by The multi-factor authentication market size is poised to grow by USD 74.73 billion by 2033 from USD 14.34 billion in 2023, exhibiting a CAGR of 18% during the forecast period 2024 to 2033.
Key Takeaways
- Asia-Pacific contributed more than 40% of market share in 2023.
- North America is estimated to expand at the fastest CAGR between 2024 and 2033.
- By authentication type, the password authentication segment held the largest market share of 57% in 2023.
- By authentication type, the password-less authentication segment is anticipated to grow at a remarkable CAGR of 19.16% between 2024 and 2033.
- By model type, the multi-factor with three-factor authentication segment generated over 29% of the market share in 2023.
- By model type, the multi-factor with four-factor authentication segment is expected to expand at the fastest CAGR over the projected period.
- By component, the hardware segment generated over 45% of the market share in 2023.
- By component, the services segment is expected to expand at the fastest CAGR over the projected period.
- By end user, the commercial security segment generated over 26% of the market share in 2023.
- By end user, the telecommunication segment is expected to expand at the fastest CAGR over the projected period.
Precedence Research has conducted a comprehensive market study that provides valuable insights into the performance of the market during the forecast period. The study identifies significant trends that are shaping the growth of the Multi-factor authentication market. In this recently published report, essential dynamics such as drivers, restraints, and opportunities are highlighted for both established market players and emerging participants involved in production and supply.
To begin with, the Multi-factor authentication Market report features an executive summary that offers a concise overview of the marketplace. It outlines the key players and industry categories expected to have an impact on the market in the coming years. The executive summary provides an unbiased summary of the market.
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Multi-factor Authentication Market Scope
| Report Coverage | Details |
| Growth Rate from 2024 to 2033 | CAGR of 18% |
| Global Market Size in 2023 | USD 14.34 Billion |
| Global Market Size by 2033 | USD 74.73 Billion |
| Asia-Pacific Market Size in 2023 | USD 5.74 Billion |
| Asia-Pacific Market Size by 2033 | USD 30.40 Billion |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | By Authentication Type, By Model Type, By Component, and By End User |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
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The empirical study on the global Multi-factor authentication market primarily focuses on the drivers in subsequent sections. It demonstrates how changing demographics are projected to influence the supply and demand dynamics in the Multi-factor authentication Market. Our market report for the Multi-factor authentication market also delves into the significant rules and regulations that are likely to impact the future growth of this sector. Moreover, in order to comprehend the underlying demand factors, industry experts have provided insights into its fundamental origins.
Multi-factor Authentication Market Companies
- RSA Security
- Symantec Corporation
- Gemalto (Thales Group)
- Duo Security (Cisco)
- Okta, Inc.
- HID Global
- OneLogin, Inc.
- Ping Identity
- IBM Corporation
- Microsoft Corporation
- Entrust Datacard Corporation
- Authy Inc.
- NEC Corporation
- CyberArk Software Ltd.
- SecureAuth Corporation
Data Sources and Methodology
To gather comprehensive insights on the Global Multi-factor authentication Market, we relied on a range of data sources and followed a well-defined methodology. Our approach involved interactions with industry experts and key stakeholders across the market’s value chain, including management organizations, processing organizations, and analytics service providers.
We followed a rigorous data analysis process to ensure the quality and credibility of our research. The gathered information was carefully evaluated, and relevant quantitative data was subjected to statistical analysis. By employing robust analytical techniques, we were able to derive meaningful insights and present a comprehensive overview of the Global Multi-factor authentication Market.
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- The research report has been meticulously crafted to provide comprehensive knowledge on essential marketing strategies and a holistic understanding of crucial marketing plans spanning the forecasted period from 2023 to 2032.
Key Features of the Report:
- Comprehensive Coverage: The report extensively encompasses a detailed explanation of highly effective analytical marketing methods applicable to companies across all industry sectors.
- Decision-Making Enhancement: It outlines a concise overview of the decision-making process while highlighting key techniques to enhance it, ensuring favorable business outcomes in the future.
- Articulated R&D Approach: The report presents a well-defined approach to conducting research and development (R&D) activities, enabling accurate data acquisition on current and future marketing conditions.
