openPR Logo
Press release

Multifactor Authentication Market - BFSI to be Key End User of Multifactor Authentication Models

Multifactor Authentication Market - BFSI to be Key End User

Transparency Market Research observes that the competitive landscape in the global multifactor authentication market is highly fragmented due to presence of several players. The report anticipates that mergers and acquisitions will remain important to established players in order to gain entry into the untapped markets. For instance, in November 2017, Gemalto formed a partnership with Computer Gross to expand its geographical servings for security and authentication based products. Innovation and introduction of technically-sound products are expected to be the two most important strategies of the global market in the near future. The competition is expected to get tougher as the players focus on extension of services to the end users. The report identifies Gemalto, Entrust, EMC, and Vasco as the key players in the global multifactor authentication market.

Obtain Report Details @ https://www.transparencymarketresearch.com/multi-factor-authentication-market.html

According to the research report, the global multifactor authentication market is was valued at US$4,829.2 mn in 2016 and is expected to be worth US$20,444.9 mn by the end of 2025. During the forecast years of 2017 and 2025, the global market is expected to surge at a CAGR of 17.7%. In terms of models, the two-factor authentication model is expected to show tremendous progress as it’s a mere two-step verification process. Geographically, North America is expected to lead the global market as the region promises high adoption of multifactor authentication models amidst rising security concerns.


Banking and Finance Sector Stokes Demand

The global market for multifactor authentication is expected to witness a soaring demand in the near future as the need for better security solutions will always be consistent. Multifactor authentication models are predominantly used for guarding sensitive information of utmost importance. Thus, it is readily being adopted by governments and banking and finance sectors to secure their top level data, files, and information about services. This multilayered authentication system is based on the parameters of genetics, possession, knowledge, and location to access the system. Possession requirements include software and hardware tokens including keyfob, OTP and others. Genetic parameters include items such as facial biometric, fingerprint, and retina scanning. Knowledge parameters are inclusive of user name and password, PIN’s and answers to secret questions. To make all of these layers even more secure, location-based parameter adds an extra layer of authentication.

Such tight security measures are thus likely to revolutionize the way financial transactions are being secured. Furthermore, adoption of these models is expected to bring about tremendous security for projects that are under research and development. The report assesses that the two-factor authentication model is likely to gain maximum revenue in the near future as it a simpler verification process. It requires a combination of any of the two aforementioned parameters to give the end user a verified access. The growing number of cyber-attacks on financial institutions is expected to push the demand for multifactor authentication models. Furthermore, the stringent rules and regulations by governments across the globe to guard national secrets are also projected to augment the demand for these security measures.

Request a PDF Sample for this Research Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1400

High Initial Investment becomes a Deterrent

Despite the bright sentiment in the market, there are a few points that have been identified as potential restraint for the global multifactor authentication market. The initial high cost of investment in the setting up these authentication models is expected to dissuade several end users. Furthermore, the complication system of maintenance and high usage service time are also likely to have a negative impact on the overall market. However, on a positive note, introduction of cloud computing is expected open up several lucrative opportunities for the global multifactor authentication market.

Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations

Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: www.transparencymarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Multifactor Authentication Market - BFSI to be Key End User of Multifactor Authentication Models here

News-ID: 903315 • Views: 411

More Releases from Transparecny Market Research

Advanced Wound Care Management Market - Global Industry Analysis, Size, Share, G …
Advanced Wound Care Management Market - Overview The market for wound care is expanding significantly, due to increase in advancements in treating complex wounds. The advanced wound care market is anticipated to expand during the forecast period, as the products have been a promising solution for rapid recovery and wound healing. These products offer superior solution than traditional products by offering desired outcome and effectiveness in healing wounds. Increasing incidences of
Operating Room Equipment Market projected to expand at a CAGR of 6.4% from 2018 …
Transparency Market Research (TMR) has published a new report titled ‘Operating room equipment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.’ According to the report, the global operating room equipment market was valued at US$ 29,912.3 Mn in 2017. It is projected to expand at a CAGR of 6.4% from 2018 to 2026. Aging population and longer life-expectancy, increased awareness, and acceptance of advanced devices are
Hip Replacement Implants Market Size, Status, Scope and Growth Prospects
The global hip replacement implants market was valued at approximately US$ 7.0 Bn in 2017. It is projected to register a cumulative annual growth rate (CAGR) of over 3.5% from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled ‘Hip Replacement Implants Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.’ Expansion of the health care industry, government initiatives, increase in
Global 3D Applications in Health Care Market Industry Analysis Size, Share, Tren …
The global 3D application in health care market is categorized on the basis of application and type. Systems and services are segments that fall under the types of 3D applications. Out of these two, the services segment is projected to dominate the market in the coming years due to increasing demand for 3D imaging devices in the health care organizations 3D technology has come up as a blessing for the health

All 5 Releases


More Releases for Multifactor

Attractive Growth Opportunities in the Multifactor Authentication Market
The multifactor authentication market to grow from USD 6.0 billion in 2016 to USD 12.5 billion by 2022, at a compound annual growth rate (CAGR) of 15.52% during the forecast period. The major factors that are expected to be driving the multifactor authentication market are increase in data breaches & cyber-attacks and growing adoption of bring-your-own-device (BYOD) among enterprises. The objective of the report is to define, describe, and forecast
Multifactor Authentication Market: Cost Effectiveness of Two-Factor Authenticati …
Multi-factor authentication can be considered to be an emerging sector of the identity access management and may utilize many-fold methods of authentication to verify a user’s identity. Authenticating user identity ensures security during online transactions, while logging into online services, and accessing corporate resources. Credentials that have been compromised are the key cause resulting breach of data. Multi-factor authentication is thus utilized by enterprises in order to administer an extra
Multifactor Authentication Market - Banking and Finance Sector Stokes Demand
The global multifactor authentication market is highly fragmented due to presence of several players. The report anticipates that mergers and acquisitions will remain important to established players in order to gain entry into the untapped markets. For instance, in November 2017, Gemalto formed a partnership with Computer Gross to expand its geographical servings for security and authentication based products. Innovation and introduction of technically-sound products are expected to be the
Multifactor Authentication Market to Witness Steady Expansion During 2025
Global Multifactor Authentication Market: Snapshot This report on the global multifactor authentication market provides analysis for the period 2015–2025, wherein 2016 is the base year and the period from 2017 to 2025 is the forecast period. Data for 2015 has been included to provide historical information. The report covers market dynamics including drivers, restraints, opportunities, and trends expected to influence the global multifactor authentication market growth during the said period. Technologies
Global Multifactor Authentication Market Investigation & Development Forecast du …
Market Research Report Search Engine (MRRSE) recently announced the addition of a new research study to its comprehensive collection of research reports. The research report, titled “Multifactor Authentication Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 - 2025” offers a detailed analysis of the market, providing insights into the market dynamics that are expected to influence the overall market positively in the next few years. Furthermore,
Multifactor Authentication Market - BFSI to be Key End User of Multifactor Authe …
Multi-factor authentication is a multi-layered verification process, which identifies a user by authenticating any two of the main four parameters – possession (something the user has), knowledge (something the user knows), genetics (something the user inherits genetically) and location for accessing a system. Possession parameters can include different things such as software and hardware tokens including keyfob, OTP and more. Knowledge parameters can include things such as user name and