Multifactor Authentication Market Growth, Share, Opportunities and Forecast by 2022

1. Multifactor Authentication Market Growth, Share, Opportunities and Forecast by 2022 “The Multifactor Authentication Market is expected to reach USD 12.51 billion by 2022, at a CAGR of 15.52% during the forecast period.” The Multifactor Authentication Market is expected to reach USD 12.51 billion by 2022, at a CAGR of 15.52% during the forecast period. Multifactor authentication allows organizations to use advanced security options which is easier for end-users, but harder for hackers. The multifactor authentication is used in several applications due to the security assurance and the benefits provided by MFA to comply with the regulatory compliances for data security. The multifactor authentication market has been segmented on the basis of model into two-factor, three- factor, four-factor, and five-factor authentication models. The two-factor authentication model has the largest market share among all other authentication model in the MFA market owing to the benefits such as improved security, increasing productivity and flexibility, lower security management cost, and building secure online transaction. The multifactor authentication market, on the basis of application, has been into banking and finance, government, travel and immigration, military and defense, commercial security, consumer electronics, healthcare, and others. The healthcare application accounted for the highest growth rate in the MFA market due to the stringent government and industry regulations and requires a highly secure infrastructure. This made the industry rely MFA solution for protecting the sensitive information and data. The security of patient information is a legal mandate for healthcare. As more and more health information becomes available electronically, more risks arise for the security of the patient information resulting into the highly deployment of MFA for the authentication process. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=877

2. RoW is expected to be the fastest-growing market for the multifactor authentication, followed by APAC during the forecast period. The market in RoW is expected to grow at the highest rate during the forecast period owing to the formulation of new regulatory compliances and the adoption of modern technologies such as cloud and IoT, which create a huge opportunity for data and information security. The market for five-factor authentication models is expected to grow at the highest rate during the forecast period The market for five-factor authentication model is expected to grow at the highest rate during the forecast period. Five-factor authentication model provides a high level of security to top secret information, which is of high importance. Also, it has a good potential in the near future, as it is a good solution for government applications such as homeland security services, access to top secret national data/files, safeguarding data, and technology in national research centers. These are the main reasons behind the adoption of five-factor authentication model. The market for the banking and finance application holds the largest market share during the forecast period The banking and finance application accounted for the largest share in the multifactor authentication market in 2016. Major factors for the growth of this market are increasing online traction and the growth of e-commerce for which secure transactions are required. Many regulatory bodies have passed a regulation for the use of multifactor authentication technology in this application. For the security of banking and financial applications such as core banking, online banking, banking cards personalization systems, trade finance, international payments, foreign exchange, bank guarantee, and other banking and financial services, multifactor authentication plays an important role in the authentication, resulting in the highest market share in the multifactor authentication market. Request Sample Copy of this Market Research @ https://www.marketsandmarkets.com/requestCustomization.asp?id=877 The market in the Americas is dominating the multifactor authentication market during the forecast period The market in the Americas holds the largest market share in the multifactor authentication market during the forecast period. The presence of key companies such as 3M (US), CA Technologies (US), VASCO Data Security International Inc. (US), RSA Security LLC (US), and Crossmatch (US); a large industrial base; and a high regulatory compliance in the Americas are expected to propel the growth of the American multifactor authentication market.

3. Major players operating in the multifactor authentication market include Safran (France), Gemalto NV (the Netherlands), NEC Corporation (Japan), 3M (US), CA Technologies (US), Fujitsu (Japan), VASCO Data Security International Inc. (US), HID Global Corporation/ASSA ABLOY AB (Sweden), RSA Security LLC (US), Suprema HQ Inc. (South Korea), and Crossmatch (US). About MarketsandMarkets MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 stomers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Contact: Mr. Shelly Singh MarketsandMarkets INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 Email:sales@marketsandmarkets.com