0

Multi-factor Authentication Market by Component, Deployment and Geography - Forecast and Analysis 2023-2027

  • Published: Oct 2022
  • Pages: 167
  • SKU: IRTNTR70526
Technavio

Enjoy complimentary customisation on priority with our Enterprise License!

Safe and Secure SSL Encrypted

info
close
  • Single:

    One user only.
    Quick & easy download option

  • Enterprise:

    Unlimited user access (Within your organization)
    Complimentary Customization Included

2500 USD

The multi-factor authentication market?is estimated to grow at a CAGR of 21.41% between 2022 and 2027. The size of the market is forecast to increase by USD 20806.45 million.?The growth of the market depends on several factors, including the increase in the volume of online transactions, the high-level security provided by hardware OTP tokens, and the adherence to compliance mandates. 

This report extensively covers market?segmentation?by?component (services and products), deployment (on-premises and cloud),?and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021. 

What will the Size of the Multi-factor Authentication Market be During the Forecast Period?

Multi-factor Authentication Market Size

Download Report Sample to Unlock the Multi-factor Authentication Market Size for the Forecast Period and Other Important Statistics

Parent Market Analysis 

Technavio categorizes the global multi-factor authentication market as a part of the global IT consulting and other services market within the global IT services market. The super parent global IT services market cover companies offering IT consulting and system integration services, application services, electronic data processing services, business process outsourcing services, infrastructure services, and Internet services. ?Our research report has extensively covered external factors influencing the parent market growth during the forecast period. 

Multi-factor Authentication Market: Key Drivers, Trends, Challenges, and Customer Landscape

The innovative features and user interfaces are notably driving the multi-factor authentication market growth, although factors such as the increase in the cost of OTP tokens may impede the market growth. Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a decrease in demand for the market during the COVID-19 pandemic, a holistic analysis of drivers will help companies refine marketing strategies to gain a competitive advantage.   

Key Multi-factor Authentication Market Driver

The innovative features and user interfaces are notably driving the multi-factor authentication market growth. Consumers depend on the Internet to perform transactions. Online transactions are instant and easy. However, financial transactions are vulnerable to cyberattacks. The frequency of cyberattacks is increasing on websites where a large number of online transactions take place. Hackers aim at sectors having a huge online customer base. Many organizations have started employing authentication methods, such as phone-based authentication, software OTP tokens, hardware OTP tokens, and e-mail, to make online transactions more secure. There has been a significant increase in the number of online services provided by companies, leading to a surge in online transactions. E-commerce sales in the US grew by 32.4% in 2020 in comparison to 2019. E-commerce still represents a small portion of retail purchases in the US. Therefore, ample opportunities exist in the US e-commerce market. Mobile operators are providing high-speed mobile broadband services that have enabled users to use bandwidth-intensive business applications. High-speed Internet services are necessary to avail of cloud-computing services, which are in high demand among enterprises. The availability of 3G and 4G networks will further boost online transactions, leading to the increased adoption of multi-factor authentication solutions and services during the forecast period.

Key Multi-factor Authentication Market Trend

The emergence of cloud-based multi-factor authentication is the primary trend driving the multi-factor authentication market growth. The rise in maintenance costs for hardware and software-based two-factor and three-factor authentication models has attracted the interest of many companies in adopting cloud-based multi-factor authentication solutions and services.  The adoption of the cloud is rapidly increasing among industries, giving rise to many security challenges for cloud service providers and other ecosystem vendors, especially in dealing with complex regulations for privacy and data protection. To guarantee the security and safety of data on the cloud, cloud service providers are adopting technologies such as tokenization, biometric authentication, and others by implementing various models of multi-factor authentication, which can provide authentication for the safety of data stored on the cloud. The demand for multi-factor authentication for securing the data and information in the cloud environment is likely to provide huge opportunities to multi-factor authentication solution providers and cloud service providers, which will drive the growth of the global multi-factor authentication market during the forecast period.

Key Multi-factor Authentication Market Challenge

The increase in the cost of OTP tokens may impede the multi-factor authentication market growth. High initial deployment and replacement costs have increased the total cost of OTP tokens. The total cost of OTP tokens includes the initial pricing and licensing fees, infrastructure and hardware requirements, token warranty, and efforts and resources required for deploying and managing the solution. This is because regions such as South America and Eastern Europe have limited vendor penetration. Vendors that operate in these regions are players based in US and Europe, such as Entrust, RSA Security, and VASCO. A small number of vendors controls the market, and the lack of stiff competition is resulting in high initial deployment and replacement costs. Thus, the increasing cost of  OTP tokens will hamper the growth of the market in focus during the forecast period.

