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

By Model

1.    Research Framework

1.1. Research Objective

1.2. Product Overview

1.3. Market Segmentation

2.    Research Methodology

2.1. Qualitative Research

2.1.1.   Primary & Secondary Sources

2.2. Quantitative Research

2.2.1.   Primary & Secondary Sources

2.3. Breakdown of Primary Research Respondents, By Region

2.3.1.   Secondary Research

2.3.2.   Primary Research

2.4. Breakdown of Primary Research Respondents

2.5. Market Size Estimation

2.6. Assumption for the Study

2.7. Market Breakdown & Data Triangulation

3.    Executive Summary

4.    Global Multi-Factor Authentication (MFA) Industry Insights

4.1. Industry Value Chain Analysis

4.1.1.   Vendor Matrix

4.2. DROC Analysis

4.2.1.   Growth Drivers

4.2.2.   Restraints

4.2.3.   Opportunities

4.2.4.   Challenges

4.3. Technological Landscape

4.4. Regulatory Framework

4.5. Company market share analysis,2019

4.6. Porter’s Five forces analysis

4.6.1.   Bargaining Power of Suppliers

4.6.2.   Bargaining Power of Buyers

4.6.3.   Threat of New Entrants

4.6.4.   Threat of Substitutes

4.6.5.   Intensity of Rivalry

4.7. Strategic Outlook

5.    Global Multi-Factor Authentication (MFA) Market Overview

5.1. Market Size & Forecast 2016-2026

5.1.1.   By Value (USD)

5.2. Market Share & Forecast

5.2.1.   By Model

5.2.1.1.       Two-Factor Authentication

5.2.1.2.       Three-Factor Authentication

5.2.1.3.       Four-Factor Authentication

5.2.1.4.       Five-Factor Authentication

5.2.2.   By Application

5.2.2.1.       Banking

5.2.2.2.       BFSI

5.2.2.3.       Retail

5.2.2.4.       Government

5.2.2.5.       Healthcare

5.2.2.6.       E-commerce

5.2.2.7.       Others

5.2.3.   By Region

5.2.3.1.       North America

5.2.3.2.       Europe

5.2.3.3.       Asia Pacific

5.2.3.4.       Latin America

5.2.3.5.       Middle East & Africa

6.    North America Multi-Factor Authentication (MFA) Market

6.1. Market estimates & forecast

6.1.1.   By Model

6.1.2.   By Application

6.1.3.   By Country

6.1.3.1.       U.S

6.1.3.2.       Canada

7.    Europe Multi-Factor Authentication (MFA) Market

7.1. Market estimates & forecast

7.1.1.   By Model

7.1.2.   By Application

7.1.3.   By Country

7.1.3.1.       Germany

7.1.3.2.       U.K

7.1.3.3.       France

7.1.3.4.       Italy

7.1.3.5.       Rest of Europe

8.    Asia Pacific Multi-Factor Authentication (MFA) Market

8.1. Market estimates & forecast

8.1.1.   By Model

8.1.2.   By Application

8.1.3.   By Country

8.1.3.1.       China

8.1.3.2.       India

8.1.3.3.       Japan

8.1.3.4.       Rest of APAC

9.    Latin America Multi-Factor Authentication (MFA) Market

9.1. Market estimates & forecast

9.1.1.   By Model

9.1.2.   By Application

9.1.3.   By Country

9.1.3.1.       Brazil

9.1.3.2.       Argentina

9.1.3.3.       Rest of Latin America

10.Middle East & Africa Multi-Factor Authentication (MFA) Market

10.1.             Market estimates & forecast

10.1.1.                By Model

10.1.2.                By Application

10.1.3.                By Country

10.1.3.1.    Saudi Arabia

10.1.3.2.    UAE

10.1.3.3.    South Africa

10.1.3.4.    Rest of MEA

11.Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)*

11.1.             HID Global Corporation/ASSA ABLOY AB

11.2.             RSA Security LLC

11.3.             Safran

11.4.             Gemalto NV

11.5.             NEC Corporation

11.6.             SecureAuth Coproration

11.7.             Symantec VIP

11.8.             3M

11.9.             CA Technologies

11.10.          Fujitsu

11.11.          VASCO Data Security International Inc.

11.12.          Ping Identity Corporation

11.13.          Okta Inc

11.14.          Cross Match Technologies, Inc

11.15.          Suprema Inc, CA Inc

11.16.          Other Prominent Players

* Financial information of non-listed Companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable