openPR Logo
Press release

Multifactor Authentication Market Research Report Includes COVID-19 Analysis And Share

Multifactor Authentication Market

Multifactor Authentication Market

25.09.2023 : Multifactor Authentication Market revenue is expected to grow at 16.34 % through 2023 to 2029, reaching nearly USD 37.28Bn.

Multifactor Authentication Market Report Scope and Research Methodology

Report Scope:

The Multifactor Authentication Market offers robust protection against security breaches through a multi-layered verification process. This approach involves multiple validation factors, such as login credentials, security tokens, one-time passwords (OTPs), or biometric verification, to establish the user's identity. The goal is to create a comprehensive defense system that safeguards computer devices, networks, databases, and physical locations from unauthorized access. These non-intrusive systems have minimal impact on an organization's digital infrastructure and can be seamlessly integrated into login pages.

Research Methodology:

This report analyzes market trends from 2017 to forecast market dynamics up to 2029. The base year for this analysis is 2022, with actual market figures for that year. Special attention is given to the impact of the COVID-19 pandemic on market demand and supply and its lasting effects for the following two years.

Know More About The Report: https://www.maximizemarketresearch.com/market-report/multifactor-authentication-market/14809/

What are Multifactor Authentication Market Dynamics?

Drivers:

The primary driver of market growth is the escalating number of security breaches and cyber-attacks, coupled with a significant increase in online fraud incidents. Small and medium-sized businesses are frequent targets of cyber-attacks, particularly through ransomware attacks aimed at gaining control of internet and financial accounts. Employing multi-factor authentication (MFA) systems on employees' smartphones and computers to verify user identity effectively counters such threats.

Furthermore, the expanding healthcare, retail, and banking, financial services, and insurance (BFSI) sectors are fueling the demand for authentication solutions to protect both businesses and their customers. Banks, for instance, engage in various activities such as core banking, trade finance, international payments, and online banking, all requiring secure connections for seamless transactions and user experiences. The proliferation of the Internet of Things (IoT) and cloud-based services also contributes to market growth.

Restraints:

Despite the benefits of strong authentication methods, some misconceptions have hindered widespread adoption of MFA solutions. Additionally, integration challenges with existing IT infrastructure have posed difficulties for many small businesses. End-user resistance remains a significant barrier to MFA solution adoption.

Multifactor Authentication Market Segmentation?

Model Type:

Two-factor authentication
Multi-factor with three-factor authentication
Multi-factor with four-factor authentication
Multi-factor with five-factor authentication

The Multi-factor with five-factor authentication segment accounted for the largest market share in 2022, ensuring top-secret information remains secure. Government applications, security services, access to national data/files, data security, and innovation in national research institutes benefit significantly from this model.

End-User:

BFSI
Government
Travel and Immigration
Military and Defense
Commercial Security
IT and Telecommunication
Healthcare and Others

BFSI held the largest market share in 2022 due to the handling of vast amounts of sensitive financial data. Healthcare, as the second-largest segment, has adopted MFA to address cybersecurity threats effectively.

Who are Multifactor Authentication Market Key Players?

1. CA Technologies
2. RSA Security
3. SecureAuth Corporation
4. Gemalto
5. Microsoft Corporation
6. HID Global Corporation/ASSA ABLOY AB
7. Symantec Corporation
8. Vasco Data Security International Inc.
9. Safran
10. Okta Inc.
11. NEC Corporation
12. Ping Identity
13. Fujits
14. Entrust Datacard Corporation
15. HID Global Corporation
16. 3M
17. Suprema HQ Inc.
18. Crossmatch

Please connect with our representative, who will ensure you to get a report sample here @ : https://www.maximizemarketresearch.com/request-sample/14809

Table of content for the Multifactor Authentication Market includes:

Part 01: Executive Summary

Part 02: Scope of the Multifactor Authentication Market Report

Part 03: Global Multifactor Authentication Market Landscape

Part 04: Global Multifactor Authentication Market Sizing

Part 05: Global Multifactor Authentication Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

Get your Sample PDF: https://www.maximizemarketresearch.com/request-sample/14809

Regional Insights:

North America led the market in 2022, driven by a conducive environment for significant suppliers, robust regulatory measures, high technology adoption rates, and substantial investments in the region. Businesses in North America are increasingly adopting MFA solutions to protect against cyber-attacks, identity theft, and commercial espionage, ensuring data security and privacy.