Key Multi-factor Authentication Market Customer Landscape

Our analysis of the Life Cycle of the Global multi-factor authentication market from the innovator’s stage to the laggard’s stage. The report illustrates the lifecycle of the global multi-factor authentication market, focusing on the adoption rates of the major regions such as the US, China, Japan, Germany, and the UK. Our researchers have included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop growth strategies for 2022-2027.

Multi-factor Authentication Market Share by Geography

Global Multi-factor Authentication Market Customer Landscape

Who are the Major Multi-factor Authentication Market Vendors?                                    

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market 

Thales Group - The company has multiple business units under its Aerospace segment. The segment combines the Avionics and Space global business units of the company. The key offerings of the company include multi-factor authentication, namely SafeNet Trusted Access. 

We also have detailed analyses of the market’s competitive landscape and offer information on 20 market vendors, such as

  • Beyond Identity Inc.
  • Broadcom Inc.
  • Duo Security Inc.
  • Entrust Corp.
  • FEITIAN Technologies Co. Ltd.
  • ForgeRock Inc.
  • Frontegg
  • Fujitsu Ltd.
  • FusionAuth
  • HID Global Corp.
  • Microsoft Corp.
  • NEC Corp.
  • Okta Inc.
  • OneSpan Inc.
  • Quest Software Inc.
  • RSA Security LLC
  • SecureAuth Corp.
  • TransUnion
  • Yubico AB

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. 

What is the Fastest-Growing Segment in the Multi-factor Authentication Market?

The market share growth by the services segment will be significant during the forecast period. Multi-factor authentication solutions and services are gaining prominence in organizations to prevent people from gaining unauthorized access to critical data and tampering with critical information. People are granted access after their identity is confirmed with the information stored in the database. The major factors expected to drive the multi-factor authentication market are the increased number of data breaches and cyber-attacks and the growing adoption of BYOD among enterprises. 

Multi-factor Authentication Market Size

Get the full insights on the market contribution of various segments Request a PDF Sample

The services segment showed a gradual increase in market share, from USD 3425.03 million in 2017, and continued to grow by 2021. Increasing online transactions and e-commerce and the digitalization of financial and welfare services are the key drivers for the high adoption rate of multi-factor authentication solutions and services during the forecast period. Our report provides a brief analysis of historical and forecast market share and their segment along with their reasons for growth from 2017 to 2027.

The growth of this segment is primarily attributed to the increasing adoption of the multi-factor authentication market by residential consumers, which is driven by changing lifestyles and a growing preference for comfort.

Which are the Key Regions for Multi-factor Authentication Market?

Multi-factor Authentication Market Share by Geography

For more insights on the market share of various regions Request PDF Sample now!

North America is projected to contribute 35% by 2027. Our analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

North America is more technologically developed than other regions, and therefore, the adoption of multi-factor authentication is high in the region. The increase in regulatory requirements for large banks and Payment Card Industry (PCI) companies is the major factor driving the adoption of multi-factor authentication in the region. In addition, advances in authentication solutions, such as phone-based authentication and SMS tokens and OPT tokens integrated with biometric authentication, have boosted the multi-factor authentication market growth in the US. There are also stringent government regulations in the region that compel enterprises to incorporate multi-factor authentication into their credential authentication paradigm. Government spending on multi-factor authentication is on the rise, driven by the need to safeguard confidential data from external threats. The US government is one of the key adopters of advanced authentication solutions. Such factors drive the regional multi-factor authentication market expansion during the forecast period.

This report forecasts the contribution of all the segments to the growth of the market. In 2020, the COVID-19 pandemic positively impacted the growth of the multi-factor authentication market in North America. As a result of the pandemic, several governments, including the US, Canada, and Mexico, imposed lockdowns in 2020, forcing people to stay at home to contain the spread of the disease. Therefore, the pandemic increased the demand for the digitalization of processes and created new opportunities for cloud services in end-user industries, such as banking, financial services and insurance (BFSI), healthcare, and retail. The pandemic enhanced the adoption of remote workflow processes in North American countries, which further led to ample opportunities for the growth of the multi-factor authentication market in North America in 2020. Such factors are expected to lead to the growth of the multi-factor authentication market in North America during the forecast period.

Segment Overview

Our report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2028. We have segmented the market based on deployment, component, and region.

  • Deployment Outlook (USD Million, 2017 - 2027)
    • On-premises
    • Cloud
  • Component Outlook (USD Million, 2017 - 2027)
    • Services 
    • Product
  • Region Outlook (USD Million, 2017 - 2027)
    • North America
      • The U.S.
      • Canada
    • South America
      • Chile
      • Argentina
      • Brazil
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • South America
      • Brazil
      • Colombia
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

    Multi-factor Authentication Market Scope

    Report Coverage

    Details

    Page number

    120

    Base year

    2022

    Historical year

    2017-2021

    Forecast period

    2023-2027

    Growth momentum & CAGR

    Accelerate at a CAGR of 21.41%

    Market growth 2023-2027

    USD 20806.45 million

    Market structure

    Fragmented

    YoY growth (%)

    20.37

    Regional analysis

    North America, Europe, APAC, South America, and the Middle East and Africa

    Performing market contribution

    North America at 35%

    Key consumer countries

    US, China, Japan, Germany, and UK

    Competitive landscape

    Leading companies, Competitive Strategies, Consumer engagement scope

    Key companies profiled

    Beyond Identity Inc., Broadcom Inc., Duo Security Inc., Entrust Corp., FEITIAN Technologies Co. Ltd., ForgeRock Inc., Frontegg, Fujitsu Ltd., FusionAuth, HID Global Corp., Microsoft Corp., NEC Corp., Okta Inc., OneSpan Inc., Quest Software Inc., RSA Security LLC, SecureAuth Corp., Thales, TransUnion, and Yubico AB

    Market Dynamics

    Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.

    Customization purview

    If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

    Request PDF sample

    What are the Key Data Covered in this Multi-factor Authentication Market Report?

    • CAGR of the market during the forecast period 2023-2027
    • Detailed information on factors that will drive multi-factor authentication market growth during the next five years
    • Precise estimation of the multi-factor authentication market size and its contribution to the parent market
    • Accurate predictions on upcoming trends and changes in consumer behavior
    • The growth of the multi-factor authentication industry across North America, Europe, APAC, South America, and the Middle East and Africa
    • A thorough analysis of the market’s competitive landscape and detailed information on vendors
    • Comprehensive details of factors that will challenge the growth of multi-factor authentication market vendors

    We can help! Our analysts can customize this report to meet your requirements. Get in touch

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Component
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Deployment
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global multi-factor authentication market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global multi-factor authentication market 2017 - 2021 ($ million)
    • 4.2 Component Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Component Segment 2017 - 2021 ($ million)
    • 4.3 Deployment Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Deployment Segment 2017 - 2021 ($ million)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

    5 Historic Market Size

    • 5.1 Global multi-factor authentication market 2023 - 2027
      • Exhibit 23: Historic Market Size (value) – Data Table on Global multi-factor authentication market 2023 - 2027 ($ million)
      • Exhibit 24: Historic Market Size (volume) – Data Table on Global multi-factor authentication market 2023 - 2027 ($ million)
    • 5.2 Global multi-factor authentication market by Segment – Historic Analysis 2023 - 2027
      • Exhibit 25: Historic Market Size (value) - Data Table on Global multi-factor authentication market Segment 2023 - 2027 ($ million)
    • 5.3 Global multi-factor authentication market by Segment – Historic Analysis 2023 - 2027
      • Exhibit 26: Historic Market Size (value) - Data Table on Global multi-factor authentication market Segment 2023 - 2027 ($ million)
    • 5.4 Global multi-factor authentication market by Segment – Historic Analysis 2023 - 2027
      • Exhibit 27: Historic Market Size (value) - Data Table on Global multi-factor authentication market Segment 2023 - 2027 ($ million)
    • 5.5 Global multi-factor authentication market by Segment – Historic Analysis 2023 - 2027
      • Exhibit 28: Historic Market Size (value) - Data Table on Global multi-factor authentication market Segment 2023 - 2027 ($ million)
    • 5.6 Global multi-factor authentication market by Segment – Historic Analysis 2023 - 2027
      • Exhibit 29: Historic Market Size (value) - Data Table on Global multi-factor authentication market Segment 2023 - 2027 ($ million)

    6 Five Forces Analysis

    • 6.1 Five forces summary
      • Exhibit 30: Five forces analysis - Comparison between2022 and 2027
    • 6.2 Bargaining power of buyers
      • Exhibit 31: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 6.3 Bargaining power of suppliers
      • Exhibit 32: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 6.4 Threat of new entrants
      • Exhibit 33: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 6.5 Threat of substitutes
      • Exhibit 34: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 6.6 Threat of rivalry
      • Exhibit 35: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 6.7 Market condition
      • Exhibit 36: Chart on Market condition - Five forces 2022 and 2027

