The Multi-factor Authentication Market was valued at USD 15.7 Billion in 2023 and is expected to reach USD 60.4 Billion by 2032, growing at a CAGR of 16.14% from 2024-2032.
The Multi-Factor Authentication Market Report offers a comprehensive analysis of key vendors, assessing their authentication methods, security features, and market positioning. It examines performance benchmarks, evaluating the efficiency, security, and user experience of various MFA solutions across industries. The report also explores integration capabilities, highlighting how MFA solutions adapt to different deployment models, including cloud, on-premises, and hybrid environments. Additionally, it provides insights into adoption trends, industry-specific usage patterns, and the growing demand for MFA solutions. This edition includes new insights on AI-driven authentication trends such as adaptive and risk-based MFA, regulatory compliance frameworks, advancements in passwordless authentication and biometrics, the evolving cybersecurity landscape, and future market growth opportunities.
Drivers
Rising cyber threats and regulatory compliance drive organizations to adopt MFA for enhanced security and data protection.
Growing incidents of phishing, credential stuffing and ransomware attacks are increasingly driving the market of Multi-Factor Authentication. Many organizations are adopting MFA for securing infrastructure and preventing unauthorized access and data breaches as required across industries. MFA is ingrained on most of the regulatory frameworks like GDPR, CCPA, NIST, etc. , for data protection. According to the 2024 Data Breach Investigations Report, weak or stolen passwords account for 81% of data breaches, solidifying MFA as an essential component to protecting sensitive data. With evolving cybercriminals, the business world and individuals alike have turned towards MFA when it comes to protecting their digital assets.
Restraints
Multi-layer authentication can slow down user access, impacting productivity and leading to authentication abandonment.
Multi-Factor Authentication can create usability challenges due to higher-order authentication models, granting the right balance between security and usability. More sophisticated MFA modes such as three-factor authentication or biometric-verification-centered MFA consist of multiple verification stages, which reduce the time for logging in and possible hindrance to the workflow. This is especially troublesome in industries such as finance and healthcare, where immediate access to systems is paramount. According to a report, more than 35% of users abandon the authentication attempt if it takes longer than anticipated, which harms both productivity and customer experience. Organizations need to find a perfect balance between tighter security and ease of access to ensure that there is no friction in the authentication flow.
Opportunity
AI-driven MFA enhances security through adaptive authentication, risk-based access, and behavioral analytics for a seamless user experience.
The rise of Artificial Intelligence and Machine Learning is transforming MFA solutions through adaptive authentication and real-time risk assessment. MFA systems powered by AI now assess user behavior, device behavior and even location to calculate a risk score in real-time. AI-based authentication helps in fraud detection by identifying outliers in login patterns and access requests. Moreover, one of the leading passwordless security trends is ML-powered biometric authentication via facial recognition and fingerprint scanning. AI-empowered MFA solutions will still feature a vital component of cybersecurity that will help users protect their accounts without sacrificing a seamless experience, as organizations increasingly lean into digital transformation.
Challenges
Implementing MFA requires a balance between strong security measures and user-friendly authentication processes to avoid friction and inefficiencies.
One of the most cumbersome challenges when implementing MFA is maintaining security whilst ensuring higher levels of user comfort. Complex authentication puts users in a bind where they either get frustrated out of using security channels, or return weak credentials to common use. On the other hand, authentication methods that are too simple make organizations a target for cyber attacks. In industries like medical and banking, MFA protocols should be able to provide a level of security and access that hits just the right compliance and user-friendliness mark. SSO with multi-factor authentication, risk-based authentication, and biometric authentication are more frequently being investigated as a method to improve security with less user friction. This equilibrium is difficult to get correct, and constantly forces companies to innovate.
By Model
In 2023, the two-factor authentication segment dominated the market and accounted for the largest revenue share of 72%. This model allows enterprises to authenticate the digital identities of users based on one or more combination of parameters – knowledge-based, possession-based, and inherence-based factors.
The four-factor authentication segment is expected to register the fastest CAGR during the forecast period. Compared to the traditional multifactor authentication mechanism, four-factor authentication provides a better security level. This all-encompassing strategy greatly strengthens the security profile and makes it more difficult for adversaries to circumvent authentication.
By Application
The BFSI segment dominated the market and accounted for significant revenue share in 2023 and is anticipated to record the fastest CAGR during the forecast period. The BFSI sector deals with a large volume of highly sensitive financial data and hence is a prime target for cybercriminals. Abstract Financial institutions are implementing multifactor authentication as a necessary solution for preventing data breach risk to secure customer accounts, transactions, and personal information.
The retail & e-commerce segment is anticipated to register the fastest CAGR during the forecast period. Driven by the retail and e-commerce industry to a digital boom, but with the rising popularity of online shopping, this sector is increasingly becoming a target for cyberattacks like payment fraud and identity theft. With such risks in play and the need for establishing trust with customers as primary, retailers are now choosing in favor of multifactor authentication to secure all sensitive end-user information, such as payment details and personal data.
In 2023, The Asia-Pacific region dominated the market and accounted for 32% of revenue share, and is projected to register the fastest CAGR during the forecast period. This growth in the region can be attributed to rising expenditure over connected devices, rising investments in the different cloud & IoT technologies, and potentially skyrocket demand for digital services. The growing focus on the protection of personal information and authentication of e-business transactions, along with the rising stringency of regulatory compliances, is driving the expansion of the MFA market.
The North America is anticipated to register the significant CAGR during the forecast period. Some of the primary factors supporting the growth of the regional market include technological advancements, increasing usage of smartphones, increasing network connectivity, and a large demand for digital services.
The major key players along with their products are
Microsoft – Azure Multi-Factor Authentication
Okta – Okta Adaptive MFA
Cisco – Duo Security MFA
RSA Security – RSA SecurID
Thales Group – SafeNet Trusted Access
Ping Identity – PingID
Broadcom (Symantec) – Symantec VIP (Validation and ID Protection)
OneSpan – OneSpan Intelligent Adaptive Authentication
IBM – IBM Security Verify
Entrust – Entrust Identity Enterprise
HID Global – HID Approve
Google – Google Authenticator
Auth0 (by Okta) – Auth0 MFA
ESET – ESET Secure Authentication
ForgeRock – ForgeRock Intelligent Access
October 2024: Amazon Web Services Announced that starting mid-2024, MFA will be mandatory for all privileged accounts to enhance security measures.
November 2024: Rublon Achieved the CRN Channel Master 2025 certification, highlighting its excellence in channel partner programs and MFA solutions.
December 2024: Commonwealth Bank of Australia Initiated the rollout of MFA for all NetBank customers as part of a $450 million investment to strengthen defenses against cybercrime.
| Report Attributes | Details |
| Market Size in 2023 | USD 15.7 Billion |
| Market Size by 2032 | USD 60.4 Billion |
| CAGR | CAGR of 16.14% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Model (Two-Factor Authentication, Three-Factor Authentication, Four-Factor Authentication, Five-Factor Authentication), • By Application (BFSI, Government & Defense, Healthcare, Travel & Immigration, Retail & E-commerce, Others). |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Microsoft, Okta, Cisco, RSA Security, Thales Group, Ping Identity, Broadcom (Symantec), OneSpan, IBM, Entrust, HID Global, Google, Auth0 (by Okta), ESET, ForgeRock. |
Ans- Implementing MFA requires a balance between strong security measures and user-friendly authentication processes to avoid friction and inefficiencies
Ans- Rising cyber threats and regulatory compliance drive organizations to adopt MFA for enhanced security and data protection.
Ans- Asia-Pacific is expected to register the fastest CAGR during the forecast period.
Ans- The CAGR of the Multi-factor Authentication Market during the forecast period is 16.14% from 2024-2032.
