TechNavio today launched its report Global Multi-factor Authentication Market 2011-2015 based on an in-depth study covering the Americas, and the EMEA and APAC regions. The report aims to aid decision makers’ understanding of the present and future landscape of the market.
Commenting on the report, an analyst from TechNavio’s IT Security team said, ”One of the major trends in the Global Multi-factor Authentication market is the increasing popularity of phone-based authentication solutions. Advantages such as high scalability, no requirement to carry extra hardware and easy implementation have increased the adoption of phone-based authentication solutions in comparison with traditional hardware tokens. Further, phone-based authentication can generate one-time passwords (OTPs) and at the same time can be used for biometric scanning. Thus, the device can be used for three-factor authentication as well. Since virtually everyone carries a mobile phone, there is no need for further investment in hardware tokens.”
According to the report, the growing need to comply with regulations as set by various governments is one of the major drivers for the Global Multi-factor Authentication market. Enterprises are required to comply with these regulations and standards in order to secure their data. In cases of non-compliance, these enterprises may have to pay penalties that could damage their reputation. Thus, stringent regulatory norms are one of the major drivers for this market.
Further, the report also discusses that the total cost of ownership is limiting the use of multi-factor authentication solutions across companies and is affecting the growth of the market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key players. For further information on this report, please visit https://www.technavio.com/content/global-multi-factor-authentication-mark…
TechNavio, the market research platform of Infiniti Research Ltd, publishes periodic reports on niche and emerging technologies. For more information on our IT Security, please visit https://www.technavio.com/security
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TechNavio Announces the Publication of its Report – Global Multi-factor Authentication Market 2011-2015