    7 Market Segmentation by Component

    • 7.1 Market segments
      • Exhibit 37: Chart on Component - Market share 2022-2027 (%)
      • Exhibit 38: Data Table on Component - Market share 2022-2027 (%)
    • 7.2 Comparison by Component
      • Exhibit 39: Chart on Comparison by Component
      • Exhibit 40: Data Table on Comparison by Component
    • 7.3 Services - Market size and forecast 2022-2027
      • Exhibit 41: Chart on Services - Market size and forecast 2022-2027 ($ million)
      • Exhibit 42: Data Table on Services - Market size and forecast 2022-2027 ($ million)
      • Exhibit 43: Chart on Services - Year-over-year growth 2022-2027 (%)
      • Exhibit 44: Data Table on Services - Year-over-year growth 2022-2027 (%)
    • 7.4 Products - Market size and forecast 2022-2027
      • Exhibit 45: Chart on Products - Market size and forecast 2022-2027 ($ million)
      • Exhibit 46: Data Table on Products - Market size and forecast 2022-2027 ($ million)
      • Exhibit 47: Chart on Products - Year-over-year growth 2022-2027 (%)
      • Exhibit 48: Data Table on Products - Year-over-year growth 2022-2027 (%)
    • 7.5 Market opportunity by Component
      • Exhibit 49: Market opportunity by Component ($ million)

    8 Market Segmentation by Deployment

    • 8.1 Market segments
      • Exhibit 50: Chart on Deployment - Market share 2022-2027 (%)
      • Exhibit 51: Data Table on Deployment - Market share 2022-2027 (%)
    • 8.2 Comparison by Deployment
      • Exhibit 52: Chart on Comparison by Deployment
      • Exhibit 53: Data Table on Comparison by Deployment
    • 8.3 On-premises - Market size and forecast 2022-2027
      • Exhibit 54: Chart on On-premises - Market size and forecast 2022-2027 ($ million)
      • Exhibit 55: Data Table on On-premises - Market size and forecast 2022-2027 ($ million)
      • Exhibit 56: Chart on On-premises - Year-over-year growth 2022-2027 (%)
      • Exhibit 57: Data Table on On-premises - Year-over-year growth 2022-2027 (%)
    • 8.4 Cloud - Market size and forecast 2022-2027
      • Exhibit 58: Chart on Cloud - Market size and forecast 2022-2027 ($ million)
      • Exhibit 59: Data Table on Cloud - Market size and forecast 2022-2027 ($ million)
      • Exhibit 60: Chart on Cloud - Year-over-year growth 2022-2027 (%)
      • Exhibit 61: Data Table on Cloud - Year-over-year growth 2022-2027 (%)
    • 8.5 Market opportunity by Deployment
      • Exhibit 62: Market opportunity by Deployment ($ million)

    9 Customer Landscape

    • 9.1 Customer landscape overview
      • Exhibit 63: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    10 Geographic Landscape

    • 10.1 Geographic segmentation
      • Exhibit 64: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 65: Data Table on Market share by geography 2022-2027 (%)
    • 10.2 Geographic comparison
      • Exhibit 66: Chart on Geographic comparison
      • Exhibit 67: Data Table on Geographic comparison
    • 10.3 North America - Market size and forecast 2022-2027
      • Exhibit 68: Chart on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 69: Data Table on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 70: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 71: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 10.4 Europe - Market size and forecast 2022-2027
      • Exhibit 72: Chart on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 73: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 74: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 75: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 10.5 APAC - Market size and forecast 2022-2027
      • Exhibit 76: Chart on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 77: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 78: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 79: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 10.6 South America - Market size and forecast 2022-2027
      • Exhibit 80: Chart on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 81: Data Table on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 82: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 83: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 10.7 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 84: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 85: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 86: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 87: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 10.8 US - Market size and forecast 2022-2027
      • Exhibit 88: Chart on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 89: Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 90: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 91: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 10.9 China - Market size and forecast 2022-2027
      • Exhibit 92: Chart on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 93: Data Table on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 94: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 95: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 10.10 Germany - Market size and forecast 2022-2027
      • Exhibit 96: Chart on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 97: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 98: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 99: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 10.11 UK - Market size and forecast 2022-2027
      • Exhibit 100: Chart on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 101: Data Table on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 102: Chart on UK - Year-over-year growth 2022-2027 (%)
      • Exhibit 103: Data Table on UK - Year-over-year growth 2022-2027 (%)
    • 10.12 Japan - Market size and forecast 2022-2027
      • Exhibit 104: Chart on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 105: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 106: Chart on Japan - Year-over-year growth 2022-2027 (%)
      • Exhibit 107: Data Table on Japan - Year-over-year growth 2022-2027 (%)
    • 10.13 Market opportunity by geography
      • Exhibit 108: Market opportunity by geography ($ million)

