Intelligent CISO Issue 50 - Page 58

MFA to generate US $ 27 billion globally for mobile operators in 2022 , Juniper Research study finds

new study by Juniper Research

A has found operators will generate US $ 27 billion from the termination of SMS messages related to Multi-Factor Authentication in 2022 ; an increase from US $ 25 billion in 2021 . The research predicts this 5 % growth will be driven by increased pressure on digital service providers to offer secure authentication that reduces risk of data breaches and protects user identity . Multi-Factor Authentication combines multiple credentials to verify a user or transaction . This includes sending an SMS that contains a onetime password or code to a user ’ s unique phone number .

The new research , Mobile Authentication : Future Strategies & Market Forecasts 2022-2027 , urges operators to capitalise on the growth in demand for Multi-Factor Authentication SMS traffic by leveraging firewalls
to monitor and identify SMS traffic specifically used for Multi-Factor Authentication . In turn , operators will then be able to charge a premium on this traffic and further increase business messaging revenue .
Machine Learning needed for identification of traffic
The research predicts there will be over 1.7 trillion Multi-Factor Authentication messages delivered globally in 2022 ; representing 60 % of total SMS business messaging traffic . Operators must develop Machine Learning algorithms that automate the monitoring of this vast amount of traffic to efficiently identify messages that can be charged at a premium .
Research Co-author , Keith Breed , commented : “ Automating traffic detection is crucial for operators as
we expect Multi-Factor Authentication traffic to grow to 2.1 billion messages by 2027 . SMEs have typically not invested in messaging for security in the past . However , rising pressure to implement greater security for users will drive adoption among SMEs over the next five years , and increase global traffic .”
CPaaS platforms enable SMS growth
To manage this increase in demand for Multi-Factor Authentication SMS messages , the report urges operators to partner with CPaaS ( Communications Platform-as-a-Service ) platforms . These platforms offer the necessary user interface to SMEs to manage authentication processes and subsequent traffic from which operators will attain additional SMS business messaging revenue . u
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