Multi-Factor Authentication Market to Grow at a CAGR of 17.3% to 2017 adds report “Multi-Factor Authentication Market – By Model/Type [Two, Three, Four & Five-Factor], Application [Banking & Finance, Healthcare, Government, Defense, Travel & Immigration, Consumer Electronics & Commercial Security] & Geography – Forecasts (2012 – 2017)” to its store.

The global multi-factor authentication (MFA) market which includes different types of authentication and applications is expected to reach $5.45 billion by 2017 at an estimated CAGR of 17.3% from 2012 to 2017. Two-factor authentication is most widely used MFA model in the world with smartcard with PIN and one time password (OTP) are 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 has the fastest growing region.

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Some of the key developments in the authentication industry include Microsoft (U.S.) buying PhoneFactor (U.S.) in October 2012. In July 2012, Apple Inc. (U.S.) bought AuthenTec (U.S.). L1 Identity, a biometric technology company was bought by Sagem Morpho (France). Several other acquisitions, mergers, new product launch, agreements etc. have happened and are discussed in the report.

The report estimates the multi factor authentication market, forecasts the size of MFA technologies by models, by applications, and by geography from 2012 to 2017. It talks about the latest events in the market under winning imperatives and burning issues. We further segment the models by two-factor authentication, three-factor authentication, four-factor authentication, and five-factor authentication. These models are used in different industries according to the security requirements. Two-factor and three-factor authentication models are further segmented into different types of models.

This report segregates the overall multi-factor authentication market into various application areas such as government, defence, banking and finance, travel and immigration, healthcare, consumer electronics, commercial security, and others. Increasing security concerns, use of MFA in banking & finance, use of MFA via smartphones, increasing cybercrime, etc. give rise to MFA market.

This report deals with all the driving factors, restraints, and opportunities with respect to the MFA market, which are helpful in identifying trends and key success factors for the industry. It also profiles companies active in the field of MFA technology. The report provides the competitive landscape of the players, which covers key growth strategies followed by all the major players. It also highlights the winning imperatives and burning issues pertaining to the MFA industry. It does analyze the MFA technology market with the help of Porter’s five-force model.

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Scope of the report

This research report categorizes the global MFA technology, based on types of authentication and applications market; it also covers the forecasted revenue from 2012 to 2017 and future applications of MFA market. It also shows the various activities that are being conducted by different institutes and universities. It describes the deployments of MFA technology in various regions. The report describes the applications mapping the MFA market with respect to the growth potential and adoption by the users.

On the basis of types of authentication (Model)

The global MFA market is categorized into various models such two-factor, three-factor, four-factor, and five-factor authentication. Two-factor authentication is further segmented into smartcard with PIN, smartcard with biometric technology, PIN with biometric technology and two biometric technologies. Similarly, a three-factor authentication model is segmented into smartcard with PIN and biometric technology, smartcard with two biometric technologies, PIN with two biometric technologies, and three biometric technologies.

On the basis of application areas

Application areas of biometric technology have been categorized into government, travel and immigration, defense, banking and finance, healthcare, consumer electronics and commercial security.

On the basis of geography

Geographical analysis covers North America, Europe, Asia-Pacific, and ROW. In this report, North America is further segregated by countries such as U.S., Canada, and Mexico. Europe is further segregated into Germany, U.K., France, Italy, and others. APAC is segregated into Australia, China, Japan, South Korea, and India. ROW is segregated into Africa and Middle East.

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