Research firm TechNavio has released a report called “Global Two-factor Authentication Market 2011-2015,” in which it forecasts the market to grow at a 20.8% CAGR between 2011 and 2015.

The market is growing due to increasing regulatory requirements and the convergence of authentication techniques; however, issues around mobile phone-based authentication could hinder this growth. A particular concern is NFC-enabled mobile phones that could be used as a contactless card.

The report covers the Americas, EMEA and APAC regions. It also looks at the market landscape and opportunities for growth. Key vendors covered include Entrust Inc., Gemalto N.V., RSA Security Inc. and VASCO Data Security International Inc.

Research and Markets is selling the report through its website. Pricing is available based on the number of users for the report.