Multi-Factor Authentication Market Growth Prospects, Solutions, Developments Status, Advancement and Business Opportunities


Posted April 28, 2021 by Techfuture

Multi-Factor Authentication Market Opportunities, Growth Potential, Demand, Future Estimations, Competitive Landscape and Statistics | Including Growth Factors, Applications, Regional Analysis, Key Players and Forecast
 
Market Analysis

The global multi-factor authentication market size is anticipated to touch USD 11.24 billion at a 13% CAGR between 2017- 2023, as per the current Market Research Future (MRFR) analysis. Multi-factor authentication or MFA, simply put, is a technological tool that helps organizations to protect their confidential data from theft and unwanted access. This technique entails a one-time password (OTP), biometric, password, personal identification number, and username.

Various factors are propelling the global multi-factor authentication market share. According to the recent MRFR report, such factors include the increase in cyber theft cases, growing demand for secured online transactions of banking and other forms of financial services, an increase in data breach across organizations, and increasing stringency in regulations to safeguard sensitive data.

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Market Segmentation

The MRFR report highlights an inclusive segmental analysis of the global multi-factor authentication market based on application, deployment, and model.

By model, the global multi-factor authentication market is segmented into two-factor, three-factor authentication, four-factor authentication, and five-factor authentication. The two-factor authentication segment is again segmented into smart-card with pin, biometric technology with pin, and biometric technology. The three-factor authentication is again segmented into the smart card with pin & biometric technology, pin with two-factor biometric technologies, smart card with two-factor biometric technologies, and three-factor biometric technology. Of these, the five-factor authentication model segment will lead the market over the forecast period.

By deployment, the global multi-factor authentication market is segmented into on the cloud and on premises. Of these, on the cloud deployment segment will dominate the market over the forecast period.

Access Complete Report @ https://www.marketresearchfuture.com/reports/multifactor-authentication-market-1537
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Last Updated April 28, 2021