The Worldwide Multifactor Authentication Industry is Expected to Reach $26.8 Billion by 2027


Dublin, Sept. 15, 2022 (GLOBE NEWSWIRE) -- The "Global Multifactor Authentication Market (2022-2027) by Authentication Type, Model Type, Components, Organization size, End-user, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to's offering.

The Global Multifactor Authentication Market is estimated to be USD 13.4 Bn in 2022 and is expected to reach USD 26.84 Bn by 2027, growing at a CAGR of 14.90%

Market Dynamics

Market dynamics are forces that impact the prices and behaviors of the Global Multifactor Authentication Market stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors.

There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals. As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding the growth and reducing the risks.

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Broadcom, Cisco, CyberArk, Duo Security, ESET, ForgeRock, FusionAuth, etc.

Countries Studied

  • America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
  • Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
  • Middle-East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
  • Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

The report presents a detailed Ansoff matrix analysis for the Global Multifactor Authentication Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification.

The matrix is also used for risk analysis to understand the risk involved with each approach. The analyst analyses the Global Multifactor Authentication Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position. Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth.

Why buy this report?

  • The report offers a comprehensive evaluation of the Global Multifactor Authentication Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
  • The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
  • The report includes an in-depth market analysis using Porter's 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
  • The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
  • The report also contains the competitive analysis using Positioning Quadrants, the analyst's Proprietary competitive positioning tool.

Key Topics Covered:

1 Report Description

2 Research Methodology

3 Executive Summary

4 Market Dynamics
4.1 Drivers
4.1.1 Growing Adoptions of BYOD, CYOD, and WFH Trends
4.1.2 Rising Security Breaches and Sophisticated Cyberattacks Leading to Financial and Reputational Losses
4.1.3 Stringent Government Regulations to Increase the Adoption of MFA Solutions
4.1.4 Escalating Instances of Identity Theft and Fraud
4.2 Restraints
4.2.1 High Cost and Technical Complexities in Implementing MFA Solutions
4.2.2 Increasing Response Time in Higher Order Authentication Models
4.3 Opportunities
4.3.1 Proliferation of Cloud-Based MFA Solutions and Services
4.3.2 Rising Adoption of Interconnected Devices in the IoT Environment
4.3.3 High Volume of Online Transactions
4.4 Challenges
4.4.1 Lack of Awareness Related to MFA Among Enterprises
4.4.2 Scarcity of Skilled Cybersecurity Professionals

5 Market Analysis
5.1 Regulatory Scenario
5.2 Porter's Five Forces Analysis
5.3 Impact of COVID-19
5.4 Ansoff Matrix Analysis

6 Global Multifactor Authentication Market, By Authentication Type
6.1 Introduction
6.2 Password Authentication
6.3 password ess Authentication

7 Global Multifactor Authentication Market, By Model Type
7.1 Introduction
7.2 Two-Factor Authentication
7.2.1 Smart Card with Pin
7.2.2 Smart Card with Biometric Technology
7.2.3 Biometric Technology with Pin
7.2.4 Two-Factor Biometric Technology
7.2.5 One Time Password with Pin
7.3 Multi-Factor with Three-Factor Authentication
7.3.1 Smart Card with Pin and B

8 Global Multifactor Authentication Market, By Components
8.1 Introduction
8.2 Solutions
8.3 Hardware
8.4 Services

9 Global Multifactor Authentication Market, By Organization size
9.1 Introduction
9.2 Large Enterprises
9.3 SMEs

10 Global Multifactor Authentication Market, By End-user
10.1 Introduction
10.2 BFSI
10.3 Government
10.4 Travel and Immigration
10.5 Military and Defense
10.6 Commercial Security
10.7 IT
10.8 Telecommunication
10.9 Healthcare
10.10 Media and Entertainment
10.11 Other verticals (education, retail and eCommerce)

11 Americas' Multifactor Authentication Market
11.1 Introduction
11.2 Argentina
11.3 Brazil
11.4 Canada
11.5 Chile
11.6 Colombia
11.7 Mexico
11.8 Peru
11.9 United States
11.10 Rest of Americas

12 Europe's Multifactor Authentication Market
12.1 Introduction
12.2 Austria
12.3 Belgium
12.4 Denmark
12.5 Finland
12.6 France
12.7 Germany
12.8 Italy
12.9 Netherlands
12.10 Norway
12.11 Poland
12.12 Russia
12.13 Spain
12.14 Sweden
12.15 Switzerland
12.16 United Kingdom
12.17 Rest of Europe

13 Middle East and Africa's Multifactor Authentication Market
13.1 Introduction
13.2 Egypt
13.3 Israel
13.4 Qatar
13.5 Saudi Arabia
13.6 South Africa
13.7 United Arab Emirates
13.8 Rest of MEA

14 APAC's Multifactor Authentication Market
14.1 Introduction
14.2 Australia
14.3 Bangladesh
14.4 China
14.5 India
14.6 Indonesia
14.7 Japan
14.8 Malaysia
14.9 Philippines
14.10 Singapore
14.11 South Korea
14.12 Sri Lanka
14.13 Thailand
14.14 Taiwan
14.15 Rest of Asia-Pacific

15 Competitive Landscape
15.1 Competitive Quadrant
15.2 Market Share Analysis
15.3 Strategic Initiatives
15.3.1 M&A and Investments
15.3.2 Partnerships and Collaborations
15.3.3 Product Developments and Improvements

16 Company Profiles
16.1 Broadcom
16.2 Cisco
16.3 CyberArk
16.4 Duo Security
16.5 ESET
16.6 ForgeRock
16.7 FusionAuth
16.8 HID Global
16.9 HYPR
16.10 Keyless
16.11 Luxchain
16.12 Micro Focus
16.13 Microsoft
16.14 Okta
16.15 OneLogin
16.16 OneSpan
16.17 Oracle
16.18 Ping Identity
16.19 RSA Security
16.20 Salesforce
16.21 Secret Double Octopus
16.22 SecureAuth
16.23 Silverfort
16.24 Thales
16.25 Trusona

17 Appendix

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