Press release
Escalating Cyber Threats Boost Growth in the Multi-Factor Authentication Market: Forecast for 2024-2029
As cyber threats proliferate, the multi-factor authentication market sees substantial growth, with forecasts projecting rapid expansion.
What Is The Projected Market Size Of The Global Multi-Factor Authentication Market And Its Growth Rate?
The global multi-factor authentication market has experienced substantial growth in recent years and is projected to grow exponentially in the coming years:
• Historical Period: Increased cyberattacks, vendor innovations, MFA integration, industry-specific applications and legacy security vulnerabilities attributed to its growth from $17.4 billion in 2024 to $20.08 billion in 2025 at a CAGR of 15.4%.
• Forecast Period: Factors such as integration with IAM solutions, industry-specific applications, biometric adoption growth, continuous authentication demand, and enhanced user experience are projected to grow the market to $41.59 billion in 2029 at a CAGR of 20.0%.
What Is Driving The Growth In The Multi-Factor Authentication Market?
A significant driver of the multi-factor authentication market's growth is the rise in data breaches and cyberattacks. Cyber data breaches, marked by unauthorized access to a computer system or network to obtain sensitive personal and financial information, have prompted the need for multi-factor authentication. This need includes endpoint detection and response (EDR), biometric technology, cloud security, code audits, and embedded system security assessments. For instance, the number of known records breached relentlessly increased to a staggering 29,552,913,557 in January 2024 from the 2,306,294,320 records breached in December 2023, signifying the security risks present.
Request A Free Sample Copy:
https://www.thebusinessresearchcompany.com/sample.aspx?id=8333&type=smp
Who Are the Key Players Driving Multi-Factor Authentication Market Growth?
Prominent companies operating in the multi-factor authentication market include:
• Microsoft Corporation
• Broadcom Inc.
• OneSpan Inc.
• Okta Inc.
• Thales Group
• Dell Technologies Inc.
• Cisco Systems Inc.
• HID Global Corporation
• Yubico AB
• Micro Focus, OneLogin Inc.
What Are The Key Trends In The Multi-Factor Authentication Market?
Key trends in the multi-factor authentication market include:
• Escalating cyber threats
• Expansion of the remote workforce
• Implementation of zero trust security models
• Advancements in authentication technologies
• Increased data privacy concerns
What Are The Segments Of The Global Multi-Factor Authentication Market?
The multi-factor authentication market is segmented by:
1) Component: Hardware, Software, Services
2) Model Type: Two factor, Three Factor, Four Factor, Five Factor
3) Authentication Type: Password, Passwordless
4) Organization: Large, SME's
5) Vertical: BFSI, Government, Travel And Immigration, Military And Defense, Commercial Security, Healthcare, IT, Telecommunication, Media And Entertainment, Other Verticals
Which Region Leads The Multi-Factor Authentication Market?
In 2024, North America led the multi-factor authentication market. The multi-factor authentication market covers Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Pre-book the Report for Swift Delivery:
https://www.thebusinessresearchcompany.com/report/multi-factor-authentication-global-market-report
What Is Covered In The Multi-Factor Authentication Market Global Market Report?
- Market Size Analysis: Analyze the Multi-Factor Authentication Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Multi-Factor Authentication Market for effective categorization.
- Key Player Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Multi-Factor Authentication Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Multi-Factor Authentication Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
Request Customization for This Report: https://www.thebusinessresearchcompany.com/Customise?id=8333&type=smp
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
What Is The Projected Market Size Of The Global Multi-Factor Authentication Market And Its Growth Rate?
The global multi-factor authentication market has experienced substantial growth in recent years and is projected to grow exponentially in the coming years:
• Historical Period: Increased cyberattacks, vendor innovations, MFA integration, industry-specific applications and legacy security vulnerabilities attributed to its growth from $17.4 billion in 2024 to $20.08 billion in 2025 at a CAGR of 15.4%.
• Forecast Period: Factors such as integration with IAM solutions, industry-specific applications, biometric adoption growth, continuous authentication demand, and enhanced user experience are projected to grow the market to $41.59 billion in 2029 at a CAGR of 20.0%.
What Is Driving The Growth In The Multi-Factor Authentication Market?
A significant driver of the multi-factor authentication market's growth is the rise in data breaches and cyberattacks. Cyber data breaches, marked by unauthorized access to a computer system or network to obtain sensitive personal and financial information, have prompted the need for multi-factor authentication. This need includes endpoint detection and response (EDR), biometric technology, cloud security, code audits, and embedded system security assessments. For instance, the number of known records breached relentlessly increased to a staggering 29,552,913,557 in January 2024 from the 2,306,294,320 records breached in December 2023, signifying the security risks present.
