The Multi-Factor Authentication market is expected to grow from USD 10.72 Billion in 2020 to USD 33.95 Billion by 2028, at a CAGR of 15.8% during the forecast period 2021-2028.
Multi-factor Authentication is a safety solution where more than one authentication method is required to enable access. This increase in the number of validation steps reduces the risk of security violations, including data theft and hacking. Multi-factor Authentication includes methods that use biometric, logical, and physical techniques to overcome the security system. This layered defensive system offers enhanced safety monitoring and, therefore, greater protection of data.
The Multifactor Authentication Market is driven by strengthening the entire security of a network of companies and the rising demand for the system in various sectors. In addition, the rising of cyber assaults and data violations across companies and greater service flexibility have boosted the industry. A wide range of government plans such as the General Data Protection Regulation, Payment Services Directive 2 (PS D2), and Anti Money Laundering Directive 5 (AMLD5) have grown from the continuously evolving threat landscape. These regulations make it necessary for every company to incorporate a sound ID check to stop fraud such as money laundering, identity theft, and terrorist funding. Furthermore, increased expenditures in cloud technologies, company mobility, and increased use of BYOD in companies throughout the period are expected to boost the market. Factors like increased service costs and worries about the possibility of false security are probably market restrictions. In comparison, customers are anticipated to increase the number of online transactions, including high digital banking. Mobile banking is being increasingly used for online transactions, which is to increases the demands for OTP authenticators.
This study delivers a comprehensive analysis of model type, end-user, and region. Based on the model type, the Multifactor Authentication market is segmented into Two-factor, Three-factor, Four-factor, and Five-factor Authentication. The Five-factor Authentication dominated the market with the largest market share in the year 2020. This is an excellent option for applications by the government, such as the domestic security services, access to top-secret national data/files, data safeguarding, and technology at federal research centers. It is utilized in applications with higher safety standards. Based on the end-user, the Multifactor Authentication market is segmented into BFSI, Healthcare, Government, Defence, Travel & Transport/Logistics, and Others. The BFSI segment dominated the market with the largest market share in the year 2020. BFSI, which deals with vast amounts of sensitive and private financial data, is the targeted vertical sector. Because they handle highly sensitive financial data, the BFSI sector is an early adopter of cutting-edge Multi-Factor Authentication solutions. Financial institutions are increasingly appreciating the importance of technology developments in improving the customer experience and safeguarding themselves and their customers from security breaches.
The market has been divided into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The North American region dominated the market with the largest market share in 2020. The region's market growth has been fuelled by the early acceptance of Multi-Factor Authentication and the presence of many companies offering Multi-Factor Authentication solutions. Businesses in this area are rapidly using multi-factor authentication solutions to enable data protection, prevent cyber-attacks, identity theft, and commercial espionage, and assure data security and privacy for business continuity. The presence of significant Multi-Factor Authentication market suppliers, investments and developments, a tight regulatory environment, and high technology adoption rates are all contributing to the industry's growth in North America.
The significant players in the Multifactor Authentication market include Micro Focus, Broadcom, Microsoft, OneSpan, Okta, Thales, RSA Security, Duo Security, Ping Identity, HID Global, ESET, ForgeRock, CyberArk, OneLogin, SecureAuth, Oracle, Salesforce, Secret Double Octopus, Silverfort, Trusona, FusionAuth, HYPR, Keylesz, and Luxchain.
