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TMCNet:  Markets and Markets : Multi-Factor Authentication Market Will Be worth Of $5.45 Billion by 2017

[February 26, 2014]

Markets and Markets : Multi-Factor Authentication Market Will Be worth Of $5.45 Billion by 2017

(M2 PressWIRE Via Acquire Media NewsEdge) According to a new market research report "Two Factor Authentication Market- By Model / type (two, three, four & five-factor), Application (Banking & Finance, Healthcare, Government, Defense, Travel & immigration, Consumer Electronics and Commercial Security)& by Geography- Forecasts (2012- 2017)" Browse 118 market data tables with 31 figures spread through 275 pages and in-depth TOC of "Two Factor Authentication Market".

http://www.marketsandmarkets.com/Market-Reports/multi-factor-authentication-market-877.html Early buyers will receive 10% customization on this reports.

Multi-factor authentication (MFA) implies user and employee authentication by verifying two or more authentication techniques (hardware token, One Time Password, Password/PIN, and biometric traits) provided by him/her. MFA has become the most important part of security due to increase in unauthorized access, frauds, border intrusion, etc. MFA is increasingly getting deployed at all the security checkpoints of airports, commercial complex, retail malls, banking & finance, etc. MFA provides accurate authentication and negligible margin of duplicity or error.

This report describes the various types of biometric and non-biometric technologies such as hardware and software tokens, OTP (One Time Password), and biometric recognition that are being used for different applications. The above-mentioned techniques can be combined to form two-, three-, four-, and five-factor authentication models. Out of these models, two-factor authentication is commonly used in most of the applications. Two-factor authentication is the oldest type of MFA technique and can be seen at banks, ATMs, and various government offices.

Two-factor authentication model covers almost 90% of the market for multi-factor authentication, wherein banking & finance, travel & immigration, commercial security are the major applications. Three, four-, and five-factor authentication models are less used when compared to two-factor authentication. The three-factor authentications include smart card with pin and biometric technology, smart card with two biometric technologies, pin with two biometric technologies and three biometric authentications. On the other hand, four- and five-factor authentication includes the use of smart card and pin with more than one type of biometric technology such as face recognition, fingerprint recognition, voice recognition, etc. Three-factor authentication is mostly used in private access areas like bank lockers, secret data access, defense and travel & immigration. The use of four- and five-factor authentication models is restricted to high cost projects in defense, research, and government-based applications.

Request Sample @ http://www.marketsandmarkets.com/requestsample.asp?id=877 Multi-Factor Authentication (MFA) is an advanced technique with regards to the identification of humans, based on two or more traits (hardware token, One Time Password), PIN/password, biometric traits) provided by them. MFA improves the effectiveness of authentication processes, refurbishes control access to physical and electronic resources, and advances the security of information systems. MFA provides a high degree of security and convenience ensuring the confidentiality of personal information.

Free PDF Download @ http://www.marketsandmarkets.com/pdfdownload.asp?id=877 This is superior to traditional username and passwords/PINs. MFA prevents thefts, as there are multi-layered securities that cannot be compromised easily. For the system to fail and expose secret data there should be more than one layer of security failure, which is a rare scenario. MFA products are formed using multiple combinations of PIN/Password, hardware tokens and biometrics (fingerprint, face, iris, voice, etc.). There is large range of products available for several applications like government, travel & immigration, commercial security, banking & finance, consumer electronics, healthcare, defense, and others.

About MarketsandMarkets MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world.

MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services. MarketsandMarkets covers thirteen industry verticals, including advanced materials, automotive and transportation, banking and financial services, biotechnology, chemicals, consumer goods, energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, semiconductor and electronics, and telecommunications and IT.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

Contact: Mr. Rohan North - Dominion Plaza, 17304,Preston Road, Suite 800, Dallas, TX 75252 Tel: +1-888-600-6441 Email: sales@marketsandmarkets.com Visit MarketsandMarkets Blog@ http://www.marketsandmarketsblog.com/market-reports/electronics-and-semiconductors Connect with us on LinkedIn@ http://www.linkedin.com/company/marketsandmarkets CONTACT: Mr. Rohan Tel: +1-888-600-6441 Email: sales@marketsandmarkets.com .

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