Market Segmentation:
By Authentication Type
- Password authentication
- Password less authentication
By Model Type
- Smart card with pin
- Multi-factor with three-factor authentication
- Multi-factor with four-factor authentication
- Multi-factor with five-factor authentication
By Component
- Solutions
- Hardware
- Services
By End User
- BFSI
- Government
- Travel and Immigration
- Military and Defense
- Commercial Security
- IT
- Telecommunication
- Healthcare
- Media and Entertainment
- Other
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
Reasons to Consider Purchasing the Report:
- Enhance your market research capabilities by accessing this comprehensive and precise report on the global Multi-factor authentication market.
- Gain a thorough understanding of the overall market landscape and be prepared to overcome challenges while ensuring robust growth.
- Benefit from in-depth research and analysis of the latest trends shaping the global Multi-factor authentication market.
- Obtain detailed insights into evolving market trends, current and future technologies, and strategic approaches employed by key players in the global Multi-factor authentication market.
- Receive valuable recommendations and guidance for both new entrants and established players seeking further market expansion.
- Discover not only the cutting-edge technological advancements in the global Multi-factor authentication market but also the strategic plans of industry leaders.
Table of Content
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology (Premium Insights)
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Multi-factor Authentication Market
5.1. COVID-19 Landscape: Multi-factor Authentication Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Multi-factor Authentication Market, By Authentication Type
8.1. Multi-factor Authentication Market, by Authentication Type, 2024-2033
8.1.1. Password authentication
8.1.1.1. Market Revenue and Forecast (2021-2033)
8.1.2. Password less authentication
8.1.2.1. Market Revenue and Forecast (2021-2033)
Chapter 9. Global Multi-factor Authentication Market, By Model Type
9.1. Multi-factor Authentication Market, by Model Type, 2024-2033
9.1.1. Smart card with pin
9.1.1.1. Market Revenue and Forecast (2021-2033)
9.1.2. Multi-factor with three-factor authentication
9.1.2.1. Market Revenue and Forecast (2021-2033)
9.1.3. Multi-factor with four-factor authentication
9.1.3.1. Market Revenue and Forecast (2021-2033)
9.1.4. Multi-factor with five-factor authentication
9.1.4.1. Market Revenue and Forecast (2021-2033)
Chapter 10. Global Multi-factor Authentication Market, By Component
10.1. Multi-factor Authentication Market, by Component, 2024-2033
10.1.1. Solutions
10.1.1.1. Market Revenue and Forecast (2021-2033)
10.1.2. Hardware
10.1.2.1. Market Revenue and Forecast (2021-2033)
10.1.3. Services
10.1.3.1. Market Revenue and Forecast (2021-2033)
Chapter 11. Global Multi-factor Authentication Market, By End User
11.1. Multi-factor Authentication Market, by End User, 2024-2033
11.1.1. BFSI
11.1.1.1. Market Revenue and Forecast (2021-2033)
11.1.2. Government
11.1.2.1. Market Revenue and Forecast (2021-2033)
11.1.3. Travel and Immigration
11.1.3.1. Market Revenue and Forecast (2021-2033)
11.1.4. Military and Defense
11.1.4.1. Market Revenue and Forecast (2021-2033)
11.1.5. Commercial Security
11.1.5.1. Market Revenue and Forecast (2021-2033)
11.1.6. IT
11.1.6.1. Market Revenue and Forecast (2021-2033)
11.1.7. Telecommunication
11.1.7.1. Market Revenue and Forecast (2021-2033)
11.1.8. Healthcare
11.1.8.1. Market Revenue and Forecast (2021-2033)
11.1.9. Media and Entertainment
11.1.9.1. Market Revenue and Forecast (2021-2033)
11.1.10. Other
11.1.10.1. Market Revenue and Forecast (2021-2033)
Chapter 12. Global Multi-factor Authentication Market, Regional Estimates and Trend Forecast
