Two-Factor Authentication Market 2020 -2027: Key players are SAP SE (Germany), HCL Technologies Limited (India), Infosys Limited (India), Tata Consultancy Services (India), Capgemini SE (France), Temenos Group AG (Switzerland), Misys (U.K.), Fidelity Nati

Two-Factor Authentication Market Share Scenario:
The increasing online frauds and dangers from cybercrime have pushed the service providers to enhance their security services, for which Two-Factor Authentication Market is employed. It is a multistage verification procedure, which is accessible by the user only. Data theft and online dangers have helped the market in gaining desired growth rates during this period. On observing the current market trends, the global two-factor authentication market is expected to touch an 18 % annual growth mark during the survey period. It includes one-time passwords (OTPs), biometric identification, and other methods.

In this digitally sound world, the demands for data and safeguard of the service user are some of the major factors responsible for the rising preference for this security method. This authentication procedure acts as an extra layer of security, which makes it difficult for an unauthorized person to access the transmitted information and enhance safety. The adoption of online funds transfer has pushed the banking sector to add extra security measures to its system to provide financial security to its customers.

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The lack of security infrastructure on the other hand will challenge multi-factor authentication sector based organizations functioning in the global Two-Factor Authentication Market Share. Analysts have split the market into type, model, technology, and end-user segments based on products and services. Multi-factor authentication based companies have been profiled. The unavailability of professional services is set to affect the global market during the forecast period 2019 to 2024. The report also provides the market’s performance forecasts till 2024.

Competitive Outlook:

EMC Corporation (U.S.), Gemalto N.V. (Netherlands), Amazon Web Services Inc. (U.S.), Entrust Inc. (U.S.), The 3M Company (U.S.), Safran S.A. (France), NEC Corporation (Japan), Fujitsu Ltd (Japan), Cross Match Technologies Inc. (U.S.), RCG Holdings Limited (Malaysia), ValidSoft (U.K), Suprema Inc. (South Korea), Sagem Morpho (U.S.), Deepnet Security Ltd, Confident Technologies Inc. (U.S.), Watchdata Technologies (Singapore) and Technology Nexus (U.S.) and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global Two-Factor Authentication Market Share.

Segmentation:
• The global Two-Factor Authentication Market Share is classified into 5 key segments for the convenience of the report and enhanced understanding;
• Segmentation by Type: Comprises of one key password, public key infrastructure and others.
• Segmentation by Model : Comprises of smart card with pin, smart card with biometric technology, biometric technology with pin, two-factor biometric technology, one time password with pin and others.
• Segmentation by Technology: Comprises of physical and logical access control, SafeNet OTP authenticators, out-of-band authenticators, MobilePKI office suite, PKI authenticators and others.
• Segmentation by End User: Comprises of banking and finance, consumer electronics, healthcare, government, travel and immigration, military and defense, commercial security and others.
• Segmentation by Regions: Comprises Geographical regions - North America, Europe, Asia Pacific and Rest of the World.

Regional Analysis:

North America, Asia Pacific or APAC, Europe, and Rest of the World or RoW are the top markets for two-factor authentication solutions.

In 2018, studies identified North America as the most lucrative market with the value of USD 1,327.7 million. MRFR also reveals that the regional market can advance at an incredible growth rate of 16.59% between 2019 and 2024. Most of the region’s market will most likely be concentrated in Canada and the U.S, thanks to the humungous pool of celebrated players like Amazon Web Services Inc., EMC Corporation, The 3M Company and Entrust Inc., and more. These companies are continuously coming up with different strategies to draw in more consumers and expand their business in the region. To illustrate, in April 2019, Google developed a security solution called 2SV, which is a two-factor authentication process. It offers the users the ability to activate the built-in security option in Chrome of Android smartphones.

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The market for two-factor authentication in APAC can procure a significant growth rate, because of the surge in the IT technology and the uptake in bring your own devices across enterprises. China seems to be the highest expanding market in the region, in line with the advancements in the electronic information technology and the continuously rising cyber-attacks, especially in the banking sector.

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