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The Global Multi-Factor Authentication market is expected to reach $30.80 billion by 2027 growing at a CAGR of 18.2% from 2020 to 2027. Multi-Factor Authentication (MFA) is used to authenticate a person on the basis of factors provided by an individual. This system requires more than one process of authentication for access to be provided. Multifactor authentication is comprised of biometric, logical as well as physical procedures to surpass the security system. This layered defense system provides improved security surveillance and therefore more data security. Factors such as the growing number of security breaches and sophisticated cyberattacks, increasing adoption of online transactions, and huge investments in cloud technologies are driving the growth of the market. However, longer response time in higher-order authentication models is restraining the growth of the market. Based on the end user, the banking, financial services and insurance (BFSI) segment is going to have a lucrative growth during the forecast period due to the strong data security requirements for the sector which are demanded by the sensitive and private data they deal with. The key vendors mentioned are Trusona, Silverfort, HYPR, ForgeRock, Secret Double Octopus, OneLogin, RSA Security, Ping Identity, Oracle, Micro Focus, Okta, Microsoft, Luxchain, Keyless, OneSpan, HID Global, FusionAuth, Salesforce, ESET, Duo Security, CyberArk, Broadcom, Thales and SecureAuth. Authentication Types Covered: • Passwordless Authentication • Password Authentication Deployments Covered: • On-Cloud • On-Premises Model Types Covered: • Two-Factor Authentication • Multi-Factor with Three-Factor Authentication • Multi-Factor with Four-Factor Authentication • Multi-Factor with Five-Factor Authentication Components Covered: • Solutions • Hardware • Services Organization sizes Covered: • Small and Medium-Sized Enterprises (SMEs) • Large Enterprises Applications Covered: • Hardware One-Time Password Token Authentication • Phone-Based Authentication • Smart Card Authentication End Users Covered: • Travel and Immigration • Consumer Electronics • Retail and eCommerce • Military and Defense • Information Technology (IT) • Healthcare • Government • Education • Media and Entertainment • Commercial Security • Banking, Financial Services and Insurance (BFSI) • Administrative • Telecommunication Regions Covered: • North America • Europe • Asia Pacific • South America • Middle East & Africa Key Questions Answered in this Report: • How this market evolved since the year 2019 • Market size estimations, forecasts and CAGR for all the segments presented in the scope • Key Market Developments and financials of the key players • Opportunity Analysis for the new entrants • SWOT Analysis of the key players • Fastest growing markets analyzed during the forecast period
1 Market Synopsis
2 Research Outline
2.1 Research Snapshot
2.2 Research Methodology
2.3 Research Sources
2.3.1 Primary Research Sources
2.3.2 Secondary Research Sources
3 Market Dynamics
3.1 Drivers
3.2 Restraints
4 Market Environment
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Multi-Factor Authentication Market, By Authentication Type
5.1 Introduction
5.2 Passwordless Authentication
5.3 Password Authentication
6 Global Multi-Factor Authentication Market, By Deployment
6.1 Introduction
6.2 On-Cloud
6.3 On-Premises
7 Global Multi-Factor Authentication Market, By Model Type
7.1 Introduction
7.2 Two-Factor Authentication
7.3 Multi-Factor with Three-Factor Authentication
7.4 Multi-Factor with Four-Factor Authentication
7.5 Multi-Factor with Five-Factor Authentication
8 Global Multi-Factor Authentication Market, By Component
8.1 Introduction
8.2 Solutions
8.3 Hardware
8.4 Services
9 Global Multi-Factor Authentication Market, By Organization size
9.1 Introduction
9.2 Small and Medium-Sized Enterprises (SMEs)
9.3 Large Enterprises
10 Global Multi-Factor Authentication Market, By Application
