The global demand for Multifactor Authentication Market is presumed to reach the market size of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period 2022 - 2028.
Multi-factor authentication requires a good identity and access management (IAM) policy (MFA). MFA is a type of authentication that requires users to provide two or more verification factors to access a resource like an app, an online account, or a VPN. Two-factor authentication (2FA), often known as two-step verification or dual-factor authentication, is a security method in which users validate their identity using two independent authentication factors. Multi-factor authentication systems are non-intrusive and do not influence a company's digital infrastructure or services, resulting in highly secure operations. Furthermore, current multi-factor authentication solutions are available to enterprises in the form of APIs that may be effortlessly integrated with the login pages of the organization.
Market Dynamics
The global multi-factor authentication market is expected to be driven by password-based authentication as password authentication provides a reasonable level of security at a low cost. Furthermore, the worldwide surge in fingerprint recognition and face recognition applications in consumer electronics is predicted to propel the passwordless multi-factor authentication industry. The rise in security breaches and cyber-attacks, coupled with a significant increase in online frauds, are among the key factors driving the market.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of multifactor authentication. The growth and trends of multifactor authentication industry provide a holistic approach to this study.
Market Segmentation
This section of the multifactor authentication market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By SolutionBy Type Of Authentication- Two-Factor
- Other Types Of Authentication
By End-User Vertical- BFSI
- Healthcare
- IT And Telecom
- Retail
- Government
- Other End-User Verticals
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Multifactor Authentication market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Multifactor Authentication Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the multifactor authentication market include CA Technologies, Inc., Fujitsu Limited, Gemalto NV. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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