This report studies the Multi-factor Authentication (MFA) market. Multifactor authentication (MFA) is a security system that requires more than one method of authentication from independent categories of credentials to verify the user?s identity for a login or other transaction.
Banking, financial services and insurance (BFSI) segment contributed a largest market share during the forecast period owing to growing need for secure identification and verification techniques. By geography, North America commanded the largest market share due to plenty IT infrastructures and more financial institutions & companies in this region.
Multi-factor authentication (MFA) comes with different models such as two-factor authentication, three-factor authentication, four-factor authentication, and five-factor authentication. The two-factor authentication includes smart card with pin, smart card with biometric technology, biometric technology with pin, two biometric authentications, and one time password with pin. The three authentications include smart card with pin and biometric technology, smart card with two biometric technologies, pin with two biometric technologies, and three biometric authentications. On the other hand, four- and five-factor authentication includes the use of smart card and pin with more than one biometric technology such as face recognition, fingerprint recognition, voice recognition, and so on. MFA model using two factors is gaining popularityin the market; occupying almost 90.88% of its share as of 2017, followed by three-, four-, and five-factor authentication respectively.
MFA is popular due to the high degree of security and is much better than a single username and password combination. Different models of MFA have found various applications in verticals- BFSI, government, immigration & travel, commercial security, electronics and healthcare.

According to this study, over the next five years the Multi-Factor Authentication (MFA) market will register a 18.0% CAGR in terms of revenue, the global market size will reach USD 16800 million by 2024, from USD 6230 million in 2019. In particular, this report presents the global revenue market share of key companies in Multi-Factor Authentication (MFA) business, shared in Chapter 3.

This report presents a comprehensive overview, market shares and growth opportunities of Multi-Factor Authentication (MFA) market by product type, application, key companies and key regions.

This study considers the Multi-Factor Authentication (MFA) value generated from the sales of the following segments-

Segmentation by product type- breakdown data from 2014 to 2019 in Section 2.3; and forecast to 2024 in section 10.7.
Two-Factor Authentication
Three-Factor Authentication
Segmentation by application- breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 10.8.
Banking and Finance
Government
Travel and Immigration
Military and Defense
Commercial Security
Consumer Electronics
Healthcare
Other

This report also splits the market by region- Breakdown data in Chapter 4, 5, 6, 7 and 8.
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report- Breakdown data in in Chapter 3.
Morpho (France)
Gemalto (Netherlands)
NEC (Japan)
Entrust Inc. (US)
CA Technologies (US)
Fujitsu (Japan)
VASCO Data Security (US)
HID Global (US)
RSA Security (US)
Symantec Corporation (US)
SecurEnvoy ltd (England)
Crossmatch (US)
Duo Secuirty (US)
Deepnet Security (England)
CensorNet Ltd. (England)

In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

Research objectives
To study and analyze the global Multi-Factor Authentication (MFA) market size by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Multi-Factor Authentication (MFA) market by identifying its various subsegments.
Focuses on the key global Multi-Factor Authentication (MFA) players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Multi-Factor Authentication (MFA) with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the size of Multi-Factor Authentication (MFA) submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.