Global Multi-factor Authentication Market Overview:Authentication of user identity ensures secure online transactions, log on to online services, and access to corporate resources. Compromised credentials are the main cause of data breaches. Multi-factor authentication is used by organizations to implement an additional layer of security that requires users to authenticate via knowledge, possession, and inherence factors to gain access to corporate and social networks.
This report studies the Multi-factor Authentication market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Multi-factor Authentication market by product type and applications/end industries.
There is an increasing concern about data privacy across the globe. Numerous countries have introduced countermeasures by formulating regulations like HIPAA for the healthcare sector and the Gramm-Leach-Bliley Act GLBA , Basel II, PCI DSS, and SOX for the BFSI sector. These regulations offer complete guidelines related to end-user authentication that are essential before granting users access to confidential data. Organizations need to comply with the regulations specific to their regions and the non-compliance with rules can invite penalties. The stringency of the regulatory requirements for data security will contribute to the market’s growth during the forecast period.
The global Multi-factor Authentication market is valued at $$ million USD in 2017 and is expected to reach $$ million USD by the end of 2023, growing at a CAGR of $$% between 2017 and 2023.
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The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Multi-factor Authentication.
Europe also play important roles in global market, with market size of $$ million USD in 2017 and will be $$ million USD in 2023, with a CAGR of $$%.
Market Segment by Companies, this report covers
Entrust
Gemalto
RSA Security
SecureAuth
VASCO Data Security International
CA Technologies
Deepnet Security
Early Warning Services
Fujitsu
HID
IBM
Safran
SecurEnvoy
SecuTech Solutions
Swivel Secure
Symantec
MARKET SEGMENT BY TYPE, COVERS
Multi-factor authentication products
Multi-factor authentication services
MARKET SEGMENT BY APPLICATIONS, CAN BE DIVIDED INTO
Hardware OTP token
Phone-based authentication
Smart Card-based authentication
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