Asia Pacific is poised to experience the highest CAGR during the forecast period. The region witnesses increased cyber-attacks and data leaks due to the prevalence of bring your own device (BYOD) and choose your own device (CYOD) policies, as well as the growing use of mobility solutions. Cybersecurity threats are on the rise in countries like China, posing a significant risk, particularly in the financial sector. Hackers targeting financial organizations can easily record usernames and passwords, emphasizing the need for MFA.

Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
Related Reports:

Acetylglucosamine Market: https://www.maximizemarketresearch.com/market-report/acetylglucosamine-market/194163/

Acoustic Sensors Market: https://www.maximizemarketresearch.com/market-report/global-acoustic-sensors-market/6840/

Adaptive Learning Market : https://www.maximizemarketresearch.com/market-report/global-adaptive-learning-market/91138/

Additive Manufacturing Market: https://www.maximizemarketresearch.com/market-report/additive-manufacturing-market/146140/

Advanced Energy Storage Systems Market : https://www.maximizemarketresearch.com/market-report/advanced-energy-storage-systems-market/1223/

Advanced Packaging Market: https://www.maximizemarketresearch.com/market-report/global-advanced-packaging-market/30807/

Contact Maximize Market Research:

MAXIMIZE MARKET RESEARCH PVT. LTD.

444 West Lake Street, Floor 17,

Chicago, IL, 60606, USA.

+1 800 507 4489 +91 9607365656

sales@maximizemarketresearch.com

www.maximizemarketresearch.com

About Maximize Market Research:

Maximize Market Research is one of the fastest-growing market research and business consulting firms serving clients globally. Our revenue impact and focused growth-driven research initiatives make us a proud partner of majority of the Fortune 500 companies. We have a diversified portfolio and serve a variety of industries such as IT & telecom, chemical, food & beverage, aerospace & defense, healthcare and others.

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 Multifactor Authentication Market Research Report Includes COVID-19 Analysis And Share here

News-ID: 3221310 • Views:

More Releases from MAXIMIZE MARKET RESEARCH PVT. LTD.

Power Semiconductor Market to Reach USD 51.83 Billion by 2030 at 3.18% CAGR - Power Semiconductor Forecast Highlights Energy-Efficiency Surge
Power Semiconductor Market to Reach USD 51.83 Billion by 2030 at 3.18% CAGR - Po …
According to a new report by Maximize Market Research, the global power semiconductor market was valued at USD 41.63 billion in 2023 and is projected to reach USD 51.83 billion by 2030, growing at a compound annual growth rate (CAGR) of 3.18% over the forecast period 2024-2030. ► Get a sample of the report:https://www.maximizemarketresearch.com/request-sample/28191/ ♦ Key Highlights Market Size & CAGR: USD 41.63 Bn in 2023, expected to reach USD 51.83 Bn by
Microneedle Drug Delivery Systems Market Set to Reach US $ 9.46 Billion by 2030 at 7.7% CAGR - Advanced Drug Delivery Forecast
Microneedle Drug Delivery Systems Market Set to Reach US $ 9.46 Billion by 2030 …
According to a new report by Maximize Market Research, the global microneedle drug delivery systems market was valued at roughly US $ 6.11 billion in 2024 and is projected to reach approximately US $ 9.46 billion by 2030, growing at a compound annual growth rate (CAGR) of around 7.7%. ► Get a sample of the report:https://www.maximizemarketresearch.com/request-sample/215694/ ♦ Key Highlights Market size & CAGR: Estimated at ~US $ 6.11 billion in 2024, forecast to
Automotive Paints Market Forecast to Reach USD 15.77 Billion by 2030 at 4.7 % CAGR - Growth Supported by Sustainability & EV-Driven Demand
Automotive Paints Market Forecast to Reach USD 15.77 Billion by 2030 at 4.7 % CA …
According to a new report by Maximize Market Research, the global automotive paints market was valued at USD 10.85 billion in 2023 and is projected to reach USD 15.77 billion by 2030, growing at a CAGR of approximately 4.7 % during 2024-2030. The forecast covers global coatings used in vehicle manufacturing and refinish applications, with a focus on key regions such as Asia-Pacific, North America and Europe. ► Get a sample
Petrochemicals Market Set to Reach USD 1,122.31 Billion by 2032 at a CAGR of 6.5% - Global Petrochemicals Forecast Highlights Robust Growth
Petrochemicals Market Set to Reach USD 1,122.31 Billion by 2032 at a CAGR of 6.5 …
According to a new report by Maximize Market Research, the global petrochemicals market was valued at USD 678.13 billion in 2024 and is projected to reach USD 1,122.31 billion by 2032, growing at a compound annual growth rate (CAGR) of 6.5% from 2025 to 2032. The growth is anchored in expanding demand across automotive, electronics, construction, and packaging industries. ► Get a sample of the report:https://www.maximizemarketresearch.com/request-sample/126575/ ♦ Key Highlights Market size + CAGR:

