Allied Market Research

Multi-factor Authentication Market Expected to Reach $40 Billion by 2030


Report Code : A13118

quote ,” North America is predicted to lead the multi-factor authentication market throughout the forecast period. Technological advancements, proliferation of smartphones, enhanced network connectivity, and high adoption rate of digital services are a number of the key factors supplementing the expansion of the regional market. Moreover, growing cases of cyber-attacks are triggering the adoption of multi-factor authentication solutions in North America. Presence of major technology players such as CA Technologies; Symantec Corporation; Vasco Data Security International, Inc.; and RSA Security LLC is anticipated to assist the market in North America to realize tremendous traction over the forecast period. The expansion of the market in North America can primarily be attributed to the presence of key multi-factor authentication market trends, investments and innovations, strict regulatory environment, and technology adoption rates.” quote

Abhijith Nair
Research Analyst, ICT at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       

According to a recent report published by Allied Market Research, titled, “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. In term of design, multi-factor authentication solutions are non-intrusive and it has no impact on the rest of organization's digital infrastructure and digital services, thereby creating a high secure operation. In addition, modern multi-factor authentication solutions are available to organizations in the form of APIs that can be integrated seamlessly with the organization’s login pages. This flexibility and feasibility of multi-factor authentication solutions promise great opportunities for future growth of the multi-factor authentication market.

In 2019, the global Multi-factor authentication market share was dominated by the 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. Growth 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 analysis, password less authentication is estimated to emerge as fastest growing segment,     owing to emergence of advanced technologies like internet of things (IoT) and AI in devices such as smartphones and tablets. Security points such as 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 the password less authentication demand.

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 market growth 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 industry grew during the pandemic.


  • By authentication type, in 2020 the password authentication is estimated to be the major shareholder. However, password less authentication is expected to witness highest growth rate during the multi-factor authentication market forecast period.
  • On the basis of model type, the two-factor segment accounted for the highest revenue in 2020, however, the multi-factor with four-factor authentication is expected to witness highest growth rate during the forecast period.
  • On the basis of component, the solution segment accounted for the highest revenue in 2020, however, the services is expected to witness highest growth rate during the forecast period
  • On the basis of end user, the BFSI sector accounted for the highest revenue in 2020, however, the healthcare segment is expected to witness highest growth rate during the forecast period.
  • Region wise, the multi-factor authentication industry was dominated by North America. However, Asia-Pacific is expected to witness significant growth in the upcoming years. 

Some of the key companies mentioned within the report are Microsoft, Broadcom, Onespan, Okta, Micro Focus, Thales, Rsa Security, Duo Security (Cisco), Ping Identity, Hid Global.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975



For Media Inquiries, Please Contact

Tushar Nagose
Communications Officer
Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at


First time buyer?
Check offers and discount on this report
To get this report

Click Here

quote 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 quote

View Report
Avenue Video Loading...

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 3,722 niche industries and company profiles on more than 12,953 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.


Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction


On-demand customization of scope of the report to exactly meet your needs

Targeted Market View

Targeted market view to provide pertinent information and save time of readers


Featured Readings


Published Date Jan 2021

Surgical Equipment Market

Download Sample

Published Date Nov 2020

Medical Implant Market

Download Sample

Get Fresh content delivered

Get insights on topics that matter to your business. Stay updated on the area that interests you.

Get Industry Data Alerts

Buy Full Version
"Multi-factor Authentication Market"
Purchase Enquiry