Top Multi-Factor Authentication Companies | IMARC Group
Top Multi-Factor Authentication Companies Worldwide 2022
Multifactor authentication is a method that offers multistep authentication to validate an individual’s authority. It requires more than one authentication detail to grant access. The system includes a security token, password, voice, text message, biometrics, or push notification for recognizing the identity of an individual. It is a core component of a strong identity and access management (IAM) policy. The rising adoption of multifactor authentication technology for various applications, such as banking and finance, government, travel and immigration, military and defense, commercial security, healthcare, and consumer electronics, are offering lucrative growth opportunities for the market players.
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According to IMARC Group, the global multi-factor authentication market reached a value of US$ 12.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 34.7 Billion by 2027, exhibiting at a CAGR of 17.8% during 2022-2027.
Some of the Top Multi-Factor Authentication Companies in the World:
- Broadcom, Inc.
- HID Global Corporation
- Deepnet Security Ltd.
- Entrust Datacard Corporation
- Fujitsu Limited
- Gemalto N.V.
- Microsoft Corporation
- NEC Corporation of America
- Okta, Inc.
- Ping Identity Corporation
- RSA Security LLC
- SecureAuth Corporation
- SecurEnvoy Limited
- Suprema Inc
The top players in the multifactor authentication market are increasingly focusing on technological advancements and innovations. In line with this, the growing cases of cyber-attacks and cyber threats are significantly contributing to the market growth. With the continuous advancements in cloud security, cloud service providers are opting for multifactor authentication software and solutions to provide cost-effectiveness and enhanced security to the users. Numerous vendors are also developing innovative digital identity solutions to gain a competitive advantage in the market. Besides this, leading vendors are introducing security points, such as fingerprint sensors and smartcards, to ensure smooth authentication flow and provide a seamless user experience, which is creating a positive outlook for the market.
Multi-Factor Authentication Market Overview:
Multi-factor authentication (MFA) is a security system that is built to protect business units and organizations from potential security breaches utilizing a multi-layered verification process. It requires an individual to provide numerous safety validation variables, including login credentials, security tokens, One-Time Passwords (OTPs), biometric verification, etc., that are unique to the user.
MFA focuses on creating an elaborate defense system against unauthorized individuals accessing a database, computer device, network, physical location, etc. Consequently, multi-factor authentication finds various applications across several end-use industries, such as healthcare, banking, financial services and insurance (BFSI), defense, etc.
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Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global multi-factor authentication market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on model, deployment type, application and vertical.
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
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