Multi-factor authentication market to reach $5.45 billion by 2017: report

July 29, 2013 - 

The global multi-factor authentication market is expected to reach $5.45 billion by 2017, at a CAGR of 17.3% from 2012 to 2017, according to a newly published report.

The report, Multi-Factor Authentication Market – By Model/Type, Application and Geography – Forecasts (2012-2107), notes biometric based multi-factor authentication models are growing rapidly, contributing significantly to the growth of the overall market. It lists key developments in the authentication space, and specifically includes Apple’s Authentec acquisition as well as Morpho’s L1 purchase.

According to the report, two-factor authentication is the most widely used model, mentioning smartcard with PIN and one-time passwords as the most popular technique. Smartcards increasingly can contain biometric data.

The report estimates the multi factor authentication market, forecasts the size of MFA technologies by models, by applications, and by geography from 2012 to 2017. It talks about the latest events in the market under winning imperatives and “burning issues.”

The report is now available in the Research and Markets catalogue. 

Research and Markets recently announced the addition of another report dealing with biometrics. Reported previously, the group has now published a report on the Russian biometrics market, which suggests it will reach US$398 million by 2018, owed largely to the upcoming World Cup and Olympics to be held in the country.

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About Adam Vrankulj

Adam Vrankulj is an editor for BiometricUpdate.com. His background consists of online news writing, editing and content marketing. Adam has written for CBCNews.ca, BlogTO and was the editor and curator for the nextMEDIA and CIX Source publications. He has a degree in journalism and is passionate about science, technology and social innovation. Contact Adam, or follow him at @adamvrankulj