
Multi-Factor Authentication Global Market – Synopsis & Scenario
The adoption of Multi-Factor Authentication technology in banking and financial industries is increasing with the surging security threats over networks and internet, which will ultimately contribute to market growth of MFA Technology. Moreover, increase in numbers of users of Smartphone with MFA technology and legal compliance is anticipated to propel the market. Contrary to the traditional hardware token system, MFA technology generates authentication scanning and OTP (One Time Password) utilized for biometric as well. Easy implementations with high Scalability, without the necessity to carry extra hardware factors as such further contribute to the market growth for mobile based authentication solutions. However, lack of telecom infrastructure facilities in developing countries can be market restraint.