10.1 Introduction
10.2 Hardware One-Time Password Token Authentication
10.3 Phone-Based Authentication
10.4 Smart Card Authentication
11 Global Multi-Factor Authentication Market, By End User
11.1 Introduction
11.2 Travel and Immigration
11.3 Consumer Electronics
11.4 Retail and eCommerce
11.5 Military and Defense
11.6 Information Technology (IT)
11.7 Healthcare
11.8 Government
11.9 Education
11.10 Media and Entertainment
11.11 Commercial Security
11.12 Banking, Financial Services and Insurance (BFSI)
11.13 Administrative
11.14 Telecommunication
12 Global Multi-Factor Authentication Market, By Geography
12.1 Introduction
12.2 North America
12.3 Europe
12.4 Asia Pacific
12.5 South America
12.6 Middle East & Africa
13 Strategic Benchmarking
14 Vendors Landscape
14.1 Trusona
14.2 Silverfort
14.3 HYPR
14.4 ForgeRock
14.5 Secret Double Octopus
14.6 OneLogin
14.7 RSA Security
14.8 Ping Identity
14.9 Oracle
14.10 Micro Focus
14.11 Okta
14.12 Microsoft
14.13 Luxchain
14.14 Keyless
14.15 OneSpan
14.16 HID Global
14.17 FusionAuth
14.18 Salesforce
14.19 ESET
14.20 Duo Security
14.21 CyberArk
14.22 Broadcom
14.23 Thales
14.24 SecureAuth
List of Data Tables
1 Global Multi-Factor Authentication Market Outlook, By Region (2018-2026) ($MN)
2 Global Multi-Factor Authentication Market Outlook, By Authentication Type (2018-2026) ($MN)
3 Global Multi-Factor Authentication Market Outlook, By Passwordless Authentication (2018-2026) ($MN)
4 Global Multi-Factor Authentication Market Outlook, By Password Authentication (2018-2026) ($MN)
5 Global Multi-Factor Authentication Market Outlook, By Deployment (2018-2026) ($MN)
6 Global Multi-Factor Authentication Market Outlook, By On-Cloud (2018-2026) ($MN)
7 Global Multi-Factor Authentication Market Outlook, By On-Premises (2018-2026) ($MN)
8 Global Multi-Factor Authentication Market Outlook, By Model Type (2018-2026) ($MN)
9 Global Multi-Factor Authentication Market Outlook, By Two-Factor Authentication (2018-2026) ($MN)
10 Global Multi-Factor Authentication Market Outlook, By Multi-Factor with Three-Factor Authentication (2018-2026) ($MN)
11 Global Multi-Factor Authentication Market Outlook, By Multi-Factor with Four-Factor Authentication (2018-2026) ($MN)
12 Global Multi-Factor Authentication Market Outlook, By Multi-Factor with Five-Factor Authentication (2018-2026) ($MN)
13 Global Multi-Factor Authentication Market Outlook, By Component (2018-2026) ($MN)
14 Global Multi-Factor Authentication Market Outlook, By Solutions (2018-2026) ($MN)
15 Global Multi-Factor Authentication Market Outlook, By Hardware (2018-2026) ($MN)
16 Global Multi-Factor Authentication Market Outlook, By Services (2018-2026) ($MN)
17 Global Multi-Factor Authentication Market Outlook, By Organization size (2018-2026) ($MN)
18 Global Multi-Factor Authentication Market Outlook, By Small and Medium-Sized Enterprises (SMEs) (2018-2026) ($MN)
19 Global Multi-Factor Authentication Market Outlook, By Large Enterprises (2018-2026) ($MN)
20 Global Multi-Factor Authentication Market Outlook, By Application (2018-2026) ($MN)
21 Global Multi-Factor Authentication Market Outlook, By Hardware One-Time Password Token Authentication (2018-2026) ($MN)
22 Global Multi-Factor Authentication Market Outlook, By Phone-Based Authentication (2018-2026) ($MN)
23 Global Multi-Factor Authentication Market Outlook, By Smart Card Authentication (2018-2026) ($MN)
24 Global Multi-Factor Authentication Market Outlook, By End User (2018-2026) ($MN)
25 Global Multi-Factor Authentication Market Outlook, By Travel and Immigration (2018-2026) ($MN)
26 Global Multi-Factor Authentication Market Outlook, By Consumer Electronics (2018-2026) ($MN)
27 Global Multi-Factor Authentication Market Outlook, By Retail and eCommerce (2018-2026) ($MN)
28 Global Multi-Factor Authentication Market Outlook, By Military and Defense (2018-2026) ($MN)
29 Global Multi-Factor Authentication Market Outlook, By Information Technology (IT) (2018-2026) ($MN)
30 Global Multi-Factor Authentication Market Outlook, By Healthcare (2018-2026) ($MN)
