Press release
Global Multi-Factor Authentication Market Analysis during 2022-2028
The global multi-factor authentication market is anticipated to grow at a significant CAGR of nearly 17.5% during the forecast period (2022-2028). Multi-factor authentication is a method that requires users to provide two or more verification factors to gain access to a resource such as an application, online account, or a VPN. The major factor expected to drive the market growth is the rising volume of online transactions with high adoption of digital banking by customers, and high internet penetration and the wide adoption of IoT (Internet of Things) devices. In addition, the rise in cyber-attacks during the COVID-19 pandemic, supportive government policies, and need for improved privacy along with the growth of the healthcare, retail, and banking, financial services and insurance (BFSI) industries are some causes that propel the growth of the global multi-factor authentication market during the forecast period.Some major players in the market include Okta, Inc., Microsoft Corp., and Gemalto NV, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in December 2019, RSA Security LLC entered into a partnership with Yubico to offer enterprises modern FIDO-based authentication. FIDO2-enabled "YubiKey for RSA SecurID Access" delivers secure authentication and identity assurance for the modern workforce. Further, the company added that the solution, YubiKey for RSA SecurID Access, combines a FIDO2-enabled hardware device by Yubico supported with enterprise-grade security and risk-based authentication delivered by RSA SecurID access. Furthermore, in March 2021, Okta, Inc. announced that the company is under an agreement to acquire Auth0 for $6.5 billion and is expected to close the acquisition soon.
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Market Coverage
The market number available for - 2021-2028
Base year- 2021
Forecast period- 2022-2028
Segment Covered-
By Authentication Type
By Model Type
By Component
By End User
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- Okta, Inc., Microsoft Corp., and Gemalto NV, among others.
A full report is available at: https://orionmarketreports.com/global-multi-factor-authentication-market/96744/
Global Multi-Factor Authentication Market Report by Segment
By Authentication Type
Password Authentication
Password Less Authentication
By Model Type
Multi-Factor with Two-Factor Authentication
Multi-Factor with Three-Factor Authentication
Multi-Factor with Four-Factor Authentication
Multi-Factor with Five-Factor Authentication
By Component
Hardware
Software
By End User
BFSI
Government
Travel and Immigration
Military and Defense
Commercial Security
IT and Telecommunication
Healthcare
Media and Entertainment
Other
Key questions addressed by the report
What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How has COVID-19 impacted the market?
Deviation from the pre-COVID-19 forecast
Most affected region and segment
Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?
Media Contact:
Company Name: Orion Market Reports
Contact Person: Mr. Anurag Tiwari
Email: info@orionmarketreports.com
Contact no: +91 780-304-0404
About Us:
Orion Market Reports (OMR) endeavors to provide exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.
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