The rising occurrences of criminal activities in the BFSI, PCI, government, and healthcare, sectors are leading to a higher demand for cyber security solutions. There is a heightened need for highly reliable personal authentication and identification systems to reduce security risks. Two-factor biometric solutions are used to ensure physical and information security. Here, the user needs to provide the second piece of information — a code, a temporary password, or a finger swipe — to access credentials. If the user is unable to provide the correct information, the account remains locked.
Technavio’s analysts forecast the global two-factor biometrics market to grow at a CAGR of 22.87% during the period 2016-2020.
Covered in this report The report covers the present scenario and the growth prospects of the global two-factor biometrics market for 2016-2020. To calculate the market size, the report considers revenue generated from the sales of two-factor biometric products and services. - Two-factor biometric products include hardware products such as one-time password (OTP) tokens, USB tokens, mini tokens, and subscriber identity module (SIM) tokens - Two-factor biometric services include software and services such as OTP software and software-based security tokens. They also include out-of-band authentication (OOB) services and cloud-based two-factor authentication services.
The market is divided into the following segments based on geography: - APAC - Europe - MEA - North America - South America
Technavio's report, Global Two-Factor Biometrics Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendorsoperating in this market.
Market driver - Growing number of online transactions - For a full, detailed list, view our report
Market challenge - Vulnerability of hardware devices to physical damage - For a full, detailed list, view our report
Market trend - Increasing adoption of two-factor biometrics by SMBs - For a full, detailed list, view our report
Key questions answered in this report - What will the market size be in 2020 and what will the growth rate be? - What are the key market trends? - What is driving this market? - What are the challenges to market growth? - Who are the key vendors in this market space? - What are the market opportunities and threats faced by the key vendors? - What are the strengths and weaknesses of the key vendors?
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