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2021
Multi-factor Authentication Market

Multi-factor Authentication Market By Authentication type (Password and Password Less), Model Type (Two-Factor Authentication, Three-Factor Authentication, Four-Factor Authentication, and Five-Factor Authentication), Component (Hardware, Solution, and Services) and End User (BFSI, Government, Travel & Immigration, Military &Defense, Commercial Security, IT, Telecommunication, Healthcare, Media & Entertainment, and Others) : Global Opportunity Analysis and Industry Forecast, 2021–2030

A13118
Pages: 260
Aug 2021 | 161 Views
   
Author(s) : Abhijith Nair , Vineet Kumar
Tables: 148
Charts: 76
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Multi-factor Authentication Market Insights - 2030

The global multi-factor authentication market size was valued at $10,300 million in 2020, and is projected to reach $40,000 million by 2030, registering a CAGR of 18% from 2021 to 2030. Multi-factor authentication (MFA) is an authentication method that requires users to provide two or more verification factors to gain access to a resource such as an application, online account, or a VPN. MFA is a core component of a strong identity and access management (IAM) policy. Two-factor authentication (2FA), sometimes referred to as two-step verification or dual-factor authentication is a security process in which users provide two different authentication factors to verify themselves.

With a sudden rise in cyber-based attacks, during the pandemic the demand for multi-factor authentication solution has increased, creating a higher profit margin. As per a study published by the security solutions provider F5 Labs, a 220% increase in the number of phishing attacks were reported since the first phase of lockdowns started in many countries.

In term of design, multi-factor authentication solutions are non-intrusive and have no impact on rest of an organization's digital infrastructure and digital services, which creates high secure operations. In addition, modern multi-factor authentication solutions are available to organizations in the form of APIs that can be integrated seamlessly with organization’s login pages. This flexibility and feasibility of multi-factor authentication solutions promise great opportunities for future growth of the industry.

Multi-factor-Authentication-Market--2021-2030

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In 2019, the global multi-factor authentication market share was dominated by password-based authentication and is expected to maintain its dominance in the upcoming years, as password authentication provides a reasonable level of security at a low cost. Rise in instances of security breaches and cyber-attacks, coupled with big increase in online frauds, are among the key factors driving the market. Password less authentication is a type of multi-factor authentication (MFA), which replaces passwords with a more secure authentication factor, such as a fingerprint or a PIN. With MFA, two or more factors are required for verification while logging in.

Within the multi-factor authentication market, password less authentication is estimated to emerge as the fastest growing segment, owing to emergence of advanced technologies such as internet of things (IoT) and AI in devices such as smartphones and tablets. Security points like fingerprint sensors and smartcards are making smooth flow of authentication between point and allowing a seamless experience. Enterprises are making use of face recognition, voice analysis, and iris recognition to authenticate and verify its employees. Furthermore, worldwide rise in applications of fingerprint recognition and face recognition in consumer electronics is predicted to propel password less multi-factor authentication industry.

The report focuses on growth prospects, restraints, and Multi-factor authentication market analysis. The study provides Porter’s five forces analysis of the Multi-factor authentication industry to understand impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the Multi-factor authentication market trends.

Multi-factor Authentication Market
By Authentication Type

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Passwordless segment is projected as one of the most lucrative segments.

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Segment review

The multi-factor authentication market is mainly segmented into authentication type, model type, component and end user. Based on authentication type, the market is segmented into password and Password less authentication. Based on model type, the market is segmented into two factor, three factor, Multi-factor with four-factor authentication and Multi-factor with five-factor authentication. Based on component, the market is segmented into solution, hardware and services. Based on end user the market is segmented into BFSI, Government, Travel and Immigration, Military and Defense, Commercial Security, IT, Telecommunication, Healthcare, Media and Entertainment and Other. The market primarily focuses on major regions such as North America, Europe, Asia-Pacific and LAMEA.

Multi-factor Authentication Market
By Region

2030
North America 
Europe
Asia-pacific
Lamea

APAC is projected as one of the most significant region.

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Impact Of Covid-19 On Multi-factor Authentication Market

Post COVID-19, the size of the global multi-factor authentication market size is estimated to be $ 10,300 million in 2020, and is projected to reach $ 40,000 million by 2030.

With a sudden rise in cyber-based attacks, during the pandemic the demand for multi-factor authentication solution has increased, creating a higher profit margin. As per a study published by the security solutions provider F5 Labs, an 220% increase in the number of phishing attacks were reported since the first phase of lockdowns started in many countries. Such instances provoked more businesses to enhance their current security infrastructure. Furthermore, with work from home and remote working culture grew in popularity, the world witnessed a sudden surge in cyber-criminal activities that targeted many organizations and their customers. As a result, demand for better security of critical corporate assets increased, and the Multi-factor authentication market grew during the pandemic.

Top impacting factors    

Factors such as increased cyber-attacks during the pandemic and supporting government policies for increase in data privacy are the major factors that drive the market growth. However, initial installation charges and inconvenient and delay within the operations is mainly restraining the market growth. Further, growing scope for internet application and flexibility of multi-factor authentication solutions is estimated to create a lucrative opportunity during the forecast period.

Increase in cyber-attacks during the COVID-19 pandemic:

Rapid adoption of remote working model. This model further has introduced new cyber-risks for organizations and businesses, which creates a positive scope for the overall market growth. Thus, with emergence of new vulnerabilities and attack points demand for multi-factor authentication systems has increase to a positive scale. For instance, in 2020 the U.S. Department of homeland security reported a 250% increase in the number of data breaches and cyber-related attacks on federal systems over the past two years. Cybercriminals are using the pandemic as a major opportunity to increase their malicious activity by exploiting the vulnerabilities of remote employees and capitalizing on public interest. These factors are driving companies to increase security spending and strengthen their security architecture. This promises a stable growth opportunity for the global multi-factor authentication market trend during the forecast period. 