Multi-Factor Authentication Market Analysis and Forecast, Model Type
Multi-Factor Authentication Market Analysis and Forecast, End-User
Multi-Factor Authentication Market Analysis and Forecast, Region
Report Description:
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis By Model Type
4.3.2. Market Attractiveness Analysis By End-User
4.3.3. Market Attractiveness Analysis By Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. Increased digitalisation
5.2.2. Rapidly increasing online threats and scams.
5.3. Restrains
5.3.1. High service costs.
5.4. Opportunities
5.4.1. Increasing mobile transactions.
5.4.2. Online banking.
5.4.3. Data security.
6. Global Multi-Factor Authentication Market Analysis and Forecast, By Model Type
6.1. Segment Overview
6.2. Two-factor
6.3. Three-factor
6.4. Four-factor
6.5. Five-factor
7. Global Multi-Factor Authentication Market Analysis and Forecast, By End-User
7.1. Segment Overview
7.2. BFSI
7.3. Healthcare
7.4. Government
7.5. Defence
7.6. Travel & Transport/Logistics
8. Global Multi-Factor Authentication Market Analysis and Forecast, By Regional Analysis
8.1. Segment Overview
8.2. North America
8.2.1. U.S.
8.2.2. Canada
8.2.3. Mexico
8.3. Europe
8.3.1. Germany
8.3.2. France
8.3.3. U.K.
8.3.4. Italy
8.3.5. Spain
8.4. Asia-Pacific
8.4.1. Japan
8.4.2. China
8.4.3. India
8.5. South America
8.5.1. Brazil
8.6. Middle East and Africa
8.6.1. UAE
8.6.2. South Africa
9. Global Multi-Factor Authentication Market-Competitive Landscape
9.1. Overview
9.2. Market Share of Key Players in Global Multi-Factor Authentication Market
9.2.1. Global Company Market Share
9.2.2. North America Company Market Share
9.2.3. Europe Company Market Share
9.2.4. APAC Company Market Share
9.3. Competitive Situations and Trends
9.3.1. Product Launches and Developments
9.3.2. Partnerships, Collaborations, and Agreements
9.3.3. Mergers & Acquisitions
9.3.4. Expansions
10. Company Profiles
10.1. Micro Focus
10.1.1. Business Overview
10.1.2. Company Snapshot
10.1.3. Company Market Share Analysis
10.1.4. Company Product Portfolio
10.1.5. Recent Developments
10.1.6. SWOT Analysis
10.2. Broadcom, Microsoft
10.2.1. Business Overview
10.2.2. Company Snapshot
10.2.3. Company Market Share Analysis
10.2.4. Company Product Portfolio
10.2.5. Recent Developments
10.2.6. SWOT Analysis
10.3. OneSpan
10.3.1. Business Overview
10.3.2. Company Snapshot
10.3.3. Company Market Share Analysis
10.3.4. Company Product Portfolio
10.3.5. Recent Developments
10.3.6. SWOT Analysis
10.4. Okta
10.4.1. Business Overview
10.4.2. Company Snapshot
10.4.3. Company Market Share Analysis
10.4.4. Company Product Portfolio
10.4.5. Recent Developments
10.4.6. SWOT Analysis
10.5. Thales
10.5.1. Business Overview
10.5.2. Company Snapshot
10.5.3. Company Market Share Analysis
10.5.4. Company Product Portfolio
10.5.5. Recent Developments
10.5.6. SWOT Analysis
10.6. RSA Security
10.6.1. Business Overview
10.6.2. Company Snapshot
10.6.3. Company Market Share Analysis
10.6.4. Company Product Portfolio
10.6.5. Recent Developments
10.6.6. SWOT Analysis
10.7. Duo Security
10.7.1. Business Overview
10.7.2. Company Snapshot
10.7.3. Company Market Share Analysis
10.7.4. Company Product Portfolio
10.7.5. Recent Developments
10.7.6. SWOT Analysis
10.8. Ping Identity.
10.8.1. Business Overview
10.8.2. Company Snapshot
10.8.3. Company Market Share Analysis
10.8.4. Company Product Portfolio
10.8.5. Recent Developments
10.8.6. SWOT Analysis
10.9. HID Global
10.9.1. Business Overview
10.9.2. Company Snapshot
10.9.3. Company Market Share Analysis
