi model authentication in banking and finance. The legislative compliance and increase in number of smartphones with MFA technology will also act as drivers for the global multi-factor authentication market. Some of the factors inhibiting the growth of the market are the high initial investment and complex maintenance. The low acceptance in several countries due to cultural reasons will also hinder the growth of the global multi-factor authentication market. The introduction of MFA in the gaming industry will also serve as an opportunity, fuelling the growth of the market.

Some of the market players in this industry are 3M, Cross Match Technologies, Fujitsu, Sagem Morpho, Securenvoy Ltd., Gemalto, Passfaces, RSA Security, Technology Nexus AB, Entrust, Inc., Nec Corp., ActivIdentity Inc., Deepnet Security Ltd., Identive Group, SafeTIC, SMS PASSCODE A/S, Entrust, Inc., Lumidigm, ZK Software, Suprema, Inc., Watchdata Technologies, RCG Holding, SecuGen, and Confident Technologies.

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