    11 Drivers, Challenges, and Trends

    • 11.1 Market drivers
      • 11.2 Market challenges
        • 11.3 Impact of drivers and challenges
          • Exhibit 109: Impact of drivers and challenges in 2022 and 2027
        • 11.4 Market trends

          12 Vendor Landscape

          • 12.1 Overview
            • 12.2 Vendor landscape
              • Exhibit 110: Overview on Criticality of inputs and Factors of differentiation
            • 12.3 Landscape disruption
              • Exhibit 111: Overview on factors of disruption
            • 12.4 Industry risks
              • Exhibit 112: Impact of key risks on business

            13 Vendor Analysis

            • 13.1 Vendors covered
              • Exhibit 113: Vendors covered
            • 13.2 Market positioning of vendors
              • Exhibit 114: Matrix on vendor position and classification
            • 13.3 Broadcom Inc.
              • Exhibit 115: Broadcom Inc. - Overview
              • Exhibit 116: Broadcom Inc. - Business segments
              • Exhibit 117: Broadcom Inc. - Key news
              • Exhibit 118: Broadcom Inc. - Key offerings
              • Exhibit 119: Broadcom Inc. - Segment focus
            • 13.4 Entrust Corp.
              • Exhibit 120: Entrust Corp. - Overview
              • Exhibit 121: Entrust Corp. - Product / Service
              • Exhibit 122: Entrust Corp. - Key news
              • Exhibit 123: Entrust Corp. - Key offerings
            • 13.5 ForgeRock Inc.
              • Exhibit 124: ForgeRock Inc. - Overview
              • Exhibit 125: ForgeRock Inc. - Product / Service
              • Exhibit 126: ForgeRock Inc. - Key news
              • Exhibit 127: ForgeRock Inc. - Key offerings
            • 13.6 Fujitsu Ltd.
              • Exhibit 128: Fujitsu Ltd. - Overview
              • Exhibit 129: Fujitsu Ltd. - Business segments
              • Exhibit 130: Fujitsu Ltd. - Key offerings
              • Exhibit 131: Fujitsu Ltd. - Segment focus
            • 13.7 HID Global Corp.
              • Exhibit 132: HID Global Corp. - Overview
              • Exhibit 133: HID Global Corp. - Product / Service
              • Exhibit 134: HID Global Corp. - Key offerings
            • 13.8 Microsoft Corp.
              • Exhibit 135: Microsoft Corp. - Overview
              • Exhibit 136: Microsoft Corp. - Business segments
              • Exhibit 137: Microsoft Corp. - Key news
              • Exhibit 138: Microsoft Corp. - Key offerings
              • Exhibit 139: Microsoft Corp. - Segment focus
            • 13.9 NEC Corp.
              • Exhibit 140: NEC Corp. - Overview
              • Exhibit 141: NEC Corp. - Business segments
              • Exhibit 142: NEC Corp. - Key news
              • Exhibit 143: NEC Corp. - Key offerings
              • Exhibit 144: NEC Corp. - Segment focus
            • 13.10 Okta Inc.
              • Exhibit 145: Okta Inc. - Overview
              • Exhibit 146: Okta Inc. - Product / Service
              • Exhibit 147: Okta Inc. - Key offerings
            • 13.11 OneSpan Inc.
              • Exhibit 148: OneSpan Inc. - Overview
              • Exhibit 149: OneSpan Inc. - Product / Service
              • Exhibit 150: OneSpan Inc. - Key offerings
            • 13.12 Quest Software Inc.
              • Exhibit 151: Quest Software Inc. - Overview
              • Exhibit 152: Quest Software Inc. - Product / Service
              • Exhibit 153: Quest Software Inc. - Key offerings
            • 13.13 RSA Security LLC
              • Exhibit 154: RSA Security LLC - Overview
              • Exhibit 155: RSA Security LLC - Product / Service
              • Exhibit 156: RSA Security LLC - Key offerings
            • 13.14 SecureAuth Corp.
              • Exhibit 157: SecureAuth Corp. - Overview
              • Exhibit 158: SecureAuth Corp. - Product / Service
              • Exhibit 159: SecureAuth Corp. - Key offerings
            • 13.15 Thales
              • Exhibit 160: Thales - Overview
              • Exhibit 161: Thales - Business segments
              • Exhibit 162: Thales - Key offerings
              • Exhibit 163: Thales - Segment focus
            • 13.16 TransUnion
              • Exhibit 164: TransUnion - Overview
              • Exhibit 165: TransUnion - Business segments
              • Exhibit 166: TransUnion - Key offerings
              • Exhibit 167: TransUnion - Segment focus
            • 13.17 Yubico AB
              • Exhibit 168: Yubico AB - Overview
              • Exhibit 169: Yubico AB - Product / Service
              • Exhibit 170: Yubico AB - Key offerings

