Increasing Cyber Threats Are Driving The Growth Of The Market Due To Rising Risks To Networks And Sensitive Data Emerges as a Core Driver of the Quantum-Safe Multi-Factor Authentication Market in 2025

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What Is the Expected CAGR for the Quantum-Safe Multi-Factor Authentication Market Through 2025?_x000D_
The market size for quantum-safe multi-factor authentication has seen a considerable surge in recent years. It's projected to expand from $1.46 billion in 2024 to $1.77 billion in 2025, marking a compound annual growth rate (CAGR) of 21.2%. This growth during the historical period is a result of regulatory compliance demands, increasing utilization of encryption solutions, surge in cases of identity theft, expansion of corporate security budgets, and the application of government cyber safety policies._x000D_
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What's the Projected Size of the Global Quantum-Safe Multi-Factor Authentication Market by 2029?_x000D_
In the upcoming years, there's a forecast of substantial growth for the quantum-safe multi-factor authentication market. The market is projected to escalate to $3.77 billion by 2029, growing at a compound annual growth rate (CAGR) of 20.8%. The growth during the projected period can be linked to the emergence of quantum computing threats, AI-enabled authentication integration, the proliferation of IoT and connected devices, the necessity for passwordless authentication solutions, and its growing acceptance in the financial services industry. In the forecast period, key trends such as the growing use of biometric authentication, the development of decentralized identity solutions, utilisation of blockchain technology, the ascendance of passwordless multi-factor authentication, and the broadening of quantum-resistant cryptographic algorithms are going to be prominent._x000D_
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Top Growth Drivers in the Quantum-Safe Multi-Factor Authentication Industry: What's Accelerating the Market? _x000D_
The rise in cyber threats is projected to boost the expansion of the quantum-safe multi-factor authentication market. Cyber threats, which include harmful tools or actions targeted at stealing, damaging, or disrupting computer systems, networks, or data, are on the rise due to the fast growth in devices connected to the internet. This increase broadens the attack surface and offers more chances for harmful actors to exploit weaknesses, making systems and networks more vulnerable to breaches and attacks. Quantum-safe multi-factor authentication mitigates these cyber threats by using quantum-resistant cryptography to protect sensitive data against future attacks, while incorporating multiple verification elements to prevent unauthorized access and provide robust protection for digital identities and crucial systems across networks. For example, in November 2024, the Australian Signals Directorate, a government agency based in Australia, revealed that in the financial year (FY) 2023-24, the Australian Cyber Security Centre (ASD) had received upwards of 36,700 calls to its Cyber Security Hotline, marking an increase of 12% from the previous year. Additionally, it handled over 1,100 cyber security incidents, highlighting the continued targeting of Australian systems and persistent risks to critical networks. Therefore, the escalating cyber threats are fuelling the growth of the quantum-safe multi-factor authentication market._x000D_
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What Trends Will Shape the Quantum-Safe Multi-Factor Authentication Market Through 2029 and Beyond?_x000D_
Leading companies active in the quantum-safe multi-factor authentication market are concentrating on creating cutting-edge solutions such as professional-grade authentication techniques, designed to offer solid protection against growing cyber threats. These professional-grade authentication systems are integrative, high-security solutions for enterprise or critical applications that use multiple layers of security to prevent unauthorized access, incorporating advanced technologies like quantum-resistant cryptography, AI analytics, and hardware-based security to ensure potent, scalable shielding for delicate digital assets. For example, in September 2023, the American technology company Google LLC developed quantum-safe security keys as part of its cloud key management service (Cloud KMS), a professional-grade authentication technique that introduces quantum-safe digital signatures in compliance with the National Institute of Standards and Technology's (NIST) post-quantum cryptography standards (FIPS 204 and FIPS 205). This innovation is designed to protect information from potential quantum computing threats that could defeat current encryption strategies, enabling companies to experiment with and integrate quantum-resistant cryptographic signatures today. Google's strategy includes software and hardware support, migration plans for existing keys, and open-source implementations to promote transparency and a secure shift towards quantum-safe encryption._x000D_
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What Are the Main Segments in the Quantum-Safe Multi-Factor Authentication Market?_x000D_
The quantum-safe multi-factor authentication market covered in this report is segmented as_x000D_
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1) By Component: Hardware, Software, Services_x000D_
2) By Deployment Mode: On-Premises, Cloud_x000D_
3) By Authentication Method: Biometric, Password-Based, Token-Based, Smart Card, Other Authentication Methods_x000D_
4) By Organization Size: Small And Medium Enterprises, Large Enterprises_x000D_
5) By End-User: Banking, Financial Services, And Insurance (BFSI), Healthcare, Government, Information Technology (IT) And Telecommunications, Retail, Other End-Users_x000D_
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Subsegments:_x000D_
1) By Hardware: Security Tokens, Smart Cards, Biometric Devices, Universal Serial Bus (USB) Authentication Keys_x000D_
2) By Software: Authentication Management Software, Identity And Access Management (IAM) Solutions, Mobile Authentication Applications, Risk-Based Authentication Software_x000D_
3) By Services: Consulting Services, Integration Services, Managed Security Services, Training And Support Services_x000D_
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Which Top Companies are Driving Growth in the Quantum-Safe Multi-Factor Authentication Market?_x000D_
Major companies operating in the quantum-safe multi-factor authentication market are Microsoft Corporation, International Business Machines Corporation (IBM), Thales S.A., Infineon Technologies AG, Kudelski SA, Entrust Corporation, OneSpan Inc., MagTek Inc., Futurex Inc., SEALSQ Corporation, QuintessenceLabs Pty Ltd, SSH Communications Security Oyj, Wultra s.r.o., evolutionQ Inc., Qusecure Ltd, PQShield Ltd, Cryptonext Security SAS, Post-Quantum Ltd, Crypto Quantique Ltd, Quantum Xchange LLC. _x000D_
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Which Regions Will Dominate the Quantum-Safe Multi-Factor Authentication Market Through 2029?_x000D_
North America was the largest region in the quantum-safe multi-factor authentication market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in quantum-safe multi-factor authentication report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa._x000D_
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