What is the market size for the ?

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What is the CAGR for the ?

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What is the growth rate of the market?

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Which region held the largest market share in the market?

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Who are the prominent players in the market?

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Global Two-factor Biometrics Market 2016-2020

Q: What is the market size for the ?

. <a href='https://www.technavio.com/report/global-automatic-identification-system-two-factor-biometrics-market'>Read More</a>

Q: What is the CAGR for the ?

. <a href='https://www.technavio.com/report/global-automatic-identification-system-two-factor-biometrics-market'>Read More</a>

Q: What is the growth rate of the market?

. <a href='https://www.technavio.com/report/global-automatic-identification-system-two-factor-biometrics-market'>Read More</a>

Q: Which region held the largest market share in the market?

. <a href='https://www.technavio.com/report/global-automatic-identification-system-two-factor-biometrics-market'>Read More</a>

Q: Who are the prominent players in the market?

. <a href='https://www.technavio.com/report/global-automatic-identification-system-two-factor-biometrics-market'>Read More</a>

Published: Jun 2016
Pages: 58
SKU: IRTNTR9484

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Overview of the global two-factor biometrics market

Technavio’s market research analyst has estimated the global two-factor biometrics market to grow profoundly at a CAGR of almost 23% by 2020. The growing number of online transactions is considered to be one of the major drivers for this market. Though internet-based financial transactions are highly vulnerable to cyber-attacks, consumers are still dependent on the Internet for financial transactions due to its high convenience. Even though many financial institutions from across the globe have started using hardware OTP (one-time password) for financial transactions, the rising number of online-dependent customers will augment the need for better security techniques. This need for better security measures will fuel the need for two-factor authentication among end users from the banking and financial sectors.

This market study identifies the introduction of OOB (out-of-band) authentication as one of the major trends gaining traction in this market. This technique involves the use of two separate networks that work simultaneously to confirm and authenticate a user’s identity. Since OOB authentication requires a secondary authentication, it prevents fraudsters from accessing a user’s account even if they have all the secure credentials. The growing implementation of OOB authentication methodologies will greatly aid in the growth of the global two-factor biometrics market in the coming years.