The global Multi-factor Authentication market size is projected to reach US$ 32110 million by 2026, from US$ 10970 million in 2020, at a CAGR of 19.6% during 2021-2026. Increased security breaches, fraud, and data identity theft, increased use of BYOD/IoT devices is expected to drive the Multi-factor Authentication Market
This report focuses on Multi-factor Authentication volume and value at the global level, regional level and company level. From a global perspective, this report represents overall Multi-factor Authentication market size by analysing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, Japan, China, Southeast Asia, India, etc.
The increasing volume of online transactions with high adoption of digital banking by customers is expected to propel the growth of the Multi-factor Authentication Market. Due to the surge in eCommerce and the use of internet banking, large organizations are being urged to verify customers using strong authentication procedures by the central banks. MFA is used to protect clients from phishing attempts and fraudulent transactions during transactions. Furthermore, the integration of these systems for payment by healthcare, retail, and BFSI sectors represents a significant potential opportunity for the Multi-factor Authentication Market.
Because it deals with enormous amounts of sensitive and private financial data, BFSI is the most targeted industry vertical. The demand for MFA solutions is growing in tandem with the growing cyber threat scenario and risk surface. MFA uses a multi-layered technique to add a layer of protection and make it difficult for an unauthorized individual to get access.
Businesses in this region are rapidly embracing multi-factor authentication (MFA) solutions to enable data protection, prevent cyber-attacks, identity theft, and commercial espionage, and assure data security and privacy for business continuity.
The research report includes a detailed study of regions of North America, Europe, China and Japan. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue, sales, and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2015 to 2026. These analyses will help the reader to understand the potential worth of investment in a particular region.
This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, the global price of manufacturers, and sales by manufacturers during the forecast period of 2015 to 2019.
The Key manufacturers that are operating in the global Multi-factor Authentication market are:
Ans. Based on region, North America is estimated to hold the largest market share during the forecast period.
Ans. Rising demand for cloud-based Multi-factor Authentication solutions and services, increasing number of online transactions, and are all major driving drivers for the Multi-factor Authentication Market.
Ans. The Key manufacturers that are operating in the global Multi-factor Authentication market are Dell, SecureAuth, Broadcom, Okta, Symantec, Ping Identity, VASCO, Cross Match Technologies, Fujitsu
Ans. Based on application, Banking & Financial Services are expected to be the most lucrative segment during the forecast period.
Ans. The forecast period for Multi-Factor Authentication Market is 2021 to 2027.
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