Dublin, April 27, 2016 (GLOBE NEWSWIRE) -- Research and Markets has announced the addition of the "Global Multi-factor Authentication Market 2016-2020" report to their offering.

The global multi-factor authentication market is set to grow at a CAGR of 22.18% during the period 2016-2020.

Multi-factor authentication is a security system that requires more than one type of authentication to verify the identity of a user for the purpose of login or transaction:

• Primary layer (something the user knows): personal identification number (PIN), pattern, or password.
• Secondary layer (something the user has): smart card, ID card, software token, hardware token, or phone-based token.
• Tertiary layer (something the user is): biometric identifiers such as facial recognition, fingerprint identification, or retinal pattern.

OOB authentication uses two separate networks that work simultaneously to identify a user. 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 transaction is not complete without access to the second authentication network. The OOB authentication method is cheaper to deploy compared to keys and more complex biometric technologies. Hardware OOB authentication tokens and mobile phone-based OOB authentication tokens such as SMS and back-up calls are the OOB authentication methods available.

According to the report, the growing need for uninterrupted connectivity in corporate offices has compelled employees to use portable devices such as cell phones, tablets, and PCs to gain access to confidential information. Hackers can easily gain access to data stored on mobile devices, which may lead to the misuse of critical data. So, the need for security of the data stored on mobile devices has increased.

Further, the report states that the market is controlled by a small set of vendors and the low competition is resulting in high initial deployment and replacement costs.

Key vendors:

• EMC
• Entrust
• Gemalto
• Vasco

Report Structure:

PART 01: Executive summary

PART 02: Scope of the report

PART 03: Market research methodology

PART 04: Introduction

PART 05: Market description

PART 06: Market landscape

PART 07: Life cycle analysis

PART 08: Market segmentation by offering

PART 09: Market segmentation by technology

PART 10: Market segmentation by application

PART 11: Market segmentation by end-user

PART 12: Geographical segmentation

PART 13: Buying criteria

PART 14: Market drivers

PART 15: Impact of drivers

PART 16: Market challenges

PART 17: Impact of drivers and challenges

PART 18: Market trends

For more information visit http://www.researchandmarkets.com/research/4jvs8m/global

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