Maharashtra, India -- (SBWIRE) -- 03/29/2019 -- Multi-Factor Authentication MFA Market
The global Multi-Factor Authentication (MFA) market is valued at 6230 million USD in 2018 and is expected to reach 16800 million USD by the end of 2024, growing at a CAGR of 18.0% between 2019 and 2024.
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The scope of the Report:
The report studies the Multi-factor Authentication (MFA) market. Multifactor authentication (MFA) is a security system that requires more than one method of authentication from independent categories of credentials to verify the user's identity for a login or other transaction.
Manufacturer, Distributor, Downstream Client Companies Data Analysis:
Morpho (France), Gemalto (Netherlands), NEC (Japan), Entrust Inc. (US), CA Technologies (US), Fujitsu (Japan), VASCO Data Security (US), HID Global (US), RSA Security (US), Symantec Corporation (US), SecurEnvoy ltd (England), Crossmatch (US), Duo Secuirty (US), Deepnet Security (England), CensorNet Ltd. (England)
Market Segment by Type, covers
Two-Factor Authentication
Three-Factor Authentication
Other (Four-Factor Authentication and Five-Factor Authentication)
Market Segment by Applications, can be divided into
Banking and Finance
Government
Travel and Immigration
Military and Defense
Commercial Security
Consumer Electronics
Healthcare
Other
Multi-Factor Authentication MFA Market report also splits the market by region:
North America (United States, Canada, Mexico)
South America ( Brazil, Argentina, Ecuador, Chile)
Asia Pacific (China, Japan, India, Korea)
Europe (Germany, UK, France, Italy)
Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) And More.
Banking, financial services and insurance (BFSI) segment contributed a largest market share during the forecast period owing to growing need for secure identification and verification techniques. By geography, North America commanded the largest market share due to plenty IT infrastructures and more financial institutions & companies in this region.
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Multi-factor authentication (MFA) comes with different models such as two-factor authentication, three-factor authentication, four-factor authentication, and five-factor authentication. The two-factor authentication includes smart card with pin, smart card with biometric technology, biometric technology with pin, two biometric authentications, and one time password with pin.
The three authentications include smart card with pin and biometric technology, smart card with two biometric technologies, pin with two biometric technologies, and three biometric authentications. On the other hand, four- and five-factor authentication includes the use of smart card and pin with more than one biometric technology such as face recognition, fingerprint recognition, voice recognition, and so on. MFA model using two factors is gaining popularityin the market; occupying almost 90.88% of its share as of 2017, followed by three-, four-, and five-factor authentication respectively.
MFA is popular due to the high degree of security and is much better than a single username and password combination. Different models of MFA have found various applications in verticals: BFSI, government, immigration & travel, commercial security, electronics and healthcare.
Research objectives:
Focuses on the key global Multi-Factor Authentication MFA manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
To analyze the Multi-Factor Authentication MFA with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
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Key Points sheathed in the Multi-Factor Authentication MFA Market Report Coverage:
– Market share assessments for the regional and country level segments
– Market share analysis of the top industry players
– Strategic recommendations for the new entrants
– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
– Strategic recommendations in key business segments based on the market estimations
– Competitive landscaping mapping the key common trends
– Company profiling with detailed strategies, financial and recent developments
– Supply chain trends mapping the latest technological advancements
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