April 24, 2024
ICT

Multi-factor Authentication Market Size to Attain USD 74.73 Bn By 2033

The global multi-factor authentication market size was estimated to be around US$ 14.34 billion in 2023 and is projected to reach US$ 74.73 billion by 2033, indicating a CAGR of 18% from 2024 to 2033.

Key Takeaways

  • Asia-Pacific contributed more than 40% of market share in 2023.
  • North America is estimated to expand at the fastest CAGR between 2024 and 2033.
  • By authentication type, the password authentication segment held the largest market share of 57% in 2023.
  • By authentication type, the password-less authentication segment is anticipated to grow at a remarkable CAGR of 19.16% between 2024 and 2033.
  • By model type, the multi-factor with three-factor authentication segment generated over 29% of the market share in 2023.
  • By model type, the multi-factor with four-factor authentication segment is expected to expand at the fastest CAGR over the projected period.
  • By component, the hardware segment generated over 45% of the market share in 2023.
  • By component, the services segment is expected to expand at the fastest CAGR over the projected period.
  • By end user, the commercial security segment generated over 26% of the market share in 2023.
  • By end user, the telecommunication segment is expected to expand at the fastest CAGR over the projected period.

Multi-factor Authentication Market Size 2024 To 2033

The market research report on the multi-factor authentication market provides a comprehensive analysis of various key aspects. It includes the definition, classification, and application of multi-factor authentication products. The report examines the development trends, competitive landscape, and industrial chain structure within the industry. Furthermore, it presents an overview of the industry, analyzes national policies and planning, and offers insights into the latest market dynamics and opportunities at a global level.

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Multi-factor Authentication Market Scope

Report Coverage Details
Growth Rate from 2024 to 2033 CAGR of 18%
Global Market Size in 2023 USD 14.34 Billion
Global Market Size by 2033 USD 74.73 Billion
Asia-Pacific Market Size in 2023 USD 5.74 Billion
Asia-Pacific Market Size by 2033 USD 30.40 Billion
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered By Authentication Type, By Model Type, By Component, and By End User
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Read More: Unified Communication as a Service Market Size, Trend, Report 2033

The report presents the volume and value-based market size for the base year 2022 and forecasts the market’s growth between 2023 and 2032. It estimates market numbers based on product form and application, providing size and forecast for each application segment in both global and regional markets.

Focusing on the global multi-factor authentication market, the report highlights its status, future forecasts, growth opportunities, key market players, and key market regions such as the United States, Europe, and China. The study aims to present the development of the multi-factor authentication market by considering factors like Year-on-Year (Y-o-Y) growth, in addition to Compound Annual Growth Rate (CAGR). This approach enables a better understanding of market certainty and the identification of lucrative opportunities.

Regarding production, the report investigates the capacity, production, value, ex-factory price, growth rate, and market share of major manufacturers, regions, and product types. On the consumption side, the report focuses on the regional consumption of multi-factor authentication products across different countries and applications.

Buyers of the report gain access to verified market figures, including global market size in terms of revenue and volume. The report provides reliable estimations and calculations for global revenue and volume by product type from 2023 to 2032. It also includes accurate figures for production capacity and production by region during the same period.

The research includes product parameters, production processes, cost structures, and data classified by region, technology, and application. Furthermore, it conducts SWOT analysis and investment feasibility studies for new projects.

This in-depth research report offers valuable insights into the multi-factor authentication market. It employs an objective and fair approach to analyze industry trends, supporting customer competition analysis, development planning, and investment decision-making. The project received support and assistance from technicians and marketing personnel across various links in the industry chain.

The competitive landscape section of the report provides detailed information on multi-factor authentication market competitors. It includes company overviews, financials, revenue generation, market potential, research and development investments, new market initiatives, global presence, production sites, production capacities, strengths and weaknesses, product launches, product range, and application dominance. However, the data points provided only focus on the companies’ activities related to the Multi-factor authentication market.

Prominent players in the market are expected to face tough competition from new entrants. Key players are targeting acquisitions of startup companies to maintain their dominance. The report

Reasons to Purchase this Report:

  • Comprehensive market segmentation analysis incorporating qualitative and quantitative research, considering the impact of economic and policy factors.
  • In-depth regional and country-level analysis, examining the demand and supply dynamics that influence market growth.
  • Market size in USD million and volume in million units provided for each segment and sub-segment.
  • Detailed competitive landscape, including market share of major players, recent projects, and strategies implemented over the past five years.
  • Comprehensive company profiles encompassing product offerings, key financial information, recent developments, SWOT analysis, and employed strategies by major market players.

Multi-factor Authentication Market Companies

  • RSA Security
  • Symantec Corporation
  • Gemalto (Thales Group)
  • Duo Security (Cisco)
  • Okta, Inc.
  • HID Global
  • OneLogin, Inc.
  • Ping Identity
  • IBM Corporation
  • Microsoft Corporation
  • Entrust Datacard Corporation
  • Authy Inc.
  • NEC Corporation
  • CyberArk Software Ltd.
  • SecureAuth Corporation

Segments Covered in the Report

By Authentication Type

  • Password authentication
  • Password less authentication

By Model Type

  • Smart card with pin
  • Multi-factor with three-factor authentication
  • Multi-factor with four-factor authentication
  • Multi-factor with five-factor authentication

By Component

  • Solutions
  • Hardware
  • Services

By End User

  • BFSI
  • Government
  • Travel and Immigration
  • Military and Defense
  • Commercial Security
  • IT
  • Telecommunication
  • Healthcare
  • Media and Entertainment
  • Other

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology (Premium Insights)

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Multi-factor Authentication Market 

5.1. COVID-19 Landscape: Multi-factor Authentication Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Multi-factor Authentication Market, By Authentication Type

8.1. Multi-factor Authentication Market, by Authentication Type, 2024-2033

8.1.1. Password authentication

8.1.1.1. Market Revenue and Forecast (2021-2033)

8.1.2. Password less authentication

8.1.2.1. Market Revenue and Forecast (2021-2033)

Chapter 9. Global Multi-factor Authentication Market, By Model Type

9.1. Multi-factor Authentication Market, by Model Type, 2024-2033

9.1.1. Smart card with pin

9.1.1.1. Market Revenue and Forecast (2021-2033)

9.1.2. Multi-factor with three-factor authentication

9.1.2.1. Market Revenue and Forecast (2021-2033)

9.1.3. Multi-factor with four-factor authentication

9.1.3.1. Market Revenue and Forecast (2021-2033)

9.1.4. Multi-factor with five-factor authentication

9.1.4.1. Market Revenue and Forecast (2021-2033)

Chapter 10. Global Multi-factor Authentication Market, By Component 

10.1. Multi-factor Authentication Market, by Component, 2024-2033

10.1.1. Solutions

10.1.1.1. Market Revenue and Forecast (2021-2033)

10.1.2. Hardware

10.1.2.1. Market Revenue and Forecast (2021-2033)

10.1.3. Services

10.1.3.1. Market Revenue and Forecast (2021-2033)

Chapter 11. Global Multi-factor Authentication Market, By End User 

11.1. Multi-factor Authentication Market, by End User, 2024-2033

11.1.1. BFSI

11.1.1.1. Market Revenue and Forecast (2021-2033)

11.1.2. Government

11.1.2.1. Market Revenue and Forecast (2021-2033)

11.1.3. Travel and Immigration

11.1.3.1. Market Revenue and Forecast (2021-2033)

11.1.4. Military and Defense

11.1.4.1. Market Revenue and Forecast (2021-2033)

11.1.5. Commercial Security

11.1.5.1. Market Revenue and Forecast (2021-2033)

11.1.6. IT

11.1.6.1. Market Revenue and Forecast (2021-2033)

11.1.7. Telecommunication

11.1.7.1. Market Revenue and Forecast (2021-2033)

11.1.8. Healthcare

11.1.8.1. Market Revenue and Forecast (2021-2033)

11.1.9. Media and Entertainment

11.1.9.1. Market Revenue and Forecast (2021-2033)

11.1.10. Other

11.1.10.1. Market Revenue and Forecast (2021-2033)

Chapter 12. Global Multi-factor Authentication Market, Regional Estimates and Trend Forecast

12.1. North America

12.1.1. Market Revenue and Forecast, by Authentication Type (2021-2033)

12.1.2. Market Revenue and Forecast, by Model Type (2021-2033)

12.1.3. Market Revenue and Forecast, by Component (2021-2033)

12.1.4. Market Revenue and Forecast, by End User (2021-2033)

12.1.5. U.S.

12.1.5.1. Market Revenue and Forecast, by Authentication Type (2021-2033)

12.1.5.2. Market Revenue and Forecast, by Model Type (2021-2033)

12.1.5.3. Market Revenue and Forecast, by Component (2021-2033)

12.1.5.4. Market Revenue and Forecast, by End User (2021-2033)

12.1.6. Rest of North America

12.1.6.1. Market Revenue and Forecast, by Authentication Type (2021-2033)

12.1.6.2. Market Revenue and Forecast, by Model Type (2021-2033)

12.1.6.3. Market Revenue and Forecast, by Component (2021-2033)

12.1.6.4. Market Revenue and Forecast, by End User (2021-2033)

12.2. Europe

12.2.1. Market Revenue and Forecast, by Authentication Type (2021-2033)

12.2.2. Market Revenue and Forecast, by Model Type (2021-2033)

12.2.3. Market Revenue and Forecast, by Component (2021-2033)

12.2.4. Market Revenue and Forecast, by End User (2021-2033)

12.2.5. UK

12.2.5.1. Market Revenue and Forecast, by Authentication Type (2021-2033)

12.2.5.2. Market Revenue and Forecast, by Model Type (2021-2033)

12.2.5.3. Market Revenue and Forecast, by Component (2021-2033)

12.2.5.4. Market Revenue and Forecast, by End User (2021-2033)

12.2.6. Germany

12.2.6.1. Market Revenue and Forecast, by Authentication Type (2021-2033)

12.2.6.2. Market Revenue and Forecast, by Model Type (2021-2033)

12.2.6.3. Market Revenue and Forecast, by Component (2021-2033)

12.2.6.4. Market Revenue and Forecast, by End User (2021-2033)

12.2.7. France

12.2.7.1. Market Revenue and Forecast, by Authentication Type (2021-2033)

12.2.7.2. Market Revenue and Forecast, by Model Type (2021-2033)

12.2.7.3. Market Revenue and Forecast, by Component (2021-2033)

12.2.7.4. Market Revenue and Forecast, by End User (2021-2033)

12.2.8. Rest of Europe

12.2.8.1. Market Revenue and Forecast, by Authentication Type (2021-2033)

12.2.8.2. Market Revenue and Forecast, by Model Type (2021-2033)

12.2.8.3. Market Revenue and Forecast, by Component (2021-2033)

12.2.8.4. Market Revenue and Forecast, by End User (2021-2033)

12.3. APAC

12.3.1. Market Revenue and Forecast, by Authentication Type (2021-2033)

12.3.2. Market Revenue and Forecast, by Model Type (2021-2033)

12.3.3. Market Revenue and Forecast, by Component (2021-2033)

12.3.4. Market Revenue and Forecast, by End User (2021-2033)

12.3.5. India

12.3.5.1. Market Revenue and Forecast, by Authentication Type (2021-2033)

12.3.5.2. Market Revenue and Forecast, by Model Type (2021-2033)

12.3.5.3. Market Revenue and Forecast, by Component (2021-2033)

12.3.5.4. Market Revenue and Forecast, by End User (2021-2033)

12.3.6. China

12.3.6.1. Market Revenue and Forecast, by Authentication Type (2021-2033)

12.3.6.2. Market Revenue and Forecast, by Model Type (2021-2033)

12.3.6.3. Market Revenue and Forecast, by Component (2021-2033)

12.3.6.4. Market Revenue and Forecast, by End User (2021-2033)

12.3.7. Japan

12.3.7.1. Market Revenue and Forecast, by Authentication Type (2021-2033)

12.3.7.2. Market Revenue and Forecast, by Model Type (2021-2033)

12.3.7.3. Market Revenue and Forecast, by Component (2021-2033)

12.3.7.4. Market Revenue and Forecast, by End User (2021-2033)

12.3.8. Rest of APAC

12.3.8.1. Market Revenue and Forecast, by Authentication Type (2021-2033)

12.3.8.2. Market Revenue and Forecast, by Model Type (2021-2033)

12.3.8.3. Market Revenue and Forecast, by Component (2021-2033)

12.3.8.4. Market Revenue and Forecast, by End User (2021-2033)

12.4. MEA

12.4.1. Market Revenue and Forecast, by Authentication Type (2021-2033)

12.4.2. Market Revenue and Forecast, by Model Type (2021-2033)

