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Multi-Factor Authentication Market by Authentication Type (Password-Based Authentication, Passwordless Authentication), Component (Hardware, Software, Services), Model Type, End User Industry and Region - Global Forecast to 2028

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    Report

  • 286 Pages
  • October 2023
  • Region: Global
  • Markets and Markets
  • ID: 5319406
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Proliferation of Cloud-based MFA Solutions and Services

The global MFA market size is projected to grow from USD 15.2 billion in 2023 to USD 34.8 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 18.0% during the forecast period. The MFA market is propelled by key factors shaping its growth trajectory. These include rising security breaches and sophisticated cyberattacks leading to financial and reputational loss. Furthermore, the scarcity of skilled cybersecurity professionals may hinder market growth. 

By end-user industry, BFSI industry holds the largest market size.

The BFSI industry is at the forefront of adopting the latest technologies related to MFA as it holds highly confidential information, such as the financial data of customers, user IDs, passwords, and other personal information. The industry is an early adopter of cutting-edge MFA solutions as they possess highly sensitive financial data. Government mandates such as the Personal Information Protection and Electronic Documents Act (PIPEDA), Gramm-Leach-Bliley Act (GLBA), Federal Financial Institutions Examination Council (FFIEC), along with standards that include Payment Card Industry Data Security Standard (PCI DSS), and Sarbanes-Oxley Act (SOX), require financial institutions to ensure protection from cyber criminals. Such regulations mandate the use of MFA in the BFSI industry to increase security. Moreover, the increased need for digitalization with the rise in online banking services, eCommerce activities, and stringent regulatory compliance are expected to drive the MFA market growth.

By model type, four-factor authentication segment to grow at highest CAGR during the forecast period.

An authentication system is highly secure when the user provides many identification factors. Earlier, single-factor authentication was usually accomplished by providing something you know, such as a password or PIN. The fourth factor is most referred to as location (where you are) but could also be a matter of time, or in some people’s opinion, even a performance, an exhibition, or even other people.

Four-factor authentication is achieved by requiring possession, location, a biometric, and a knowledge factor or by requiring location, a biometric, and two knowledge factors. Additional security parameters have encouraged companies to adopt such solutions to avoid cyberattacks. The four-factor authentication is expected to be one of the most promising technologies because of its sophisticated authentication and unbreakable security design.

By region, North America holds the largest market size. 

North America leads the global MFA market in terms of the presence of the world’s most significant number of MFA vendors. North America is the most advanced region regarding security technology adoption and infrastructure. The major growth drivers for this region are the widespread adherence to data compliance regulations and cloud deployments. Various security-related regulatory compliances control the overall protection of the communication infrastructures in the North American region. Moreover, due to the high adoption of cloud-based applications in North America, cyberattacks are increasing and becoming more sophisticated. Hence, industries in the region are increasingly implementing extensive MFA solutions. Moreover, North America is home to major MFA vendors such as Microsoft, Broadcom, OneSpan, OKTA, and Micro Focus. The presence of such prominent vendors drives the adoption of MFA solutions and services in the region.

Breakdown of primaries 

The break-up of the primaries is as follows:

  • By Company Type: Tier 1 - 40%, Tier 2 - 35%, and Tier 3 - 25%
  • By Designation: C-level - 40%, Director - 35%,  & other - 25%
  • By Region: North America - 30%, Europe - 20%, Asia Pacific - 45%, rest of World - 5%

Major vendors in the global MFA market include Microsoft (US), Thales (France), Okta (US), Broadcom (US), OneSpan (US), Micro Focus (UK), HID Global (US), Cisco (US), Ping Identity (US), RSA Security (US). The study includes an in-depth competitive analysis of the key players in the MFA market, their company profiles, recent developments, and key market strategies. 

Research Coverage
The report segments the MFA market and forecasts its size by Authentication Type (Password-Based, Passwordless), Component (Hardware, Software, Services), by Model Type (Two-factor authentication, Three-factor authentication, Four-factor authentication, Five-factor authentication), by End-user Industry (BFSI, Government, Travel & Immigration, Military & Defense, Commercial Security, Healthcare, IT & ITeS, Telecom, Media & Entertainment, Other End-user Industry), and Region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America).    

The study also includes an in-depth competitive analysis of the market’s key players, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall MFA market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.  

The report provides insights on the following pointers:

  • Analysis of key drivers (Growing adoption of BYOD, CYOD, and WFH trends, Rising security breaches and sophisticated cyberattacks leading to financial and reputational loss, Stringent government regulations to increase the adoption of MFA solutions, Rising instances of identity theft and fraud), restraints (High cost and technical complexities in implementing MFA solutions, Increasing response time in higher-order authentication model), opportunities (Proliferation of cloud-based MFA solutions and services, Rising adoption of interconnected devices in the IoT environment, High volume of online transactions) and challenges (Lack of awareness related to MFA among enterprises, Scarcity of skilled cybersecurity professionals)  
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the MFA market.
  • Market Development: Comprehensive information about lucrative markets - the report analyses the MFA market across varied regions.
  • Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the MFA market.
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Microsoft (US), Thales (France), Okta (US), Broadcom (US), OneSpan (US), Micro Focus (UK), HID Global (US), Cisco (US), Ping Identity (US), RSA Security (US) and among others in the MFA market strategies. 

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.2.1 Inclusions and Exclusions
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regions Covered
1.3.3 Years Considered
1.4 Currency Considered
Table 1 USD Exchange Rates, 2018-2022
1.5 Stakeholders
1.6 Summary of Changes

2 Research Methodology
2.1 Research Data
Figure 1 Multi-Factor Authentication Market: Research Design
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakdown of Primary Profiles
Figure 2 Breakdown of Primary Interviews: by Company Type, Designation, and Region
2.1.2.2 Key Insights from Industry Experts
2.2 Data Triangulation and Market Breakup
Figure 3 Market: Data Triangulation
2.3 Market Size Estimation
Figure 4 Market Estimation: Research Flow
2.3.1 Revenue Estimates
Figure 5 Market Size Estimation Methodology - Approach 1, Supply-Side Analysis: Revenue of Hardware, Solutions, and Services from Vendors
Figure 6 Market Size Estimation Methodology - Approach 1, Supply-Side Analysis
Figure 7 Market Size Estimation Methodology - Approach 2, Bottom-Up (Supply Side): Collective Revenue from All Hardware, Solutions, and Services of Vendors
2.3.2 Demand-Side Analysis
Figure 8 Market Size Estimation Methodology - Approach 3, Top-Down (Demand Side)
2.4 Market Forecast
Table 2 Factor Analysis
2.5 Recession Impact and Assumptions
2.5.1 Recession Impact
2.5.2 Assumptions
2.6 Limitations
Figure 9 Limitations

3 Executive Summary
Table 3 Multi-Factor Authentication Market Size and Growth Rate, 2017-2022 (USD Million, Y-O-Y %)
Table 4 Market Size and Growth Rate, 2023-2028 (USD Million, Y-O-Y %)
Figure 10 Global Market Size and Y-O-Y Growth Rate
Figure 11 North America to Dominate Market in 2023

4 Premium Insights
4.1 Brief Overview of Multi-Factor Authentication Market
Figure 12 Growing Instances of Data Breaches, Rising Adoption of BYOD Trends, and Stringent Regulations to Drive Market
4.2 Market: by Authentication Type, 2023
Figure 13 Password-based Authentication Segment to Hold Larger Market Share During Forecast Period
4.3 Market: by Component, 2023
Figure 14 Software Segment to Hold Largest Market Size During Forecast Period
4.4 Market: by Model Type, 2023
Figure 15 Two-Factor Authentication to Hold Largest Market Size During Forecast Period
4.5 Market Share: Top Three End-use Industries and Regions, 2023
Figure 16 Bfsi End-use Industry and North America to Account for Largest Market Share in 2023
4.6 Market Investment Scenario
Figure 17 Asia-Pacific to Emerge as Best Market for Investments in the Next Five Years

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
Figure 18 Drivers, Restraints, Opportunities, and Challenges: Multi-Factor Authentication Market
5.2.1 Drivers
5.2.1.1 Growing Adoption of BYOD, CYOD, and Wfh Trends
5.2.1.2 Rising Security Breaches and Sophisticated Cyberattacks to Lead to Financial and Reputational Loss
5.2.1.3 Stringent Government Regulations to Increase Adoption of Mfa Solutions
5.2.1.4 Rising Instances of Identity Theft and Fraud
5.2.2 Restraints
5.2.2.1 High Cost and Technical Complexities
5.2.2.2 More Time-Consuming Than Two-Factor Authentication Systems
5.2.3 Opportunities
5.2.3.1 Proliferation of Cloud-based MFA Solutions and Services
5.2.3.2 Growing Adoption of Interconnected Devices in IoT Environment
5.2.3.3 Increasing Digital Banking and Online Transactions
5.2.4 Challenges
5.2.4.1 Lack of Awareness Regarding Mfa Solutions
5.2.4.2 Scarcity of Skilled Cybersecurity Professionals
5.3 Case Study Analysis
5.3.1 Ping Identity Improved Booking Reconciliation Process of Pameijer Across All Business Units
5.3.2 Amerigas Deployed Duo Security's Mfa to Achieve Pci-Dss Compliance
5.3.3 Broward College Implemented Onelogin Multi-Factor Authentication to Offer Access Management
5.3.4 Okta Delivered Blackhawk Network Centralized, Scalable Platform and Safeguarded Backend by Extending Sso and Mfa
5.4 Value Chain Analysis
Figure 19 Multi-Factor Authentication Market: Value Chain Analysis
5.5 Ecosystem
Figure 20 Market: Ecosystem
5.6 Porter's Five Forces Analysis
Table 5 Porter's Five Forces Analysis
Figure 21 Market: Porter's Five Forces Analysis
5.6.1 Threat of New Entrants
5.6.2 Threat of Substitutes
5.6.3 Bargaining Power of Suppliers
5.6.4 Bargaining Power of Buyers
5.6.5 Intensity of Competitive Rivalry
5.7 Pricing Analysis
5.7.1 Okta
5.7.2 Onelogin
5.8 Technology Analysis
5.8.1 Out-Of-Band Authentication
5.8.2 Built-In Fingerprint Readers
5.8.3 Baked-In Authentication
5.9 Patent Analysis
Figure 22 List of Major Patents for Multi-Factor Authentication Market
Table 6 List of Patents in Market, 2023
5.10 Trends and Disruptions Impacting Customers/Clients’ Businesses
Figure 23 Market: Trends and Disruptions Impacting Customers/Clients’ Businesses
5.11 Technology Roadmap
Table 7 Market: Technology Roadmap
5.12 Business Model Analysis
Table 8 Multi-Factor Authentication Market: Business Model Analysis
5.13 Evolution of Multi-Factor Authentication
5.14 Regulatory Landscape
5.14.1 Regulatory Bodies, Government Agencies, and Other Organizations
Table 9 List of Regulatory Bodies, Government Agencies, and Other Organizations
5.14.2 Criminal Justice Information System Security Policy
5.14.3 Payment Card Industry Data Security Standard
5.14.4 Ffiec Authentication in an Internet Banking Environment
5.14.5 Fair and Accurate Credit Transaction Act
5.14.6 Identity Theft Red Flags
5.14.7 Health Insurance Portability and Accountability Act
5.14.8 Sarbanes-Oxley Act
5.14.9 Gramm-Leach-Bliley Act
5.15 HS Codes
Table 10 Export Scenario for HS Code 8301, by Country, 2022 (KG)
Table 11 Import Scenario for HS Code 8301, by Country, 2022 (KG)
5.16 Key Stakeholders and Buying Criteria
5.16.1 Key Stakeholders in Buying Process
Figure 24 Influence of Stakeholders on Buying Process for Top Three End-users
Table 12 Influence of Stakeholders on Buying Process for Top Three End-users
5.16.2 Buying Criteria
Figure 25 Key Buying Criteria for Top Three End-users
Table 13 Key Buying Criteria for Top Three End-users
5.17 Key Conferences and Events, 2023-2024
Table 14 Market: List of Conferences and Events, 2023-2024

6 Multi-Factor Authentication Market, by Authentication Type
6.1 Introduction
6.1.1 Authentication Type: Market Drivers
Figure 26 Passwordless Authentication Segment to Grow at Higher CAGR During Forecast Period
Table 15 Market, by Authentication Type, 2017-2022 (USD Million)
Table 16 Market, by Authentication Type, 2023-2028 (USD Million)
6.2 Password-based Authentication
6.2.1 Easy Integration of Password-based Authentication into Various Systems, Applications, and Devices to Drive Its Adoption
Table 17 Password-based Authentication: Market, by Region, 2017-2022 (USD Million)
Table 18 Password-based Authentication: Market, by Region, 2023-2028 (USD Million)
6.3 Passwordless Authentication
6.3.1 Passwordless Authentication to Use Unique Biometric Attributes and Eliminate Issue of Remembering Passwords
Table 19 Passwordless Authentication: Market, by Region, 2017-2022 (USD Million)
Table 20 Passwordless Authentication: Market, by Region, 2023-2028 (USD Million)

7 Multi-Factor Authentication Market, by Component
7.1 Introduction
7.1.1 Component: Market Drivers
Figure 27 Software Segment to Hold Largest Market Size During Forecast Period
Table 21 Market, by Component, 2017-2022 (USD Million)
Table 22 Market, by Component, 2023-2028 (USD Million)
7.2 Hardware
7.2.1 Hardware-based Mfa Methods to Provide Robust Authentication and Significantly Reduce Risk of Unauthorized Access
Table 23 Hardware: Market, by Region, 2017-2022 (USD Million)
Table 24 Hardware: Market, by Region, 2023-2028 (USD Million)
7.3 Software
7.3.1 Mfa Software to Help Businesses Comply with Regulatory Norms while Securing Their Confidential Data
Table 25 Software: Market, by Region, 2017-2022 (USD Million)
Table 26 Software: Market, by Region, 2023-2028 (USD Million)
7.4 Services
7.4.1 Mfa Services to Deploy, Execute, and Maintain Mfa Platforms in Organizations
Table 27 Services: Market, by Region, 2017-2022 (USD Million)
Table 28 Services: Market, by Region, 2023-2028 (USD Million)

8 Multi-Factor Authentication Market, by Model Type
8.1 Introduction
8.1.1 Model Type: Market Drivers
Figure 28 Two-Factor Authentication Segment to Hold Largest Market Size During Forecast Period
Table 29 Market, by Model Type, 2017-2022 (USD Million)
Table 30 Market, by Model Type, 2023-2028 (USD Million)
8.2 Two-Factor Authentication
8.2.1 Need for Additional Layer of Security and Remain Compliant to Drive Adoption of Two-Factor Authentication
Table 31 Two-Factor Authentication: Market, by Region, 2017-2022 (USD Million)
Table 32 Two-Factor Authentication: Market, by Region, 2023-2028 (USD Million)
Table 33 Two-Factor Authentication: Market, by Type, 2017-2022 (USD Million)
Table 34 Two-Factor Authentication: Multi-Factor Authentication Market, by Type, 2023-2028 (USD Million)
8.2.2 Smart Card with Pin
8.2.2.1 Need for High Level of Security and Protect Sensitive Consumer and Company Data with Smart Cards and Pins to Drive Market
Table 35 Two-Factor Authentication: Smart Card with Pin Market, by Region, 2017-2022 (USD Million)
Table 36 Two-Factor Authentication: Smart Card with Pin Market, by Region, 2023-2028 (USD Million)
8.2.3 Smart Card with Biometric Technology
8.2.3.1 Smart Cards with Biometric Technology to Control Access to Buildings, Secure Areas, and IT Systems
Table 37 Two-Factor Authentication: Smart Card with Biometric Technology Market, by Region, 2017-2022 (USD Million)
Table 38 Two-Factor Authentication: Smart Card with Biometric Technology Market, by Region, 2023-2028 (USD Million)
8.2.4 Biometric Technology with Pin
8.2.4.1 Biometric Technology with Pin to be Used for Various Financial Applications
Table 39 Two-Factor Authentication: Biometric Technology with Pin Market, by Region, 2017-2022 (USD Million)
Table 40 Two-Factor Authentication: Biometric Technology with Pin Market, by Region, 2023-2028 (USD Million)
8.2.5 Two-Factor Biometric Technology
8.2.5.1 Two-Factor Biometric Technology to Safeguard Assets and Maintain Trust
Table 41 Two-Factor Authentication: Two-Factor Biometric Technology Market, by Region, 2017-2022 (USD Million)
Table 42 Two-Factor Authentication: Two-Factor Biometric Technology Market, by Region, 2023-2028 (USD Million)
8.2.6 One-Time Password with Pin
8.2.6.1 Otp with Pin to Secure Access to Corporate Systems and Mobile Apps
Table 43 Two-Factor Authentication: One-Time Password with Pin Market, by Region, 2017-2022 (USD Million)
Table 44 Two-Factor Authentication: One-Time Password with Pin Market, by Region, 2023-2028 (USD Million)
8.3 Three-Factor Authentication
8.3.1 Increasing Cloud Computing Usage to Drive Adoption of Three-Factor Authentication
Table 45 Three-Factor Authentication: Market, by Region, 2017-2022 (USD Million)
Table 46 Three-Factor Authentication: Market, by Region, 2023-2028 (USD Million)
Table 47 Three-Factor Authentication: Market, by Type, 2017-2022 (USD Million)
Table 48 Three-Factor Authentication: Multi-Factor Authentication Market, by Type, 2023-2028 (USD Million)
8.3.2 Smart Card with Pin and Biometric Technology
8.3.2.1 High Resilience to Various Forms of Attacks, Including Phishing, Credential Theft, and Identity Fraud, to Drive Market
Table 49 Three-Factor Authentication: Smart Card with Pin and Biometric Technology Market, by Region, 2017-2022 (USD Million)
Table 50 Three-Factor Authentication: Smart Card with Pin and Biometric Technology Market, by Region, 2023-2028 (USD Million)
8.3.3 Smart Card with Two-Factor Biometric Technology
8.3.3.1 Need for Handling Sensitive Data in Healthcare and Finance and Preventing Data Breaches to Drive Demand for Smart Card
Table 51 Three-Factor Authentication: Smart Card with Two-Factor Biometric Technology Market, by Region, 2017-2022 (USD Million)
Table 52 Three-Factor Authentication: Smart Card with Two-Factor Biometric Technology Market, by Region, 2023-2028 (USD Million)
8.3.4 Pin with Two-Factor Biometric Technology
8.3.4.1 Need for Superior Security, Compliance with Legal Requirements, and Durability Against Online Threats to Drive Market
Table 53 Three-Factor Authentication: Pin with Two-Factor Biometric Technology Market, by Region, 2017-2022 (USD Million)
Table 54 Three-Factor Authentication: Pin with Two-Factor Biometric Technology Market, by Region, 2023-2028 (USD Million)
8.3.5 Three-Factor Biometric Technology
8.3.5.1 Three-Factor Biometric Technology to Impersonate Legitimate Users and Reduce Risk of Identity Theft
Table 55 Three-Factor Authentication: Three-Factor Biometric Technology Market, by Region, 2017-2022 (USD Million)
Table 56 Three-Factor Authentication: Three-Factor Biometric Technology Market, by Region, 2023-2028 (USD Million)
8.4 Four-Factor Authentication
8.4.1 Need to Leverage Four Distinct Authentication Factors to Verify User Identity and Enhance Security to Unprecedented Levels
Table 57 Four-Factor Authentication: Market, by Region, 2017-2022 (USD Million)
Table 58 Four-Factor Authentication: Market, by Region, 2023-2028 (USD Million)
8.5 Five-Factor Authentication
8.5.1 5Fa to Offer High Level of Security to Safeguard Data and Technology
Table 59 Five-Factor Authentication: Market, by Region, 2017-2022 (USD Million)
Table 60 Five-Factor Authentication: Market, by Region, 2023-2028 (USD Million)

