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.
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. 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.
In 2018, the global Two-Factor Biometrics market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of xx% during 2019-2025.
This report focuses on the global Two-Factor Biometrics status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Two-Factor Biometrics development in United States, Europe and China.
The key players covered in this study
Market segment by Type, the product can be split into
Market segment by Application, split into
Market segment by Regions/Countries, this report covers
Central & South America
The study objectives of this report are:
To analyze global Two-Factor Biometrics status, future forecast, growth opportunity, key market and key players.
To present the Two-Factor Biometrics development in United States, Europe and China.
To strategically profile the key players and comprehensively analyze their development plan and strategies.
To define, describe and forecast the market by product type, market and key regions.
In this study, the years considered to estimate the market size of Two-Factor Biometrics are as follows:
History Year: 2014-2018
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025
For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.