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Global Multi-factor Authentication Market 2017-2021

Global Multi-factor Authentication Market 2017-2021

About Multi-factor Authentication

The use of two or more authentication method is known as multi-factor authentication. The implementation of multi-factor authentication has been growing among several industry sectors because organizations are finding ways of increasing security and meeting the demands of industry and government regulations that require protection of sensitive consumer and employee information. Two-factor authentication is the most commonly used type of multi-factor authentication.

Technavio’s analysts forecast the global multi-factor authentication market to grow at a CAGR of 22.65% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global multi-factor authentication market for 2017-2021. To calculate the market size, the report considers multi-factor authentication products that include hardware products such as one-time password (OTP) tokens, USB tokens, mini tokens, subscriber identification module (SIM) tokens, and smart card tokens.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Multi-factor Authentication 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
  • SecureAuth
  • VASCO Data Security International
Other prominent vendors
  • CA Technologies
  • Deepnet Security
  • Early Warning Services
  • Fujitsu
  • HID Global
  • IBM
  • Safran
  • SecurEnvoy
  • SecuTech Solutions
  • Swivel Secure
  • Symantec
Market driver
  • High-level security provided by hardware OTP tokens
  • For a full, detailed list, view our report
Market challenge
  • Increase in cost of OTP tokens
  • For a full, detailed list, view our report
Market trend
  • Emergence of cloud-based multi-factor authentication
  • 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?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Multi-factor Authentication Market 2017-2021

Technavio recognizes the following companies as the key players in the global multi-factor authentication market: Entrust, Gemalto, RSA Security, SecureAuth, and VASCO Data Security International.

Other Prominent Vendors in the market are: CA Technologies, Deepnet Security, Early Warning Services, Fujitsu, HID Global, IBM, Safran, SecurEnvoy, SecuTech Solutions, Swivel Secure, and Symantec.

Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is emergence of cloud-based multi-factor authentication. The rise in maintenance costs for hardware and software-based two-factor and three-factor authentication models has aroused the interest of many companies in the adoption of cloud-based multi-factor authentication solutions. Vendors are integrating multi-factor authentication techniques with cloud due to the growing demand for cloud-based multi-factor authentication.”

According to the report, one driver in the market is high-level security provided by hardware OTP tokens. Hardware OTP tokens are based on the multi-factor authentication method. This requires the user to carry a hardware device for initial authentication, which is followed by a second level of authentication. The first round of authentication keeps off the user from accessing critical information without the hardware. Hence, hardware OTP tokens ensure proper user authentication and help prevent potential network intrusions. The hardware device promotes mobility and does not require a third party to interfere for identity management.

Further, the report states that one challenge in the market is increase in cost of OTP tokens. High initial deployment and replacement costs have increased the total cost of OTP tokens. The total cost of OTP tokens includes the initial pricing and licensing model, infrastructure and hardware requirements, token warranty, and effort and resources required for deploying and managing the solution. This is because regions, such as Latin America and Eastern Europe, have limited vendor penetration. Vendors that operate in these regions are the US and European players such as Entrust, RSA Security, and VASCO.

Companies Mentioned

Entrust, Gemalto, RSA Security, SecureAuth, and VASCO Data Security International.

Other Prominent Vendors in the market are: CA Technologies, Deepnet Security, Early Warning Services, Fujitsu, HID Global, IBM, Safran, SecurEnvoy, SecuTech Solutions, Swivel Secure, and Symantec.

  • Executive summary
  • Scope of the report
  • Research Methodology
  • Introduction
    • Market outline
    • Multi-factor authentication architecture
      • Table Multi-factor authentication: Architecture
    • Comparison between single-factor, two-factor, and multi-factor authentication
      • Table Comparison between single-factor, two-factor, and multi-factor authentication
    • Advantages of multi-factor authentication
    • Regulations related to multi-factor authentication
      • Table Multi-factor authentication market: Regulations and their depictions
    • Types of authentication keys
  • Economic overview
    • Global economic overview and its impact on the market and vendors
  • Market landscape
    • Market overview
    • Market assumptions
      • Table Multi-factor authentication market assumptions
    • Market size and forecast
      • Table Global multi-factor authentication market 2016-2021 ($ billions)
  • Market segmentation by component
    • Global multi-factor authentication market by component
      • Table Global multi-factor authentication market by component 2016-2021 (% share of revenue)
    • Global multi-factor authentication market by services
      • Table Global multi-factor authentication market by services 2016-2021 ($ billions)
    • Global multi-factor authentication market by products
      • Table Global multi-factor authentication market by products 2016-2021 ($ billions)
  • Market segmentation by application
    • Global multi-factor authentication market by application
      • Table Global multi-factor authentication market segmentation by application 2016-2021 (% share of revenue)
    • Global smart card-based multi-factor authentication market
      • Table Global smart card-based multi-factor authentication market 2016-2021 ($ billions)
    • Global phone-based multi-factor authentication market
      • Table Global phone-based multi-factor authentication market 2016-2021 ($ billions)
    • Global hardware OTP token multi-factor authentication market
      • Table Global hardware OTP token multi-factor authentication market 2016-2021 ($ billions)
  • Market segmentation by end-user
    • Global multi-factor authentication market by enduser
      • Table Global multi-factor authentication market segmentation by end-user 2016-2021 (% share of revenue)
    • Global multi-factor authentication market by BFSI
      • Table Global multi-factor authentication market by BFSI 2016-2021 ($ billions)
    • Global multi-factor authentication market by PCI
      • Table Global multi-factor authentication market by PCI 2016-2021 ($ billions)
    • Global multi-factor authentication market by government
      • Table Global multi-factor authentication market by government 2016-2021 ($ billions)
    • Global multi-factor authentication market by healthcare
      • Table Global multi-factor authentication market by healthcare 2016-2021 ($ billions)
  • Geographical segmentation
    • Global multi-factor authentication market by geography
      • Table Global multi-factor authentication market by geography 2016-2021 (% share of revenue)
      • Table Global multi-factor authentication market by geography 2016-2021 ($ billions)
  • Buying criteria
    • Table Multi-factor authentication: Buying criteria
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
  • Market trends
    • Introduction of OOB authentication
    • Emergence of cloud-based multi-factor authentication
    • Increased adoption of unified platforms for authentication purposes
  • Five forces analysis
    • Table Five forces analysis
  • Vendor landscape
    • Competitive scenario
    • Vendor matrix
      • Table Key vendors: Product offerings
      • Table Key vendors: Features
      • Table Key vendors: Applications
      • Table Key vendors: Industries served
      • Table Key vendors: Geographical presence
    • Comparative chart for vendors
      • Table Key vendors: Comparative chart
    • Key vendor analysis
    • Other prominent vendors
      • Table Other prominent vendors
  • Mergers and acquisitions
    • M&A in the market
      • Table Global multi-factor authentication market: M&A
  • Appendix
    • List of abbreviations
  • Explore Technavio

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