Multifactor Authentication Market Analysis by Key Manufacturers, And Various End-Use Industries

Multifactor Authentication Market: Snapshot

The growing need for security across digital platforms has generated humongous demand within the global multi-factor authentication market. However, digital platforms alone do not account for expansion within this market. Several physical security systems also deploy multi-factor authentication nodes to protect key assets, people, and equipment. Therefore, the growing relevance of multi-factor authentication within various industries shall fetch key revenues for the market vendors. The essence of physical and cyber security lies in creating multiple layers to protect the concerned assets. Therefore, multi-factor authentication has emerged as a launch pad for fostering greater security across various industries. The total volume of revenues within the global multi-factor authentication market is set to touch new heights in the coming times.

Get sample copy of at:   https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1400

Transparency Market Research (TMR), in one of its reports, finds that the global multi-factor authentication market would accumulate revenues worth US$20,444.9 mn by 2025, growing from a value of US$ 4,829.2 mn in 2016. The global multi-factor authentication market is set to expand at a boisterous CAGR of 17.7% over the period between 2017 and 2025. Use of multi-factor authentication across corporate offices and government systems has given a thrust to market growth. Moreover, need for launching mass security drives across a range of industries has shifted the focus toward multi-factor authentication models. Growth of e-commerce platforms has played a direct role in the growth of this market.

Supremacy of Multi-Factor Authentication over Two-Factor Authentication

Despite the stellar utility of two-factor authentication, it has failed multiple security platforms and has been under flak from several analysts. For this reason, multi-factor authentication services are expected to garner the attention of multiple players. The use of multi-factor authentication is not restricted to a particular industry. The financial sector has become a key consumer of these services, majorly due to the need to protect data and intellectual assets in this industry. Besides, the relevance of multi-factor authentication for banks and financial institutions has also gathered momentum. Mobile banking apps and platforms use multi-factor authentication to ensure security payments and transactions.

Rapid Pace of Digital Transformation

The flux of digital services in the market has helped the vendors to capitalise on new areas. Furthermore, use of multi-factor authentication has become an important part of the retail industry. The IT and telecom industry uses this mode of authentication to foster security in existing networks, and build new networks with greater resilience. Governments units are also required to tighten security of transfers across multiple units and domains. The relevance of multi-factor authentication in both, physical and abstract protection of assets, has given a thrust to market growth.

Some of the leading vendors in the global multi-factor authentication market are SecureAuth Coproration, RSA Security, Microsoft Corporation, Symantec Corporation, CA Technologies, and Vasco Data Security International Inc.

The global multi-factor authentication market is segmented by:

Authentication Models

  • Two-factor Authentication
  • Three-factor Authentication
  • Four-factor Authentication

By End-user Industry

  • BFSI
  • Government
  • Telecom & IT
  • Defense
  • Healthcare
  • Retail
  • Others

Have any query? Inquiry about report at:   https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=1400

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

Contact Us

Transparency Market Research
United States
USA – Canada Toll Free: 866-552-3453
Email: [email protected]
Website: https://www.transparencymarketresearch.com