Support in government policies and drive for better privacy

Safety of consumer data is one of the main driving factors for growth of the multi-factor authentication market. Governmental policies such as the General Data Protection Regulation (GDPR) introduced by the European union strictly aim for increase in consumer data security measures. Compliance policies such as GDPR and other similar regulations increases adoption rate of multi-factor authentication solutions into their network infrastructure and user base. Moreover, additional policies such as the European Payment Service Providers Directive 2 (PSD2) and the United States California Consumer Privacy Act of 2018 (CCPA) ensure that business enterprises and organizations have adequate data protection mechanisms in place to prevent the possibility of fraud, data breaches, and identity theft.

Key Benefits For Stakeholders

  • The study provides an in-depth analysis of the Multi-factor authentication market along with current trends and future estimations to elucidate imminent investment pockets.
  • Information about key drivers, restraints, and opportunities and their impact analysis on the multi-factor authentication market growth is provided in the report.
  • Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
  • The quantitative analysis of Multi-factor authentication market forecast for the period 2020–2030 is provided to determine the multi-factor authentication market opportunity.

Key Market Segments

By Authentication Type

  • Password authentication
  • Password less authentication

By Model Type 

  • Smart card with pin
    • Smart card with biometric technology
    • Biometric technology with pin
    • Two-factor biometric technology
    • One time password with pin 
  • Multi-factor with three-factor authentication
    • Smart card with pin and biometric technology
    • Smart card with two-factor biometric technology
    • Pin with two-factor biometric technologies
    • Three-factor biometric technology 
  • Multi-factor with four-factor authentication
  • Multi-factor with five-factor authentication    

By Component

  • Solutions
  • Hardware
  • Services

By End User

  • BFSI
  • Government
  • Travel and Immigration
  • Military and Defense
  • Commercial Security
  • IT
  • Telecommunication
  • Healthcare
  • Media and Entertainment
  • Other

By Region

  • North America
    • U.S.
    • Canada
  • Europe 
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Russia
    • Rest of Europe
  • Asia-Pacific 
    • China
    • India
    • Japan
    • India
    • Australia
    • South Korea
    • Southeast Asia
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Market Players

  • MICROSOFT
  • BROADCOM
  • ONESPAN
  • OKTA
  • MICRO FOCUS
  • THALES
  • RSA SECURITY
  • DUO SECURITY (CISCO)
  • PING IDENTITY
  • HID GLOBAL
 

CHAPTER 1:INTRODUCTION
1.1.REPORT DESCRIPTION
1.2.KEY BENEFITS FOR STAKEHOLDERS
1.3.KEY MARKET SEGMENTS
1.3.1.Key market players
1.4.RESEARCH METHODOLOGY
1.4.1.Secondary research
1.4.2.Primary research
1.4.3.Analyst tools & Model Typels
CHAPTER 2:EXECUTIVE SUMMARY
2.1.KEY FINDINGS
2.1.1.Top impacting factors
2.1.2.Top investment pockets
2.2.CXO PERSPECTIVE
CHAPTER 3:MARKET OVERVIEW
3.1.MARKET DEFINITION AND SCOPE
3.2.KEY FORCES SHAPING THE MULTIFACTOR AUTHENTICATION MARKET
3.3.MARKET DYNAMICS
3.3.1.Drivers
3.3.1.1.Increased cyber-attacks during the COVID-19 pandemic  
3.3.1.2.Supporting government policies and drive for better privacy 
3.3.2.Restraints
3.3.2.1.High installation charges  
3.3.2.2. Inconvenience and delay to the users 
3.3.3.Opportunities
3.3.3.1.Growing scope for internet applications  
3.3.3.2.The flexibility of multifactor authentication solutions  
3.4.COVID-19 IMPACT ANALYSIS ON THE MULTIFACTOR AUTHENTICATION MARKET
3.4.1.Impact on market size
3.4.2.Consumer trends, preferences, and budget impact
3.4.3.Economic impact
3.4.4.Key player strategies to tackle negative impact
3.4.5.Opportunity window
CHAPTER 4:MULTIFACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE
4.1.OVERVIEW
4.2.PASSWORD AUTHENTICATION
4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region
4.2.3.Market analysis, by country
4.3.PASSWORDLESS AUTHENTICATION
4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by region
4.3.3.Market analysis, by country
CHAPTER 5:MULTIFACTOR AUTHENTICATION MARKET, BY MODEL TYPE
5.1.OVERVIEW
5.2.SMART CARD WITH PIN
5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region
5.2.3.Market analysis, by country
5.3.MULTI-FACTOR WITH THREE-FACTOR AUTHENTICATION
5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region
5.3.3.Market analysis, by country
5.4.MULTI-FACTOR WITH FOUR-FACTOR AUTHENTICATION
5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast, by region
5.4.3.Market analysis, by country
5.4.MULTI-FACTOR WITH FIVE-FACTOR AUTHENTICATION
5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast, by region
5.4.3.Market analysis, by country