10.9.4. Company Product Portfolio
10.9.5. Recent Developments
10.9.6. SWOT Analysis
10.10. ESET
10.10.1. Business Overview
10.10.2. Company Snapshot
10.10.3. Company Market Share Analysis
10.10.4. Company Product Portfolio
10.10.5. Recent Developments
10.10.6. SWOT Analysis
10.11. ForgeRock
10.11.1. Business Overview
10.11.2. Company Snapshot
10.11.3. Company Market Share Analysis
10.11.4. Company Product Portfolio
10.11.5. Recent Developments
10.11.6. SWOT Analysis
10.12. CyberArk
10.12.1. Business Overview
10.12.2. Company Snapshot
10.12.3. Company Market Share Analysis
10.12.4. Company Product Portfolio
10.12.5. Recent Developments
10.12.6. SWOT Analysis
10.13. OneLogin
10.13.1. Business Overview
10.13.2. Company Snapshot
10.13.3. Company Market Share Analysis
10.13.4. Company Product Portfolio
10.13.5. Recent Developments
10.13.6. SWOT Analysis
10.14. SecureAuth
10.14.1. Business Overview
10.14.2. Company Snapshot
10.14.3. Company Market Share Analysis
10.14.4. Company Product Portfolio
10.14.5. Recent Developments
10.14.6. SWOT Analysis
10.15. Oracle
10.15.1. Business Overview
10.15.2. Company Snapshot
10.15.3. Company Market Share Analysis
10.15.4. Company Product Portfolio
10.15.5. Recent Developments
10.15.6. SWOT Analysis
10.16. Salesforce
10.16.1. Business Overview
10.16.2. Company Snapshot
10.16.3. Company Market Share Analysis
10.16.4. Company Product Portfolio
10.16.5. Recent Developments
10.16.6. SWOT Analysis
10.17. Secret Double Octopus
10.17.1. Business Overview
10.17.2. Company Snapshot
10.17.3. Company Market Share Analysis
10.17.4. Company Product Portfolio
10.17.5. Recent Developments
10.17.6. SWOT Analysis
10.18. Silverfort
10.18.1. Business Overview
10.18.2. Company Snapshot
10.18.3. Company Market Share Analysis
10.18.4. Company Product Portfolio
10.18.5. Recent Developments
10.18.6. SWOT Analysis
10.19. Trusona
10.19.1. Business Overview
10.19.2. Company Snapshot
10.19.3. Company Market Share Analysis
10.19.4. Company Product Portfolio
10.19.5. Recent Developments
10.19.6. SWOT Analysis
10.20. FusionAuth
10.20.1. Business Overview
10.20.2. Company Snapshot
10.20.3. Company Market Share Analysis
10.20.4. Company Product Portfolio
10.20.5. Recent Developments
10.20.6. SWOT Analysis
10.21. HYPR
10.21.1. Business Overview
10.21.2. Company Snapshot
10.21.3. Company Market Share Analysis
10.21.4. Company Product Portfolio
10.21.5. Recent Developments
10.21.6. SWOT Analysis
10.22. Keylesz
10.22.1. Business Overview
10.22.2. Company Snapshot
10.22.3. Company Market Share Analysis
10.22.4. Company Product Portfolio
10.22.5. Recent Developments
10.22.6. SWOT Analysis
10.23. Luxchain
10.23.1. Business Overview
10.23.2. Company Snapshot
10.23.3. Company Market Share Analysis
10.23.4. Company Product Portfolio
10.23.5. Recent Developments
10.23.6. SWOT Analysis
List of Tables
1. Global Multi-Factor Authentication Market, By Model Type, 2018-2028 (USD Billion)
2. Global Two-factor Market, By region, 2018-2028 (USD Billion)
3. Global Three-factor Market, By region, 2018-2028 (USD Billion)
4. Global Four-factor Market, By Region, 2018-2028 (USD Billion)
5. Global Five-factor Market, By Region, 2018-2028 (USD Billion)
6. Global Multi-Factor Authentication Market, By End-User, 2018-2028 (USD Billion)
7. Global BFSI Market, By region, 2018-2028 (USD Billion)
8. Global Healthcare Market, By region, 2018-2028 (USD Billion)
9. Global Government Market, By region, 2018-2028 (USD Billion)
10. Global Defence Market, By region, 2018-2028 (USD Billion)
11. Global Travel & Transport/Logistics Market, By region, 2018-2028 (USD Billion)