31 Global Multi-Factor Authentication Market Outlook, By Government (2018-2026) ($MN)
32 Global Multi-Factor Authentication Market Outlook, By Education (2018-2026) ($MN)
33 Global Multi-Factor Authentication Market Outlook, By Media and Entertainment (2018-2026) ($MN)
34 Global Multi-Factor Authentication Market Outlook, By Commercial Security (2018-2026) ($MN)
35 Global Multi-Factor Authentication Market Outlook, By Banking, Financial Services and Insurance (BFSI) (2018-2026) ($MN)
36 Global Multi-Factor Authentication Market Outlook, By Administrative (2018-2026) ($MN)
37 Global Multi-Factor Authentication Market Outlook, By Telecommunication (2018-2026) ($MN)
38 North America Multi-Factor Authentication Market Outlook, By Authentication Type (2018-2026) ($MN)
39 North America Multi-Factor Authentication Market Outlook, By Deployment (2018-2026) ($MN)
40 North America Multi-Factor Authentication Market Outlook, By Model Type (2018-2026) ($MN)
41 North America Multi-Factor Authentication Market Outlook, By Component (2018-2026) ($MN)
42 North America Multi-Factor Authentication Market Outlook, By Organization size (2018-2026) ($MN)
43 North America Multi-Factor Authentication Market Outlook, By Application (2018-2026) ($MN)
44 North America Multi-Factor Authentication Market Outlook, By End User (2018-2026) ($MN)
45 Europe Multi-Factor Authentication Market Outlook, By Authentication Type (2018-2026) ($MN)
46 Europe Multi-Factor Authentication Market Outlook, By Deployment (2018-2026) ($MN)
47 Europe Multi-Factor Authentication Market Outlook, By Model Type (2018-2026) ($MN)
48 Europe Multi-Factor Authentication Market Outlook, By Component (2018-2026) ($MN)
49 Europe Multi-Factor Authentication Market Outlook, By Organization size (2018-2026) ($MN)
50 Europe Multi-Factor Authentication Market Outlook, By Application (2018-2026) ($MN)
51 Europe Multi-Factor Authentication Market Outlook, By End User (2018-2026) ($MN)
52 Asia Pacific Multi-Factor Authentication Market Outlook, By Authentication Type (2018-2026) ($MN)
53 Asia Pacific Multi-Factor Authentication Market Outlook, By Deployment (2018-2026) ($MN)
54 Asia Pacific Multi-Factor Authentication Market Outlook, By Model Type (2018-2026) ($MN)
55 Asia Pacific Multi-Factor Authentication Market Outlook, By Component (2018-2026) ($MN)
56 Asia Pacific Multi-Factor Authentication Market Outlook, By Organization size (2018-2026) ($MN)
57 Asia Pacific Multi-Factor Authentication Market Outlook, By Application (2018-2026) ($MN)
58 Asia Pacific Multi-Factor Authentication Market Outlook, By End User (2018-2026) ($MN)
59 South America Multi-Factor Authentication Market Outlook, By Authentication Type (2018-2026) ($MN)
60 South America Multi-Factor Authentication Market Outlook, By Deployment (2018-2026) ($MN)
61 South America Multi-Factor Authentication Market Outlook, By Model Type (2018-2026) ($MN)
62 South America Multi-Factor Authentication Market Outlook, By Component (2018-2026) ($MN)
63 South America Multi-Factor Authentication Market Outlook, By Organization size (2018-2026) ($MN)
64 South America Multi-Factor Authentication Market Outlook, By Application (2018-2026) ($MN)
65 South America Multi-Factor Authentication Market Outlook, By End User (2018-2026) ($MN)
66 Middle East & Africa Multi-Factor Authentication Market Outlook, By Authentication Type (2018-2026) ($MN)
67 Middle East & Africa Multi-Factor Authentication Market Outlook, By Deployment (2018-2026) ($MN)
68 Middle East & Africa Multi-Factor Authentication Market Outlook, By Model Type (2018-2026) ($MN)
69 Middle East & Africa Multi-Factor Authentication Market Outlook, By Component (2018-2026) ($MN)
70 Middle East & Africa Multi-Factor Authentication Market Outlook, By Organization size (2018-2026) ($MN)
71 Middle East & Africa Multi-Factor Authentication Market Outlook, By Application (2018-2026) ($MN)
72 Middle East & Africa Multi-Factor Authentication Market Outlook, By End User (2018-2026) ($MN)