            14 Appendix

            • 14.1 Scope of the report
              • 14.2 Inclusions and exclusions checklist
                • Exhibit 171: Inclusions checklist
                • Exhibit 172: Exclusions checklist
              • 14.3 Currency conversion rates for US$
                • Exhibit 173: Currency conversion rates for US$
              • 14.4 Research methodology
                • Exhibit 174: Research methodology
                • Exhibit 175: Validation techniques employed for market sizing
                • Exhibit 176: Information sources
              • 14.5 List of abbreviations
                • Exhibit 177: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
              Interested in this report?
              Get your sample now!
              Multi-factor Authentication market growth will increase by $20806.45 million during 2023-2027.
              The multi-factor authentication market is expected to grow at a CAGR of 21.41% during 2023-2027.
              Technavio has segmented the multi-factor authentication market by component (Services and Products) ,deployment (On-premises, Cloud, APAC, South America, and MEA) , and geography (North America, Europe, APAC, South America, and Middle East and Africa).
              Beyond Identity Inc., Broadcom Inc., Duo Security Inc., Entrust Corp., FEITIAN Technologies Co. Ltd., ForgeRock Inc., Frontegg, Fujitsu Ltd., FusionAuth, HID Global Corp., Microsoft Corp., NEC Corp., Okta Inc., OneSpan Inc., Quest Software Inc., RSA Security LLC, SecureAuth Corp., Thales, TransUnion, Yubico AB are a few of the key vendors in the multi-factor authentication market.
              North America will register the highest growth rate of 34.53% among the other regions. Therefore, the multi-factor authentication market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the multi-factor authentication market growth are:
              • Increase in volume of online transactions
              • Introduction of Out-of-Band (OOB) authentication
              The multi-factor authentication market vendors should focus on grabbing business opportunities from the services segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
              • Off-the-shelf research reports
              • Reports can be tailored to meet the customer's needs
              • Trusted by more than 100 fortune 500 organizations
              • Information about the market's key drivers, trends, and challenges
              • Parent market analysis
              • Every week, 50,000 people visit our subscription platform
              • Detailed vendors report with competitive landscape
              • Covid-19 impact and recovery analysis
              • Data on revenue-generating market segments
              • Details on the market shares of various regions
              • Five-force market analysis

              Certified ISO 9001 : 2015

              We are ISO recognized

              We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.

              We are GDPR and CCPA compliant

              We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.

              Safe and Secure SSL Encrypted
              Technavio

              info
              close
              • Single:

                One user only.
                Quick & easy download option

              • Enterprise:

                Unlimited user access (Within your organization)
                Complimentary Customization Included

              2500 USD

              Technavio Get the report (PDF) sent to your email within minutes.

              Subscribe & Save

              Get lifetime access to our
              Technavio Insights

              Customized Report as per your Business Needs

              • Our analysts will work directly with you and understand your needs
              • Get data on specified regions or segments, competitor and Vendors
              • Data will be formatted and presented as per your requirements
              • We offer $1000 worth of FREE customization at the time of purchase

              Let us help you make report more suited to your requirements.

              • Get a competitive breakdown as per your niche industry
              • Customize the data with various metrics that meet your business prerequisite
              • Understand Revenue Sources, Customers and many more
              • Details on Market Share
              • These customizations are done in a short amount of time by our analysts and industry experts
              Technavio
              Enquire Before Buying
              17,000 reports available | Plans starting from just 5,000 USD | Get FREE trial>>