12. North America Multi-Factor Authentication Market, By Model Type, 2018-2028 (USD Billion)
13. North America Multi-Factor Authentication Market, By End-User, 2018-2028 (USD Billion)
14. USA Multi-Factor Authentication Market, By Model Type, 2018-2028 (USD Billion)
15. USA Multi-Factor Authentication Market, By End-User, 2018-2028 (USD Billion).
16. Canada Multi-Factor Authentication Market, By Model Type, 2018-2028 (USD Billion)
17. Canada Multi-Factor Authentication Market, By End-User, 2018-2028 (USD Billion)
18. Mexico Multi-Factor Authentication Market, By Model Type, 2018-2028 (USD Billion)
19. Mexico Multi-Factor Authentication Market, By End-User, 2018-2028 (USD Billion)
20. Europe Multi-Factor Authentication Market, By Model Type, 2018-2028 (USD Billion)
21. Europe Multi-Factor Authentication Market, By End-User, 2018-2028 (USD Billion)
22. Germany Multi-Factor Authentication Market, By Model Type, 2018-2028 (USD Billion)
23. Germany Multi-Factor Authentication Market, By End-User, 2018-2028 (USD Billion)
24. France Multi-Factor Authentication Market, By Model Type, 2018-2028 (USD Billion)
25. France Multi-Factor Authentication Market, By End-User, 2018-2028 (USD Billion)
26. U.K. Multi-Factor Authentication Market, By Model Type, 2018-2028 (USD Billion)
27. U.K. Multi-Factor Authentication Market, By End-User, 2018-2028 (USD Billion)
28. Italy Multi-Factor Authentication Market, By Model Type, 2018-2028 (USD Billion)
29. Italy Multi-Factor Authentication Market, By End-User, 2018-2028 (USD Billion)
30. Spain Multi-Factor Authentication Market, By Model Type, 2018-2028 (USD Billion)
31. Spain Multi-Factor Authentication Market, By End-User, 2018-2028 (USD Billion)
32. Asia Pacific Multi-Factor Authentication Market, By Model Type, 2018-2028 (USD Billion)
33. Asia Pacific Multi-Factor Authentication Market, By End-User, 2018-2028 (USD Billion)
34. Japan Multi-Factor Authentication Market, By Model Type, 2018-2028 (USD Billion)
35. Japan Multi-Factor Authentication Market, By End-User, 2018-2028 (USD Billion)
36. China Multi-Factor Authentication Market, By Model Type, 2018-2028 (USD Billion)
37. China Multi-Factor Authentication Market, By End-User, 2018-2028 (USD Billion)
38. India Multi-Factor Authentication Market, By Model Type, 2018-2028 (USD Billion)
39. India Multi-Factor Authentication Market, By End-User, 2018-2028 (USD Billion)
40. South America Multi-Factor Authentication Market, By Model Type, 2018-2028 (USD Billion)
41. South America Multi-Factor Authentication Market, By End-User, 2018-2028 (USD Billion)
42. Brazil Multi-Factor Authentication Market, By Model Type , 2018-2028 (USD Billion)
43. Brazil Multi-Factor Authentication Market, By End-User, 2018-2028 (USD Billion)
44. Middle East and Africa Multi-Factor Authentication Market, By Model Type, 2018-2028 (USD Billion)
45. Middle East and Africa Multi-Factor Authentication Market, By End-User, 2018-2028 (USD Billion)
46. U.A.E. Multi-Factor Authentication Market, By Model Type, 2018-2028 (USD Billion)
47. U.A.E. Multi-Factor Authentication Market, By End-User, 2018-2028 (USD Billion)
48. South Africa Multi-Factor Authentication Market, By Model Type, 2018-2028 (USD Billion)
49. South Africa Multi-Factor Authentication Market, By End-User, 2018-2028 (USD Billion)
List of Figures
1. Global Multi-Factor Authentication Market Segmentation
2. Global Multi-Factor Authentication Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Multi-Factor Authentication Market Attractiveness Analysis By Model Type