9 Multi-Factor Authentication Market, by End-use Industry
9.1 Introduction
9.1.1 End-use Industry: Market Drivers
Figure 29 Bfsi Segment to Hold Largest Market Size During Forecast Period
Table 61 Market, by End-use Industry, 2017-2022 (USD Million)
Table 62 Market, by End-use Industry, 2023-2028 (USD Million)
9.2 Bfsi
9.2.1 Need to Protect Highly Confidential Information and Help Secure Government Data to Drive Market
Table 63 Bfsi: Market, by Region, 2017-2022 (USD Million)
Table 64 Bfsi: Market, by Region, 2023-2028 (USD Million)
9.3 Government
9.3.1 Digitalization of Government and Defense Processes and Safeguard Government Data from Breaches to Drive Market
Table 65 Government: Market, by Region, 2017-2022 (USD Million)
Table 66 Government: Market, by Region, 2023-2028 (USD Million)
9.4 Travel & Immigration
9.4.1 Multi-Factor Authentication to Capture, Manage, and Apply Identity Data Across Digital Channels
Table 67 Travel & Immigration: Market, by Region, 2017-2022 (USD Million)
Table 68 Travel & Immigration: Market, by Region, 2023-2028 (USD Million)
9.5 Military & Defense
9.5.1 Defense Segment to Utilize Biometrics to Tackle Cyberattacks
Table 69 Military & Defense: Market, by Region, 2017-2022 (USD Million)
Table 70 Military & Defense: Market, by Region, 2023-2028 (USD Million)
9.6 Commercial Security
9.6.1 Organizations to Safeguard Client Data and Assets with Multi-Factor Authentication
Table 71 Commercial Security: Multi-Factor Authentication Market, by Region, 2017-2022 (USD Million)
Table 72 Commercial Security: Market, by Region, 2023-2028 (USD Million)
9.7 Healthcare
9.7.1 Multi-Factor Authentication Solutions to Address Data Security, Patient Safety, and Productivity
Table 73 Healthcare: Market, by Region, 2017-2022 (USD Million)
Table 74 Healthcare: Market, by Region, 2023-2028 (USD Million)
9.8 IT & Ites
9.8.1 Rapid Adoption in Wfh Policy and Focus on Maintaining Security of Hybrid IT Environments to Drive Market
Table 75 IT & Ites: Market, by Region, 2017-2022 (USD Million)
Table 76 IT & Ites: Market, by Region, 2023-2028 (USD Million)
9.9 Telecom
9.9.1 Advent of 5G Technology and Internet of Things to Drive Market
Table 77 Telecom: Market, by Region, 2017-2022 (USD Million)
Table 78 Telecom: Market, by Region, 2023-2028 (USD Million)
9.10 Media & Entertainment
9.10.1 Multi-Factor Authentication to Secure Valuable Intellectual Property
Table 79 Media & Entertainment: Market, by Region, 2017-2022 (USD Million)
Table 80 Media & Entertainment: Market, by Region, 2023-2028 (USD Million)
9.11 Other End-use Industries
Table 81 Other End-use Industries: Market, by Region, 2017-2022 (USD Million)
Table 82 Other End-use Industries: Market, by Region, 2023-2028 (USD Million)

10 Multi-Factor Authentication Market, by Region
10.1 Introduction
Figure 30 Asia-Pacific to Grow at Highest CAGR During Forecast Period
Table 83 Market, by Region, 2017-2022 (USD Million)
Table 84 Market, by Region, 2023-2028 (USD Million)
10.2 North America
10.2.1 North America: Market Drivers
10.2.2 North America: Recession Impact
10.2.3 North America: Regulatory Landscape
Figure 31 North America: Market Snapshot
Table 85 North America: Multi-Factor Authentication Market, by Authentication Type, 2017-2022 (USD Million)
Table 86 North America: Market, by Authentication Type, 2023-2028 (USD Million)
Table 87 North America: Market, by Component, 2017-2022 (USD Million)
Table 88 North America: Market, by Component, 2023-2028 (USD Million)
Table 89 North America: Market, by Model Type, 2017-2022 (USD Million)
Table 90 North America: Market, by Model Type, 2023-2028 (USD Million)
Table 91 North America: Market, by Two-Factor Authentication, 2017-2022 (USD Million)
Table 92 North America: Market, by Two-Factor Authentication, 2023-2028 (USD Million)
Table 93 North America: Market, by Three-Factor Authentication, 2017-2022 (USD Million)
Table 94 North America: Market, by Three-Factor Authentication, 2023-2028 (USD Million)
Table 95 North America: Market, by End-use Industry, 2017-2022 (USD Million)
Table 96 North America: Market, by End-use Industry, 2023-2028 (USD Million)
Table 97 North America: Market, by Country, 2017-2022 (USD Million)
Table 98 North America: Market, by Country, 2023-2028 (USD Million)
10.2.4 US
10.2.4.1 Presence of Stringent Laws, Growing Internet Penetration, and Government Initiatives to Adopt Mfa to Drive Market
Table 99 US: Multi-Factor Authentication Market, by Authentication Type, 2017-2022 (USD Million)
Table 100 US: Market, by Authentication Type, 2023-2028 (USD Million)
Table 101 US: Market, by Component, 2017-2022 (USD Million)
Table 102 US: Market, by Component, 2023-2028 (USD Million)
Table 103 US: Market, by Model Type, 2017-2022 (USD Million)
Table 104 US: Market, by Model Type, 2023-2028 (USD Million)
Table 105 US: Market, by End-use Industry, 2017-2022 (USD Million)
Table 106 US: Market, by End-use Industry, 2023-2028 (USD Million)
10.2.5 Canada
10.2.5.1 Increased Occurrence of Online Fraud, Terrorist Attacks, and Bad Bot Attacks to Drive Market
Table 107 Canada: Market, by Authentication Type, 2017-2022 (USD Million)
Table 108 Canada: Market, by Authentication Type, 2023-2028 (USD Million)
Table 109 Canada: Market, by Component, 2017-2022 (USD Million)
Table 110 Canada: Market, by Component, 2023-2028 (USD Million)
Table 111 Canada: Market, by Model Type, 2017-2022 (USD Million)
Table 112 Canada: Market, by Model Type, 2023-2028 (USD Million)
Table 113 Canada: Market, by End-use Industry, 2017-2022 (USD Million)
Table 114 Canada: Market, by End-use Industry, 2023-2028 (USD Million)
10.3 Europe
10.3.1 Europe: Market Drivers
10.3.2 Europe: Recession Impact
10.3.3 Europe: Regulatory Landscape
Table 115 Europe: Multi-Factor Authentication Market, by Authentication Type, 2017-2022 (USD Million)
Table 116 Europe: Market, by Authentication Type, 2023-2028 (USD Million)
Table 117 Europe: Market, by Component, 2017-2022 (USD Million)
Table 118 Europe: Market, by Component, 2023-2028 (USD Million)
Table 119 Europe: Market, by Model Type, 2017-2022 (USD Million)
Table 120 Europe: Market, by Model Type, 2023-2028 (USD Million)
Table 121 Europe: Market, by Two-Factor Authentication, 2017-2022 (USD Million)
Table 122 Europe: Market, by Two-Factor Authentication, 2023-2028 (USD Million)
Table 123 Europe: Market, by Three-Factor Authentication, 2017-2022 (USD Million)
Table 124 Europe: Market, by Three-Factor Authentication, 2023-2028 (USD Million)
Table 125 Europe: Market, by End-use Industry, 2017-2022 (USD Million)
Table 126 Europe: Market, by End-use Industry, 2023-2028 (USD Million)
Table 127 Europe: Market, by Country, 2017-2022 (USD Million)
Table 128 Europe: Market, by Country, 2023-2028 (USD Million)
10.3.4 UK
10.3.4.1 Increasing Identity Fraud to Boost Adoption of Mfa
Table 129 UK: Market, by Authentication Type, 2017-2022 (USD Million)
Table 130 UK: Market, by Authentication Type, 2023-2028 (USD Million)
Table 131 UK: Market, by Component, 2017-2022 (USD Million)
Table 132 UK: Market, by Component, 2023-2028 (USD Million)
Table 133 UK: Market, by Model Type, 2017-2022 (USD Million)
Table 134 UK: Market, by Model Type, 2023-2028 (USD Million)
Table 135 UK: Market, by End-use Industry, 2017-2022 (USD Million)
Table 136 UK: Market, by End-use Industry, 2023-2028 (USD Million)
10.3.5 Germany
10.3.5.1 Rising Innovative Technologies and Need to Combat Financial Crimes to Drive Market
Table 137 Germany: Multi-Factor Authentication Market, by Authentication Type, 2017-2022 (USD Million)
Table 138 Germany: Market, by Authentication Type, 2023-2028 (USD Million)
Table 139 Germany: Market, by Component, 2017-2022 (USD Million)
Table 140 Germany: Market, by Component, 2023-2028 (USD Million)
Table 141 Germany: Market, by Model Type, 2017-2022 (USD Million)
Table 142 Germany: Market, by Model Type, 2023-2028 (USD Million)
Table 143 Germany: Market, by End-use Industry, 2017-2022 (USD Million)
Table 144 Germany: Market, by End-use Industry, 2023-2028 (USD Million)
10.3.6 France
10.3.6.1 Guidelines of French Data Protection Authority to Adopt Mfa to Drive Market
Table 145 France: Market, by Authentication Type, 2017-2022 (USD Million)
Table 146 France: Market, by Authentication Type, 2023-2028 (USD Million)
Table 147 France: Market, by Component, 2017-2022 (USD Million)
Table 148 France: Market, by Component, 2023-2028 (USD Million)
Table 149 France: Market, by Model Type, 2017-2022 (USD Million)
Table 150 France: Market, by Model Type, 2023-2028 (USD Million)
Table 151 France: Market, by End-use Industry, 2017-2022 (USD Million)
Table 152 France: Market, by End-use Industry, 2023-2028 (USD Million)
10.3.7 Italy
10.3.7.1 Consistent Growth in Cybersecurity and Need to Comply with Gdpr to Drive Market
Table 153 Italy: Multi-Factor Authentication Market, by Authentication Type, 2017-2022 (USD Million)
Table 154 Italy: Market, by Authentication Type, 2023-2028 (USD Million)
Table 155 Italy: Market, by Component, 2017-2022 (USD Million)
Table 156 Italy: Market, by Component, 2023-2028 (USD Million)
Table 157 Italy: Market, by Model Type, 2017-2022 (USD Million)
Table 158 Italy: Market, by Model Type, 2023-2028 (USD Million)
Table 159 Italy: Market, by End-use Industry, 2017-2022 (USD Million)
Table 160 Italy: Market, by End-use Industry, 2023-2028 (USD Million)
10.3.8 Rest of Europe
Table 161 Rest of Europe: Market, by Authentication Type, 2017-2022 (USD Million)
Table 162 Rest of Europe: Market, by Authentication Type, 2023-2028 (USD Million)
Table 163 Rest of Europe: Market, by Component, 2017-2022 (USD Million)
Table 164 Rest of Europe: Market, by Component, 2023-2028 (USD Million)
Table 165 Rest of Europe: Market, by Model Type, 2017-2022 (USD Million)
Table 166 Rest of Europe: Market, by Model Type, 2023-2028 (USD Million)
Table 167 Rest of Europe: Market, by End-use Industry, 2017-2022 (USD Million)
Table 168 Rest of Europe: Market, by End-use Industry, 2023-2028 (USD Million)
10.4 Asia-Pacific
10.4.1 Asia-Pacific: Market Drivers
10.4.2 Asia-Pacific: Recession Impact
10.4.3 Asia-Pacific: Regulatory Landscape
Figure 32 Asia-Pacific: Market Snapshot
Table 169 Asia-Pacific: Multi-Factor Authentication Market, by Authentication Type, 2017-2022 (USD Million)
Table 170 Asia-Pacific: Market, by Authentication Type, 2023-2028 (USD Million)
Table 171 Asia-Pacific: Market, by Component, 2017-2022 (USD Million)
Table 172 Asia-Pacific: Market, by Component, 2023-2028 (USD Million)
Table 173 Asia-Pacific: Market, by Model Type, 2017-2022 (USD Million)
Table 174 Asia-Pacific: Market, by Model Type, 2023-2028 (USD Million)
Table 175 Asia-Pacific: Market, by Two-Factor Authentication, 2017-2022 (USD Million)
Table 176 Asia-Pacific: Market, by Two-Factor Authentication, 2023-2028 (USD Million)
Table 177 Asia-Pacific: Market, by Three-Factor Authentication, 2017-2022 (USD Million)
Table 178 Asia-Pacific: Market, by Three-Factor Authentication, 2023-2028 (USD Million)
Table 179 Asia-Pacific: Market, by End-use Industry, 2017-2022 (USD Million)
Table 180 Asia-Pacific: Market, by End-use Industry, 2023-2028 (USD Million)
Table 181 Asia-Pacific: Market, by Country, 2017-2022 (USD Million)
Table 182 Asia-Pacific: Market, by Country, 2023-2028 (USD Million)
10.4.4 Australia
10.4.4.1 Need to Safeguard Data, Websites, and Mobile Applications and Focus of Australian Tpb to Enhance Its Online Portal with Mfa to Drive Market
Table 183 Australia: Multi-Factor Authentication Market, by Authentication Type, 2017-2022 (USD Million)
Table 184 Australia: Market, by Authentication Type, 2023-2028 (USD Million)
Table 185 Australia: Market, by Component, 2017-2022 (USD Million)
Table 186 Australia: Market, by Component, 2023-2028 (USD Million)
Table 187 Australia: Market, by Model Type, 2017-2022 (USD Million)
Table 188 Australia: Market, by Model Type, 2023-2028 (USD Million)
Table 189 Australia: Market, by End-use Industry, 2017-2022 (USD Million)
Table 190 Australia: Market, by End-use Industry, 2023-2028 (USD Million)
10.4.5 India
10.4.5.1 Personal Data Protection Act to Strengthen Data Privacy Across All Fis to Drive Demand for Mfa
Table 191 India: Market, by Authentication Type, 2017-2022 (USD Million)
Table 192 India: Market, by Authentication Type, 2023-2028 (USD Million)
Table 193 India: Market, by Component, 2017-2022 (USD Million)
Table 194 India: Market, by Component, 2023-2028 (USD Million)
Table 195 India: Market, by Model Type, 2017-2022 (USD Million)
Table 196 India: Market, by Model Type, 2023-2028 (USD Million)
Table 197 India: Market, by End-use Industry, 2017-2022 (USD Million)
Table 198 India: Market, by End-use Industry, 2023-2028 (USD Million)
10.4.6 China
10.4.6.1 Surge in Mobile Commerce and Digital Payment Platforms to Drive Growth of Mfa
Table 199 China: Multi-Factor Authentication Market, by Authentication Type, 2017-2022 (USD Million)
Table 200 China: Market, by Authentication Type, 2023-2028 (USD Million)
Table 201 China: Market, by Component, 2017-2022 (USD Million)
Table 202 China: Market, by Component, 2023-2028 (USD Million)
Table 203 China: Market, by Model Type, 2017-2022 (USD Million)
Table 204 China: Market, by Model Type, 2023-2028 (USD Million)
Table 205 China: Market, by End-use Industry, 2017-2022 (USD Million)
Table 206 China: Market, by End-use Industry, 2023-2028 (USD Million)
10.4.7 Japan
10.4.7.1 Strong Technological Base and Focus on Data Protection and Government Support to Drive Market
Table 207 Japan: Market, by Authentication Type, 2017-2022 (USD Million)
Table 208 Japan: Market, by Authentication Type, 2023-2028 (USD Million)
Table 209 Japan: Market, by Component, 2017-2022 (USD Million)
Table 210 Japan: Market, by Component, 2023-2028 (USD Million)
Table 211 Japan: Market, by Model Type, 2017-2022 (USD Million)
Table 212 Japan: Market, by Model Type, 2023-2028 (USD Million)
Table 213 Japan: Market, by End-use Industry, 2017-2022 (USD Million)
Table 214 Japan: Market, by End-use Industry, 2023-2028 (USD Million)
10.4.8 Rest of Asia-Pacific
Table 215 Rest of Asia-Pacific: Market, by Authentication Type, 2017-2022 (USD Million)
Table 216 Rest of Asia-Pacific: Market, by Authentication Type, 2023-2028 (USD Million)
Table 217 Rest of Asia-Pacific: Market, by Component, 2017-2022 (USD Million)
Table 218 Rest of Asia-Pacific: Market, by Component, 2023-2028 (USD Million)
Table 219 Rest of Asia-Pacific: Market, by Model Type, 2017-2022 (USD Million)
Table 220 Rest of Asia-Pacific: Market, by Model Type, 2023-2028 (USD Million)
Table 221 Rest of Asia-Pacific: Market, by End-use Industry, 2017-2022 (USD Million)
Table 222 Rest of Asia-Pacific: Market, by End-use Industry, 2023-2028 (USD Million)
10.5 Middle East & Africa
10.5.1 Middle East & Africa: Market Drivers
10.5.2 Middle East & Africa: Recession Impact
10.5.3 Middle East & Africa: Regulatory Landscape
Table 223 Middle East & Africa: Multi-Factor Authentication Market, by Authentication Type, 2017-2022 (USD Million)
Table 224 Middle East & Africa: Market, by Authentication Type, 2023-2028 (USD Million)
Table 225 Middle East & Africa: Market, by Component, 2017-2022 (USD Million)
Table 226 Middle East & Africa: Market, by Component, 2023-2028 (USD Million)
Table 227 Middle East & Africa: Market, by Model Type, 2017-2022 (USD Million)
Table 228 Middle East & Africa: Market, by Model Type, 2023-2028 (USD Million)
Table 229 Middle East & Africa: Market, by Two-Factor Authentication, 2017-2022 (USD Million)
Table 230 Middle East & Africa: Market, by Two-Factor Authentication, 2023-2028 (USD Million)
Table 231 Middle East & Africa: Market, by Three-Factor Authentication, 2017-2022 (USD Million)
Table 232 Middle East & Africa: Market, by Three-Factor Authentication, 2023-2028 (USD Million)
Table 233 Middle East & Africa: Market, by End-use Industry, 2017-2022 (USD Million)
Table 234 Middle East & Africa: Market, by End-use Industry, 2023-2028 (USD Million)
Table 235 Middle East & Africa: Market, by Country, 2017-2022 (USD Million)
Table 236 Middle East & Africa: Market, by Country, 2023-2028 (USD Million)
10.5.4 UAE
10.5.4.1 Need to Adopt Modern Low-Friction Authentication Techniques to Safeguard Mixed Workforces to Drive Market
Table 237 UAE: Multi-Factor Authentication Market, by Authentication Type, 2017-2022 (USD Million)
Table 238 UAE: Market, by Authentication Type, 2023-2028 (USD Million)
Table 239 UAE: Market, by Component, 2017-2022 (USD Million)
Table 240 UAE: Market, by Component, 2023-2028 (USD Million)
Table 241 UAE: Market, by Model Type, 2017-2022 (USD Million)
Table 242 UAE: Market, by Model Type, 2023-2028 (USD Million)
Table 243 UAE: Market, by End-use Industry, 2017-2022 (USD Million)
Table 244 UAE: Market, by End-use Industry, 2023-2028 (USD Million)
10.5.5 Ksa
10.5.5.1 Need to Secure Digital Identities to Fuel Adoption of Mfa Solutions
Table 245 Ksa: Market, by Authentication Type, 2017-2022 (USD Million)
Table 246 Ksa: Market, by Authentication Type, 2023-2028 (USD Million)
Table 247 Ksa: Market, by Component, 2017-2022 (USD Million)
Table 248 Ksa: Market, by Component, 2023-2028 (USD Million)
Table 249 Ksa: Market, by Model Type, 2017-2022 (USD Million)
Table 250 Ksa: Market, by Model Type, 2023-2028 (USD Million)
Table 251 Ksa: Market, by End-use Industry, 2017-2022 (USD Million)
Table 252 Ksa: Market, by End-use Industry, 2023-2028 (USD Million)
10.5.6 Rest of Middle East & Africa
Table 253 Rest of Middle East & Africa: Market, by Authentication Type, 2017-2022 (USD Million)
Table 254 Rest of Middle East & Africa: Market, by Authentication Type, 2023-2028 (USD Million)
Table 255 Rest of Middle East & Africa: Market, by Component, 2017-2022 (USD Million)
Table 256 Rest of Middle East & Africa: Market, by Component, 2023-2028 (USD Million)
Table 257 Rest of Middle East & Africa: Market, by Model Type, 2017-2022 (USD Million)
Table 258 Rest of Middle East & Africa: Market, by Model Type, 2023-2028 (USD Million)
Table 259 Rest of Middle East & Africa: Market, by End-use Industry, 2017-2022 (USD Million)
Table 260 Rest of Middle East & Africa: Market, by End-use Industry, 2023-2028 (USD Million)
10.6 Latin America
10.6.1 Latin America: Market Drivers
10.6.2 Latin America: Recession Impact
10.6.3 Latin America: Regulatory Landscape
Table 261 Latin America: Multi-Factor Authentication Market, by Authentication Type, 2017-2022 (USD Million)
Table 262 Latin America: Market, by Authentication Type, 2023-2028 (USD Million)
Table 263 Latin America: Market, by Component, 2017-2022 (USD Million)
Table 264 Latin America: Market, by Component, 2023-2028 (USD Million)
Table 265 Latin America: Market, by Model Type, 2017-2022 (USD Million)
Table 266 Latin America: Market, by Model Type, 2023-2028 (USD Million)
Table 267 Latin America: Market, by Two-Factor Authentication, 2017-2022 (USD Million)
Table 268 Latin America: Market, by Two-Factor Authentication, 2023-2028 (USD Million)
Table 269 Latin America: Market, by Three-Factor Authentication, 2017-2022 (USD Million)
Table 270 Latin America: Market, by Three-Factor Authentication, 2023-2028 (USD Million)
Table 271 Latin America: Market, by End-use Industry, 2017-2022 (USD Million)
Table 272 Latin America: Market, by End-use Industry, 2023-2028 (USD Million)
Table 273 Latin America: Market, by Country, 2017-2022 (USD Million)
Table 274 Latin America: Market, by Country, 2023-2028 (USD Million)
10.6.4 Brazil
10.6.4.1 Rising Adoption of Digital Penetration and Social Media to Propel Market
Table 275 Brazil: Multi-Factor Authentication Market, by Authentication Type, 2017-2022 (USD Million)
Table 276 Brazil: Market, by Authentication Type, 2023-2028 (USD Million)
Table 277 Brazil: Market, by Component, 2017-2022 (USD Million)
Table 278 Brazil: Market, by Component, 2023-2028 (USD Million)
Table 279 Brazil: Market, by Model Type, 2017-2022 (USD Million)
Table 280 Brazil: Market, by Model Type, 2023-2028 (USD Million)
Table 281 Brazil: Market, by End-use Industry, 2017-2022 (USD Million)
Table 282 Brazil: Market, by End-use Industry, 2023-2028 (USD Million)
10.6.5 Mexico
10.6.5.1 Rising Social Media and Digital Penetration to Fuel Demand for Mfa Solutions
Table 283 Mexico: Market, by Authentication Type, 2017-2022 (USD Million)
Table 284 Mexico: Market, by Authentication Type, 2023-2028 (USD Million)
Table 285 Mexico: Market, by Component, 2017-2022 (USD Million)
Table 286 Mexico: Market, by Component, 2023-2028 (USD Million)
Table 287 Mexico: Market, by Model Type, 2017-2022 (USD Million)
Table 288 Mexico: Market, by Model Type, 2023-2028 (USD Million)
Table 289 Mexico: Market, by End-use Industry, 2017-2022 (USD Million)
Table 290 Mexico: Market, by End-use Industry, 2023-2028 (USD Million)
10.6.6 Rest of Latin America
Table 291 Rest of Latin America: Market, by Authentication Type, 2017-2022 (USD Million)
Table 292 Rest of Latin America: Market, by Authentication Type, 2023-2028 (USD Million)
Table 293 Rest of Latin America: Market, by Component, 2017-2022 (USD Million)
Table 294 Rest of Latin America: Market, by Component, 2023-2028 (USD Million)
Table 295 Rest of Latin America: Market, by Model Type, 2017-2022 (USD Million)
Table 296 Rest of Latin America: Market, by Model Type, 2023-2028 (USD Million)
Table 297 Rest of Latin America: Market, by End-use Industry, 2017-2022 (USD Million)
Table 298 Rest of Latin America: Multi-Factor Authentication Market, by End-use Industry, 2023-2028 (USD Million)

