Multi-factor Authentication Market size was valued at USD 12.13 Billion in 2021, registering a CAGR of 16.8% during the forecast period (2022-2030), and the market is projected to be worth USD 49.07 Billion by 2030.
MFA is an authentication technique that requires two or more verification factors from users in order to get access to an application, numerous online accounts, or a Virtual Private Network (VPN). MFA is an essential component of an effective Identity and Access Management (IAM) strategy since it entails extra verification processes in addition to login and password verification. The encounter of One Time Passwords (OTP) by users is a regularly utilised factor.
Multi-factor Authentication Market Research Report” was just released by Market Research Community. It is divided into several categories, including Authentication Type (Password Authentication, Passwordless Authentication), Model Type (Two Factor Authentication, Three Factor Authentication, Four Factor Authentication, Five Factor Authentication), Component (Solutions, Hardware, Services) End-use (IT & Telecommunication, BFSI, Retail, Healthcare, Others) and companies (Thales, Rsa security, Duo security (cisco), Ping identity, Hid global, Thales,Rsa security, Duo security (cisco), Ping identity, Hid global, Microsoft, Broadcom, Onespan, Okta, Micro focus), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 16.8%, over the forecast period of 2022–2030
The increased adoption of Multi-factor Authentication in the Next Generation industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Multi-factor Authentication also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Multi-factor Authentication in many sectors also boosts the market growth during the forecast period.
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||49.07 Billion|
|By Authentic Model||Two Factor Authentication, Three Factor Authentication, Four Factor Authentication, Five Factor Authentication|
|By End-use||IT & Telecommunication, BFSI, Retail, Healthcare, Others|
|By Component||Solutions, Hardware, Services|
|By Geography||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Key Players||Thales, Rsa security, Duo security (cisco), Ping identity, Hid global, Thales,Rsa security, Duo security (cisco), Ping identity, Hid global, Microsoft, Broadcom, Onespan, Okta, Micro focus|
The COVID-19 pandemic has had a substantial negative influence on the Multi-factor Authentication market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
Thales, Rsa security, Duo security (cisco), Ping identity, Hid global, Thales,Rsa security, Duo security (cisco), Ping identity, Hid global, Microsoft, Broadcom, Onespan, Okta, Micro focus
Market Segment Analysis:
By Authentication Type
- Password Authentication
- Passwordless Authentication
By Model Type
- Two Factor Authentication
- Three Factor Authentication
- Four Factor Authentication
- Five Factor Authentication
- IT & Telecommunication
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2021, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Multi-factor Authentication industries in the region.
Key Multi-factor Authentication Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Multi-factor Authentication Market segments.
– Largest Market Share Held by Industry to Industry for Multi-factor Authentication
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Multi-factor Authentication Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
To check our Table of Contents, please mail us at: [email protected]
Research MethodologyThe Market Research Community offers numerous solutions and its full addition in the research methods to be skilled at each step. We use wide-ranging resources to produce the best outcome for our customers. The achievement of a research development is completely reliant on the research methods implemented by the company. We always faithful to our clients to find opportunities by examining the global market and offering economic insights.
Market Research Community are proud of our widespread coverage that encompasses the understanding of numerous major industry domains. Company offers consistency in our research report, we also offers on the part of the analysis of forecast across a range of coverage geographies and coverage. The research teams carry out primary and secondary research to carry out and design the data collection methods.