CHAPTER 6:MULTIFACTOR AUTHENTICATION MARKET, BY COMPONENT
6.1.OVERVIEW
6.2.SOLUTION
6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by region
6.2.3.Market analysis, by country
6.3.HARDWARE
6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by region
6.3.3.Market analysis, by country
6.4.SERVICES
6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast, by region
6.4.3.Market analysis, by country
MCHAPTER 7:MULTIFACTOR AUTHENTICATION MARKET, BY END USER
7.1.OVERVIEW
7.2.BFSI
7.2.2.Market size and forecast, by region
7.2.3.Market analysis, by country
7.3.GOVERNMENT
7.3.1.Key market trends, growth factors, and opportunities
7.3.2.Market size and forecast, by region
7.3.3.Market analysis, by country
7.4.TRAVEL AND IMMIGRATION
7.4.1.Key market trends, growth factors, and opportunities
7.4.2.Market size and forecast, by region
7.4.3.Market analysis, by country
7.5.MILITARY AND DEFENSE
7.5.1.Key market trends, growth factors, and opportunities
7.5.2.Market size and forecast, by region
7.5.3.Market analysis, by country
7.6.TELECOM
7.6.1.Key market trends, growth factors, and opportunities
7.6.2.Market size and forecast, by region
7.6.3.Market analysis, by country
7.7.HEALTHCARE
7.7.1.Key market trends, growth factors, and opportunities
7.7.2.Market size and forecast, by region
7.7.3.Market analysis, by country
7.8.IT
7.8.1.Key market trends, growth factors, and opportunities
7.8.2.Market size and forecast, by region
7.8.3.Market analysis, by country
7.9.COMMERCIAL SECURITY
7.9.1.Key market trends, growth factors, and opportunities
7.9.2.Market size and forecast, by region
7.9.3.Market analysis, by country
7.10.MEDIA AND ENTERTAINMENT 
7.10.1.Key market trends, growth factors, and opportunities
7.10.2.Market size and forecast, by region
7.10.3.Market analysis, by country
7.11.OTHERS
7.11.1.Key market trends, growth factors, and opportunities
7.11.2.Market size and forecast, by region
7.11.3.Market analysis, by country
CHAPTER 8:MULTIFACTOR AUTHENTICATION MARKET, BY REGION
8.1.OVERVIEW
8.2.NORTH AMERICA
8.2.1.Key market trends, growth factors, and opportunities
8.2.2.Market size and forecast, By Authentication Type
8.2.3.Market size and forecast, by Model Type
8.2.4.Market size and forecast, BY COMPONENT
8.2.5.Market size and forecast, BY END USER
8.2.6.Market analysis, by country
8.2.6.1.U.S. 
8.2.6.1.1.Market size and forecast, BY AUTHENTICATION TYPE
8.2.6.1.2.Market size and forecast, BY MODEL TYPE
8.2.6.1.3.Market size and forecast, BY COMPONENT
8.2.6.1.4.Market size and forecast, BY END USER
8.2.6.2.Canada
8.2.6.2.1.Market size and forecast, BY AUTHENTICATION TYPE
8.2.6.2.2.Market size and forecast, by Model Type
8.2.6.2.3.Market size and forecast, BY COMPONENT
8.2.6.2.4.Market size and forecast, BY END USER
8.3.EUROPE
8.3.1.Key market trends, growth factors, and opportunities
8.3.2.Market size and forecast, By Authentication Type
8.3.3.Market size and forecast, by Model Type
8.3.4.Market size and forecast, BY COMPONENT
8.3.5.Market size and forecast, BY END USER
8.3.6.Market analysis, by country
8.3.6.1.UK
8.3.6.1.1.Market size and forecast, BY AUTHENTICATION TYPE
8.3.6.1.2.Market size and forecast, by Model Type
8.3.6.1.3.Market size and forecast, BY Component
8.3.6.1.4.Market size and forecast, BY END USER
8.3.6.2.Germany
8.3.6.2.1.Market size and forecast, BY AUTHENTICATION TYPE
8.3.6.2.2.Market size and forecast, by Model Type
8.3.6.2.3.Market size and forecast, BY COMPONENT
8.3.6.2.4.Market size and forecast, BY END USER
8.3.6.3.France
8.3.6.3.1.Market size and forecast, BY AUTHENTICATION TYPE
8.3.6.3.2.Market size and forecast, BY MODEL TYPE
8.3.6.3.3.Market size and forecast, BY COMPONENT
8.3.6.3.4.Market size and forecast, BY END USER
8.3.6.4.Italy
8.3.6.4.1.Market size and forecast, BY AUTHENTICATION TYPE
8.3.6.4.2.Market size and forecast, by Model Type
8.3.6.4.3.Market size and forecast, BY COMPONENT
8.3.6.4.4.Market size and forecast, BY END USER
8.3.6.5.Spain
8.3.6.5.1.Market size and forecast, BY AUTHENTICATION TYPE
8.3.6.5.2.Market size and forecast, BY MODEL TYPE
8.3.6.5.3.Market size and forecast, BY COMPONENT
8.3.6.5.4.Market size and forecast, BY END USER
8.3.6.6.Russia
8.3.6.6.1.Market size and forecast, BY AUTHENTICATION TYPE
8.3.6.6.2.Market size and forecast, BY MODEL TYPE
8.3.6.6.3.Market size and forecast, BY COMPONENT
8.3.6.6.4.Market size and forecast, BY END USER
8.3.6.7.Rest of Europe
8.3.6.7.1.Market size and forecast, BY AUTHENTICATION TYPE
8.3.6.7.2.Market size and forecast, BY MODEL TYPE
8.3.6.7.3.Market size and forecast, BY COMPONENT
8.3.6.7.4.Market size and forecast, BY END USER
8.4.ASIA-PACIFIC
8.4.1.Key market trends, growth factors, and opportunities
8.4.2.Market size and forecast, BY AUTHENTICATION TYPE
8.4.3.Market size and forecast, BY MODEL TYPE
8.4.4.Market size and forecast, BY COMPONENT
8.4.5.Market size and forecast, by Industry vertical
8.4.6.Market analysis, by country
8.4.6.1.China
8.4.6.1.1.Market size and forecast, BY AUTHENTICATION TYPE
8.4.6.1.2.Market size and forecast, BY MODEL TYPE
8.4.6.1.3.Market size and forecast, BY COMPONENT
8.4.6.1.4.Market size and forecast, BY END USER
8.4.6.2.India
8.4.6.2.1.Market size and forecast, BY AUTHENTICATION TYPE
8.4.6.2.2.Market size and forecast, by Model Type
8.4.6.2.3.Market size and forecast, BY COMPONENT
8.4.6.2.4.Market size and forecast, BY END USER
8.4.6.3.Japan
8.4.6.3.1.Market size and forecast, BY AUTHENTICATION TYPE
8.4.6.3.2.Market size and forecast, by Model Type
8.4.6.3.3.Market size and forecast, BY COMPONENT
8.4.6.3.4.Market size and forecast, by End User
8.4.6.4.Australia
8.4.6.4.1.Market size and forecast, BY AUTHENTICATION TYPE
8.4.6.4.2.Market size and forecast, by Model Type
8.4.6.4.3.Market size and forecast, BY COMPONENT
8.4.6.4.4.Market size and forecast, BY END USER
8.4.6.5.South Korea
8.4.6.5.1.Market size and forecast, BY AUTHENTICATION TYPE
8.4.6.5.2.Market size and forecast, by Model Type
8.4.6.5.3.Market size and forecast, BY COMPONENT
8.4.6.5.4.Market size and forecast, BY END USER
8.4.6.6.Southeast Asia
8.4.6.6.1.Market size and forecast, BY AUTHENTICATION TYPE
8.4.6.6.2.Market size and forecast, by Model Type
8.4.6.6.3.Market size and forecast, BY COMPONENT
8.4.6.6.4.Market size and forecast, BY END USER
8.4.6.7.Rest of Asia-Pacific
8.4.6.7.1.Market size and forecast, BY AUTHENTICATION TYPE
8.4.6.7.2.Market size and forecast, by Model Type
8.4.6.7.3.Market size and forecast, BY COMPONENT
8.4.6.7.4.Market size and forecast, BY END USER
8.5.LAMEA
8.5.1.Key market trends, growth factors, and opportunities
8.5.2.Market size and forecast, BY AUTHENTICATION TYPE
8.5.3.Market size and forecast, by Model Type
8.5.4.Market size and forecast, BY COMPONENT
8.5.5.Market size and forecast, BY END USER
8.5.6.Market analysis, by country
8.5.6.1.Latin America
8.5.6.1.1.Market size and forecast, BY AUTHENTICATION TYPE
8.5.6.1.2.Market size and forecast, by Model Type
8.5.6.1.3.Market size and forecast, BY COMPONENT
8.5.6.1.4.Market size and forecast, by industry vertical
8.5.6.2.Middle East
8.5.6.2.1.Market size and forecast, BY AUTHENTICATION TYPE
8.5.6.2.2.Market size and forecast, by Model Type
8.5.6.2.3.Market size and forecast, BY COMPONENT
8.5.6.2.4.Market size and forecast, by industry vertical
8.5.6.3.Africa
8.5.6.3.1.Market size and forecast, BY AUTHENTICATION TYPE
8.5.6.3.2.Market size and forecast, by Model Type
8.5.6.3.3.Market size and forecast, BY COMPONENT
8.5.6.3.4.Market size and forecast, by industry vertical
CHAPTER 9:COMPETITIVE LANDSCAPE
9.1.KEY PLAYER POSITIONING ANALYSIS, 2019
9.2.TOP WINNING STRATEGIES
9.3.COMPETITIVE DASHBOARD
CHAPTER 10:COMPANY PROFILE
10.1.MICROSOFT
10.1.1.Company overview
10.1.2.Key executives
10.1.3.Company snapshot
10.1.4.Product portfolio
10.1.5.Key strategic moves and developments
10.2.BROADCOM. 
10.2.1.Company overview
10.2.2.Key executives
10.2.3.Company snapshot
10.2.4.Operating business segments
10.2.5.Product portfolio
10.2.6.Business performance
10.2.7.Key strategic moves and developments
10.3.ASPECT SOFTWARE
10.3.1.Company overview
10.3.2.Key executives
10.3.3.Company snapshot
10.3.4.Operating business segments
10.3.5.Product portfolio
10.3.6.Business performance
10.3.7.Key strategic moves and developments

10.4.ONESPAN
10.4.1.Company overview
10.4.2.Key executives
10.4.3.Company snapshot
10.4.4.Product portfolio
10.4.5.Key strategic moves and developments
10.5.OKTA 
10.5.1.Company overview
10.5.2.Key executives
10.5.3.Company snapshot
10.5.4.Operating business segments
10.5.5.Product portfolio
10.5.6.R&D expenditure
10.5.7.Business performance
10.5.8.Key strategic moves and developments
10.6.MICRO FOCUS
10.6.1.Company overview
10.6.2.Key executives
10.6.3.Company snapshot
10.6.4.Operating business segments
10.6.5.Product portfolio
10.6.6.R&D expenditure
10.6.7.Business performance
10.6.8.Key strategic moves and developments
10.7.THALES
10.7.1.Company overview
10.7.2.Key executives
10.7.3.Company snapshot
10.7.4.Operating business segments
10.7.5.Product portfolio
10.7.6.R&D Expenditure
10.7.7.Business performance
10.7.8.Key strategic moves and developments
10.8.RSA SECURITY
10.8.1.Company overview
10.8.2.Key executives
10.8.3.Company snapshot
10.8.4.Product portfolio
10.8.5.Key strategic moves and developments
10.9.DUO SECURITY (CISCO)
10.9.1.Company overview
10.9.2.Key executives
10.9.3.Company snapshot
10.9.4.Operating business segments
10.9.5.Product portfolio
10.9.6.R&D expenditure
10.9.7.Business performance
10.9.8.Key strategic moves and developments
10.10.HID GLOBAL 
10.10.1.Company overview
10.10.2.Key executives
10.10.3.Company snapshot
10.10.4.Operating business segments
10.10.5.Product portfolio
10.10.6.R&D expenditure
10.10.7.Business performance
10.10.8.Key strategic moves and developments


