DUBLIN, April 28, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Multi-factor Authentication Market 2016-2020" report to their offering.
The global multi-factor authentication market is set to grow at a CAGR of 22.18% during the period 2016-2020.
Multi-factor authentication is a security system that requires more than one type of authentication to verify the identity of a user for the purpose of login or transaction:
- Primary layer (something the user knows): personal identification number (PIN), pattern, or password.
- Secondary layer (something the user has): smart card, ID card, software token, hardware token, or phone-based token.
- Tertiary layer (something the user is): biometric identifiers such as facial recognition, fingerprint identification, or retinal pattern.
OOB authentication uses two separate networks that work simultaneously to identify a user. This authentication technology is a type of two-factor authentication and works well even if a fraudulent user gains all security credentials to a user's account. The transaction is not complete without access to the second authentication network. The OOB authentication method is cheaper to deploy compared to keys and more complex biometric technologies. Hardware OOB authentication tokens and mobile phone-based OOB authentication tokens such as SMS and back-up calls are the OOB authentication methods available.
According to the report, the growing need for uninterrupted connectivity in corporate offices has compelled employees to use portable devices such as cell phones, tablets, and PCs to gain access to confidential information. Hackers can easily gain access to data stored on mobile devices, which may lead to the misuse of critical data. So, the need for security of the data stored on mobile devices has increased.
Further, the report states that the market is controlled by a small set of vendors and the low competition is resulting in high initial deployment and replacement costs.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market description
PART 06: Market landscape
PART 07: Life cycle analysis
PART 08: Market segmentation by offering
PART 09: Market segmentation by technology
PART 10: Market segmentation by application
PART 11: Market segmentation by end-user
PART 12: Geographical segmentation
PART 13: Buying criteria
PART 14: Market drivers
PART 15: Impact of drivers
PART 16: Market challenges
PART 17: Impact of drivers and challenges
PART 18: Market trends
For more information visit http://www.researchandmarkets.com/research/mkjgj8/global
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SOURCE Research and Markets