Multi-Factor Authentication Market Size and Trends Report 2025: Exploring the Rise of Passwordless Solutions, Biometric Innovations, and AI-Driven Security Across Industries

The Global Multi-Factor Authentication Market size reached USD 12 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 29 billion by 2031. The market is growing at a CAGR of 13.5% during the forecast period 2024-2031.

According to DataM Intelligence has published a new research report on "Multi-Factor Authentication Market Size 2025". The report explores comprehensive and insightful Information about various key factors like Regional Growth, Segmentation, CAGR, Business Revenue Status of Top Key Players and Drivers. The purpose of this report is to provide a telescopic view of the current market size by value and volume, opportunities, and development status.

Multi-factor authentication (MFA) is a security process requiring users to verify their identity through multiple credentials, such as passwords, biometrics, or security tokens. MFA significantly enhances cybersecurity by adding layers of protection against unauthorized access. It is widely adopted in industries like banking, healthcare, and IT to secure sensitive data and systems.

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➣ Recent Developments:

United States: Recent Industry Developments

✅ In July 2025, Microsoft rolled out its phishing-resistant MFA defaults across all enterprise Microsoft 365 tenants, significantly tightening identity protection amid rising credential-based cyberattacks.

✅ In June 2025, Duo Security (Cisco) introduced passwordless MFA enhancements, integrating FIDO2-based device trust and biometric authentication for zero-trust deployments in large organizations.

✅ In May 2025, the U.S. Cybersecurity and Infrastructure Security Agency (CISA) mandated MFA adoption across all federal contractors, accelerating nationwide adoption of more secure, adaptive identity verification.

Europe: Recent Industry Developments

✅ In July 2025, the European Banking Authority (EBA) updated PSD2 guidelines to strengthen Strong Customer Authentication (SCA) requirements, pushing banks to implement behavioral biometrics alongside traditional MFA.

✅ In June 2025, Thales launched its next-gen SafeNet Trusted Access 2025, offering AI-driven risk scoring and seamless step-up authentication for high-risk transactions.

✅ In May 2025, the UK's National Cyber Security Centre (NCSC) partnered with fintech organizations to deploy context-aware MFA for secure digital payments and fraud prevention.

Asia-Pacific: Recent Industry Developments

✅ In July 2025, India's UIDAI advanced deployment of multi-factor Aadhaar authentication, integrating facial recognition as a secondary verification layer for public and private services.

✅ In June 2025, Japan's NTT Communications launched enterprise-wide biometric + token-based MFA solutions to support zero-trust architecture adoption across manufacturing and healthcare sectors.

✅ In May 2025, Australia's government introduced mandatory MFA for all critical infrastructure operators, covering energy, telecom, water utilities, and financial services.

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➣ Top Industry Players:

Okta Inc., Duo Security Inc., (Cisco Systems), Microsoft Corporation, OneLogin Inc., ForgeRock Inc., SecureAuth Corporation, Gemalto NV(Thales Group), OneSpan Inc., Entrust Datacard Corporation and RSA Security LLC.

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➣ Market Segments:

By Authentication: Password Authentication, Passwordless Authentication

By Component: Solutions, Hardware, Services

By End-User: BFSI, Healthcare, Retail & E-Commerce, Education, IT & IT Services, Government, Others

By Organization Size: Small & Medium Enterprises, Large Enterprises

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