LIST OF TABLES
Table 01Multifactor Authentication market, By Model Type, 2020-2030 ($Million) 
Table 02Multifactor Authentication market for Password Authentication, BY REGION, 2020-2030 ($MILLION) 
Table 03Multifactor Authentication market FOR Passwordless Authentication, BY REGION, 2020-2030 ($Million)
Table 04GLOBAL MULTIFACTOR AUTHENTICATION MARKET, BY Model Type, 2020-2030($MILLION) 
Table 05MULTIFACTOR AUTHENTICATION MARKET REVENUE FOR Smart Card with Pin, by region 2020-2030($MILLION) 
Table 06MULTIFACTOR AUTHENTICATION MARKET REVENUE FOR Multi-factor with three-factor authentication, by region, 2020-2030($MILLION) 
Table 07MULTIFACTOR AUTHENTICATION MARKET REVENUE FOR Multi-factor with four-factor authentication, by region, 2020-2030($MILLION) 
Table 08Multifactor Authentication market, BY COMPONENT, 2020-2030 ($Million) 
Table 09Multifactor Authentication market for Solution, BY REGION, 2020-2030 ($Million) 
Table 10Hardware Multifactor Authentication market, BY REGION, 2020-2030 ($Million) 
Table 11Services Multifactor Authentication market, BY REGION, 2020-2030 ($Million) 
Table 12Multifactor Authentication market, BY END USERs, 2020-2030 ($MILLION) 
Table 13Multifactor Authentication market FOR bfsi, BY REGION, 2020-2030 ($MILLION) 
Table 14Multifactor Authentication market FOR retail and e-commerce, BY REGION, 2020-2030 ($MILLION) 
Table 15Multifactor Authentication market FOR Travel and Immigration, BY REGION, 2020-2030 ($MILLION) 
Table 16Multifactor Authentication market FOR Military and Defense, BY REGION, 2020-2030 ($MILLION) 
Table 17Multifactor Authentication market FOR telecom, BY REGION, 2020-2030 ($MILLION) 
Table 18Multifactor Authentication market FOR telecom, BY REGION, 2020-2030 ($MILLION) 
Table 19Multifactor Authentication market FOR IT, BY REGION, 2020-2030 ($MILLION) 
Table 20Multifactor Authentication market FOR Commercial Security, BY REGION, 2020-2030 ($MILLION) 
Table 21Multifactor Authentication market FOR real estate, BY REGION, 2020-2030 ($MILLION) 
Table 22Multifactor Authentication market FOR real estate, BY others, 2020-2030 ($MILLION) 
Table 23Multifactor Authentication market, by Region, 2020-2030 ($MILLION) 
Table 24North America Multifactor Authentication market, By Authentication Type, 2020-2030 ($MILLION) 
Table 25North America Multifactor Authentication market, BY MODEL TYPE, 2020-2030 ($MILLION) 
Table 26North America Multifactor Authentication market, BY COMPONENT, 2020-2030 ($MILLION) 
Table 27North America Multifactor Authentication market, BY END USER, 2020-2030 ($MILLION) 
Table 28north AMERICA Multifactor Authentication market, BY Country, 2020-2030 ($MILLION) 
Table 29U.S. Multifactor Authentication market, By Authentication Type, 2020-2030 ($MILLION) 
Table 30U.S. Multifactor Authentication market, BY MODEL TYPE, 2020-2030 ($MILLION) 
Table 31U.S. Multifactor Authentication market, BY COMPONENT, 2020-2030 ($MILLION) 
Table 32U.S. Multifactor Authentication market, By end user, 2020-2030 ($MILLION) 
Table 33CANADA Multifactor Authentication market, By Model Type, 2020-2030 ($MILLION) 
Table 34CANADA Multifactor Authentication market, By Component, 2020-2030 ($MILLION) 
Table 35CANADA Multifactor Authentication market, BY COMPONENT, 2020-2030 ($MILLION) 
Table 36CANADA Multifactor Authentication market, By end user, 2020-2030 ($MILLION) 
Table 37Europe Multifactor Authentication market, By Authentication Type, 2020-2030 ($MILLION) 
Table 38Europe Multifactor Authentication market, By Model Type, 2020-2030 ($MILLION) 
Table 39Europe Multifactor Authentication market, BY COMPONENT, 2020-2030 ($MILLION) 
Table 40Europe Multifactor Authentication market, BY END USER, 2020-2030 ($MILLION) 
Table 41Europe Multifactor Authentication market, BY Country, 2020-2030 ($MILLION) 
Table 42UK Multifactor Authentication market, By Authentication Type, 2020-2030 ($MILLION) 
Table 43UK Multifactor Authentication market, By Model Type, 2020-2030 ($MILLION) 
Table 44UK Multifactor Authentication market, BY COMPONENT, 2020-2030 ($MILLION) 
Table 45UK Multifactor Authentication market, By end user, 2020-2030 ($MILLION) 
Table 46GERMANY Multifactor Authentication market, BY AUTHENTICATION TYPE, 2020-2030 ($MILLION) 
Table 47GERMANY Multifactor Authentication market, By Model Type, 2020-2030 ($MILLION) 
Table 48GERMANY Multifactor Authentication market, BY COMPONENT, 2020-2030 ($MILLION) 
Table 49GERMANY Multifactor Authentication market, By Industry vertical, 2020-2030 ($MILLION) 
Table 50FRANCE Multifactor Authentication market, BY AUTHENTICATION TYPE, 2020-2030 ($MILLION) 
Table 51FRANCE Multifactor Authentication market, By Model Type, 2020-2030 ($MILLION) 
Table 52FRANCE Multifactor Authentication market, BY COMPONENT, 2020-2030 ($MILLION) 
Table 53FRANCE Multifactor Authentication market, By Industry vertical, 2020-2030 ($MILLION) 
