Two-Factor Authentication Market Growth, Trends, Price and Forecasts To 2021

Market Research analysts forecast the global 2FA market to grow at a CAGR of 23.57% during the period 2017-2021.

The following companies as the key players in the global 2FA market: Entrust, Gemalto, RSA Security, SecurEnvoy, and VASCO Data Security International
Other Prominent Vendors in the market are: Authenex, Authentify, Authy, Deepnet Security, DynaPass, Fortinet, HID Global, ID Control, Meontrust, Mi-Token, PointSharp, Protectimus Solutions, SecureAuth, SecurEnvoy, SecurStar, and Yubico

Commenting on the report, an analyst said: OOB authentication is a powerful tool used to prevent fraud. The OOB authentication software works with a secured communication channel. Enterprises use this technology for high-risk transactions to verify and authenticate the user's identity. The technology is used for authentication for both financial and non-financial transactions.”

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According to the report, consumers depend on the Internet to perform transactions. Online transactions are instant and easy. However, financial transactions are vulnerable to cyber attacks. Major vendors, such as Gemalto, are providing hardware OTP tokens with payment functionality for banking transactions. Some of Gemalto's offerings are EZIO onCard PAD, Ezio Talk Token, and EZIO Pico.

Further, the report states that hardware tokens are vulnerable to theft, and there are also possibilities that hardware OTP tokens may not get recognized by the transaction systems in use. The hardware OTP token is an extra device that must be carried around, making it inconvenient for users.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

About Two-factor Authentication (2FA)

Data security is a primary concern for enterprises, government organizations, and individuals. The popular methods for protecting sensitive data and assets include identity badges, numeric keypads, and PINs. However, these verification methods are vulnerable to hacking attempts. The advanced 2FA solutions prevent data breach by using verification techniques like hardware OTP authentication, smart card-based authentication, phone-based authentication, and biometrics. The 2FA solutions require two types of credentials to verify a person's identity or a transaction. This creates an additional layer of security that makes it difficult for an unauthorized person to access a database or computing device. The surge in online transactions through mobile devices, such as smartphones, laptops, and tablets, for banking and e-commerce, has increased the urgency for 2FA.

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Covered in this report

The report covers the present scenario and the growth prospects of the global 2FA market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of 2FA products and services.

The market is divided into the following segments based on geography:
APAC
Europe
MEA
North America
South America

Global 2FA Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
Entrust
Gemalto
RSA Security
SecurEnvoy
VASCO Data Security International

Other prominent vendors
Authenex
Authentify
Authy
Deepnet Security
DynaPass
Fortinet
HID Global
ID Control
Meontrust
Mi-Token
PointSharp
Protectimus Solutions
SecureAuth
SecurEnvoy
SecurStar
Yubico

Market driver
Increase in volume of online transactions
For a full, detailed list, view our report

Market challenge
Lack of telecom infrastructure in developing countries
For a full, detailed list, view our report

Market trend
Growing adoption of unified platforms for authentication purposes
For a full, detailed list, view our report

Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?

You can request one free hour of our analyst’s time when you purchase this market report. Details are provided within the report.

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