Marketsandmarkets has released a report entitled “Multi-Factor Authentication Market – By Model/type (two-, three-, four- & five-factor), Application (Banking & Finance, Healthcare, Government, Defense, Travel & Immigration, Consumer Electronics and Commercial Security) & by Geography – Forecasts (2012-2017)” in which it states that the total market should reach $5.45 billion by 2017 at a CAGR of 17.3%.

The report delves into the different types of biometric and non-biometric technologies and their use in different applications. It also looks at the different industries that use multi-factor authentication.

While the report covers many different layers of authentication, two-factor remains the most popular, with a 90% share of the market. The industries that most often employ multi-factor authentication include banking & finance, travel & immigration and commercial security.

The largest geographical market is the U.S., followed by Europe and APAC. In the rest of the world, the Middle East and Africa are the largest markets.