Report Linker has published its report detailing the global multi-factor authentication market, spanning model types, market sector, and geographical forecasts.
The global multi-factor authentication market is expected to top $5.45 billion by 2017 with an estimated compound annua; growth rate of 17.3% from 2012 through 2017. Two-factor authentication is currently most the widely and commonly used multi-factor model in the world with smart card/PIN and one-time password being the popular authentication techniques.
Biometric-based multi-factor models are also growing. North America and Europe comprise a vast majority of the biometric market at present, while the Asia-Pacific is the fastest growing region for biometric authentication.
The report identifies some of the key developments in authentication. These developments include Microsoft’s purchase of PhoneFactor in October 2012, Apple’s July 2012, purchase of AuthenTec and Sagem Morpho’s purchase of biometric tech company L1 Identity. These are but a few developmental highlights, and as the report points out, a fraction of the total number of acquisitions, mergers, new product launches and agreements that have occurred in the past year.
Report Linker’s document forecasts the size of multi-factor technologies by models, applications and geography beginning with the 2012 calendar year and continuing through 2017. Report Linker further qualifies the models by two-factor authentication, three-factor authentication, four-factor authentication and five-factor authentication.
Also part of Report Linker’s segmentation are the various multi-factor authentication application areas — government, defense, banking and finance, travel and immigration, health care, consumer electronics and commercial security. Report Linker identifies increasing security concerns, use of multi-factor authentication in banking and finance, use of MFA on smart phones and increased concerns over cybercrime as pivotal to the rising MFA market in 2013.
The report characterizes the landscape of market competitors, covering key growth strategies employed by all the major market players. Also highlighted are the successful imperatives and important issues to the MFA industry moving forward.
Report Linker covers the forecasted revenue from 2012 through 2017 as well as future applications of the multi-factor authentication market. The report also displays activities and research being conducted at the institute and university levels.
The scope of the geographical report covers North America, Europe, Asia-Pacific, and ROW. The report further segments North America and Europe. APAC is segmented into Australia, China, Japan, South Korea, and India, while ROW is segmented into Africa and Middle East.
Report Linker’s full MFA forecast is available in their catalogue here.