Market Revenue Multi-Factor Authentication Industry Analysis | Page 2

The two-factor authentication sector accounted for the largest market share of Multi-Factor Authentication and
is estimated to lead the overall market in the coming years. This may be because of secure online transaction,
enhanced security, lower security management cost, and raising flexibility and productivity. Moreover, it
includes onetime password with pin, smart card with pin, two-factor biometric technology, smart card with
biometric technology and biometric technology with pin.
The market may be categorized based on applications like retail & e-commerce, banking and finance, travel &
immigration, healthcare, government, commercial security, military and defense, and others could be explored
in Multi-Factor Authentication in forecast period. The healthcare segment accounted for the largest market
share of Multi-Factor Authentication and is estimated to lead the overall market in the coming years. This may
be because of strict government and industry policy and needs a highly secure infrastructure. Industries depends
on MFA solutions for securing sensitive data and information. Moreover, safety of patient data is anauthorized
directive for healthcare.
Globally, North America accounts for the largest market share of Multi-Factor Authentication and is estimated
to lead the overall market in the upcoming years. The reason behind the overall market growth could be rising
adoption of digital services, rising use of enhanced technology, advanced network connectivity and propagation
of smartphones. In addition, raising cases of cyber-attacks and presence of key manufacturers in the region will
boost the overall market growth. The United States is major consumer of Multi-Factor Authentication in this
region. Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth.
Europe is the second largest region with significant market share.
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However, Asia Pacific is estimated to grow at fastest pace with the highest CAGR of about 19.0% in the foremost
period. The aspects that may be ascribed to the growth comprise high demand for digital services and rising
investments in numerous IoT technologies and security. The key players of Multi-Factor Authentication Market
are Vasco Data Security International, RSA Security, Safran, Symantec Corporation, Gemalto, and CA
Technologies. These players are concentrating on inorganic growth to sustain themselves amongst fierce
competition. As such, mergers, acquisitions and joint ventures are the need of the hour.
Market Segment:
Multi-Factor Authentication Model Outlook (Revenue, USD Million, 2014 - 2025)
• Two Factor Authentication
• Three Factor Authentication