Multi Factor Authentication (mfa) Market Bwc19338

Global Multi-Factor Authentication (MFA) Market by Model (Two-Factor Authentication, Three-Factor Authentication, Four-Factor Authentication, and Five-Factor Authentication), by Application (Banking, BFSI, Retail, Government, Healthcare, and E-commerce, and Others), By Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America); Trend Analysis, Market Competition Scenario & Outlook, 2015-2025

  • Published Date: November 2019
  • Report ID: BWC19338
  • Available Format: PDF
  • Page: 125

Report Overview

Global Multi-Factor Authentication (MFA) Market: Overview

 

Global Multi-Factor Authentication (MFA) Market is anticipated to reach USD xxx billion by the year 2025, at a CAGR of 14.9% during the projection period 2019-2025 due to growing security concerns and usage of multi-factor authentication. The rising risk of cyber-attacks and data breaches, the mounting pressure of the data security rules, stringent regulations and the bolstering adoption of the BYOD concept among the business enterprises are driving the development of the MFA market. The main factors triggering the growth of this market are expanding internet penetration, online business transactions and new security guidelines, for which secure exchanges are required.

 

Multi-Factor Authentication (MFA) is a security framework that requires more than one technique for validation from free classes of certifications to confirm the user's identity for a login or other exchange. Two-factor confirmation (2FA), regularly referred to as two-advance check, is a security procedure where the client gives two validation factors. Two-factor validation gives an extra layer of security and makes it harder for hackers to access people's gadgets and online accounts. Two-factor validation can be accomplished utilizing any two of savvy cards, PIN, SMS application, tokens, biometrics (unique finger impression, iris, face, palm, etc.), passwords, etc. Smart card with PIN is the most frequently used for two-factor validation model, widely used in bank accounts, participation frameworks, online exchanges, and access control frameworks.

 

MFA is famous because of the high level of security and is far superior to a single username and secret phrase mix. Various models of MFA have discovered different applications in several verticals such as immigration & travel, commercial security, BFSI, government, electronics and healthcare.

 

The Global Multi-Factor Authentication (MFA) Market stands tall as one of the most proactive industry verticals, as asserted by a study report. The Study further estimates that this space would witness substantial growth during the projection period, helped by plenty of main drives that will fuel the business slants over the forecast period.

 

Global Multi-Factor Authentication (MFA) Market Segmentation

 

The Global Multi-Factor Authentication (MFA) Market is segmented on the basis of its Model, Application and Regional demand. On the basis of its model, the market is divided into Two-Factor Authentication, Three-Factor Authentication, Four-Factor Authentication, and Five-Factor Authentication. Based on its Application, the market is divided into Banking, BFSI, Retail, Government, Healthcare, and E-commerce, and Others. Geographically, the Global Multi-Factor Authentication (MFA) market is segmented on the basis of its global regions, including North America, Europe, Asia Pacific, South America, Middle-East and the rest of the world.

Global Multi-Factor Authentication (MFA) Market: Regional Insights



Based on its regional analysis, North America secured the biggest share in the Global Multi-Factor Authentication (MFA) market in the year 2018 adding revenues of nearly USD 1.84 billion to the Global Multi-Factor Authentication (MFA) Market. The region's reception of this innovation is driven by the proximity to a solid administrative system and sound advancement strategies for cybercrime shrinkage and information obtaining. The Asia-Pacific market is anticipated to develop at the most accelerated pace of 24.8% during the projection time frame inferable from the higher buyer base and the developments in countries such as China, India, and Indonesia.

 

Competitive Landscape

 

The major players in the global Multi-Factor Authentication (MFA) market include brand names like HID Global Corporation/ASSA ABLOY AB (Sweden), RSA Security LLC (US), Suprema HQ Inc. (South Korea), and Crossmatch (US), Safran (France), Gemalto NV (the Netherlands), NEC Corporation (Japan), 3M (US), CA Technologies (US), Fujitsu (Japan), VASCO Data Security International Inc. (US), among others.

 

Scope of the Report

Attribute

Details

Years Considered

Historical data – 2015-2017

Base Year – 2018

Forecast – 2019 – 2025

Facts Covered

Revenue in USD

Market Coverage

U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, South Korea UAE, South Africa, Saudi Arabia.

Product/Service Segmentation

By Model, By Application and By Region

Key Players

Multi-Factor Authentication (MFA) market include brand names like HID Global Corporation/ASSA ABLOY AB (Sweden), RSA Security LLC (US), Suprema HQ Inc. (South Korea), and Crossmatch (US), Safran (France), Gemalto NV (the Netherlands), NEC Corporation (Japan), 3M (US), CA Technologies (US), Fujitsu (Japan), VASCO Data Security International Inc. (US and other prominent players.


By Model

Ø  Two-Factor Authentication

Ø  Three-Factor Authentication

Ø  Four-Factor Authentication

Ø  Five-Factor Authentication

By Application

Ø  Banking

Ø  BFSI

Ø  Retail

Ø  Government

Ø  Healthcare

Ø  E-commerce

Ø  Others

By Region

Ø  North America

Ø  Europe

Ø  Asia Pacific

Ø  Middle East and Africa

Ø  Latin America

 

The objective of the Study:

Ø  To analyze and estimate the Global Multi-Factor Authentication (MFA) Market size, in terms of value.

Ø  To examine the market segmentation carefully and estimate the market size, in terms of value, based on the region by segmenting the Global Multi-Factor Authentication (MFA) Market t into five regions, namely, North America, Europe, Asia Pacific, Rest of the World and their leading countries.

Ø  To outline, categorize and project the Global Multi-Factor Authentication (MFA) Market based on Model, Application and Region.

Ø  To examine competitive developments in models and applications within the Global Multi-Factor Authentication (MFA) Market.

Ø  To highlight market dynamics such as drivers, restraints, opportunities, and challenges and their impact.

Ø  To provide a detailed competitive landscape, including major players, their strategic profiles, and market shares.

Business Questions Answered by the Report:

Ø  How will the market drivers, restraints, and opportunities affect the market dynamics?

Ø  What will be the market size in terms of value and volume and market statistics with a detailed classification?

Ø  Which segment dominates the market or region, and which one will be the fastest-growing, and why?

Ø  Who are the key players in the market, and what is their share?

Ø  What is the strategy adopted by key players, and how does it affect the existing and new players?


Customization Scope for the Client:

Client satisfaction is our first and last priority, and that is why BlueWeave Consulting offers customization as per client’s specific needs. The following customization options are available for the report:

Ø  Additional Company Information

Ø  Detail Analysis of five additional companies

Ø  Additional country analysis

Ø  Detailed segment analysis