openPR Logo
Press release

Growing Demand of Multi-Factor Authentication Market | Size , Share 2022-2026

05-27-2022 10:46 AM CET | IT, New Media & Software

Press release from: MarketsandMarkets™

Multi-Factor Authentication

Multi-Factor Authentication

According to study published by MarketsandMarkets™, "Multi-Factor Authentication Market size projected to grow from USD 11.1 billion in 2021 to USD 23.5 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 16.2% during the forecast period.

Request Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=231220047

Browse in-depth TOC on "Multi-Factor Authentication Market by Component (Hardware, Solutions, and Services), Model Type (Two, Three, Four, and Five-Factor), Organization Size, End User (BFSI, Healthcare, Media and Entertainment, Government), and Region - Global Forecast to 2026"

282- Tables
49- Figures
269- Pages

Major driving factors for the MFA market include rise in security breaches, fraud, and data identity thefts, surge in use of BYOD/ IoT devices, high demand for cloud-based MFA solutions and services, high volume of online transactions, and stringent government regulations.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=231220047

By component, the services segment to register the highest growth rate during the forecast period

The services segment includes various services that are required to deploy, execute, and maintain the MFA solutions and services in an organization. As the adoption of the MFA solution increases, the demand for these services is also expected to increase. During COVID-19, the growing concern of data breaches and privacy compliance regulations is making companies focus on adopting MFA solutions to achieve compliance, improved data security, and better flexibility in operations. Major MFA vendors are widely supporting organizations with quick support services in such unprecedented times. Financial services, healthcare, and the e-commerce industry verticals have witnessed huge data losses due to security breaches. As a result, they are highly dependent on MFA solutions for strengthening their cybersecurity capabilities.

Based on end-user, the BFSI segment estimated to hold the largest market size during the forecast period

The COVID-19 outbreak has impacted every possible vertical across the globe, especially high-profile and high-value data verticals such as BFSI, healthcare, and government. With the increasing cyber threat landscape and risk surface, the demand for MFA solutions is also rising. MFA takes a holistic approach to create a layer of defense and make it difficult for an unauthorized person to gain access. The BFSI vertical is an early adopter of cutting-edge MFA solutions as they possess highly sensitive financial data. Financial institutions increasingly understand the value of technological advancements to improve the customer experience and protect themselves and their customers against the consequences of security breaches. These institutions also have a deep understanding of how MFA solutions could be used to combat threats posed by fraud and identity theft. Various government mandates, such as PSD2 and PCI-DSS, necessitate financial institutions to meet the terms and standards related to the privacy of customer data. MFA solutions and services also help the BFSI industry vertical deliver robust security, secure identities, and manage regulatory compliances.

North America to hold the largest market share during the forecast period.

North America has several prominent market players delivering MFA solutions to all end-users in the region. The US and Canada both have strong economic conditions and are expected to be major contributors to the MFA markets growth. The geographical presence, significant Research and Development (R & D) activities, partnerships, and acquisitions and mergers are the major factors for deploying MFA and services.

Browse Full Report @ https://www.marketsandmarkets.com/Market-Reports/multifactor-authentication-market-231220047.html

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: sales@marketsandmarkets.com
MnM Blog: https://mnmblog.org
Content Source: https://www.marketsandmarkets.com/PressReleases/multifactor-authentication.asp

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Growing Demand of Multi-Factor Authentication Market | Size , Share 2022-2026 here

