Multifactor Authentication Market Growth and Forecast by IBM, Microsoft, Safran, Gemalto, NEC Corp., 3M, CA Technologies, Fujitsu, HID Global, RSA Security, Suprema HQ, Crossmatch, Securenvoy, VASCO Data Security

Global Multi-Factor Authentication Market: by Model (Two-Factor & Multi-Factor with Three-Factor Authentication, Multifactor with Four-Factor & Multifactor with Five-Factor Authentication), by Deployment Type (on Premise and on Cloud) – Forecast 2023

Market Scenario
At present the world is on the brink of a digital revolution, slowly and steadily all processes will soon start using online platforms. Thanks to this fact, the global multifactor authentication market has a bright future ahead. During the forecast period of 2018-2023, the revenues are expected to double for this market. Back in 2016 its estimated value was USD 4 billion whereas by the end of this forecast period the market is expected to generate a revenue of around USD 11 billion. On the other hand, in terms of CAGR the market will tread forward at the rate of 12.90%.

There are a number of growth propellers that drive the growth and development of this market. The rise in the demand for online transactions can be termed as a chief growth factor for this industry. As the e-commerce sector gets a tighter grip over its customers, the authentication market gets benefitted.

Additional aspects that work in the favor of the market can be listed as increased national security concerns, hike in cybecrime and higher necessity for cutting-edge authentication systems.
However, the market will face some minor constraints like expensiveness of the technology and complicated maintenance procedures. But with time, the market will overcome these minor issues.

Request a Sample Report @ https://www.marketresearchfuture.com/sample_request/1537

Multifactor Authentication – Security Redefined
Security is of utmost importance in the modern era, this is because in this age everything has digitalized. The conventional authentication methods can be breached quite easily and hence, arose the demand for better and efficient verification measures. And this is when multifactor authentication came into existence. Since its discovery, this measure has become extremely popular owing to its beneficial features. Market players have started investing heavy sums in this technology and have reaped heavy benefits from the same. Off lately, the demand for it has gone up and due to this the global multifactor authentication market is gaining impetus.

In laymen terms, multifactor authentication is basically a better authentication measure. While using it, the user is required to undergo more than one authentication measures. He or she needs to produce two proofs of their identity and only then will they be granted with an access.

Multifactor authentication has many advantages over the traditional validation methods. Some of them are the passcodes or security measures are updated at regular time intervals, it is easy to use and it provides recipients with an option to decide upon a maximum permitted number of incorrect entries. Looking at the current hype around this technology, one can easily assume that this market will register a great growth in the coming years.

Market Segmentation
The worldwide multifactor authentication market has been divided into four main parts. They can be listed as applications, models, deployment and regions.
On account of applications, the market has been separated into government institutions, commercial security, consumer electronics & healthcare, banking & finance, military & defense and travel & immigration.
When it comes to models the market has been segmented into multi-factor with five-factor authentication, two-factor authentication, multi-factor with four-factor authentication and multi-factor with three-factor authentication.
On the basis of deployment, the industry has been bifurcated into on cloud and on premises.
Region-wise, the market has its reach across various areas of the world like North America, Europe, Asia Pacific and Rest of the World.

Get Complete Report @ https://www.marketresearchfuture.com/reports/multifactor-authentication-market-1537

Market Players & Key Strategies
Some of the most prominent players of this field can be listed as Suprema HQ Inc., CA Technologies, Safran, Watchdata Technologies, NEC Corporation and Microsoft Corporation. The two major strategies used by these players to stay ahead in the competitive arena happen to be strategic expansion and novel product development.

LIST OF FIGURES
FIGURE 1 Global Multi-Factor Authentication Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Multi-Factor Authentication Market
FIGURE 4 Value Chain Of Global Multi-Factor Authentication Market
FIGURE 5 Share Of Global Multi-Factor Authentication Market In 2017, By Country (In %)
FIGURE 6 Global Multi-Factor Authentication Market, 2017-2023,
FIGURE 7 Sub Segments Of Technology
FIGURE 8 Global Multi-Factor Authentication Market Size By Technology, 2017
FIGURE 8 Share Of Global Multi-Factor Authentication Market By Technology, 2017 TO 2023
FIGURE 9 Global Multi-Factor Authentication Market Size By Applications, 2017
FIGURE 10 Share Of Global Multi-Factor Authentication Market By Applications, 2017 TO 2023
FIGURE 11 Global Multi-Factor Authentication Market Size By Industry, 2017
FIGURE 12 Share Of Global Multi-Factor Authentication Market By Industry, 2017 TO 2023

About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

Contact
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com

This release was published on openPR.