Multi-factor Authentication Market Size, Share, Trend & Growth Forecast to 2023
Date: 2019-01-11   Author: Partha Ray  Category: #industry

Multi-factor Authentication Market Size, Share, Trend & Growth Forecast to 2023

Global Multi-factor Authentication Market Report offered by Market Study Report gives a market overview of the Multi-factor Authentication industry which covers product scope, market revenue, opportunities, growth rate, sales volumes and figures. The report also explores the worldwide players of the market and is segmented by region, type and application with forecast to 2023.

Multi-factor authentication is an emerging category of the identity access management that involves use of multiple methods of authentication to verify a user?s identity. Authentication of user identity ensures secure online transactions, log on to online services, and access to corporate resources. Compromised credentials are the main cause of data breaches. Multi-factor authentication is used by organizations to implement an additional layer of security that requires users to authenticate via knowledge, possession, and inherence factors to gain access to corporate and social networks.

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The study on Multi-factor Authentication market inherently projects this industry space to accrue modest proceeds by the end of the forecast duration. The report also includes, right down to the basics, information pertaining to the market dynamics – such as that of the various driving forces influencing the revenue landscape of this industry as well the innumerable risks prevalent in this sphere, not to mention the myriad opportunities abound in this business.

There is an increasing concern about data privacy across the globe. Numerous countries have introduced countermeasures by formulating regulations like HIPAA for the healthcare sector and the Gramm-Leach-Bliley Act (GLBA), Basel II, PCI DSS, and SOX for the BFSI sector. These regulations offer complete guidelines related to end-user authentication that are essential before granting users access to confidential data. Organizations need to comply with the regulations specific to their regions and the non-compliance with rules can invite penalties. The stringency of the regulatory requirements for data security will contribute to the market?s growth during the forecast period.

The global Multi-factor Authentication market is valued at xx million USD in 2017 and is expected to reach xx million USD by the end of 2023, growing at a CAGR of xx% between 2017 and 2023.

The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.

North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Multi-factor Authentication.

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Europe also play important roles in global market, with market size of xx million USD in 2017 and will be xx million USD in 2023, with a CAGR of xx%.

Addressing concerns with respect to the competitive terrain of the Multi-factor Authentication market:

  • Which firms, as per the Multi-factor Authentication market report, constitute the competitive landscape of this industry?
  • Which among the companies of Entrust, Gemalto, RSA Security, SecureAuth, VASCO Data Security International, CA Technologies, Deepnet Security, Early Warning Services, Fujitsu, HID, IBM, Safran, SecurEnvoy, SecuTech Solutions, Swivel Secure and Symantec is likely to be the strongest contender in the Multi-factor Authentication market?
  • What is the market share accrued by each of the firms in the Multi-factor Authentication market?
  • What are products manufactured by each of the vendors in the industry?
  • What are the price trends and the gross margins of each company in the market?

Market Segment by Type, covers

  •     Multi-factor authentication products
  •     Multi-factor authentication services

Market Segment by Applications, can be divided into

  •     Hardware OTP token
  •     Phone-based authentication
  •     Smart Card-based authentication

Addressing queries with respect to the market segmentation and more:

  • Which among the products such as Multi-factor authentication products and Multi-factor authentication services holds maximum potential in the Multi-factor Authentication market?
  • How much is the market share of each product in the industry?
  • What is the sales estimate and the valuation that every product is projected to hold by the end of the forecast duration?
  • Which among the various applications of Hardware OTP token, Phone-based authentication and Smart Card-based authentication is likely to emerge the most remunerative application segment of the Multi-factor Authentication market?
  • What is the market share of each application in this business space?
  • How much is the projected valuation of every application in the Multi-factor Authentication market?

The Multi-factor Authentication market research study, in essence, comprises an elaborate evaluation of this business space and projects the vertical to record an highly appreciable growth rate over the estimated timeframe. The report also aims to deliver valuable insights with regards to parameters such as market size, sales volume, and valuation forecast, as well as the market concentration rate and the market competition trends. Further incorporated in the report are details pertaining to the sales channels deployed by prominent vendors in order to ensure the most viable commercialization pathway for their products, a couple of which include direct and indirect marketing. Information with respect to the contribution of distributors and traders in the supply chain are enumerated in the study as well.

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About Author

Partha Ray

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.


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