Dublin, Aug. 22, 2024 (GLOBE NEWSWIRE) -- The "Multi-Factor Authentication (MFA) - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Multi-Factor Authentication (MFA) is estimated at US$19.7 Billion in 2023 and is projected to reach US$53.0 Billion by 2030, growing at a CAGR of 15.2% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growing reliance on MFA is driven by several key factors. The integration of advanced biometric technologies like fingerprint and facial recognition has made MFA systems more user-friendly and secure, encouraging broader adoption. As businesses increasingly migrate to cloud-based platforms, the necessity for robust security measures such as MFA becomes paramount due to the inherent vulnerabilities of online environments.
Regulatory pressures across various industries mandate the adoption of MFA to safeguard sensitive information, aligning with standards like HIPAA, PCI-DSS, and GDPR. Furthermore, the cultural shift towards greater cybersecurity awareness among consumers and businesses catalyzes the demand for MFA solutions. The proliferation of IoT devices and the widespread implementation of Bring Your Own Device (BYOD) policies also amplify the need for MFA to secure a diverse array of devices and access points in personal and professional contexts.
Additionally, the transition towards remote work models underscores the critical need for MFA to secure remote and mobile access, safeguarding organizational resources against the vulnerabilities of non-traditional work environments. These factors collectively drive the adoption of MFA, reflecting a larger movement towards securing digital interactions within increasingly complex technological landscapes.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Two Factor Authentication segment, which is expected to reach US$33.5 Billion by 2030 with a CAGR of a 14.2%. The Three Factor Authentication segment is also set to grow at 18.3% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $5.1 Billion in 2023, and China, forecasted to grow at an impressive 19.7% CAGR to reach $13.5 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Multi-Factor Authentication (MFA) Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Multi-Factor Authentication (MFA) Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as CA Technologies, Gemalto NV, RSA Security, Inc., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 163 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $19.7 Billion |
| Forecasted Market Value (USD) by 2030 | $53 Billion |
| Compound Annual Growth Rate | 15.2% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Multi-Factor Authentication (MFA) - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Rising Cybersecurity Threats Propel the Adoption of Multi-Factor Authentication
- Regulatory Compliance Requirements Strengthen Business Case for MFA Solutions
- Growing Adoption of Cloud-Based Solutions Accelerates Demand for Cloud-Enabled MFA
- Internet of Things (IoT) Expands Addressable Market Opportunity for MFA
- Advancements in Biometric Technology Spur Innovations in MFA Systems
- Financial Sector Compliance Drives Robust Adoption of Multi-Factor Authentication
- Healthcare Data Protection Regulations Sustain Growth in MFA Demand
- Evolving Consumer Expectations for Secure Online Transactions Generate MFA Opportunities
- Remote Access Technologies: Throws the Spotlight On MFA for Secure Connectivity
- Increased Adoption of E-commerce Platforms Accelerates Need for Robust Authentication
- Education Sector Embraces MFA Amidst Increasing Data Breaches
- Growing Concerns Over Identity Theft Drive Consumer Adoption of MFA
- Technological Integration in Smart Cities Spurs MFA Deployment
- Global Data Protection Laws Propel MFA Implementation as a Compliance Strategy
FOCUS ON SELECT PLAYERS (Total 13 Featured)
- CA Technologies
- Gemalto NV
- RSA Security, Inc.
- SAFRAN Group
- Symantec Corporation
For more information about this report visit https://www.researchandmarkets.com/r/nh4vnn
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