Global Multi-Factor Authentication (MFA) Market Expected To Reach 26100 Million US$ By The End Of 2025

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This report focuses on the global Multi-Factor Authentication (MFA) status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Multi-Factor Authentication (MFA) development in United States, Europe and China.

This report studies the Multi-factor Authentication (MFA) market. Multifactor authentication (MFA) is a security system that requires more than one method of authentication from independent categories of credentials to verify the users identity for a login or other transaction.

Banking, financial services and insurance (BFSI) segment contributed a largest market share during the forecast period owing to growing need for secure identification and verification techniques. By geography, North America commanded the largest market share due to plenty IT infrastructures and more financial institutions & companies in this region.

Multi-factor authentication (MFA) comes with different models such as two-factor authentication, three-factor authentication, four-factor authentication, and five-factor authentication. The two-factor authentication includes smart card with pin, smart card with biometric technology, biometric technology with pin, two biometric authentications, and one time password with pin. The three authentications include smart card with pin and biometric technology, smart card with two biometric technologies, pin with two biometric technologies, and three biometric authentications.

On the other hand, four- and five-factor authentication includes the use of smart card and pin with more than one biometric technology such as face recognition, fingerprint recognition, voice recognition, and so on. MFA model using two factors is gaining popularityin the market; occupying almost 90.88% of its share as of 2017, followed by three-, four-, and five-factor authentication respectively.

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MFA is popular due to the high degree of security and is much better than a single username and password combination. Different models of MFA have found various applications in verticals: BFSI, government, immigration & travel, commercial security, electronics and healthcare.

In 2017, the global Multi-Factor Authentication (MFA) market size was 6230 million US$ and it is expected to reach 26100 million US$ by the end of 2025, with a CAGR of 19.6% during 2018-2025.

The key players covered in this study
Morpho (France)
Gemalto (Netherlands)
NEC (Japan)
Entrust Inc. (US)
CA Technologies (US)
Fujitsu (Japan)
VASCO Data Security (US)
HID Global (US)
RSA Security (US)
Symantec Corporation (US)
SecurEnvoy ltd (England)
Crossmatch (US)
Duo Secuirty (US)
Deepnet Security (England)
CensorNet Ltd. (England)

Market segment by Type, the product can be split into
Two-Factor Authentication
Three-Factor Authentication
Other (Four-Factor Authentication and Five-Factor Authentication)

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Market segment by Application, split into
Banking and Finance
Government
Travel and Immigration
Military and Defense
Commercial Security
Consumer Electronics
Healthcare
Other

Market segment by Regions/Countries, this report covers
United States
Europe
China
Japan
Southeast Asia
India
Central & South America

The study objectives of this report are:
To analyze global Multi-Factor Authentication (MFA) status, future forecast, growth opportunity, key market and key players.
To present the Multi-Factor Authentication (MFA) development in United States, Europe and China.
To strategically profile the key players and comprehensively analyze their development plan and strategies.
To define, describe and forecast the market by product type, market and key regions.

In this study, the years considered to estimate the market size of Multi-Factor Authentication (MFA) are as follows:
History Year: 2013-2017
Base Year: 2017
Estimated Year: 2018
Forecast Year 2018 to 2025

For the data information by region, company, type and application, 2017 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.

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