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Global Two-factor Biometrics Market 2016-2020

About the Two-Factor Biometrics Market

The rising occurrences of criminal activities in the BFSI, PCI, government, and healthcare, sectors are leading to a higher demand for cyber security solutions. There is a heightened need for highly reliable personal authentication and identification systems to reduce security risks. Two-factor biometric solutions are used to ensure physical and information security. Here, the user needs to provide the second piece of information — a code, a temporary password, or a finger swipe — to access credentials. If the user is unable to provide the correct information, the account remains locked.

Technavio’s analysts forecast the global two-factor biometrics market to grow at a CAGR of 22.87% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the global two-factor biometrics market for 2016-2020. To calculate the market size, the report considers revenue generated from the sales of two-factor biometric products and services.

  • Two-factor biometric products include hardware products such as one-time password (OTP) tokens, USB tokens, mini tokens, and subscriber identity module (SIM) tokens
  • Two-factor biometric services include software and services such as OTP software and software-based security tokens. They also include out-of-band authentication (OOB) services and cloud-based two-factor authentication services.
  • The market is divided into the following segments based on geography:
    • APAC
    • Europe
    • MEA
    • North America
    • South America
    Technavio's report, Global Two-Factor Biometrics Market 2016-2020, 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
    • EMC
    • Entrust
    • Gemalto
    • VASCO
    Other prominent vendors
    • Authenex
    • Authentify
    • Authy
    • Deepnet Security
    • DynaPass
    • Fortinet
    • HID Global
    • Meontrust
    • Mi-Token
    • PointSharp
    • Protectimus Solutions
    • SecureAuth
    • SecurEnvoy
    • SecurStar
    • SecuTech Solutions
    • Swivel Secure
    Market driver
    • Growing number of online transactions
    • For a full, detailed list, view our report
    Market challenge
    • Vulnerability of hardware devices to physical damage
    • For a full, detailed list, view our report
    Market trend
    • Increasing adoption of two-factor biometrics by SMBs
    • For a full, detailed list, view our report
    Key questions answered in this report
    • What will the market size be in 2020 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 Two-Factor Biometrics Market 2016-2020

    Technavio recognizes the following companies as the key players in the global two-factor biometrics market: EMC, Entrust, Gemalto, and Vasco.

    Other Prominent Vendors in the market are: Authenex, Authentify, Authy, Deepnet Security, DynaPass, Fortinet, HID Global, Meontrust, Mi-Token, PointSharp, Protectimus Solutions, SecureAuth, SecurEnvoy, SecurStar, SecuTech Solutions, and Swivel Secure.

    Commenting on the report, an analyst from Technavio’s team said: “One trend which is helping boost market growth is the rising adoption of two-factor biometrics by SMBs. Most SMBs are conscious about investments and cannot afford high-end token authentication devices. So, a decline in the prices of biometric tokens has led to their increased adoption among cost-conscious SMBs. Increasing number of online transactions and cyber attacks have resulted in the wider adoption of hardware devices. To enhance the security of critical data, it has become important for organizations to adopt biometric tokens.”

    According to the report, a key growth driver is the rising number of online transactions. Consumers are becoming increasingly dependent on the internet for financial transactions as it is convenient. Internet-based financial transactions are vulnerable to cyber attacks and security threats. The volume of cyber attacks is increasing in line with the rising number of online transactions, especially in sectors such as BFSI, PCI, healthcare, and retail. To make online transactions more secure, organizations are using hardware OTP token authentication methods.

    Further, the report states that one challenge that could hamper market growth is the vulnerability of hardware devices to physical damage.



    Companies Mentioned

    EMC, Entrust, Gemalto, Vasco, Authenex, Authentify, Authy, Deepnet Security, DynaPass, Fortinet, HID Global, Meontrust, Mi-Token, PointSharp, Protectimus Solutions, SecureAuth, SecurEnvoy, SecurStar, SecuTech Solutions, Swivel Secure.

    • Executive summary
      • Highlights
      • Market overview
        • Table Market summary
    • Scope of the report
      • Market overview
    • Market research methodology
      • Research methodology
      • Economic indicators
    • Introduction
      • Key market highlights
    • Authentication architecture
      • Table Authentication architecture
      • Two or more factor authentication versus single-factor authentication
        • Table Two or more factor authentication versus single-factor authentication
    • Types of twofactor authentication
      • Passwords
      • Hard tokens
      • Soft tokens
      • OTP
      • Biometrics
      • Advantages of two-factor biometrics
    • Market landscape
      • Market overview
        • Table Overview of two-factor biometrics market
    • Market assumptions
      • Table Market assumptions
    • Life cycle analysis
      • Table Life cycle of two-factor biometrics
      • Global multi-factor biometrics market
        • Table Global multi-factor biometrics market 2015-2020 ($ billions)
      • Two-factor biometrics in global multi-factor biometrics market
        • Table Share of two-factor biometrics in global multi-factor biometrics market 2015-2020
      • Global two-factor biometrics market
        • Table Global two-factor biometrics market 2015-2020 ($ billions)
    • Market segmentation by end-user
      • Segmentation of global two-factor biometrics market by enduser
        • Table Global two-factor biometrics market by end-user 2015 (% share)
    • Geographical segmentation
      • Geographical segmentation of two-factor biometrics market
        • Table Geographical segmentation of two-factor biometrics market 2015-2020 (% share)
      • Geographical segmentation of two-factor biometrics market by revenue
        • Table Two-factor biometrics market by revenue 2015-2020 ($ billions)
    • Buying criteria
      • Buying criteria for two-factor biometrics
        • Table Buying criteria for two-factor biometrics
    • Market drivers
      • Increasing use of mobile devices
      • Growing number of online transactions
      • Increasing security threats
      • Growing demand in BFSI sector
    • Impact of drivers
      • Table Impact of drivers
    • Market challenges
      • Increasing hardware costs of biometric tokens
      • Changing customer preferences
      • Vulnerability of hardware devices to physical damage
      • Rising 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 two-factor authentication
      • Increasing adoption of two-factor biometrics by SMBs
      • Launch of unified platforms for authentication purposes
    • Impact of trends
      • Table Impact of trends
    • Five forces model
      • Table Five forces model
    • Key vendor analysis
      • Competitive scenario
      • Vendor highlights
        • Table Key news
        • Table M&A
      • Vendor matrix
        • Table Product offerings
        • Table Features of products offered by vendors
      • Vendor competitive rating
        • Table Vendor competitive rating
      • Description of major vendors
    • Other prominent vendors
      • Table Other prominent vendors
    • Appendix
      • List of abbreviations
    • Explore Technavio

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