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Multi-Factor Authentication (MFA): Global Strategic Business Report

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    Report

  • 163 Pages
  • October 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 3440922

Global Multi-Factor Authentication (MFA) Market to Reach $33.5 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Multi-Factor Authentication (MFA) estimated at US$12.6 Billion in the year 2020, is projected to reach a revised size of US$33.5 Billion by 2027, growing at a CAGR of 14.9% over the analysis period 2020-2027. Two Factor Authentication, one of the segments analyzed in the report, is projected to record a 13.9% CAGR and reach US$21.8 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Three Factor Authentication segment is readjusted to a revised 18.3% CAGR for the next 7-year period.

The U.S. Market is Estimated at $3.4 Billion, While China is Forecast to Grow at 20.1% CAGR

The Multi-Factor Authentication (MFA) market in the U.S. is estimated at US$3.4 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$7.6 Billion by the year 2027 trailing a CAGR of 19.9% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.1% and 13% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 11.4% CAGR.

Four Factor Authentication Segment to Record 15.3% CAGR

In the global Four Factor Authentication segment, USA, Canada, Japan, China and Europe will drive the 14.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$665.5 Million in the year 2020 will reach a projected size of US$1.7 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$5.1 Billion by the year 2027, while Latin America will expand at a 17.3% CAGR through the analysis period.

Select Competitors (Total 13 Featured) -

  • CA Technologies
  • Gemalto NV
  • RSA Security, Inc.
  • SAFRAN Group
  • Symantec Corporation

What`s New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and Research Platform
  • Complimentary updates for one year
Frequently Asked Questions about the Global Market for Multi-Factor Authentication (MFA)

What is the estimated value of the Global Market for Multi-Factor Authentication (MFA)?

The Global Market for Multi-Factor Authentication (MFA) was estimated to be valued at $12.6 Billion in 2020.

What is the growth rate of the Global Market for Multi-Factor Authentication (MFA)?

The growth rate of the Global Market for Multi-Factor Authentication (MFA) is 15.0%, with an estimated value of $33.5 Billion by 2027.

What is the forecasted size of the Global Market for Multi-Factor Authentication (MFA)?

The Global Market for Multi-Factor Authentication (MFA) is estimated to be worth $33.5 Billion by 2027.

Who are the key companies in the Global Market for Multi-Factor Authentication (MFA)?

Key companies in the Global Market for Multi-Factor Authentication (MFA) include CA Technologies, Gemalto NV, RSA Security, Inc. and Symantec Corporation.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • Multi-Factor Authentication (MFA) - Global Key Competitors Percentage Market Share in 2022 (E)
  • Market Overview
  • Factors Driving MFA
  • Increasing Rates of Cybercrime to Drive MFA Adoption
  • Cyberattacks by Industry: 2019
  • Cloud Computing Adds Avenues for MFA
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Trends Summarized for MFA
  • Rise in Smartphone Usage Drive the Need for MFA
  • Smartphone Sales Worldwide in Million Units: 2007-2022
  • Wearables Widen Opportunities for MFA
  • Global Wearble Shipments in Million Units: 2017-2022
  • Authentication as a Service (AaaS) Grows in Prominence
  • Enterprise Mobility & BYOD Movement Picks up Pace, Triggering the Need for MFA
  • Data Protection Regulations Mandate Use of MFA
  • Rise in eCommerce Market & Increasingg Data Protection Needs Fuel Demand for MFA
  • Global eCommerce as a Percentage of Retail Sales: 2017-2022
  • Growing Global Interest in E-Governance Drives Demand for MFA in the Government Sector
  • Banking & Financial Services Security Drives Interest in MFA
  • Insurance Companies Prioritize MFA amid Growing Complexities in Data Management
  • Opportunities for MFA in the Healthcare Sector
  • Online Gaming Platforms Drive MFA to Secure their Operations
  • Market Issues
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Multi-Factor Authentication (MFA) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 2: World Historic Review for Multi-Factor Authentication (MFA) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 3: World 15-Year Perspective for Multi-Factor Authentication (MFA) by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2012, 2021 & 2027
  • Table 4: World Recent Past, Current & Future Analysis for Two Factor Authentication by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 5: World Historic Review for Two Factor Authentication by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 6: World 15-Year Perspective for Two Factor Authentication by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 7: World Recent Past, Current & Future Analysis for Three Factor Authentication by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 8: World Historic Review for Three Factor Authentication by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 9: World 15-Year Perspective for Three Factor Authentication by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 10: World Recent Past, Current & Future Analysis for Four Factor Authentication by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 11: World Historic Review for Four Factor Authentication by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 12: World 15-Year Perspective for Four Factor Authentication by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 13: World Recent Past, Current & Future Analysis for Five Factor Authentication by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 14: World Historic Review for Five Factor Authentication by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 15: World 15-Year Perspective for Five Factor Authentication by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 16: World Recent Past, Current & Future Analysis for BFSI by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 17: World Historic Review for BFSI by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 18: World 15-Year Perspective for BFSI by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 19: World Recent Past, Current & Future Analysis for Government & Defense by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 20: World Historic Review for Government & Defense by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 21: World 15-Year Perspective for Government & Defense by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 22: World Recent Past, Current & Future Analysis for Healthcare by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 23: World Historic Review for Healthcare by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 24: World 15-Year Perspective for Healthcare by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 25: World Recent Past, Current & Future Analysis for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 26: World Historic Review for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 27: World 15-Year Perspective for Other Applications by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 28: World Recent Past, Current & Future Analysis for Solutions by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 29: World Historic Review for Solutions by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 30: World 15-Year Perspective for Solutions by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 31: World Recent Past, Current & Future Analysis for Hardware by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 32: World Historic Review for Hardware by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 33: World 15-Year Perspective for Hardware by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 34: World Recent Past, Current & Future Analysis for Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 35: World Historic Review for Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 36: World 15-Year Perspective for Services by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 37: World Recent Past, Current & Future Analysis for IT & Telecom by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 38: World Historic Review for IT & Telecom by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 39: World 15-Year Perspective for IT & Telecom by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 40: World Recent Past, Current & Future Analysis for Retail by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 41: World Historic Review for Retail by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 42: World 15-Year Perspective for Retail by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 43: World Multi-Factor Authentication (MFA) Market Analysis of Annual Sales in US$ Million for Years 2012 through 2027
III. MARKET ANALYSIS
UNITED STATES
  • Multi-Factor Authentication (MFA) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
CANADA
JAPAN
  • Multi-Factor Authentication (MFA) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
CHINA
  • Multi-Factor Authentication (MFA) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
EUROPE
  • Multi-Factor Authentication (MFA) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
FRANCE
  • Multi-Factor Authentication (MFA) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
GERMANY
  • Multi-Factor Authentication (MFA) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
ITALY
UNITED KINGDOM
  • Multi-Factor Authentication (MFA) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Multi-Factor Authentication (MFA) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
AUSTRALIA
  • Multi-Factor Authentication (MFA) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)
INDIA
  • Multi-Factor Authentication (MFA) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Multi-Factor Authentication (MFA) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Multi-Factor Authentication (MFA) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Multi-Factor Authentication (MFA) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)
IV. COMPETITION

Companies Mentioned

A selection of companies mentioned in this report includes:

  • CA Technologies
  • Gemalto NV
  • RSA Security, Inc.
  • SAFRAN Group
  • Symantec Corporation