London, 15 December 2014 – TechNavio, a tech-focused research firm published a new report on the Global Multi-Factor Authentication Market, which is expected to grow at a CAGR of 21.1 percent from 2014-2019.
Growing security breaches have increased the demand for multi-factor authentication services in SMEs. The traditional username/password authentication used by many companies is prone to hacking, which is leading many enterprises to adopt highly secure multi-factor authentication softwares.
Availability of cloud-based multi-factor authentication technology has reduced the maintenance costs typically associated with hardware and software-based two-factor and three-factor authentication models.
“Companies now prefer adopting cloud-based authentication solutions because the pay per use model is more cost effective, and they offer improved reliability and scalability, ease of installation and upgrades, and minimal maintenance costs,” says Faisal Ghaus, Vice President of TechNavio.
Vendors are introducing unified platforms that provide both hardware and software authentication solutions. These unified platforms are helping authentication vendors reduce costs since they need not maintain separate platforms and modules.
The new TechNavio report also delves into key drivers and challenges, as well as important trends that are expected to influence the market over the next four years.
TechNavio currently has more than 3000 market research reports on a huge range of topics, including:
- Global OOB Authentication Market 2014-2018
- Global Hardware OTP Token Authentication Market 2015-2019
https://www.technavio.com/%3Cp%3E%3Cstrong%3EAbout%20TechNavio%3C/strong%…
