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Global Multi-Factor Authentication (MFA) Market Size, Share, Trends, Growth, and Forecast 2025

04-03-2020 01:33 PM CET | IT, New Media & Software

Press release from: Valuates Reports

Global Multi-Factor Authentication (MFA) Market Size, Share,

In 2018, the global Multi-Factor Authentication (MFA) market size was estimated at USD 6230 million and is expected to reach USD 26100 million by 2025, rising at a CAGR of 19.6 percent from 2019 to 2025.

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 user's identity for a login or other transaction.

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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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Market segment by Type, the product can be split into

o Two-Factor Authentication
o Three-Factor Authentication
o Other (Four-Factor Authentication and Five-Factor Authentication)

Market segment by Application, split into

o Banking and Finance
o Government
o Travel and Immigration
o Military and Defense
o Commercial Security
o Consumer Electronics
o Healthcare
o Others

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.

Key Players

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

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