Multi-Factor Authentication Market Research Report – Global Forecast to 2027

Global Multi-Factor Authentication Market: by Model (Two-Factor & Multi-Factor with Three-Factor Authentication, Multifactor with Four-Factor & Multifactor with Five-Factor Authentication), by Deployment Type (on Premise and on Cloud) – Forecast 2027

ID: MRFR/ICT/1008-HCR | February 2021 | Region: Global | 100 pages

Impact of COVID-19 on the Global Multi-Factor Authentication Market


Multi-factor authentication is an authentication method where an employer is granted access only after effectively presenting two or more shreds of evidence to an authentication mechanism. The increasing cyberattacks over company-owned devices are boosting the demand for multi-factor authentication. Besides, the rising national security concerns and an increase in the demand for advanced authentication are the main factors driving the growth of the market. Multi-factor authentication systems are widely adopted by the BFSI sector owing to their use in various applications, including online transactions, trade finance, foreign exchange, and other banking and financial services. The COVID-19 pandemic has compelled people to stay within their homes, and companies have allowed employees to work from home to contain the spread of the pandemic. An increasing number of employees are working remotely; hence the protection of confidential company information is a crucial concern during this period.


It is very problematic to issue multi-factor authentication tokens to the employees who are working from home for the first time as the installation of the related technologies is complicated without the presence of physical access. However, multi-factor authentication has proved to be critical during the COVID-19 pandemic. Companies have activated multi-factor authentication on employee accounts. According to the MRFR analysis, there has been a 30% increase in coronavirus-related cyberattacks per week during the COVID-19 pandemic. People's curiosity regarding the latest information on the outbreak of COVID-19 has increased their vulnerability to fake websites and phishing emails. For instance, cybercriminals have sent malicious emails from the domain "who.int" with the subject as "Urgent letter from WHO: First human COVID-19 vaccine result/test update". Victims who clicked on the file have ended up downloading malware.


The usage of e-commerce platforms has witnessed a significant boost during the COVID-19 pandemic. People are avoiding cash transactions to contain the spread of the virus. E-commerce frauds have been the most common form of cyberattacks faced by people during the lockdown. Many of the e-commerce platforms have discontinued the option of cash on delivery, and it has become mandatory that the customers must use digital payments. The use of multi-factor authentication is expected to reduce these frauds. The increased adoption of unified platforms for authentication is expected to drive the growth of the market.

