Awesome to observe that, government sector, finance sector, SMBs and decision-makers are steadily aware of the stakes related security and privacy in our ever-connected world.
Security solution vendors tap into this momentum with innovative
technologies and approach that can bring peace in minds.
While at its early stages, the
promising multi factor authentication technology charts is way in terms of
maturation and adoption.
Technavio’s latest multi
factor authentication market report revealed that, in 2015, the BFSI sector held a market share of
45.98% in the global multi-factor authentication market. The PCI sector followed with 21.19%, the government sector with 12.9%, the healthcare sector with 5.77%, and the others segment with 14.16%”.
One can then observe the use of OOB authentication. This authentication
technology is a type of two-factor authentication and works well even if a
fraudulent user gains all security credentials to a user’s account. The OOB
authentication method is cheaper to deploy compared to keys and more complex
biometric technologies.
The use of cloud-based multi-factor authentication solutions because of
benefits such as pay per use, improved reliability and scalability, easy
installation and upgradation, reduced dependency on internal IT personnel, and
zero maintenance costs.
The use of unified platforms that can provide both hardware and
software authentication solutions.
According to Technavio, the following four emerging trends are expected
to propel the growth of the global multi factor authentication market: