The
global multi-factor authentication (MFA) market size is
expected to reach USD 17.76 billion by 2025, according to a new study by Grand
View Research, Inc., experiencing a CAGR of 15.07% during the forecast period.
Increasing implementation of BYOD and cloud-based services across enterprises,
along with the growing security regulations and mandates, is benefiting market
growth.
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.
Advancements
in biometric technologies, hardware and software applications, and cloud-based
authentication services are projected to provide extensive growth opportunities
to the market. However, issues related to cost and complexity involved in
implementing MFA solutions and the ever-changing security regulations and
compliances are expected to restrain market growth.
Browse full
research report on Multi-Factor Authentication Market: www.grandviewresearch.com/industry-analysis/multi-factor-authentication-market
Further
Key findings from the study suggest:
- North America and Europe were the key revenue
contributors in 2017. The key factors contributing to the growth of the
regions are advanced infrastructure and accelerated adoption of smart
devices
- The two factor authentication model will
continue to dominate the market until 2025, representing more than 75.0%
of the overall revenue.
- The three factor authentication model is
anticipated to exhibit the highest CAGR of close to 17.0% over the
forecast period
- The BFSI sector will be the most prominent
application segment during the forecast period, followed by retail and
e-commerce.
- The Asia Pacific market is estimated to post a
CAGR of about 19.0% over the forecast period
- Increasing investments in cloud technologies,
BYOD, and mobility solutions are poised to provide a fillip to the
multi-factor authentication market
- The key market players include RSA Security,
Symantec Corporation, CA Technologies, Gemalto, Safran, and Vasco Data
Security International.
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has segmented the multi-factor authentication market
based on model, application, and region:
Multi-Factor
Authentication Model Outlook (Revenue, USD Million, 2014 - 2025)
- Two
Factor Authentication
- Three
Factor Authentication
- Four
Factor Authentication
- Five
Factor Authentication
Multi-Factor
Authentication Application Outlook (Revenue, USD Million, 2014 - 2025)
- BFSI
- Government
& Defense
- Healthcare
- Travel
& Immigration
- Retail
& E-commerce
- Others
Multi-Factor
Authentication Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia
Pacific
- China
- India
- Japan
- Rest of
the World (RoW)
- Brazil
- Mexico
- Others
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-multi-factor-authentication-mfa-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
No comments:
Post a Comment