All 5 Releases


More Releases for Multifactor

2025-2031: Multifactor Authentication (MFA) Market Trend And Analysis
On 2025-1-20 Global Info Research released【Global Multifactor Authentication (MFA) Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031】. This report includes an overview of the development of the Multifactor Authentication (MFA) industry chain, the market status of Consumer Electronics (Nickel-Zinc Ferrite Core, Mn-Zn Ferrite Core), Household Appliances (Nickel-Zinc Ferrite Core, Mn-Zn Ferrite Core), and key enterprises in developed and developing market, and analysed the cutting-edge technology, patent, hot
Multifactor Authentication Market to See Huge Growth | Safran, Fujitsu, Gemalto
Latest Study on Industrial Growth of Global Multifactor Authentication Market 2023-2030. A detailed study accumulated to offer Latest insights about acute features of the Multifactor Authentication Market. The report contains different market predictions related to revenue size, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and
Multifactor Authentication Market is Booming Across the Globe
Transparency Market Research delivers key insights on the global multifactor authentication market. In terms of revenue, the global multifactor authentication market is estimated to expand at a CAGR of 16.08% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global multifactor authentication market. The global multifactor authentication market is broadly affected by several factors, including increase in adoption of
Multifactor Authentication Market New Research Report Analysis
Transparency Market Research delivers key insights on the global multifactor authentication market. In terms of revenue, the global multifactor authentication market is estimated to expand at a CAGR of 16.08% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global multifactor authentication market. 𝐆𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐃𝐞𝐭𝐚𝐢𝐥𝐬-https://www.transparencymarketresearch.com/multi-factor-authentication-market.html The global multifactor authentication market is broadly affected by several factors, including increase in
Multifactor Authentication Market To Expand At A CAGR of 16.08%
According to Transparency Market Research's latest research report on the global multifactor authentication market for the historical period 2017-2019 and the forecast period 2021-2031, usage of multifactor authentication in various end use sector such as healthcare, retail, etc. is expected to boost the global multifactor authentication market during the forecast period Get Repot Details- https://www.transparencymarketresearch.com/multi-factor-authentication-market.html Smartphone Authentication Apps Continue to Grow in Popularity: Key Driver of Global Multifactor Authentication Market Use of smartphones
Attractive Growth Opportunities in the Multifactor Authentication Market
The multifactor authentication market to grow from USD 6.0 billion in 2016 to USD 12.5 billion by 2022, at a compound annual growth rate (CAGR) of 15.52% during the forecast period. The major factors that are expected to be driving the multifactor authentication market are increase in data breaches & cyber-attacks and growing adoption of bring-your-own-device (BYOD) among enterprises. The objective of the report is to define, describe, and forecast