9. Global Multi-Factor Authentication Market Attractiveness Analysis By End-User.
10. Global Multi-Factor Authentication Market Attractiveness Analysis By Region
11. Global Multi-Factor Authentication Market: Dynamics
12. Global Multi-Factor Authentication Market Share by Model Type (2021 & 2028)
13. Global Multi-Factor Authentication Market Share by End-User (2021 & 2028)
14. Global Multi-Factor Authentication Market Share by Region (2021 & 2028)
15. Global Multi-Factor Authentication Market Share by Company (2020)
Market research is a method of gathering, assessing and deducing data & information about a particular market. Market research is very crucial in these days. The techniques analyze about how a product/service can be offered to the market to its end-customers, observe the impact of that product/service based on the past customer experiences, and cater their needs and demands. Owing to the successful business ventures, accurate, relevant and thorough information is the base for all the organizations because market research report/study offers specific market related data & information about the industry growth prospects, perspective of the existing customers, and the overall market scenario prevailed in past, ongoing present and developing future. It allows the stakeholders and investors to determine the probability of a business before committing substantial resources to the venture. Market research helps in solving the marketing issues challenges that a business will most likely face.
Market research is valuable because of the following reasons:
Our research report features both the aspects; qualitative and quantitative. Qualitative part provides insights about the market driving forces, potential opportunities, customer’s demands and requirement which in turn help the companies to come up with new strategies in order to survive in the long run competition. The quantitative segment offers the most credible information related to the industry. Based on the data gathering, we use to derive the market size and estimate their future growth prospects on the basis of global, region and country.
Our market research process involves with the four specific stages.
Data Collection: This stage of the market research process involves with the gathering and collecting of the market/industry related data from the sources. There are basically two types of research methods:
Data Synthesis: This stage includes the evaluation and assessment of all the data acquired from the primary and secondary research. It likewise includes in evaluating the information for any disparity watched while information gathering identified with the market. The data & information is gathered with consideration to the heterogeneity of sources. Scientific and statistical methods are implemented for synthesizing dissimilar information sets and provide the relevant data which is fundamental for formulating strategies. Our organization has broad involvement with information amalgamation where the information goes through different stages:
Market Formulation & Deduction: The last stage includes assigning the data & information in a suitable way in order to derive market size. Analyst reviews and domain based opinions based on holistic approach of market estimation combined with industry investigation additionally features a crucial role in this stage.
This stage includes with the finalization of the market size and numbers that we have gathered from primary and secondary research. With the data & information addition, we ensure that there is no gap in the market information. Market trend analysis is finished by our analysts by utilizing data extrapolation procedures, which give the most ideal figures to the market.
Data Validation: Validation is the most crucial step in the process. Validation & re-validation through scientifically designed technique and process that helps us finalize data-points to be used for final calculations. This stage also involves with the data triangulation process. Data triangulation generally implicates the cross validation and matching the data which has been collected from primary and secondary research methods.
Free Customization
Countries can be added on demand
Free yearly update on purchase of Multi/Corporate User License
Companies served till date
We serve our customers 24x7 for 365 days through calls, emails and live chat options.
Huge database of exceptional market reports bringing market intelligence to your fingertips.
SSL enabled, we offer you various secured payment options for risk free purchase.