According to the latest report by IMARC Group, titled “Multi-Factor Authentication Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global market. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global multi-factor authentication market reached a value of US$ 12.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 34.7 Billion by 2027, exhibiting at a CAGR of 17.8% during 2022-2027. Multi-factor authentication (MFA) is a security system that is built to protect business units and organizations from potential security breaches utilizing a multi-layered verification process. It requires an individual to provide numerous safety validation variables, including login credentials, security tokens, One-Time Passwords (OTPs), biometric verification, etc., that are unique to the user. MFA focuses on creating an elaborate defense system against unauthorized individuals accessing a database, computer device, network, physical location, etc. Consequently, multi-factor authentication finds various applications across several end-use industries, such as healthcare, banking, financial services and insurance (BFSI), defense, etc.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Multi-Factor Authentication Market Trends:
The growing incidences of security breaches, cyber-attacks, online frauds, etc., are among the key factors augmenting the multi-factor authentication market across the globe. In addition to this, the rising utilization of MFA systems to prevent ransomware attacks by verifying user identities through computer devices is also catalyzing the market growth. Furthermore, the expanding usage of these security systems to support training, services, SMS gateways, hardware, etc., is positively influencing the global market. Besides this, the launch of various favorable initiatives by government bodies to improve national security and modernize cybersecurity infrastructures is acting as another significant growth-inducing factor. Moreover, the introduction of Authentication-as-a-Service (AaaS) solutions, which provide advanced security and authentication to numerous organizations, is expected to stimulate the multi-factor authentication market in the coming years.
Key Market Segmentation:
Competitive Landscape:
By IMARC group the report has also analyzed the competitive landscape of the market with some of the Top Multi-Factor Authentication Companies being
Some of these key players include:
- Broadcom, Inc.
- HID Global Corporation
- Deepnet Security Ltd.
- Entrust Datacard Corporation
- Fujitsu Limited
- Gemalto N.V.
- Microsoft Corporation
- NEC Corporation of America
- Okta, Inc.
- Ping Identity Corporation
- RSA Security LLC
- SecureAuth Corporation
- SecurEnvoy Limited
- Suprema Inc
Breakup by Model:
- Two-Factor Authentication
- Three-Factor Authentication
- Four-Factor Authentication
- Five-Factor Authentication
Breakup by Deployment Type:
- On-Premises
- On-Cloud
Breakup by Application:
- Smart Card Authentication
- Phone-Based Authentication
- Hardware OTP Token Authentication
Breakup by Vertical:
- Banking & Finance
- Government
- Travel & Immigration
- Military & Defence
- Commercial Security
- Healthcare
- Consumer Electronics
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
TOC for the Report:
- Preface
- Scope and Methodology
- Executive Summary
- Introduction
- Global Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
List of Figures
Figure 1: Global: Multi-Factor Authentication Market: Major Drivers and Challenges
Figure 2: Global: Multi-Factor Authentication Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Multi-Factor Authentication Market: Breakup by Model (in %), 2022
Figure 4: Global: Multi-Factor Authentication Market: Breakup by Deployment Type (in %), 2022
Figure 5: Global: Multi-Factor Authentication Market: Breakup by Application (in %), 2022
Figure 6: Global: Multi-Factor Authentication Market: Breakup by Vertical (in %), 2022
Figure 7: Global: Multi-Factor Authentication Market: Breakup by Region (in %), 2022
Figure 8: Global: Multi-Factor Authentication Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 9: Global: Multi-Factor Authentication (Two-Factor Authentication) Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Global: Multi-Factor Authentication (Two-Factor Authentication) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 11: Global: Multi-Factor Authentication (Three-Factor Authentication) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Multi-Factor Authentication (Three-Factor Authentication) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Multi-Factor Authentication (Four-Factor Authentication) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Multi-Factor Authentication (Four-Factor Authentication) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Multi-Factor Authentication (Five-Factor Authentication) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Multi-Factor Authentication (Five-Factor Authentication) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Multi-Factor Authentication (On-Premises) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Multi-Factor Authentication (On-Premises) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Multi-Factor Authentication (On-Cloud) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Multi-Factor Authentication (On-Cloud) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Multi-Factor Authentication (Smart Card Authentication) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Multi-Factor Authentication (Smart Card Authentication) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Global: Multi-Factor Authentication (Phone-Based Authentication) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Global: Multi-Factor Authentication (Phone-Based Authentication) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Global: Multi-Factor Authentication (Hardware OTP Token Authentication) Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Global: Multi-Factor Authentication (Hardware OTP Token Authentication) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Global: Multi-Factor Authentication (Banking & Finance) Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Global: Multi-Factor Authentication (Banking & Finance) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Global: Multi-Factor Authentication (Government) Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Global: Multi-Factor Authentication (Government) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Global: Multi-Factor Authentication (Travel & Immigration) Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Global: Multi-Factor Authentication (Travel & Immigration) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: Global: Multi-Factor Authentication (Military & Defence) Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: Global: Multi-Factor Authentication (Military & Defence) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: Global: Multi-Factor Authentication (IT and Telecom) Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: Global: Multi-Factor Authentication (IT and Telecom) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: Global: Multi-Factor Authentication (Healthcare) Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: Global: Multi-Factor Authentication (Healthcare) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: Global: Multi-Factor Authentication (Retail and Ecommerce) Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: Global: Multi-Factor Authentication (Retail and Ecommerce) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: Global: Multi-Factor Authentication (Other Verticals) Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: Global: Multi-Factor Authentication (Other Verticals) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 43: North America: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 44: North America: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 45: United States: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 46: United States: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 47: Canada: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 48: Canada: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 49: Europe: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 50: Europe: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 51: Germany: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 52: Germany: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 53: France: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 54: France: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 55: United Kingdom: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 56: United Kingdom: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 57: Italy: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 58: Italy: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 59: Spain: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 60: Spain: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 61: Russia: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 62: Russia: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 63: Others: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 64: Others: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 65: Asia Pacific: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 66: Asia Pacific: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 67: China: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 68: China: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 69: Japan: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 70: Japan: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 71: India: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 72: India: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 73: South Korea: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 74: South Korea: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 75: Australia: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 76: Australia: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 77: Indonesia: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 78: Indonesia: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 79: Others: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 80: Others: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 81: Latin America: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 82: Latin America: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 83: Brazil: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 84: Brazil: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 85: Mexico: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 86: Mexico: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 87: Argentina: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 88: Argentina: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 89: Colombia: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 90: Colombia: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 91: Chile: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 92: Chile: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 93: Peru: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 94: Peru: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 95: Others: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 96: Others: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 97: Middle East and Africa: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 98: Middle East and Africa: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 99: Turkey: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 100: Turkey: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 101: Saudi Arabia: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 102: Saudi Arabia: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 103: Iran: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 104: Iran: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 105: United Arab Emirates: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 106: United Arab Emirates: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 107: Others: Multi-Factor Authentication Market: Sales Value (in Million US$), 2017 & 2022
Figure 108: Others: Multi-Factor Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 109: Global: Multi-Factor Authentication Industry: SWOT Analysis
Figure 110: Global: Multi-Factor Authentication Industry: Value Chain Analysis
Figure 111: Global: Multi-Factor Authentication Industry: Porter’s Five Forces Analysis
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