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.
Scope of the Report:This report studies the Two-Factor Biometrics market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Two-Factor Biometrics market by product type and applications/end industries.
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.
North America is estimated to dominate this market during the forecast period and is envisaged to account for an impressive market share of almost 35% by 2023.Ê In this region, the presence of many global financial institutions, increased acceptance among financial institutions, growing instances of security threats, and early adoption of technological advances are primary factors that will fuel the growth of the market.
The global Two-Factor Biometrics market is valued at xx million USD in 2020 and is expected to reach xx million USD by the end of 2026, growing at a CAGR of xx% between 2020 and 2026.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Two-Factor Biometrics.
Europe also play important roles in global market, with market size of xx million USD in 2020 and will be xx million USD in 2026, with a CAGR of xx%.
Market Segment by Companies, this report covers EMC
Entrust
Gemalto
VASCO
Authenex
Authentify
Authy
Deepnet Security
DynaPass
Fortinet
HID Global
Market Segment by Regions, regional analysis covers North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers Passwords
Hard Tokens
Soft Tokens
OTP
Biometrics
Market Segment by Applications, can be divided into BFSI
PCI
Government
Healthcare
Frequently Asked Questions
The base year for the study has been considered 2019, historic year 2014 and 2018, the forecast period considered is from 2020 to 2027. The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. These regions are further analyzed at the country-level. The study also includes attractiveness analysis of type, application and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
Market is segmented on the basis:
- By Type
- By Application
- By Region
- By Country
- By Manufacturer
The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2019 to 2026.
The report provides company profile of the key players operating in the market and a comparative analysis based on their business overviews industry offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
