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Global Two-Factor Authentication Market 2017-2021

Global Two-Factor Authentication Market 2017-2021

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.

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

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
Technavio's report, 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?


Press Release

Technavio Announces the Publication of its Research Report – Global 2FA Market 2017-2021

Technavio recognizes 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 from Technavio’s team 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.”

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.

Companies Mentioned

Entrust, Gemalto, RSA Security, SecurEnvoy, VASCO Data Security International, Authenex, Authentify, Authy, Deepnet Security, DynaPass, Fortinet, HID Global, ID Control, Meontrust, Mi-Token, PointSharp, Protectimus Solutions, SecureAuth, SecurEnvoy, SecurStar, Yubico.

  • Executive summary
  • Scope of the report
  • Research Methodology
  • Introduction
    • Key market highlights
    • 2FA
    • Comparison between 2FA and MFA
      • Table 2FA versus MFA
    • Advantages of 2FA
    • Regulations related to MFA
      • Table Regulations and their depictions
    • Types of authentication keys
  • Economic overview
  • Market landscape
    • Market overview
    • Market assumptions
      • Table Market assumptions
    • Market size and forecast
      • Table Global 2FA market 2016-2021 ($ billions)
  • Market segmentation by end-user
    • Global 2FA market by end-user
      • Table Global 2FA market by end-user 2016-2021
      • Table Global 2FA market by end-user 2016-2021 ($ billions)
  • Geographical segmentation
    • Global 2FA market by geography
      • Table Global 2FA market by geography 2016-2021
    • Global 2FA market by geography (revenue)
      • Table Global 2FA market by geography 2016-2021 ($ billions)
  • Buying criteria
    • Table Buying criteria for 2FA
  • Market drivers
    • Increase in volume of online transactions
    • High level of security provided by hardware OTP tokens
    • Adherence to compliance mandates
    • Impact of drivers
      • Table Impact of drivers
  • Market Challenges
    • Inconvenience of carrying hardware tokens and vulnerability to threats
    • Lack of telecom infrastructure in developing countries
    • Rise in number of technical defects
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Introduction of OOB authentication
    • Emergence of cloud-based 2FA
    • Growing adoption of unified platforms for authentication purposes
  • Five forces analysis
    • Table Five forces analysis
  • Vendor landscape
    • Competitive scenario
    • Top-vendor offerings
      • Table Product offerings
    • Vendor matrix
      • Table Vendor matrix
    • Vendor rating
      • Table Vendor rating
    • Vendor highlights
      • Table Vendor highlights
    • M&A
      • Table M&A of vendors
    • Description of major vendors
    • Other prominent vendors
      • Table Other prominent vendors
  • Appendix
    • List of abbreviations
  • Explore Technavio

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