Multi-Factor Authentication Market Top Key Players, Rising Technology Trends & Forecast To 2024

Rising digital transactions, increasing data breaches and cyber-attacks, growing adoption of bring your own device (BYOD) among enterprises, stringent data privacy regulations and the growing pressure of data security compliances are some of the key factors driving the growth of multi-factor authentication market across the globe.
Multi-factor authentication is a process that requires more than one type of authentication from different categories of credentials to validate the identity of an individual for login or other transactions. Presently, multi-factor authentication is being used by various organizations to implement an additional layer of security that needs users to authenticate via knowledge, possession, and inherence factors to gain access to the organizational resources.
The growing adoption of BYOD among enterprises is driving the growth of the multi-factor authentication market around the globe. With growing demand for mobility solutions at the workplace, numerous enterprises have started implementing BYOD policies. This policy enables employees to carry their own devices, such as laptops, smartphones, and tablets to the workplace, and use them with enterprise mobility applications to easily access corporate data. Enterprises have their own benefits by implementing BYOD policies, as it increases employee productivity and also reduces the IT setup time. 
The growing popularity of OTP has been observed to be one of the key trends in the market. OTP is an automatically generated one-time alphanumeric or numeric string that authenticates the identity of a user for a single transaction or login within a limited time period. The OTP is a possession based second authentication factor i.e. OTP received on personal mobile phones. The password becomes invalid after the OTP has been used. Presently, due to enhanced security of OTP, financial institutions, organizations, and e-commerce sector deploying OTP for transactions, and login.
Some of the players of this market is focusing on new product launches to increase their presence. For instance, in July 2018, WatchGuard Technologies Inc. launched AuthPoint, a cloud-based multi-factor authentication solution designed for small and medium businesses (SMBs). Additionally, in March 2018, SecureLink Inc. launched its SecureLink Authenticator App for multi-factor authentication when accessing the SecureLink platform.
The report will also provide a country-wise analysis. Some of the major countries that are covered in the report include U.S., Canada, Mexico, Brazil, U.K., Germany, France, Italy, Spain, China, Japan, India, South Korea, Australia, South Africa, Turkey, U.A.E., and Saudi Arabia.
    To More Information Visit: P&S Intelligence

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