Ans The Multi-factor Authentication Market was valued at USD 15.7 Billion in 2023 and is expected to reach USD 60.4 Billion by 2032
Table of Content
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.2 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Key Vendors and Authentication Feature Analysis, 2023
5.2 Authentication Performance Benchmarks and Security Metrics, 2023
5.3 Integration Capabilities by Deployment Model, 2023
5.4 MFA Adoption and Usage Statistics by Industry, 2023
Key Segments:
By Model
By Application
Request for Segment Customization as per your Business Requirement: Segment Customization Request
Regional Coverage:
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Request for Country Level Research Report: Country Level Customization Request
Available Customization
With the given market data, SNS Insider offers customization as per the company’s specific needs. The following customization options are available for the report:
6. Competitive Landscape
6.1 List of Major Companies, By Region
6.2 Market Share Analysis, By Region
6.3 Product Benchmarking
6.3.1 Product specifications and features
6.3.2 Pricing
6.4 Strategic Initiatives
6.4.1 Marketing and promotional activities
6.4.2 Distribution and supply chain strategies
6.4.3 Expansion plans and new product launches
6.4.4 Strategic partnerships and collaborations
6.5 Technological Advancements
6.6 Market Positioning and Branding
7. Multi-factor Authentication Market Segmentation, by Model
7.1 Chapter Overview
7.2 Two Factor Authentication
7.2.1 Two Factor Authentication Market Trends Analysis (2020-2032)
7.2.2 Two Factor Authentication Market Size Estimates and Forecasts to 2032 (USD Billion)
7.3 Three Factor Authentication
7.3.1 Three Factor Authentication Market Trends Analysis (2020-2032)
7.3.2 Three Factor Authentication Market Size Estimates and Forecasts to 2032 (USD Billion)
7.4 Four Factor Authentication
7.4.1 Four Factor Authentication Market Trends Analysis (2020-2032)
7.4.2 Four Factor Authentication Market Size Estimates and Forecasts to 2032 (USD Billion)
7.5 Five Factor Authentication
7.5.1 Five Factor Authentication Market Trends Analysis (2020-2032)
7.5.2 Five Factor Authentication Market Size Estimates and Forecasts to 2032 (USD Billion)
8. Multi-factor Authentication Market Segmentation, by Application
8.1 Chapter Overview
8.2 BFSI
8.2.1 BFSI Market Trends Analysis (2020-2032)
8.2.2 BFSI Market Size Estimates and Forecasts to 2032 (USD Billion)
8.3 Government & Defense
8.3.1Government & Defense Market Trends Analysis (2020-2032)
8.3.2Government & Defense Market Size Estimates and Forecasts to 2032 (USD Billion)
8.4 Healthcare
8.4.1Healthcare Market Trends Analysis (2020-2032)
8.4.2Healthcare Market Size Estimates and Forecasts to 2032 (USD Billion)
8.5 Travel & Immigration
8.5.1Travel & Immigration Market Trends Analysis (2020-2032)
8.5.2Travel & Immigration Market Size Estimates and Forecasts to 2032 (USD Billion)
8.6 Retail & E-commerce
8.6.1Retail & E-commerce Market Trends Analysis (2020-2032)
8.6.2Retail & E-commerce Market Size Estimates and Forecasts to 2032 (USD Billion)
8.7 Others
8.7.1Others Market Trends Analysis (2020-2032)
8.7.2Others Market Size Estimates and Forecasts to 2032 (USD Billion)
9. Regional Analysis
9.1 Chapter Overview
9.2 North America
9.2.1 Trends Analysis
9.2.2 North America Multi-factor Authentication Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.2.3 North America Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.2.4 North America Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.2.5 USA
9.2.5.1 USA Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.2.5.2 USA Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.2.6 Canada
9.2.6.1 Canada Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.2.6.2 Canada Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.2.7 Mexico
9.2.7.1 Mexico Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.2.7.2 Mexico Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3 Europe
9.3.1 Eastern Europe
9.3.1.1 Trends Analysis
9.3.1.2 Eastern Europe Multi-factor Authentication Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.3.1.3 Eastern Europe Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.3.1.4 Eastern Europe Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3.1.5 Poland
9.3.1.5.1 Poland Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.3.1.5.2 Poland Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3.1.6 Romania
9.3.1.6.1 Romania Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.3.1.6.2 Romania Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3.1.7 Hungary
9.3.1.7.1 Hungary Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.3.1.7.2 Hungary Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3.1.8 Turkey
9.3.1.8.1 Turkey Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.3.1.8.2 Turkey Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3.1.9 Rest of Eastern Europe
