Global Multi-factor Authentication Market 2023-2027
Technavio has been monitoring the multi-factor authentication market and it is poised to grow by $20806.45 million during 2023-2027, accelerating at a CAGR of 21.41% during the forecast period. Our report on the multi-factor authentication market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by an increase in the volume of online transactions, high-level security provided by hardware OTP tokens, and adherence to compliance mandates.
Technavio's multi-factor authentication market is segmented as below:
By Geographical Landscape
- North America
- South America
- Middle East and Africa
This study identifies the introduction of out-of-band (OOB) authentication as one of the prime reasons driving the multi-factor authentication market growth during the next few years. Also, the emergence of cloud-based multi-factor authentication and increased adoption of unified platforms for authentication purposes will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters. Our report on the multi-factor authentication market covers the following areas:
- Multi-factor authentication market sizing
- Multi-factor authentication market forecast
- Multi-factor authentication market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading multi-factor authentication market vendors that include Beyond Identity Inc., Broadcom Inc., Duo Security Inc., Entrust Corp., FEITIAN Technologies Co. Ltd., ForgeRock Inc., Frontegg, Fujitsu Ltd., FusionAuth, HID Global Corp., Microsoft Corp., NEC Corp., Okta Inc., OneSpan Inc., Quest Software Inc., RSA Security LLC, SecureAuth Corp., Thales, TransUnion, and Yubico AB. Also, the multi-factor authentication market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.