Table 54ITALY Multifactor Authentication market, BY AUTHENTICATION TYPE, 2020-2030 ($MILLION) 
Table 55ITALY Multifactor Authentication market, By Model Type, 2020-2030 ($MILLION) 
Table 56ITALY Multifactor Authentication market, BY COMPONENT, 2020-2030 ($MILLION) 
Table 57ITALY Multifactor Authentication market, By end user, 2020-2030 ($MILLION) 
Table 58SPAIN Multifactor Authentication market, BY AUTHENTICATION TYPE, 2020-2030 ($MILLION) 
Table 59SPAIN Multifactor Authentication market, BY MODEL TYPE, 2020-2030 ($MILLION) 
Table 60SPAIN Multifactor Authentication market, BY COMPONENT, 2020-2030 ($MILLION) 
Table 61SPAIN Multifactor Authentication market, By end users, 2020-2030 ($MILLION) 
Table 62russia Multifactor Authentication market, BY AUTHENTICATION TYPE, 2020-2030 ($MILLION) 
Table 63russia Multifactor Authentication market, BY MODEL TYPE, 2020-2030 ($MILLION) 
Table 64russia Multifactor Authentication market, BY COMPONENT, 2020-2030 ($MILLION) 
Table 65russia Multifactor Authentication market, By end user, 2020-2030 ($MILLION) 
Table 66REST OF EUROPE Multifactor Authentication market, BY AUTHENTICATION TYPE, 2020-2030 ($MILLION) 
Table 67REST OF EUROPE Multifactor Authentication market, BY MODEL TYPE, 2020-2030 ($MILLION) 
Table 68REST OF EUROPE Multifactor Authentication market, BY COMPONENT, 2020-2030 ($MILLION) 
Table 69REST OF EUROPE Multifactor Authentication market, BY END USER, 2020-2030 ($MILLION) 
Table 70Asia-Pacific Multifactor Authentication market, BY AUTHENTICATION TYPE, 2020-2030 ($MILLION) 
Table 71Asia-Pacific Multifactor Authentication market, BY MODEL TYPE, 2020-2030 ($MILLION) 
Table 72Asia-Pacific Multifactor Authentication market, BY COMPONENT, 2020-2030 ($MILLION) 
Table 73Asia-Pacific Multifactor Authentication market, By Industry vertical, 2020-2030 ($MILLION) 
Table 74Asia-Pacific Multifactor Authentication market, BY Country, 2020-2030 ($MILLION) 
Table 75CHINA Multifactor Authentication market, BY AUTHENTICATION TYPE, 2020-2030 ($MILLION) 
Table 76CHINA Multifactor Authentication market, By Model Type, 2020-2030 ($MILLION) 
Table 77CHINA Multifactor Authentication market, BY COMPONENT, 2020-2030 ($MILLION) 
Table 78CHINA Multifactor Authentication market, By Industry vertical, 2020-2030 ($MILLION) 
Table 79INDIA Multifactor Authentication market, By Authentication Type, 2020-2030 ($MILLION) 
Table 80INDIA Multifactor Authentication market, By Model Type, 2020-2030 ($MILLION) 
Table 81INDIA Multifactor Authentication market, BY COMPONENT, 2020-2030 ($MILLION) 
Table 82INDIA Multifactor Authentication market, By Industry vertical, 2020-2030 ($MILLION) 
Table 83JAPAN Multifactor Authentication market, BY AUTHENTICATION TYPE, 2020-2030 ($MILLION) 
Table 84JAPAN Multifactor Authentication market, By Component, 2020-2030 ($MILLION) 
Table 85JAPAN Multifactor Authentication market, BY COMPONENT, 2020-2030 ($MILLION) 
Table 86JAPAN Multifactor Authentication market, By end user, 2020-2030 ($MILLION) 
Table 87AUSTRALIA Multifactor Authentication market, BY AUTHENTICATION TYPE, 2020-2030 ($MILLION) 
Table 88AUSTRALIA Multifactor Authentication market, By Model Type, 2020-2030 ($MILLION) 
Table 89AUSTRALIA Multifactor Authentication market, BY COMPONENT, 2020-2030 ($MILLION) 
Table 90AUSTRALIA Multifactor Authentication market, By Industry vertical, 2020-2030 ($MILLION) 
Table 91south korea Multifactor Authentication market, BY AUTHENTICATION TYPE, 2020-2030 ($MILLION) 
Table 92south korea Multifactor Authentication market, By Model Type, 2020-2030 ($MILLION) 
Table 93south korea Multifactor Authentication market, BY COMPONENT, 2020-2030 ($MILLION) 
Table 94south korea Multifactor Authentication market, BY END USER, 2020-2030 ($MILLION) 
Table 95southeast asia Multifactor Authentication market, BY AUTHENTICATION TYPE, 2020-2030 ($MILLION) 
Table 96south korea Multifactor Authentication market, By Model Type, 2020-2030 ($MILLION) 
Table 97southeast asia Multifactor Authentication market, BY COMPONENT, 2020-2030 ($MILLION) 
Table 98south korea Multifactor Authentication market, BY END USER, 2020-2030 ($MILLION) 
Table 99REST OF ASIA-PACIFIC Multifactor Authentication market, BY AUTHENTICATION TYPE, 2020-2030 ($MILLION) 
Table 100REST OF ASIA-PACIFIC Multifactor Authentication market, By Model Type, 2020-2030 ($MILLION) 
Table 101REST OF ASIA-PACIFIC Multifactor Authentication market, BY COMPONENT, 2020-2030 ($MILLION) 
Table 102REST OF ASIA-PACIFIC Multifactor Authentication market, By Industry vertical, 2020-2030 ($MILLION) 
Table 103LAMEA Multifactor Authentication market, BY AUTHENTICATION TYPE, 2020-2030 ($MILLION) 
Table 104LAMEA Multifactor Authentication market, By Model Type, 2020-2030 ($MILLION) 
Table 105LAMEA Multifactor Authentication market, BY COMPONENT, 2020-2030 ($MILLION) 
Table 106LAMEA Multifactor Authentication market, By Industry vertical, 2020-2030 ($MILLION) 
