What is the value of the global multi-factor authentication market?

The global multi-factor authentication market was valued at USD 12.5 billion in 2022. It will reach USD 49.7 Bn by 2032

What is the estimated CAGR for the multi-factor authentication market between 2023 and 2032?

The multi-factor authentication market is estimated to register the highest CAGR of 15.2% between 2023 and 2032.

What are the drivers of the multi-factor authentication market?

Increasing governmental activities regarding safety of data, technological advancements, rising demand in banking sectors, and increasing trends toward the Internet of Things (IoT), cloud-based MFA, and blockchain services are driving the global market.

Which authentication type is dominant in the multi-factor authentication market?

The five-factor authentication segment is dominant in the market, with the largest market share of 31%.

What are the restraints of the multi-factor authentication market?

High initial costs for the implementation of multi-factor authentication systems, high maintenance and software update costs, and increasing cyber-attacks that result in data privacy loss are the primary factors restraining market growth.

Global Multi-Factor Authentication Market By Authentication Type (Password Authentication and Passwordless Authentication), By Model Type, By Component, By Enterprise Size, By End-User, By Region and Companies - Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Published date: Nov. 2023
Report ID: 11892
Number of Pages: 322
Format:

Overview
Table of Contents
Major Market Players
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- OneSpan
- RSA Security LLC
- NEC Corporation
- NortonLifeLock, Inc. Company Profile
- Gemalto N.V.
- Micro Focus
- HID Global
- Oracle Corporation
- Secret Double Octopus
- Microsoft Corporation Company Profile
- Duo Security
- Broadcom Inc.
- Okta, Inc.