By the end of this year, mobile multi-factor authentication software and services will be worth $1.6 billion by the end of this year.
The reason is that user names and passwords to identify people aren’t secure enough, according to ABI Research.
And attacks against organisations, of whatever size, continue to flourish with many breaches made because of weak passwords.
That means there’s considerable market demand for authentication technology that gives an additional layer of security.
ABI thinks that one time passwords and tokens are emerging as the favourite way of authentication.
They offer better security because passwords generated only work for a single session or transaction.
Microsoft, Apple, Facebook, Google and Twitter already use two factor authentication methods. And one type of two factor authentication uses hardware based security tokens.
Companies like MobileIron, Gemalto, Entrust,, Centrify, CA, Symantec and others are competing for market share.
ABI believes the market is so ready for this kind of secure technology that by 2020 the authentication market will be worth $13.2 billion.