Table 107LAMEA Multifactor Authentication market, BY Country, 2020-2030 ($MILLION) 
Table 108LATIN AMERICA Multifactor Authentication market, BY AUTHENTICATION TYPE, 2020-2030 ($MILLION) 
Table 109LATIN AMERICA Multifactor Authentication market, By Model Type, 2020-2030 ($MILLION) 
Table 110LATIN AMERICA Multifactor Authentication market, BY COMPONENT, 2020-2030 ($MILLION) 
Table 111LATIN AMERICA Multifactor Authentication market, By end users, 2020-2030 ($MILLION) 
Table 112MIDDLE EAST Multifactor Authentication market, BY AUTHENTICATION TYPE, 2020-2030 ($MILLION) 
Table 113MIDDLE EAST Multifactor Authentication market, By Model Type, 2020-2030 ($MILLION) 
Table 114MIDDLE EAST Multifactor Authentication market, BY COMPONENT, 2020-2030 ($MILLION) 
Table 115MIDDLE EAST Multifactor Authentication market, By Industry vertical, 2020-2030 ($MILLION) 
Table 116AFRICA Multifactor Authentication market, BY AUTHENTICATION TYPE, 2020-2030 ($MILLION) 
Table 117AFRICA Multifactor Authentication market, By Component, 2020-2030 ($MILLION) 
Table 118AFRICA Multifactor Authentication market, BY COMPONENT, 2020-2030 ($MILLION) 
Table 119AFRICA Multifactor Authentication market, By Industry vertical, 2020-2030 ($MILLION) 
Table 120MICROSOFT: KEY EXECUTIVES
Table 121MICROSOFT: company Snapshot
Table 122MICROSOFT: PRODUCT portfolio
Table 123Amazon.com Inc.: KEY EXECUTIVES
Table 124BROADCOM.: company Snapshot
Table 125Amazon.com Inc.: Operating segments
Table 126Amazon.com Inc.: PRODUCT portfolio
Table 127ONESPAN.: Key strategic moves and developments
Table 128OKTA: KEY EXECUTIVES
Table 129OKTA: company Snapshot
Table 130OKTA: Operating segments
Table 131OKTA: PRODUCT portfolio
Table 132MICRO FOCUS: KEY EXECUTIVES
Table 133MICRO FOCUS: company Snapshot
Table 134THALES: KEY EXECUTIVES
Table 135THALES: company Snapshot
Table 136THALES: Operating segments
Table 137THALES: PRODUCT portfolio
Table 138RSA SECURITY.: KEY EXECUTIVES
Table 139RSA SECURITY.: company Snapshot
Table 140RSA SECURITY.: PRODUCT portfolio
Table 141DUO SECURITY (CISCO): KEY EXECUTIVES
Table 142DUO SECURITY (CISCO): company Snapshot
Table 143DUO SECURITY (CISCO): Operating segments
Table 144DUO SECURITY (CISCO): PRODUCT portfolio
Table 145HID Global: KEY EXECUTIVES
Table 146HID GLOBAL: company Snapshot
Table 147HID GLOBAL: Operating segments
Table 148HID Global: PRODUCT portfolio
LIST OF FIGURES
Figure 01Key market segments
Figure 02Top impacting factors
Figure 03Top investment pockets
Figure 04Model Typerate-to-High bargaining power of suppliers
Figure 05Model Typerate-to-high bargaining power of buyers
Figure 06Model Typerate threat of substitutes
Figure 07Model Typerate-TO-high threat of new entrants
Figure 08High competitive rivalry
Figure 09Market Dynamics: global Multifactor Authentication market
Figure 10Multifactor Authentication market, By Model Type, 2020-2030 ($Million) 
Figure 11COMPARATIVE SHARE ANALYSIS OF Multifactor Authentication market for Password Authentication BY COUNTRY,  2020 & 2030 (%)
Figure 12COMPARATIVE SHARE ANALYSIS OF Multifactor Authentication market for Passwordless Authentication, BY COUNTRY,  2020 & 2030 (%)
Figure 13GLOBAL MULTIFACTOR AUTHENTICATION MARKET REVENUE, BY Model Type, 2020-2030 ($MILLION) 
Figure 14COMPARATIVE SHARE ANALYSIS OF MULTIFACTOR AUTHENTICATION MARKET for Smart Card with Pin,  BY COUNTRY, 2020 & 2030 (%)
Figure 15COMPARATIVE SHARE ANALYSIS OF MULTIFACTOR AUTHENTICATION MARKET for Multi-factor with three-factor authentication,  BY COUNTRY, 2020 & 2030 (%)
Figure 16COMPARATIVE SHARE ANALYSIS OF MULTIFACTOR AUTHENTICATION MARKET for Multi-factor with four-factor authentication, BY COUNTRY,  2020 & 2030 (%)
Figure 17Multifactor Authentication market, BY COMPONENT, 2020-2030 ($Million) 
Figure 18COMPARATIVE SHARE ANALYSIS OF Solution Multifactor Authentication market, BY COUNTRY,  2020 & 2030 (%)
Figure 19COMPARATIVE SHARE ANALYSIS OF Hardware Multifactor Authentication market, BY COUNTRY,  2020 & 2030 (%)
Figure 20COMPARATIVE SHARE ANALYSIS OF Services Multifactor Authentication market, BY COUNTRY,  2020 & 2030 (%)
Figure 21COMPARATIVE SHARE ANALYSIS OF mobile applications Multifactor Authentication market, BY COUNTRY,  2020 & 2030 (%)
Figure 22Multifactor Authentication market, BY END USER, 2020-2030 ($MILLION) 
Figure 23COMPARATIVE SHARE ANALYSIS OF Multifactor Authentication market for bfsi, BY COUNTRY,  2020 & 2030 (%)
Figure 24COMPARATIVE SHARE ANALYSIS OF Multifactor Authentication market for retail and e-commerce, BY COUNTRY,  2020 & 2030 (%)
Figure 25COMPARATIVE SHARE ANALYSIS OF Multifactor Authentication market for Travel and Immigration,  BY COUNTRY, 2020 & 2030 (%)
Figure 26COMPARATIVE SHARE ANALYSIS OF Multifactor Authentication market for Military and Defense, BY COUNTRY, 2020 & 2030 (%)