Request A Free Sample Copy:
https://www.thebusinessresearchcompany.com/sample.aspx?id=8333&type=smp
Who Are the Key Players Driving Multi-Factor Authentication Market Growth?
Prominent companies operating in the multi-factor authentication market include:
• Microsoft Corporation
• Broadcom Inc.
• OneSpan Inc.
• Okta Inc.
• Thales Group
• Dell Technologies Inc.
• Cisco Systems Inc.
• HID Global Corporation
• Yubico AB
• Micro Focus, OneLogin Inc.
What Are The Key Trends In The Multi-Factor Authentication Market?
Key trends in the multi-factor authentication market include:
• Escalating cyber threats
• Expansion of the remote workforce
• Implementation of zero trust security models
• Advancements in authentication technologies
• Increased data privacy concerns
What Are The Segments Of The Global Multi-Factor Authentication Market?
The multi-factor authentication market is segmented by:
1) Component: Hardware, Software, Services
2) Model Type: Two factor, Three Factor, Four Factor, Five Factor
3) Authentication Type: Password, Passwordless
4) Organization: Large, SME's
5) Vertical: BFSI, Government, Travel And Immigration, Military And Defense, Commercial Security, Healthcare, IT, Telecommunication, Media And Entertainment, Other Verticals
Which Region Leads The Multi-Factor Authentication Market?
In 2024, North America led the multi-factor authentication market. The multi-factor authentication market covers Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Pre-book the Report for Swift Delivery:
https://www.thebusinessresearchcompany.com/report/multi-factor-authentication-global-market-report
What Is Covered In The Multi-Factor Authentication Market Global Market Report?
- Market Size Analysis: Analyze the Multi-Factor Authentication Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Multi-Factor Authentication Market for effective categorization.
- Key Player Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Multi-Factor Authentication Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Multi-Factor Authentication Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
Request Customization for This Report: https://www.thebusinessresearchcompany.com/Customise?id=8333&type=smp
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage
to this press release on woodPRI. woodPRI disclaims liability for any content contained in
this release.
Recommend
/newsMicroencapsulation Market Deep Analysis on Key Players - Dow Corning, Encapsys, Syngenta Crop Protection, Evonik Industries, 3M and Bayer
Market Study Report Adds Global Microencapsulation Market Size, Status and Forecast 2024 added to its database. The report provides key statistics on the current state of the industry and other analytical data to understand the market.
Extensive research is required for choosing the appropriate cor...
/newsGermany Airbag Market Size 2023: Global Share, Industry And Report Analysis By 2030 | Hyundai Mobis Co., Ltd. Key Safety Systems, Inc. Robert Bosch GmbH
Germany airbag market is expected to grow at a CAGR of around 6% during the forecast period. Germany Airbag Market research report refers to gathering and analyzing significant market data serve as best medium for various industry players to launch novel product or service. It is vital for key firms...
/newsSecurities Brokerages And Stock Exchanges Market Outlook 2021: Big Things are Happening
A new intelligence report released by HTF MI with title "Global Securities Brokerages And Stock Exchanges Market Survey & Outlook" is designed covering micro level of analysis by Insurers and key business segments, offerings and sales channels. The Global Securities Brokerages And Stock Exchange...
/newsRenewable Chemicals Market Emerging Trends and Competitive Landscape Forecast to 2028
The renewable chemicals market was valued at US$ 80,566.30 million in 2021 and is projected to reach US$ 1,76,750.76 million by 2028 it is expected to grow at a CAGR of 11.9% from 2021 to 2028. The research report focuses on the current market trends, opportunities, future potential of the market, a...
/newsHow Coronavirus is Impacting Cold Brew Coffee, Global Market Volume Analysis, Size, Share and Key Trends 2020-2026
"Market Latest Research Report 2020:
Los Angles United States, February 2020: The Cold Brew Coffee market has been garnering remarkable momentum in the recent years. The steadily escalating demand due to improving purchasing power is projected to bode well for the global market. QY Research's lates...
/newsCorporate E-Learning Market - Global Industry Size, Share, Key Players Analysis that are Infor, SkillSoft Corporation, Adrenna, CERTPOINT Systems and others with Regional Forecast to 2022
Overview:
E-Learning is used to enhance the learning procedures for newer job requirements and to make employees sound about the internal and external changes in the market and respective organizations. This method has created considerable differences in the ways of training and developing employee...