12.1. North America
12.1.1. Market Revenue and Forecast, by Authentication Type (2021-2033)
12.1.2. Market Revenue and Forecast, by Model Type (2021-2033)
12.1.3. Market Revenue and Forecast, by Component (2021-2033)
12.1.4. Market Revenue and Forecast, by End User (2021-2033)
12.1.5. U.S.
12.1.5.1. Market Revenue and Forecast, by Authentication Type (2021-2033)
12.1.5.2. Market Revenue and Forecast, by Model Type (2021-2033)
12.1.5.3. Market Revenue and Forecast, by Component (2021-2033)
12.1.5.4. Market Revenue and Forecast, by End User (2021-2033)
12.1.6. Rest of North America
12.1.6.1. Market Revenue and Forecast, by Authentication Type (2021-2033)
12.1.6.2. Market Revenue and Forecast, by Model Type (2021-2033)
12.1.6.3. Market Revenue and Forecast, by Component (2021-2033)
12.1.6.4. Market Revenue and Forecast, by End User (2021-2033)
12.2. Europe
12.2.1. Market Revenue and Forecast, by Authentication Type (2021-2033)
12.2.2. Market Revenue and Forecast, by Model Type (2021-2033)
12.2.3. Market Revenue and Forecast, by Component (2021-2033)
12.2.4. Market Revenue and Forecast, by End User (2021-2033)
12.2.5. UK
12.2.5.1. Market Revenue and Forecast, by Authentication Type (2021-2033)
12.2.5.2. Market Revenue and Forecast, by Model Type (2021-2033)
12.2.5.3. Market Revenue and Forecast, by Component (2021-2033)
12.2.5.4. Market Revenue and Forecast, by End User (2021-2033)
12.2.6. Germany
12.2.6.1. Market Revenue and Forecast, by Authentication Type (2021-2033)
12.2.6.2. Market Revenue and Forecast, by Model Type (2021-2033)
12.2.6.3. Market Revenue and Forecast, by Component (2021-2033)
12.2.6.4. Market Revenue and Forecast, by End User (2021-2033)
12.2.7. France
12.2.7.1. Market Revenue and Forecast, by Authentication Type (2021-2033)
12.2.7.2. Market Revenue and Forecast, by Model Type (2021-2033)
12.2.7.3. Market Revenue and Forecast, by Component (2021-2033)
12.2.7.4. Market Revenue and Forecast, by End User (2021-2033)
12.2.8. Rest of Europe
12.2.8.1. Market Revenue and Forecast, by Authentication Type (2021-2033)
12.2.8.2. Market Revenue and Forecast, by Model Type (2021-2033)
12.2.8.3. Market Revenue and Forecast, by Component (2021-2033)
12.2.8.4. Market Revenue and Forecast, by End User (2021-2033)
12.3. APAC
12.3.1. Market Revenue and Forecast, by Authentication Type (2021-2033)
12.3.2. Market Revenue and Forecast, by Model Type (2021-2033)
12.3.3. Market Revenue and Forecast, by Component (2021-2033)
12.3.4. Market Revenue and Forecast, by End User (2021-2033)
12.3.5. India
12.3.5.1. Market Revenue and Forecast, by Authentication Type (2021-2033)
12.3.5.2. Market Revenue and Forecast, by Model Type (2021-2033)
12.3.5.3. Market Revenue and Forecast, by Component (2021-2033)
12.3.5.4. Market Revenue and Forecast, by End User (2021-2033)
12.3.6. China
12.3.6.1. Market Revenue and Forecast, by Authentication Type (2021-2033)
12.3.6.2. Market Revenue and Forecast, by Model Type (2021-2033)
12.3.6.3. Market Revenue and Forecast, by Component (2021-2033)
12.3.6.4. Market Revenue and Forecast, by End User (2021-2033)
12.3.7. Japan
12.3.7.1. Market Revenue and Forecast, by Authentication Type (2021-2033)
12.3.7.2. Market Revenue and Forecast, by Model Type (2021-2033)
12.3.7.3. Market Revenue and Forecast, by Component (2021-2033)
12.3.7.4. Market Revenue and Forecast, by End User (2021-2033)
12.3.8. Rest of APAC
12.3.8.1. Market Revenue and Forecast, by Authentication Type (2021-2033)
12.3.8.2. Market Revenue and Forecast, by Model Type (2021-2033)
12.3.8.3. Market Revenue and Forecast, by Component (2021-2033)
12.3.8.4. Market Revenue and Forecast, by End User (2021-2033)
12.4. MEA
12.4.1. Market Revenue and Forecast, by Authentication Type (2021-2033)