9.3.1.9.1 Rest of Eastern Europe Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.3.1.9.2 Rest of Eastern Europe Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3.2 Western Europe
9.3.2.1 Trends Analysis
9.3.2.2 Western Europe Multi-factor Authentication Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.3.2.3 Western Europe Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.3.2.4 Western Europe Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3.2.5 Germany
9.3.2.5.1 Germany Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.3.2.5.2 Germany Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3.2.6 France
9.3.2.6.1 France Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.3.2.6.2 France Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3.2.7 UK
9.3.2.7.1 UK Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.3.2.7.2 UK Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3.2.8 Italy
9.3.2.8.1 Italy Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.3.2.8.2 Italy Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3.2.9 Spain
9.3.2.9.1 Spain Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.3.2.9.2 Spain Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3.2.10 Netherlands
9.3.2.10.1 Netherlands Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.3.2.10.2 Netherlands Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3.2.11 Switzerland
9.3.2.11.1 Switzerland Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.3.2.11.2 Switzerland Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3.2.12 Austria
9.3.2.12.1 Austria Multi-factor Authentication Market Estimates and Forecasts, by System (2020-2032) (USD Billion)
9.3.2.12.2 Austria Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3.2.13 Rest of Western Europe
9.3.2.13.1 Rest of Western Europe Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.3.2.13.2 Rest of Western Europe Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.4 Asia Pacific
9.4.1 Trends Analysis
9.4.2 Asia Pacific Multi-factor Authentication Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.4.3 Asia Pacific Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.4.4 Asia Pacific Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.4.5 China
9.4.5.1 China Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.4.5.2 China Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.4.6 India
9.4.5.1 India Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.4.5.2 India Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.4.5 Japan
9.4.5.1 Japan Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.4.5.2 Japan Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.4.6 South Korea
9.4.6.1 South Korea Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.4.6.2 South Korea Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.4.7 Vietnam
9.4.7.1 Vietnam Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.2.7.2 Vietnam Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.4.8 Singapore
9.4.8.1 Singapore Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.4.8.2 Singapore Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.4.9 Australia
9.4.9.1 Australia Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.4.9.2 Australia Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.4.10 Rest of Asia Pacific
9.4.10.1 Rest of Asia Pacific Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.4.10.2 Rest of Asia Pacific Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.5 Middle East and Africa
9.5.1 Middle East
9.5.1.1 Trends Analysis
9.5.1.2 Middle East Multi-factor Authentication Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.5.1.3 Middle East Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.5.1.4 Middle East Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.5.1.5 UAE
9.5.1.5.1 UAE Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.5.1.5.2 UAE Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.5.1.6 Egypt
9.5.1.6.1 Egypt Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.5.1.6.2 Egypt Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.5.1.7 Saudi Arabia
9.5.1.7.1 Saudi Arabia Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.5.1.7.2 Saudi Arabia Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.5.1.8 Qatar
9.5.1.8.1 Qatar Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.5.1.8.2 Qatar Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.5.1.9 Rest of Middle East
9.5.1.9.1 Rest of Middle East Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.5.1.9.2 Rest of Middle East Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.5.2 Africa
9.5.2.1 Trends Analysis
9.5.2.2 Africa Multi-factor Authentication Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.5.2.3 Africa Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.5.2.4 Africa Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.5.2.5 South Africa
