May 26, 2024
ICT

Multi-factor Authentication Market Size to Gain USD 74.73 Bn By 2033

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.

Multi-factor Authentication Market Size 2024 To 2033

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

Read More:  Unified Communication as a Service Market Size, Share, Report 2033

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.

The most resonating, simple, genuine, and important causes because of which you must decide to buy the Multi-factor authentication market report exclusively from precedence research

  • 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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