12.4.2. Market Revenue and Forecast, by Model Type (2021-2033)
12.4.3. Market Revenue and Forecast, by Component (2021-2033)
12.4.4. Market Revenue and Forecast, by End User (2021-2033)
12.4.5. GCC
12.4.5.1. Market Revenue and Forecast, by Authentication Type (2021-2033)
12.4.5.2. Market Revenue and Forecast, by Model Type (2021-2033)
12.4.5.3. Market Revenue and Forecast, by Component (2021-2033)
12.4.5.4. Market Revenue and Forecast, by End User (2021-2033)
12.4.6. North Africa
12.4.6.1. Market Revenue and Forecast, by Authentication Type (2021-2033)
12.4.6.2. Market Revenue and Forecast, by Model Type (2021-2033)
12.4.6.3. Market Revenue and Forecast, by Component (2021-2033)
12.4.6.4. Market Revenue and Forecast, by End User (2021-2033)
12.4.7. South Africa
12.4.7.1. Market Revenue and Forecast, by Authentication Type (2021-2033)
12.4.7.2. Market Revenue and Forecast, by Model Type (2021-2033)
12.4.7.3. Market Revenue and Forecast, by Component (2021-2033)
12.4.7.4. Market Revenue and Forecast, by End User (2021-2033)
12.4.8. Rest of MEA
12.4.8.1. Market Revenue and Forecast, by Authentication Type (2021-2033)
12.4.8.2. Market Revenue and Forecast, by Model Type (2021-2033)
12.4.8.3. Market Revenue and Forecast, by Component (2021-2033)
12.4.8.4. Market Revenue and Forecast, by End User (2021-2033)
12.5. Latin America
12.5.1. Market Revenue and Forecast, by Authentication Type (2021-2033)
12.5.2. Market Revenue and Forecast, by Model Type (2021-2033)
12.5.3. Market Revenue and Forecast, by Component (2021-2033)
12.5.4. Market Revenue and Forecast, by End User (2021-2033)
12.5.5. Brazil
12.5.5.1. Market Revenue and Forecast, by Authentication Type (2021-2033)
12.5.5.2. Market Revenue and Forecast, by Model Type (2021-2033)
12.5.5.3. Market Revenue and Forecast, by Component (2021-2033)
12.5.5.4. Market Revenue and Forecast, by End User (2021-2033)
12.5.6. Rest of LATAM
12.5.6.1. Market Revenue and Forecast, by Authentication Type (2021-2033)
12.5.6.2. Market Revenue and Forecast, by Model Type (2021-2033)
12.5.6.3. Market Revenue and Forecast, by Component (2021-2033)
12.5.6.4. Market Revenue and Forecast, by End User (2021-2033)
Chapter 13. Company Profiles
13.1. RSA Security
13.1.1. Company Overview
13.1.2. Product Offerings
13.1.3. Financial Performance
13.1.4. Recent Initiatives
13.2. Symantec Corporation
13.2.1. Company Overview
13.2.2. Product Offerings
13.2.3. Financial Performance
13.2.4. Recent Initiatives
13.3. Gemalto (Thales Group)
13.3.1. Company Overview
13.3.2. Product Offerings
13.3.3. Financial Performance
13.3.4. Recent Initiatives
13.4. Duo Security (Cisco)
13.4.1. Company Overview
13.4.2. Product Offerings
13.4.3. Financial Performance
13.4.4. Recent Initiatives
13.5. Okta, Inc.
13.5.1. Company Overview
13.5.2. Product Offerings
13.5.3. Financial Performance
13.5.4. Recent Initiatives
13.6. HID Global
13.6.1. Company Overview
13.6.2. Product Offerings
13.6.3. Financial Performance
13.6.4. Recent Initiatives
13.7. OneLogin, Inc.
13.7.1. Company Overview
13.7.2. Product Offerings
13.7.3. Financial Performance
13.7.4. Recent Initiatives
13.8. Ping Identity
13.8.1. Company Overview
13.8.2. Product Offerings
13.8.3. Financial Performance
13.8.4. Recent Initiatives
13.9. IBM Corporation
13.9.1. Company Overview
13.9.2. Product Offerings
13.9.3. Financial Performance
13.9.4. Recent Initiatives
13.10. Microsoft Corporation
13.10.1. Company Overview
13.10.2. Product Offerings
13.10.3. Financial Performance
13.10.4. Recent Initiatives
Chapter 14. Research Methodology
14.1. Primary Research
14.2. Secondary Research
14.3. Assumptions
Chapter 15. Appendix
15.1. About Us
15.2. Glossary of Terms
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