11 Competitive Landscape
11.1 Overview
11.2 Revenue Analysis of Leading Players
11.3 Market Share Analysis
Figure 33 Market Share Analysis, 2022
Table 299 Intensity of Competitive Rivalry
11.4 Historical Revenue Analysis
Figure 34 Revenue Analysis for Key Players, 2020-2022 (USD Billion)
11.5 Market Ranking of Key Players
Figure 35 Ranking of Key Players
11.6 Company Evaluation Matrix for Key Players
11.6.1 Definition and Methodology
11.6.2 Stars
11.6.3 Emerging Leaders
11.6.4 Pervasive Players
11.6.5 Participants
11.7 Competitive Benchmarking for Key Players
11.7.1 Overall Company Footprint
Figure 36 Company Evaluation Matrix for Key Players, 2023
11.8 Company Evaluation Matrix for Startups/SMEs
Table 300 List of Startups/SMEs
11.8.1 Definition and Methodology
11.8.2 Progressive Companies
11.8.3 Responsive Companies
11.8.4 Dynamic Companies
11.8.5 Starting Blocks
Figure 37 Company Evaluation Matrix for Startups/SMEs, 2023
11.9 Global Snapshots of Key Market Players and Their Headquarters
Figure 38 Regional Snapshot
11.10 Valuation and Financial Metrics of Vendors
Figure 39 Valuation and Financial Metrics of Multi-Factor Authentication Vendors
11.11 Competitive Scenario
Table 301 Market: Product Launches, 2021-2023
Table 302 Multi-Factor Authentication Market: Deals, 2021-2023