TABLE OF CONTENTS

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

4 Market Landscape

4.1 Porter’s Five Forces Analysis

4.1.1 Threat of New Entrants

4.1.2 Bargaining power of buyers

4.1.3 Threat of substitutes

4.1.4 Segment rivalry

4.2 Value Chain/Supply Chain of Global Multi-factor authentication Market

5 Industry Overview of Global Multi-factor authentication Market

5.1 Introduction

5.2 Growth Drivers

5.3 Impact analysis

5.4 Market Challenges

6 Market Trends

6.1 Introduction

6.2 Growth Trends

6.3 Impact analysis

7. Global Multi-factor authentication Market by Model

7.1 Introduction

7.2 Two-Factor Authentication

7.2.1 Market Estimates & Forecast, 2020-2027

7.2.2 Market Estimates & Forecast by Region, 2020-2027

7.3 Multi-Factor with Three-Factor Authentication

7.3.1 Market Estimates & Forecast, 2020-2027

7.3.2 Market Estimates & Forecast by Region, 2020-2027

7.4 Multi-Factor with Four-Factor Authentication

7.4.1 Market Estimates & Forecast, 2020-2027

7.4.2 Market Estimates & Forecast by Region, 2020-2027

7.5 Multi-Factor with Five-Factor Authentication

7.5.1 Market Estimates & Forecast, 2020-2027

7.5.2 Market Estimates & Forecast by Region, 2020-2027

8 Global Multi-factor authentication Market by Deployment

8.1 Introduction

8.2 On-Premises

8.2.1 Market Estimates & Forecast, 2020-2027

8.2.2 Market Estimates & Forecast by Region, 2020-2027

8.3 On-Cloud

8.3 1 Market Estimates & Forecast, 2020-2027

8.3.2 Market Estimates & Forecast by Region, 2020-2027

9 Global Multi-factor authentication Market by Application

9.1 Introduction

9.2 Banking & Finance

9.2.1 Market Estimates & Forecast, 2020-2027

9.2.2 Market Estimates & Forecast by Region, 2020-2027

9.3 Government Institutions

9.3 1 Market Estimates & Forecast, 2020-2027

9.3.2 Market Estimates & Forecast by Region, 2020-2027

9.4 Travel & Immigration

9.4 1 Market Estimates & Forecast, 2020-2027

9.4.2 Market Estimates & Forecast by Region, 2020-2027

9.5 Military & Defense

9.5 1 Market Estimates & Forecast, 2020-2027

9.5.2 Market Estimates & Forecast by Region, 2020-2027.

9.6 Commercial Security

9.6 1 Market Estimates & Forecast, 2020-2027

9.6.2 Market Estimates & Forecast by Region, 2020-2027.

9.7 Consumer Electronics

9.7 1 Market Estimates & Forecast, 2020-2027

9.7.2 Market Estimates & Forecast by Region, 2020-2027

9.8 Healthcare

9.8 1 Market Estimates & Forecast, 2020-2027

9.8.2 Market Estimates & Forecast by Region, 2020-2027.

10. Global Multi-factor authentication Market by Region

10.1 Introduction

10.2 North America

10.2.1 Market Estimates & Forecast, 2020-2027

10.2.2 Market Estimates & Forecast by Model, 2020-2027

10.2.3 Market Estimates & Forecast by Deployment, 2020-2027

10.2.4 Market Estimates & Forecast by Application, 2020-2027

10.2.5 U.S.

10.2.5.1 Market Estimates & Forecast, 2020-2027

10.2.5.2 Market Estimates & Forecast by Model, 2020-2027

10.2.5.3 Market Estimates & Forecast by Deployment, 2020-2027

10.2.5.4 Market Estimates & Forecast by Application, 2020-2027

10.2.6 Canada

10.2.6.1 Market Estimates & Forecast, 2020-2027

10.2.6.2 Market Estimates & Forecast by Model, 2020-2027

10.2.6.3 Market Estimates & Forecast by Deployment, 2020-2027

10.2.6.3 Market Estimates & Forecast by Application, 2020-2027

10.3 Europe

10.3.1 Market Estimates & Forecast, 2020-2027

10.3.2 Market Estimates & Forecast by Model, 2020-2027

10.3.3 Market Estimates & Forecast by Deployment, 2020-2027

10.3.4 Market Estimates & Forecast by Application, 2020-2027

10.3.5 Germany

10.3.5.1 Market Estimates & Forecast, 2020-2027

10.3.5.2 Market Estimates & Forecast by Model, 2020-2027

10.3.5.3 Market Estimates & Forecast by Deployment, 2020-2027