9.5.2.5.1 South Africa Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.5.2.5.2 South Africa Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.5.2.6 Nigeria
9.5.2.6.1 Nigeria Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.5.2.6.2 Nigeria Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.5.2.7 Rest of Africa
9.5.2.7.1 Rest of Africa Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.5.2.7.2 Rest of Africa Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.6 Latin America
9.6.1 Trends Analysis
9.6.2 Latin America Multi-factor Authentication Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.6.3 Latin America Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.6.4 Latin America Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.6.5 Brazil
9.6.5.1 Brazil Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.6.5.2 Brazil Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.6.6 Argentina
9.6.6.1 Argentina Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.6.6.2 Argentina Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.6.7 Colombia
9.6.7.1 Colombia Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.6.7.2 Colombia Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.6.8 Rest of Latin America
9.6.8.1 Rest of Latin America Multi-factor Authentication Market Estimates and Forecasts, by Model (2020-2032) (USD Billion)
9.6.8.2 Rest of Latin America Multi-factor Authentication Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
10. Company Profiles
10.1 Microsoft
10.1.1 Company Overview
10.1.2 Financial
10.1.3 Products/ Services Offered
110.1.4 SWOT Analysis
10.2 Okta
10.2.1 Company Overview
10.2.2 Financial
10.2.3 Products/ Services Offered
10.2.4 SWOT Analysis
10.3 Cisco
10.3.1 Company Overview
10.3.2 Financial
10.3.3 Products/ Services Offered
10.3.4 SWOT Analysis
10.4 RSA Security
10.4.1 Company Overview
10.4.2 Financial
10.4.3 Products/ Services Offered
10.4.4 SWOT Analysis
10.5 Thales Group
10.5.1 Company Overview
10.5.2 Financial
10.5.3 Products/ Services Offered
10.5.4 SWOT Analysis
10.6 Ping Identity
10.6.1 Company Overview
10.6.2 Financial
10.6.3 Products/ Services Offered
10.6.4 SWOT Analysis
10.7 Broadcom (Symantec)
10.7.1 Company Overview
10.7.2 Financial
10.7.3 Products/ Services Offered
10.7.4 SWOT Analysis
10.8 OneSpan
10.8.1 Company Overview
10.8.2 Financial
10.8.3 Products/ Services Offered
10.8.4 SWOT Analysis
10.9 IBM
10.9.1 Company Overview
10.9.2 Financial
10.9.3 Products/ Services Offered
10.9.4 SWOT Analysis
10.10 Entrust
10.9.1 Company Overview
10.9.2 Financial
10.9.3 Products/ Services Offered
10.9.4 SWOT Analysis
11. Use Cases and Best Practices
12. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
Key Segmentation:
By Model
Two Factor Authentication
Three Factor Authentication
Four Factor Authentication
Five Factor Authentication
By Application
BFSI
Government & Defense
Healthcare
Travel & Immigration
Retail & E-commerce
Others
Request for Segment Customization as per your Business Requirement: Segment Customization Request
Regional Coverage:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Request for Country Level Research Report: Country Level Customization Request
Available Customization
With the given market data, SNS Insider offers customization as per the company’s specific needs. The following customization options are available for the report:
Detailed Volume Analysis
Criss-Cross segment analysis (e.g. Product X Application)
Competitive Product Benchmarking
Geographic Analysis
Additional countries in any of the regions
Customized Data Representation
Detailed analysis and profiling of additional market players
The Consumer Network Attached Storage Market Size was valued at USD 5.52 Billion in 2023 and is expected to grow at a CAGR of 12.18% by forecast 2024-2032.
The Operational Technology Market was valued at USD 179.56 billion in 2023 and is expected to reach USD 369.64 billion by 2032, growing at a CAGR of 8.38% over the forecast period 2024-2032.
The Smart Tracker Market size was valued at USD 0.69 billion in 2023 and is expected to grow to USD 2.02 billion by 2032 and grow at a CAGR of 12.71% over the forecast period of 2024-2032.
The Haptic Technology Market was Valued at USD 3.44 Billion in 2023 and is now anticipated to grow to USD 6.96 Billion by 2032, displaying a compound annual growth rate (CAGR) 7.26% of during the forecast Period 2024 - 2032.
The Dry Type Transformer Market was valued at USD 6.52 billion in 2023 and is projected to reach USD 11.45 billion by 2032, growing at a robust CAGR of 6.45% over the forecast period from 2024 to 2032.
The Connected Living Room Market Size was USD 50.55 billion in 2023 and is expected to reach USD 101.95 Bn by 2032 and grow at a CAGR of 8.12% by 2024-2032.
Hi! Click one of our member below to chat on Phone
© 2025 All Rights Reserved by SNS Insider Pvt Ltd