Figure 27COMPARATIVE SHARE ANALYSIS OF Multifactor Authentication market for telecom, BY COUNTRY,  2020 & 2030 (%)
Figure 28COMPARATIVE SHARE ANALYSIS OF Multifactor Authentication market for government, BY COUNTRY,  2020 & 2030 (%)
Figure 29COMPARATIVE SHARE ANALYSIS OF Multifactor Authentication market for IT, BY COUNTRY,  2020 & 2030 (%)
Figure 30COMPARATIVE SHARE ANALYSIS OF Multifactor Authentication market for Commercial Security, BY COUNTRY,  2020 & 2030 (%)
Figure 31COMPARATIVE SHARE ANALYSIS OF Multifactor Authentication market for real estate, BY COUNTRY,  2020 & 2030 (%)
Figure 32COMPARATIVE SHARE ANALYSIS OF Multifactor Authentication market for real estate, BY COUNTRY,  2020 & 2030 (%)
Figure 33U.S. Multifactor Authentication market, 2020-2030 ($MILLION) 
Figure 34CANADA Multifactor Authentication market, 2020-2030 ($MILLION) 
Figure 35UK Multifactor Authentication market, 2020-2030 ($MILLION) 
Figure 36GERMANY Multifactor Authentication market, 2020-2030 ($MILLION) 
Figure 37FRANCE Multifactor Authentication market, 2020-2030 ($MILLION) 
Figure 38ITALY Multifactor Authentication market, 2020-2030 ($MILLION) 
Figure 39SPAIN Multifactor Authentication market, 2020-2030 ($MILLION) 
Figure 40Russia Multifactor Authentication market, 2020-2030 ($MILLION) 
Figure 41REST OF EUROPE Multifactor Authentication market, 2020-2030 ($MILLION) 
Figure 42CHINA Multifactor Authentication market, 2020-2030 ($MILLION) 
Figure 43INDIA Multifactor Authentication market, 2020-2030 ($MILLION) 
Figure 44JAPAN Multifactor Authentication market, 2020-2030 ($MILLION) 
Figure 45AUSTRALIA Multifactor Authentication market, 2020-2030 ($MILLION) 
Figure 46south korea Multifactor Authentication market, 2020-2030 ($MILLION) 
Figure 47southeast asia Multifactor Authentication market, 2020-2030 ($MILLION) 
Figure 48REST OF ASIA-PACIFIC Multifactor Authentication market, 2020-2030 ($MILLION) 
Figure 49LATIN AMERICA Multifactor Authentication market, 2020-2030 ($MILLION) 
Figure 50MIDDLE EAST Multifactor Authentication market, 2020-2030 ($MILLION) 
Figure 51AFRICA Multifactor Authentication market, 2020-2030 ($MILLION) 
Figure 52KEY PLAYER POSITIONING ANALYSIS: GLOBAL Multifactor Authentication market
Figure 53Top Winning Strategies, By Year, 2019-2021
Figure 54Top Winning Strategies, By Development, 2019-2021
Figure 55Top Winning Strategies, By Company, 2019-2021
Figure 56Competitive dashboard
Figure 57COMPETITIVE HEATMAP OF KEY PLAYERS
Figure 58Amazon.com, Inc.: Revenue, 2018-2020 ($MILLION) 
Figure 59Amazon.com, Inc.: Revenue share by segment, 2020 (%)
Figure 60Amazon.com, Inc.: Revenue share by Region, 2020 (%)
Figure 61R&D Expenditure, 2018-2020 ($MILLION) 
Figure 62OKTA: Revenue, 2018-2020 ($MILLION) 
Figure 63OKTA: Revenue share BY Segment, 2020 (%)
Figure 64OKTA: Revenue share BY REGION, 2020 (%)
Figure 65R&D Expenditure, 2018-2020 ($MILLION) 
Figure 66R&D Expenditure, 2018-2020 ($MILLION) 
Figure 67THALES: Revenue, 2018-2020 ($MILLION) 
Figure 68THALES: Revenue share, BY Segment, 2020 (%)
Figure 69THALES: Revenue share, BY Region, 2020 (%)
Figure 70DUO SECURITY (CISCO): Revenue, 2018–2020 ($MILLION) 
Figure 71DUO SECURITY (CISCO): Revenue share by segment, 2020 (%)
Figure 72DUO SECURITY (CISCO): Revenue share by Region, 2020 (%)
Figure 73R&D expenditure, 2018-2020 ($MILLION) 
Figure 74HID Global: Revenue, 2018-2020 ($MILLION) 
Figure 75HID Global: Revenue share by segment, 2020 (%)
Figure 76HID Global: Revenue share BY REGION, 2020 (%)

 
 

According to CXOs of major companies, the multifactor authentication market is experiencing a rapid growth . Over the past few decades, the world has been experiencing a gradual change toward digitization of various services from entertainment to critical financial and security. This shift toward online and digital services increased further during the COVID-19 pandemic. For instance, JPMorgan Chase Bank, a major banking services provider based in the U.S., reported around 6% increase in their digital services in their third quarter of 2020 and 10% increase in their number of mobile and smartphone-based users for year 2020 in previous years. These trends showcase shift toward rising internet applications and hence, growth in need for adding higher security to them.

The multifactor authentication market is competitive and comprises a number of regional and global vendors competing based on factors such as cost of solutions & services, reliability, efficiency of products, and support services. The market is concentrated with major players consuming 45-50% of the share. The degree of concentration is expected to remain same during the forecast period. Additionally, modern multifactor authentication solutions are available to organizations in the form of APIs that can be integrated seamlessly with the organization’s login pages.

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