Albany, NY -- (SBWIRE) -- 01/19/2019 -- Transparency Market Research (TMR) observers the global multi-factor authentication market has a highly fragmented vendor landscape. The presence of numerous companies in the market is expected to further fragment the market. Some of the companies operating in the multifactor authentication market are Gemalto, EMC, Entrust, and Vasco. These players are increasingly taking part in business activities such as collaborations and mergers & acquisitions. Additionally, they are focusing on product innovation and improvement.

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According to the report from TMR, the global multifactor authentication market pegged the value of US$4,829.2 mn in 2016 and is expected to attain a value of US$20,444.9 mn by the end of 2025. The market is anticipated to expand with a CAGR of 17.7% over the forecast period from 2017 to 2025.

Based on models, the two-factor authentication model segment is expected to dominate the global multifactor authentication market. On the basis of region, North America is expected to dominate the global market for multifactor authentication owing to the high acceptance of multifactor authentication systems due to rising security concerns.

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