12.4.3. Market Revenue and Forecast, by Component (2021-2033)

12.4.4. Market Revenue and Forecast, by End User (2021-2033)

12.4.5. GCC

12.4.5.1. Market Revenue and Forecast, by Authentication Type (2021-2033)

12.4.5.2. Market Revenue and Forecast, by Model Type (2021-2033)

12.4.5.3. Market Revenue and Forecast, by Component (2021-2033)

12.4.5.4. Market Revenue and Forecast, by End User (2021-2033)

12.4.6. North Africa

12.4.6.1. Market Revenue and Forecast, by Authentication Type (2021-2033)

12.4.6.2. Market Revenue and Forecast, by Model Type (2021-2033)

12.4.6.3. Market Revenue and Forecast, by Component (2021-2033)

12.4.6.4. Market Revenue and Forecast, by End User (2021-2033)

12.4.7. South Africa

12.4.7.1. Market Revenue and Forecast, by Authentication Type (2021-2033)

12.4.7.2. Market Revenue and Forecast, by Model Type (2021-2033)

12.4.7.3. Market Revenue and Forecast, by Component (2021-2033)

12.4.7.4. Market Revenue and Forecast, by End User (2021-2033)

12.4.8. Rest of MEA

12.4.8.1. Market Revenue and Forecast, by Authentication Type (2021-2033)

12.4.8.2. Market Revenue and Forecast, by Model Type (2021-2033)

12.4.8.3. Market Revenue and Forecast, by Component (2021-2033)

12.4.8.4. Market Revenue and Forecast, by End User (2021-2033)

12.5. Latin America

12.5.1. Market Revenue and Forecast, by Authentication Type (2021-2033)

12.5.2. Market Revenue and Forecast, by Model Type (2021-2033)

12.5.3. Market Revenue and Forecast, by Component (2021-2033)

12.5.4. Market Revenue and Forecast, by End User (2021-2033)

12.5.5. Brazil

12.5.5.1. Market Revenue and Forecast, by Authentication Type (2021-2033)

12.5.5.2. Market Revenue and Forecast, by Model Type (2021-2033)

12.5.5.3. Market Revenue and Forecast, by Component (2021-2033)

12.5.5.4. Market Revenue and Forecast, by End User (2021-2033)

12.5.6. Rest of LATAM

12.5.6.1. Market Revenue and Forecast, by Authentication Type (2021-2033)

12.5.6.2. Market Revenue and Forecast, by Model Type (2021-2033)

12.5.6.3. Market Revenue and Forecast, by Component (2021-2033)

12.5.6.4. Market Revenue and Forecast, by End User (2021-2033)

Chapter 13. Company Profiles

13.1. RSA Security

13.1.1. Company Overview

13.1.2. Product Offerings

13.1.3. Financial Performance

13.1.4. Recent Initiatives

13.2. Symantec Corporation

13.2.1. Company Overview

13.2.2. Product Offerings

13.2.3. Financial Performance

13.2.4. Recent Initiatives

13.3. Gemalto (Thales Group)

13.3.1. Company Overview

13.3.2. Product Offerings

13.3.3. Financial Performance

13.3.4. Recent Initiatives

13.4. Duo Security (Cisco)

13.4.1. Company Overview

13.4.2. Product Offerings

13.4.3. Financial Performance

13.4.4. Recent Initiatives

13.5. Okta, Inc.

13.5.1. Company Overview

13.5.2. Product Offerings

13.5.3. Financial Performance

13.5.4. Recent Initiatives

13.6. HID Global

13.6.1. Company Overview

13.6.2. Product Offerings

13.6.3. Financial Performance

13.6.4. Recent Initiatives

13.7. OneLogin, Inc.

13.7.1. Company Overview

13.7.2. Product Offerings

13.7.3. Financial Performance

13.7.4. Recent Initiatives

13.8. Ping Identity

13.8.1. Company Overview

13.8.2. Product Offerings

13.8.3. Financial Performance

13.8.4. Recent Initiatives

13.9. IBM Corporation

13.9.1. Company Overview

13.9.2. Product Offerings

13.9.3. Financial Performance

13.9.4. Recent Initiatives

13.10. Microsoft Corporation

13.10.1. Company Overview

13.10.2. Product Offerings

13.10.3. Financial Performance

13.10.4. Recent Initiatives

Chapter 14. Research Methodology

14.1. Primary Research

14.2. Secondary Research

14.3. Assumptions

Chapter 15. Appendix

15.1. About Us

15.2. Glossary of Terms

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Prathamesh

I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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