Multifactor Authentication Market is Estimated to Progress at a CAGR of 16.08% during the Forecast Period, notes TMR Study

The latest research study released by Transparency Market Research on "𝐌𝐮𝐥𝐭𝐢𝐟𝐚𝐜𝐭𝐨𝐫 𝐀𝐮𝐭𝐡𝐞𝐧𝐭𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐭𝐨 𝟐𝟎𝟐𝟏-𝟐𝟎𝟑𝟏″ research provides accurate economic, global, and country-level predictions and analyses. It provides a comprehensive perspective of the competitive market as well as an in-depth supply chain analysis to assist businesses in identifying major changes in industry practices. The market report also examines the current state of the Multifactor Authentication industry, as well as predicted future growth, technological advancements, investment prospects, market economics, and financial data.

Multifactor Authentication market is estimated to attain a valuation of US$ 51.37 Bn by the end of 2031, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 16.08% during the forecast period, 2021-2031

𝐆𝐞𝐭 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐌𝐮𝐥𝐭𝐢𝐟𝐚𝐜𝐭𝐨𝐫 𝐀𝐮𝐭𝐡𝐞𝐧𝐭𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐔𝐬𝐞 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐌𝐚𝐢𝐥 𝐈𝐝 𝐟𝐨𝐫 𝐐𝐮𝐢𝐜𝐤 𝐑𝐞𝐬𝐩𝐨𝐧𝐬𝐞) -https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1400

𝐌𝐮𝐥𝐭𝐢𝐟𝐚𝐜𝐭𝐨𝐫 𝐀𝐮𝐭𝐡𝐞𝐧𝐭𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰

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

𝐒𝐦𝐚𝐫𝐭𝐩𝐡𝐨𝐧𝐞 𝐀𝐮𝐭𝐡𝐞𝐧𝐭𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐀𝐩𝐩𝐬 𝐂𝐨𝐧𝐭𝐢𝐧𝐮𝐞 𝐭𝐨 𝐆𝐫𝐨𝐰 𝐢𝐧 𝐏𝐨𝐩𝐮𝐥𝐚𝐫𝐢𝐭𝐲: 𝐊𝐞𝐲 𝐃𝐫𝐢𝐯𝐞𝐫 𝐨𝐟 𝐆𝐥𝐨𝐛𝐚𝐥 𝐌𝐮𝐥𝐭𝐢𝐟𝐚𝐜𝐭𝐨𝐫 𝐀𝐮𝐭𝐡𝐞𝐧𝐭𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭

Use of smartphones as an authentication method via soft tokens has been gaining popularity for the past few years. Apps, SMS, and telephony services are available in smartphones, and they are considered to be a highly rapid and secure way to deploy multi-factor authentication.
Various apps can be used across tablets, laptops, and phones. Some of them can support only laptops, while others support phones.
Presently, excessive integration of smartphones is expected to be a key factor driving the multifactor authentication system market
Demand over complex maintenance, high usage service limit, and increased initial investment are also boosting the multifactor authentication market

𝐄𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=1400

𝐑𝐢𝐬𝐞 𝐢𝐧 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐢𝐨𝐧 𝐭𝐨 𝐃𝐫𝐢𝐯𝐞 𝐆𝐥𝐨𝐛𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭

Stringent government regulations to increase the adoption of MFA solutions are expected to drive the multifactor authentication market
The ever-changing and dangerous landscape has resulted in a slew of new government rules, including General Data Protection Regulation (GDPR), Payment Services Directive 2 (PSD2), and Anti-Money Laundering Directive 5 (AMLD5).

These regulations have made it obligatory for every business to have sound identity authentication checks integrated into their system in order to combat frauds such as money laundering, identity theft, and terrorist funding
Stringent compliances and regulations have been a primary driver for the rapid adoption of MFA (Multifactor Authentication) solutions among organizations, owing to the large penalties assessed for non-compliance with regulatory mandates

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐨𝐫 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

The significant players operating in the global Multifactor Authentication market are

Thales Group,Micro Focus,Broadcom,Microsoft,OneSpan,Okta,RSA Security,Duo Security,Ping Identity,HID Global,ForgeRock,CyberArk,OneLogin,Oracle

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 -

𝐀𝐮𝐭𝐡𝐞𝐧𝐭𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐓𝐲𝐩𝐞

Password Authentication
Passwordless Authentication

𝐌𝐨𝐝𝐞𝐥 𝐭𝐲𝐩𝐞

Two Factor Authentication
Three Factor Authentication
Four Factor Authentication
Five Factor Authentication

𝐂𝐨𝐦𝐩𝐨𝐧𝐞𝐧𝐭

Solutions
Hardware
Services
End Use
IT & Telecommunication
BFSI
Retail
Healthcare
Others (Media & Entertainment, e- Commerce, etc.)

𝐇𝐚𝐯𝐞 𝐀𝐧𝐲 𝐐𝐮𝐞𝐫𝐲? 𝐀𝐬𝐤 𝐓𝐨 𝐀𝐧𝐚𝐥𝐲𝐬𝐭: https://www.transparencymarketresearch.com/sample/sample.php?flag=ASK&rep_id=1400

𝐌𝐮𝐥𝐭𝐢𝐟𝐚𝐜𝐭𝐨𝐫 𝐀𝐮𝐭𝐡𝐞𝐧𝐭𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐊𝐞𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬

Key providers of multifactor authentications are focused on the design of cost-effective multifactor authentication to attract more customers. Other key developments in the global multifactor authentication market have been highlighted below:

In March 2021, Okta entered into a definitive agreement to acquire Auth0 for US$ 6.5 Bn. Okta, which has focused on serving businesses with products for IAM, SSO, MFA, cloud directory services, would be strengthened by the acquisition of Auth0, which focuses more on serving customer identity and access markets. The acquisition is expected to close in July 2021.

In June 2020, Okta Inc. announced that it was coordinating with CrowdStrike Inc. Netskope, and Proofpoint, Inc. to help organizations implement an integrated, zero trust security strategy required to protect dynamic and remote working environments.

In April 2020, Microsoft announced the commercial release of a more simplified Azure Active Directory registration process that adds multifactor authentication (MFA) and self-service password reset features for end users. This MFA plus self-service password registration process is presently at the 'general availability' (GA) release stage.

𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 -

𝐒𝐢𝐥𝐨𝐬 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2022/08/08/2493892/0/en/Silos-Market-is-estimated-to-Progress-at-a-CAGR-of-3-3-during-the-Forecast-Period-notes-TMR-Study.html

𝐇𝐨𝐬𝐩𝐢𝐭𝐚𝐥 𝐃𝐢𝐬𝐢𝐧𝐟𝐞𝐜𝐭𝐚𝐧𝐭 𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2022/08/08/2494070/0/en/Hospital-Disinfectant-Products-Market-is-estimated-to-reach-US-25-09-Bn-by-2031-TMR-Study.html

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬

Nikhil Sawlani

Transparency Market Research Inc.

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