Global Two-factor Biometrics Market 2016-2020

  • Published: Jun 2016
  • Pages: 58
  • SKU: IRTNTR9484

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This market research analysis presents a detailed segmentation of the global two-factor biometrics market by end user (BFSI (banking, financial services, and insurance), PCI (payment card industry), government, healthcare, and others) and by geography (APAC, Europe, Latin America, MEA, and North America). The primary vendors in the market are EMC, Entrust, Gemalto, and VASCO.

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.

Segmentation by end user and analysis of the two-factor biometrics market

  • BFSI
  • PCI
  • Government
  • Healthcare

During 2015, the BFSI segment accounted for more than 43% of the total market share and is anticipated to dominate this market until the end of 2020. Owing to increasing instances of transaction frauds in the BFSI sector, the requirement for highly secure identification and verification methods is on the rise. Factors such as the increase in hacking, phishing, and other cyber-related crimes will compel the adoption of better security systems in this sector during the next four years.

Geographical segmentation and analysis of the two-factor biometrics market

  • APAC
  • Europe
  • Latin America
  • MEA
  • North America

North America will dominate this market during the forecast period and is envisaged to account for an impressive market share of almost 35% by 2020.  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.

Competitive landscape and key vendors

Due to the presence of several small regional vendors and large multinational vendors, this market appears to be highly fragmented. Regional vendors struggle to compete with international vendors and established vendors are likely to acquire small-scale regional vendors to gain a better share of the market. Factors like technological innovations, rise in the number of acquisitions, and increasing product and service extensions will intensify the level of competition in this market in the coming years.

The leading vendors in the market are -

  • EMC
  • Entrust
  • Gemalto

The other prominent vendors in the two-factor biometrics market are Authenex, Authentify, Authy, Deepnet Security, DynaPass, Fortinet, HID Global, Meontrust, Mi-Token, PointSharp, Protectimus Solutions, SecureAuth, SecurEnvoy, and SecurStar.

Key questions answered in the report include

  • What will the market size and the growth rate be in 2020?
  • What are the key factors driving the global two-factor biometrics market?
  • What are the key market trends impacting the growth of the global two-factor biometrics market?
  • What are the challenges to market growth?
  • Who are the key vendors in the global two-factor biometrics market?
  • What are the market opportunities and threats faced by the vendors in the global two-factor biometrics market?
  • Trending factors influencing the market shares of APAC, Europe, Latin America, MEA, and North America.
  • What are the key outcomes of the five forces analysis of the global two-factor biometrics market?

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Table of Contents

PART 01: Executive summary

  • Highlights
  • Market overview

PART 02: Scope of the report

  • Market overview

PART 03: Market research methodology

  • Research methodology
  • Economic indicators

PART 04: Introduction

  • Key market highlights

PART 05: Authentication architecture

  • Two or more factor authentication versus single-factor authentication

PART 06: Types of two-factor authentication

  • Passwords
  • Hard tokens
  • Soft tokens
  • OTP
  • Biometrics
  • Advantages of two-factor biometrics

PART 07: Market landscape

  • Market overview

PART 08: Market assumptions

PART 09: Life cycle analysis

  • Global multi-factor biometrics market
  • Two-factor biometrics in global multi-factor biometrics market
  • Global two-factor biometrics market

PART 10: Market segmentation by end-user

  • Segmentation of global two-factor biometrics market by end-user

PART 11: Geographical segmentation

  • Geographical segmentation of two-factor biometrics market
  • Geographical segmentation of two-factor biometrics market by revenue

PART 12: Buying criteria

  • Buying criteria for two-factor biometrics

PART 13: Market drivers

  • Increasing use of mobile devices
  • Growing number of online transactions
  • Increasing security threats
  • Growing demand in BFSI sector

PART 14: Impact of drivers

PART 15: Market challenges

  • Increasing hardware costs of biometric tokens
  • Changing customer preferences
  • Vulnerability of hardware devices to physical damage
  • Rising number of technical defects

PART 16: Impact of drivers and challenges

PART 17: Market trends

  • Introduction of OOB authentication
  • Emergence of cloud-based two-factor authentication
  • Increasing adoption of two-factor biometrics by SMBs
  • Launch of unified platforms for authentication purposes

PART 18: Impact of trends

PART 19: Five forces model

PART 20: Key vendor analysis

  • Competitive scenario
  • Vendor highlights
  • Vendor matrix
  • Vendor competitive rating
  • Description of major vendors

PART 21: Other prominent vendors

PART 22: Appendix

  • List of abbreviations

PART 23: Explore Technavio


Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.


Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases


Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts



  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis


  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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