News-ID: 2637624 • Views: 94

More Releases from MarketsandMarkets™

Asia Pacific Pharmacy Automation Market worth $725 million by 2027 - Leading Key …
According to the new market research report "Asia Pacific Pharmacy Automation Market by Product (Automated Medication Dispensing & Storage Systems, Automated Table-Top Counters, Medication Compounding), End User (Inpatient Pharmacies, Outpatient Pharmacies, Retail Pharmacies) - Forecast to 2027", published by MarketsandMarkets™, the APAC pharmacy automation market is projected to reach USD 725 million by 2027 from USD 453 million in 2022, at a CAGR of 9.8% during the forecast period. Browse in-depth
Bio Decontamination Market worth $227 million by 2027 - Leading Key Players are …
According to the new market research report "Bio Decontamination Market by Product (Equipment, Services, Consumables), Agent (Hydrogen Peroxide, Nitrogen, Peracetic Acid), Type (Room Decontamination, Chamber Decontamination), End User (Hospitals & Healthcare Facilities) - Global Forecast to 2027", published by MarketsandMarkets™, is valued at an estimated USD 159 million in 2022 and is projected to reach USD 227 million by 2027, at a CAGR of 7.3%. Browse in-depth TOC on "Bio Decontamination
Marine and Marine Management Software Market estimated to reach $2.9 billion by …
According to a new market research report "Marine and Marine Management Software Market by Component (Software and Services), Location (Onboard and Onshore), Application (Crew Management, Port Management, and Reservation Management), Deployment Mode, End User, and Region - Global Forecast to 2026" published by MarketsandMarkets™, the marine and marine management software market size to grow from USD 1.7 billion in 2021 to USD 2.9 billion by 2026, at a Compound Annual
Projected Market value of Virtual Event Platform Market : $18.9 Billion in 2026
According to a new market research report "Virtual Event Platform Market with COVID-19 Impact by Component (Platform and Services), Organization Size, End User (Corporations, Government, Education, Healthcare, Third Party Planner, Associations, Non-Profit) and Region - Global Forecast to 2026" published by MarketsandMarkets™, the market size expected to grow at a Compound Annual Growth Rate (CAGR) of 12.7% during the forecast period, to reach USD 18.9 Billion in 2026 from USD

All 5 Releases


More Releases for MFA

Global Multi-Factor Authentication (MFA) Market Size, Share, Trends, Growth, and …
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
Mode Field Adapters (MFA) Market Growth 2020-26, Lightel, DK Photonics Technolog …
The latest study on the Global Mode Field Adapters (MFA) market report represents a deep appraisal of the international industry. The research report on the worldwide Mode Field Adapters (MFA) market 2020-2026 sheds light on qualitative as well as quantitative insights, historical Mode Field Adapters (MFA) industry status and authorized projection related to the Mode Field Adapters (MFA) market size. Each and every segment exhibited in this report are discovered
Global Multi-factor Authentication (MFA) Market Data Survey Report 2025
The Global Multi-factor Authentication (MFA) Market advertise measure is relied upon to achieve USD 17.76 billion by 2025, as indicated by another examination by Grand View Research, Inc., encountering a CAGR of 15.07% amid the conjecture time frame. Expanding the execution of BYOD and cloud-based administrations crosswise over ventures, alongside the developing security directions and commands, is profiting market development. Global Multi-factor Authentication (MFA) Market validation is a rising classification
Global Multi-factor Authentication (MFA) Market Data Survey Report 2025
The Global Multi-factor Authentication (MFA) Market advertise measure is relied upon to achieve USD 17.76 billion by 2025, as indicated by another examination by Grand View Research, Inc., encountering a CAGR of 15.07% amid the conjecture time frame. Expanding the execution of BYOD and cloud-based administrations crosswise over ventures, alongside the developing security directions and commands, is profiting market development. Get sample copy of report: https://www.marketdensity.com/contact?ref=Sample&reportid=7340 Table of Contents 1 Industry Overview of
Multi-Factor Authentication (MFA) Market Comprehensive Analysis | Morpho , Gemal …
The qualitative research study conducted by HTF MI titled “Global Multi-Factor Authentication (MFA) Market Size, Status and Forecast 2025” provides primary Data, surveys, Scope of the Product and vendor briefings. The market dynamic forces have been determined after conducting a detailed study of the Global Multi-Factor Authentication (MFA) market. The study provides forecasts for Multi-Factor Authentication (MFA) investments till 2022. In 2017, the global Multi-Factor Authentication (MFA) market size was
Multi-factor Authentication (MFA) Market Insights by Size, Status and Forecast 2 …
HTF MI recently broadcasted a new study in its database that highlights the in-depth market analysis with future prospects of Multi-factor Authentication (MFA) market. The study covers significant data which makes the research document a handy resource for managers, industry executives and other key people get ready-to-access and self analyzed study along with graphs and tables to help understand market trends, drivers and market challenges. Some of the key players