The global multi-factor authentication market is anticipated to grow at a considerable CAGR of 17.2% during the forecast period (2024-2031). The multi-factor authentication market is relatively concentrated as the market includes global and local players, where the product penetration with innovation is expanded. Software firms are also looking in this market, which increases the competition among the players. Some of the recent developments by different key players are

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In December 2020, Micro Focus released NetIQ Universal Policy Administrator (UPA) to provide centralized security management streamlined with integrated authorization and authentication. This next-generation policy platform equips IT, security administrators, with a centralized policy management solution that upgrades operational efficiencies and strengthens cyber resilience. 
In April 2020 - Microsoft announced the commercial release of an additional simplified Azure Active Directory registration procedure that adds multi-factor authentication (MFA) and self-service password reset features for end-users. This MFA plus self-service password registration process was at the "general availability" (GA) release stage. 
In February 2020, Thales launched Fast Identity Online 2.0 (FIDO2) which supplies passwordless access to Microsoft Azure AD cloud apps, domains, and all connected devices and services. This will ultimately support businesses and organizations to move securely to the cloud.

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Market Coverage

Segment Covered- 

By Authentication Type
By Model Type
By Component
By End-User

Regions Covered-

North America
Europe
Asia-Pacific
Rest of the World

Competitive Landscape- including 4Auth Ltd., Broadcom, CyberArk Software Ltd., ESET, spol. S r.o., ForgeRock, and others.

Key questions addressed by the report

What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How COVID-19 impacted the market?

o             Deviation from the pre-COVID-19 forecast

o             Most affected region and segment

Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?

Global Multi-Factor Authentication Market Report Segment

By Authentication Type

Password Authentication
Password less Authentication

By Model Type

Smart Card with Pin
Smart Card with Biometric Technology
Multi-Factor with Four-Factor Authentication
Multi-Factor with Five-Factor Authentication

By Component

Solution
Hardware
Services

By End-User

BFSI 
Government
Travel & Immigration
Military & Defense
Commercial Security
IT
Telecommunication
Others (Education, And Retail & E-Commerce)




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