12 Company Profiles
(Business Overview, Products Offered, Recent Developments, Analyst's View Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats) *
12.1 Key Players
12.1.1 Microsoft
Table 303 Microsoft: Company Overview
Figure 40 Microsoft: Company Snapshot
Table 304 Microsoft: Products/Solutions/Services Offered
Table 305 Microsoft: Product Launches
Table 306 Microsoft: Deals
12.1.2 Thales Group
Table 307 Thales Group: Company Overview
Figure 41 Thales Group: Company Snapshot
Table 308 Thales Group: Products/Solutions/Services Offered
Table 309 Thales Group: Product Launches
Table 310 Thales Group: Deals
12.1.3 Okta
Table 311 Okta: Company Overview
Figure 42 Okta: Company Snapshot
Table 312 Okta: Products/Solutions/Services Offered
Table 313 Okta: Product Launches
Table 314 Okta: Deals
12.1.4 Broadcom
Table 315 Broadcom: Company Overview
Figure 43 Broadcom: Company Snapshot
Table 316 Broadcom: Products/Solutions/Services Offered
Table 317 Broadcom: Deals
12.1.5 Onespan
Table 318 Onespan: Company Overview
Figure 44 Onespan: Company Snapshot
Table 319 Onespan: Products/Solutions/Services Offered
Table 320 Onespan: Product Launches
Table 321 Onespan: Deals
12.1.6 Micro Focus
Table 322 Micro Focus: Company Overview
Table 323 Micro Focus: Products/Solutions/Services Offered
Table 324 Micro Focus: Deals
12.1.7 Hid Global
Table 325 Hid Global: Company Overview
Table 326 Hid Global: Products/Solutions/Services Offered
Table 327 Hid Global: Product Launches
Table 328 Hid Global: Deals
12.1.8 Cisco
Table 329 Cisco: Company Overview
Figure 45 Cisco: Company Snapshot
Table 330 Cisco: Products/Solutions/Services Offered
Table 331 Cisco: Product Launches
Table 332 Cisco: Deals
12.1.9 Ping Identity
Table 333 Ping Identity: Company Overview
Table 334 Ping Identity: Products/Solutions/Services Offered
Table 335 Ping Identity: Product Launches
Table 336 Ping Identity: Deals
12.1.10 Rsa Security
Table 337 Rsa Security: Company Overview
Table 338 Rsa Security: Products/Solutions/Services Offered
Table 339 Rsa Security: Deals
12.1.11 Eset
12.1.12 Yubico
12.1.13 Forgerock
12.1.14 Cyberark
12.1.15 Onelogin
12.1.16 Secureauth
12.1.17 Oracle
12.1.18 Salesforce
12.2 Other Key Players
12.2.1 Secret Double Octopus
12.2.2 Silverfort
12.2.3 Trusona
12.2.4 Fusionauth
12.2.5 Hypr
12.2.6 Keyless
12.2.7 Luxchain
*Details on Business Overview, Products Offered, Recent Developments, Analyst's View, Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats Might Not be Captured in Case of Unlisted Companies.

