+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

PRINTER FRIENDLY

Multi-Factor Authentication (MFA) - Global Market Trajectory & Analytics

  • ID: 3440922
  • Report
  • April 2021
  • Region: Global
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • CA Technologies
  • Gemalto NV
  • RSA Security, Inc.
  • SAFRAN Group
  • Symantec Corporation
Global Multi-Factor Authentication (MFA) Market to Reach $21.3 Billion by 2027

Amid the COVID-19 crisis, the global market for Multi-Factor Authentication (MFA) estimated at US$8.6 Billion in the year 2020, is projected to reach a revised size of US$21.3 Billion by 2027, growing at a CAGR of 13.9% over the analysis period 2020-2027. Two Factor Authentication, one of the segments analyzed in the report, is projected to record a 13.2% CAGR and reach US$14.9 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 15.9% CAGR for the next 7-year period.



The U.S. Market is Estimated at $2.3 Billion, While China is Forecast to Grow at 18% CAGR

The Multi-Factor Authentication (MFA) market in the U.S. is estimated at US$2.3 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.8 Billion by the year 2027 trailing a CAGR of 17.9% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.9% and 12.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 10.9% 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 14.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$259.7 Million in the year 2020 will reach a projected size of US$664.9 Million 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$3.2 Billion by the year 2027, while Latin America will expand at a 17% CAGR through the analysis period.

Select Competitors (Total 157 Featured):
  • CA Technologies
  • Gemalto NV
  • RSA Security, Inc.
  • SAFRAN Group
  • Symantec Corporation
Note: Product cover images may vary from those shown

FEATURED COMPANIES

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

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • Market Overview
  • Factors Driving MFA
  • Increasing Rates of Cybercrime to Drive MFA Adoption
  • Exhibit 1: Cyberattacks by Industry: 2019
  • Cloud Computing Adds Avenues for MFA
2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
  • Trends Summarized for MFA
  • Rise in Smartphone Usage Drive the Need for MFA
  • Exhibit 2: Smartphone Sales Worldwide in Million Units: 2007-2022
  • Wearables Widen Opportunities for MFA
  • Exhibit 3: 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
  • Exhibit 4: 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

III. MARKET ANALYSIS
  • UNITED STATES
  • CANADA
  • JAPAN
  • CHINA
  • EUROPE
  • FRANCE
  • GERMANY
  • ITALY
  • UNITED KINGDOM
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • AUSTRALIA
  • INDIA
  • SOUTH KOREA
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • ARGENTINA
  • BRAZIL
  • MEXICO
  • REST OF LATIN AMERICA
  • MIDDLE EAST
  • IRAN
  • ISRAEL
  • SAUDI ARABIA
  • UNITED ARAB EMIRATES
  • REST OF MIDDLE EAST
  • AFRICA
IV. COMPETITION
  • Total Companies Profiled: 157
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • CA Technologies
  • Gemalto NV
  • RSA Security, Inc.
  • SAFRAN Group
  • Symantec Corporation
Note: Product cover images may vary from those shown
Adroll
adroll