London, 19 May 2014: TechNavio, the independent tech-focused global research firm, has published their market research report on the Global Multi-Factor Authentication Market, which is growing at a CAGR of 19.31 percent from 2013-2018.
The report pinpoints employee mobility and a major increase in attacks on government installations as key drivers prompting market growth. Further, the report looks at several prominent market trends, including the use of phone-based authentication, which will be of interest over the forecast period.
Components of Multi-Factor Authentication
Multi-factor authentication is being widely adopted as a technique for enhancing security systems with the help of two or more unrelated forms of authentication, thereby protecting against unauthorized access and confirmations.
These authentication systems mainly use credentials such as passwords, PINs, cell phones, security tokens, smart cards, and biometrics for authentication.
Research from TechNavio finds increased popularity of phone-based authentication solutions to be a significant market trend.
"Advantages such as high scalability, no requirement to carry extra hardware, and easy implementation have increased the adoption of phone-based authentication solutions in comparison with traditional hardware tokens," says Faisal Ghaus, Vice President of TechNavio.
Phone-based authentication can generate one-time passwords and can be used for biometric scanning. Adopting these security measures is beneficial for organizations, since many people already carry a cellphone, and there is no need to invest further hardware tokens.Some key vendors in this market include:
- EMC Corp.
- Entrust Inc.
- Gemalto NV
- VASCO Data Security International Inc.
To determine the scenario for these vendors in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.If you are interested in more information on this topic and our upcoming research on the Global Multi-Factor Authentication Market please send an e-mail to media@TechNavio.com.