Two-Factor Authentication Market 2018 Global Leaders Overview: Suprema HQ, Gemalto NV, NEC Corporation, CA Technologies, RSA Security LLC, Crossmatch Technologies, 3M Company, Fujitsu

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.

Global Two-Factor Authentication Market – Overview

Two Factor Authentication also referred as 2FA or two-step verification process provides an added layer of security, wherein the user is asked to pass through two authentication dynamics like ID and password. 2FA makes it difficult for attackers to get the access to a person's online accounts, related applications, and other similar devices.

2FA is predominantly used in many burgeoning sectors such as Banking and Finance, Government, Military and Defense, Commercial Security and most importantly eCommerce. Wherein it is integral to control access to sensitive systems & data, or online transactions and services. These industries introduce 2FA to secure their users' data from being breached by intruders who have already obtained user’s password. Implementation of a Two Factor Authentication process ensures lowering the number of cases of authentication/identity theft using phishing, internet, and others.

Over the past couple of years, owing to the technological advancements coupled with some of the emerging and fast-growing industries such as crypto-currency, eCommerce and others, Two Factor Authentication technology is perceiving a huge uptake and demand across the world. These factors are substantiating the market to grow, accelerating on a global platform.

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Considering the rapid expansions the market perceives currently and the potential of the market to grow further, Market Research Future (MRFR) recently published a study report, giving out market forecast up to 2023. In its analysis, MRFR asserts that the global Two Factor Authentication market will reach USD ~8.78 Billion, registering a staggering double digit CAGR of ~19.6% between 2017 and 2023.

Factors such as the proliferation of Internet coupled with the increased online transactions, the consecutive threats of the security breach are predominantly contributing to the market growth. Advent 3G/4G/5G devices are expected to foster the online transactions further, leading to the increased adoption of 2FA Technology. Implementation of cloud-based 2FA is the latest trend observed during the analysis.

On the other hand, high initial investment, and maintenance cost of hardware & software based 2FA technology are some of the factors impeding the market growth.

Key Players

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.

Segments:

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
• Others

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
• Others

Two-factor authentication system Market by Technology:

• Physical and Logical Access Control
• SafeNet OTP Authenticators
• Out-of-Band Authenticators
• MobilePKI Office Suite
• PKI Authenticators
• Others

Two-factor authentication system Market by End-User:

• Banking and Finance
• Consumer Electronics
• Healthcare
• Government
• Travel and Immigration
• Military and Defense
• Commercial Security
• Others

Two-factor authentication system Market by Regions:

• North America
• Europe
• APAC
• Rest of the World

Regional Analysis:

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

Industry/ Innovation/ Related News:

May 19, 2018 – Officials at the KrisFlyer, Singapore Airline’s frequent flyer program announced the implementation two-factor authentication to tighten the account security further. The implementation expected to take place on June 29th is based on some reports of compromised accounts.

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Intended Audience

• 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

About Us:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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