13 Adjacent Markets
13.1 Introduction to Adjacent Markets
Table 340 Adjacent Markets and Forecasts
13.2 Limitations
13.3 Adjacent Markets
13.3.1 Identity and Access Management Market
Table 341 Identity and Access Management Market, by Offering, 2017-2022 (USD Million)
Table 342 Identity and Access Management Market, by Offering, 2023-2028 (USD Million)
Table 343 Identity and Access Management Market, by Solution, 2017-2022 (USD Million)
Table 344 Identity and Access Management Market, by Solution, 2023-2028 (USD Million)
13.3.2 Digital Identity Solutions Market
Table 345 Digital Identity Solutions Market, by Offering, 2017-2022 (USD Million)
Table 346 Digital Identity Solutions Market, by Offering, 2023-2028 (USD Million)
Table 347 Digital Identity Solutions Market, by Solution Type, 2017-2022 (USD Million)
Table 348 Digital Identity Solutions Market, by Solution Type, 2023-2028 (USD Million)

14 Appendix
14.1 Discussion Guide

Executive Summary

Companies Mentioned

  • Broadcom
  • Cisco
  • Cyberark
  • Eset
  • Forgerock
  • Fusionauth
  • Hid Global
  • Hypr
  • Keyless
  • Luxchain
  • Micro Focus
  • Microsoft
  • Okta
  • Onelogin
  • Onespan
  • Oracle
  • Ping Identity
  • Rsa Security
  • Salesforce
  • Secret Double Octopus
  • Secureauth
  • Silverfort
  • Thales Group
  • Trusona
  • Yubico

Table Information

Report AttributeDetails
No. of Pages286
PublishedOctober 2023
Forecast Period2023 - 2028
Estimated Market Value ( USD ) in 2023 $ 15.2 Billion
Forecasted Market Value ( USD ) by 2028 $ 34.8 Billion
Compound Annual Growth Rate18.0%
Regions CoveredGlobal
No. of Companies Mentioned25

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About the Multifactor Authentication Market

The Multifactor Authentication (MFA) market is a subset of the IT Security industry. It is focused on providing additional layers of security to protect user accounts and data from unauthorized access. MFA solutions typically require users to provide two or more pieces of evidence to prove their identity, such as a password, a biometric scan, or a one-time code sent to a mobile device. This makes it more difficult for attackers to gain access to accounts, as they would need to have multiple pieces of information. MFA solutions are becoming increasingly popular as organizations look to strengthen their security posture. They are often used in conjunction with other security measures, such as encryption and access control, to provide a comprehensive security solution. Some companies in the MFA market include Auth0, Duo Security, Okta, and Microsoft. Show Less Read more

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