Multi-Factor Authentication Market Report: Trends, Forecast and Competitive Analysis to 2030

Multi-Factor Authentication Trends and Forecast

The future of the global multi-factor authentication market looks promising with opportunities in the BFSI, government & defense, healthcare, travel & immigration, and retail & e-commerce markets. The global multi-factor authentication market is expected to grow with a CAGR of 15.2% from 2024 to 2030. The major drivers for this market are growing number of security breach incidents, rising trend of cloud computing, and emergence of mobile-based authentication solutions.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Multi-Factor Authentication by Segment

The study includes a forecast for the global multi-factor authentication by model, application, and region.

Multi-Factor Authentication Market by Model [Shipment Analysis by Value from 2018 to 2030]:

• Two Factor Authentication
• Three Factor Authentication
• Four Factor Authentication
• Five Factor Authentication

Multi-Factor Authentication Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• BFSI
• Government & Defense
• Healthcare
• Travel & Immigration
• Retail & E-Commerce
• Others

Multi-Factor Authentication Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Multi-Factor Authentication Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies multi-factor authentication companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the multi-factor authentication companies profiled in this report include-

• Vasco Data Security International
• RSA Security
• Fujitsu America
• NEC Corporation
• Symantec Corporation
• Thales
• 3M
• aPersona
• CA Technologies
• Safran

Multi-Factor Authentication Market Insights

Lucintel forecasts that two factor will remain the largest segment over the forecast period.

Within this market, BFSI will remain the largest segment due to increasing demand for multi-factor authentication in this sector for transaction security, reducing data loss, and stopping fraud.

APAC will remain the largest region over the forecast period.

Features of the Global Multi-Factor Authentication Market

Market Size Estimates: Multi-factor authentication market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Multi-factor authentication market size by model, application, and region in terms of value ($B).

Regional Analysis: Multi-factor authentication market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different models, applications, and regions for the multi-factor authentication market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the multi-factor authentication market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the growth forecast for multi-factor authentication market?

Answer: The global multi-factor authentication market is expected to grow with a CAGR of 15.2% from 2024 to 2030.

Q2. What are the major drivers influencing the growth of the multi-factor authentication market?

Answer: The major drivers for this market are growing number of security breach incidents, rising trend of cloud computing, and emergence of mobile-based authentication solutions.

Q3. What are the major segments for multi-factor authentication market?

Answer: The future of the multi-factor authentication market looks promising with opportunities in the BFSI, government & defense, healthcare, travel & immigration, and retail & e-commerce markets.

Q4. Who are the key multi-factor authentication market companies?

Answer: Some of the key multi-factor authentication companies are as follows:

• Vasco Data Security International
• RSA Security
• Fujitsu America
• NEC Corporation
• Symantec Corporation
• Thales
• 3M
• aPersona
• CA Technologies
• Safran

Q5. Which multi-factor authentication market segment will be the largest in future?

Answer: Lucintel forecasts that two factor will remain the largest segment over the forecast period.

Q6. In multi-factor authentication market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region over the forecast period.

Q7. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the multi-factor authentication market by model (two factor authentication, three factor authentication, four factor authentication, and five factor authentication), application (BFSI, government & defense, healthcare, travel & immigration, retail & e-commerce, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?