Dallas, Texas, June 14, 2019 (GLOBE NEWSWIRE) -- By 2025, the global market for multi-factor authentication is projected to reach USD 20.41 billion. The factors that drive the multi-factor authentication market include rising financial frauds, cyber-attacks and increased usage of digital payments through smartphones and other wireless devices. Increased investments in cloud technologies, enterprise mobility and increasing use of BYOD across companies will also encourage the adoption of multi-factor authentication solutions.
The global multi-factor authentication market research report assesses market demand and scenario over the period from 2015 to 2025. The report highlights the historic trends between 2015 and 2018 and the 2019 to 2025 market forecast. The report studies both at global and country level the current status and future market prospects. The global multi-factor authentication market is segmented by model, application, and geography.
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The report also throws light on various aspects of the global multi-factor authentication industry by assessing the market using value chain analysis and technology adoption life-cycle analysis. The report covers several qualitative aspects of the multi-factor authentication in market drivers, market restraints and key industry trends. Furthermore, the report provides an in-depth assessment of the market competition with company profiles of global as well as local vendors.
The “Global Multi-Factor Authentication Market Size by Model (Two-Factor Authentication, Three-Factor Authentication, Four-Factor Authentication, and Five-Factor Authentication), by Application (Government, Healthcare, Banking, BFSI, Retail and E-commerce, and Others), Others) by Region (North America, Europe, Asia Pacific, Rest of World) and Forecast 2019 to 2025” study provides an elaborative view of historic, present and forecasted market estimates. Browse the full report@https://www.adroitmarketresearch.com/industry-reports/multi-factor-authentication-mfa-market
Based on the model of authentication, the market is segmented into- two-factor, three-factor, four-factor, and five-factor authentication. Among these, the two-factor authentication technique had the highest market share in 2018, which is about 70% of the total market share in terms of revenue. However, in the forecast period, three-factor authentication technique is anticipated to grow with the highest CAGR as it is becoming more of a mainstream option for internet security in financial companies as well as consumer-targeted businesses.
On the basis of application, the market is further divided into- government, healthcare, BFSI, retail & e-commerce, and others. In 2018, the BFSI sector had the highest market share capturing about 47% of the total market revenue. Although the market for government sector is expected to rise with a compounded annual growth rate of almost 23% during the forecast period of 2019 to 2025, owing to the rising frequency of authentication-based cyber-attacks on several governments.
Geographically, North America had the largest market share in 2018 contributing to almost USD 1.84 billion to the overall multi-factor authentication market. The region's adoption of this technology is driven by the presence of a strong regulatory framework and sustainable development policies for cybercrime reduction and data acquisition. The Asia-Pacific market is expected to grow at the highest growth rate of 24.8% during the forecast period owing to the higher consumer base and growing amount of technology penetration in developing nations of China, India, and Indonesia.
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The major market players in the global multi-factor authentication include Fujitsu Limited, HID Global Corporation, RSA Security LLC, Ping Identity Corporation, Okta Inc, Cross Match Technologies, Inc, Suprema Inc, CA Inc, Gemalto NV, and NEC Corporation.
Major points from Table of Contents:
Chapter 1 Research Methodology
Chapter 2 Executive Summary
Chapter 3 Market Outlook
Chapter 4 Global Multi-factor Authentication Market Overview, By Model
Chapter 5 Global Multi-factor Authentication Market Overview, By Application
Chapter 6 Global Multi-factor Authentication Market Overview, By Region
Chapter 7 Competitive Landscape
Chapter 8 Company Profiles
Grasp advance knowledge on Global Multi-factor Authentication Industry through in-depth Blogs, White Paper & Infographics:
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Read the in depth blog titled “Multi-Factor Authentication: Importance And Advantages” @ https://www.adroitmarketresearch.com/blogs/multi-factor-authentication-importance-and-advantages
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