TechNavio recognizes the following companies as the key players in the Global Multi-factor Authentication market: EMC Corp., Entrust Inc., Gemalto N.V., and VASCO Data Security International Inc.
Commenting on the report, an analyst from TechNavio’s team said: “One of the main trends witnessed in the Global Multi-factor Authentication market is increased 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. Furthermore, phone-based authentication can generate an OTP and at the same time it 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, one of the main factors driving the market is the increasing number of regulatory requirements. . 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, which could damage their reputation.
Further, the report states that one of the main challenges is high cost of deployment. The initial cost of hardware tokens is high because it includes the hardware cost, support services, and the deployment cost. The loss or damage of hardware tokens would further increase the overall cost of hardware tokens.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are ActivIdentity Corp., Aladdin, Anakam, Arcot, Authentify, CryptoCard, Deepnet Security, ID Control, PhoneFactor, PortWise, Quest Software, SafeNet, SecureAuth, Secure Envoy, SecurStar, Swivel Secure, Tricerion, and TriCipher.
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 vendors. For further information on this report, please visit https://www.technavio.com/report/global-multi-factor-authentication-marke…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/it-hardware-software-services
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TechNavio Announces the Publication of its Research Report -Global Multi-factor Authentication Market 2012-2016
