Multi-Factor Authentication Market Segmentation By Sales Channel, Product Type, Application & Vendors, 2025

Felton, Calif., USA, Jan. 12, 2021 — /EPR Network/ —

The global Multi-Factor Authentication Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

Global Multi-Factor Authentication Market is expected to reach USD 17.76 billion at a CAGR as the scope and its applications are rising enormously across the globe. To confirm the user’s identity for a login or other transaction, Multi-Factor Authentication (MFA) is a security system that needs more than one technique of verification from independent groups of credentials.

Key Players:

• 3M
• aPersona
• CA Technologies
• Fujitsu
• Gemalto N.V.
• NEC Corporation
• RSA Security
• Safran SA
• Symantec Corporation Ltd.
• Vasco Data Security International, Inc.

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Growth Drivers:

The multi-factor authentication market is expected to grow at a CAGR of 15.07% by 2025.

It allows administrations to use enhanced safety choices and used in various applications as high security guarantee and welfares provided for data security are documented as major factors of Multi-Factor Authentication Market that are estimated to enhance the growth in the years to come. However, requires more time for higher order authentication models and technical complexity and cost in implementing Multi-Factor Authentication are the factors that restrain overall market growth in coming years.

Model Outlook:

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

Application Outlook:

• BFSI
• Government & Defense
• Healthcare
• Travel & Immigration
• Retail & E-commerce

Regional Outlook:

Globally, North America accounts for the largest market share of Multi-Factor Authentication and is estimated to lead the overall market in the upcoming years. The reason behind the overall market growth could be rising adoption of digital services, rising use of enhanced technology, advanced network connectivity and propagation of smartphones. In addition, raising cases of cyber-attacks and presence of key manufacturers in the region will boost the overall market growth. The United States is major consumer of Multi-Factor Authentication in this region.

Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at fastest pace with the highest CAGR of about 19.0% in the foremost period. The aspects that may be ascribed to the growth comprise high demand for digital services and rising investments in numerous IoT technologies and security.

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