Multi-factor authentication is an emerging category of the identity access management that involves use of multiple methods of authentication to verify a user’s identity. Authentication of user identity ensures secure online transactions, log on to online services, and access to corporate resources. Compromised credentials are the main cause of data breaches. Multi-factor authentication is used by organizations to implement an additional layer of security that requires users to authenticate via knowledge, possession, and inherence factors to gain access to corporate and social networks.
There is an increasing concern about data privacy across the globe. Numerous countries have introduced countermeasures by formulating regulations like HIPAA for the healthcare sector and the Gramm-Leach-Bliley Act (GLBA), Basel II, PCI DSS, and SOX for the BFSI sector. These regulations offer complete guidelines related to end-user authentication that are essential before granting users access to confidential data. Organizations need to comply with the regulations specific to their regions and the non-compliance with rules can invite penalties. The stringency of the regulatory requirements for data security will contribute to the market’s growth during the forecast period.
In 2018, the global Multi-factor Authentication market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of xx% during 2019-2025.
This report focuses on the global Multi-factor Authentication status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Multi-factor Authentication development in United States, Europe and China.
The key players covered in this study
VASCO Data Security International
Early Warning Services
Market segment by Type, the product can be split into
Multi-factor authentication products
Multi-factor authentication services
Market segment by Application, split into
Hardware OTP token
Smart Card-based authentication
Market segment by Regions/Countries, this report covers
Central & South America
The study objectives of this report are:
To analyze global Multi-factor Authentication status, future forecast, growth opportunity, key market and key players.
To present the Multi-factor Authentication development in United States, Europe and China.
To strategically profile the key players and comprehensively analyze their development plan and strategies.
To define, describe and forecast the market by product type, market and key regions.
In this study, the years considered to estimate the market size of Multi-factor Authentication are as follows:
History Year: 2014-2018
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025
For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.