10.3.5.3 Market Estimates & Forecast by Application, 2020-2027

10.3.6. France

10.3.6.1 Market Estimates & Forecast, 2020-2027

10.3.6.2 Market Estimates & Forecast by Model, 2020-2027

10.3.6.3 Market Estimates & Forecast by Deployment, 2020-2027

10.3.6.4 Market Estimates & Forecast by Application, 2020-2027

10.3.7. U.K

10.3.7.1 Market Estimates & Forecast, 2020-2027

10.3.7.2 Market Estimates & Forecast by Model, 2020-2027

10.3.7.3 Market Estimates & Forecast by Deployment, 2020-2027

10.3.7.4 Market Estimates & Forecast by Application, 2020-2027

10.4 Asia Pacific

10.4.1 Market Estimates & Forecast, 2020-2027

10.4.2 Market Estimates & Forecast by Model, 2020-2027

10.4.3 Market Estimates & Forecast by Deployment, 2020-2027

10.4.4 Market Estimates & Forecast by Application, 2020-2027

10.4.5 China

10.4.5.1 Market Estimates & Forecast, 2020-2027

10.4.5.2 Market Estimates & Forecast by Model, 2020-2027

10.4.5.3 Market Estimates & Forecast by Deployment, 2020-2027

10.4.5.4 Market Estimates & Forecast by Application, 2020-2027

10.4.6 India

10 4.6.1 Market Estimates & Forecast, 2020-2027

10 4.6.2 Market Estimates & Forecast by Model, 2020-2027

10 4.6.3 Market Estimates & Forecast by Deployment, 2020-2027

10 4.6.4 Market Estimates & Forecast by Application, 2020-2027

10.4.7 Japan

10.4.7.1 Market Estimates & Forecast, 2020-2027

10.4.7.2 Market Estimates & Forecast by Model, 2020-2027

10.4.7.3 Market Estimates & Forecast by Deployment, 2020-2027

10.4.7.4 Market Estimates & Forecast by Application, 2020-2027

10.4.8 Rest of Asia Pacific

10.4.8.1 Market Estimates & Forecast, 2020-2027

10.4.8.2 Market Estimates & Forecast by Model, 2020-2027

10.4.8.3 Market Estimates & Forecast by Deployment, 2020-2027

10.4.8.4 Market Estimates & Forecast by Application, 2020-2027

10.5 Rest of the World

10.5.1 Market Estimates & Forecast, 2020-2027

10.5.2 Market Estimates & Forecast by Model, 2020-2027

10.5.3 Market Estimates & Forecast by Deployment, 2020-2027

10.5.4 Market Estimates & Forecast by Application, 2020-2027

10.5.5 The Middle East & Africa

10.5.5.1 Market Estimates & Forecast, 2020-2027

10.5.5.2 Market Estimates & Forecast by Model, 2020-2027

10.5.5.3 Market Estimates & Forecast by Deployment, 2020-2027

10.5.5.4 Market Estimates & Forecast by Application, 2020-2027

10.5.6 Latin Countries

10.5.6.1 Market Estimates & Forecast, 2020-2027

10.5.6.2 Market Estimates & Forecast by Model, 2020-2027

10.5.6.3 Market Estimates & Forecast by Deployment, 2020-2027

10.5.6.4 Market Estimates & Forecast by Application, 2020-2027

11. Company Landscape

12. Company Profiles

12.1 Safran (France)

12.1.1 Company Overview

12 1.2 Product/Business Segment Overview

12.1.3 Financial Updates

12.1.4 Key Developments

12.2 Gemalto NV (the Netherlands)

12.2.1 Company Overview

12.2.2 Product/Business Segment Overview

12.2.3 Financial Updates

12.2.4 Key Developments

12.3 NEC Corporation (Japan)

12.3.1 Company Overview

12.3.2 Product/Business Segment Overview

12.3 3 Financial Updates

12.3.4 Key Developments

12.4 3M (U.S.)

12.4.1 Company Overview

12.4.2 Product/Business Segment Overview

12.4 3 Financial Updates

12.4.4 Key Developments

12.5 CA Technologies (U.S.)

12.5.1 Company Overview

12.5.2 Product/Business Segment Overview

12.5.3 Financial Updates

12.5.4 Key Developments

12.6 Fujitsu (Japan)

12.6.1 Company Overview

12.6.2 Product/Business Segment Overview

12.6.3 Financial Updates

12.6.4 Key Developments

12.7 VASCO Data Security International Inc. (U.S.)

12.7.1 Company Overview

12.7.2 Product/Business Segment Overview

12.7.3 Financial Updates

12.7 4 Key Developments

12.8 HID Global Corporation/ASSA ABLOY AB (Sweden)

12.8.1 Company Overview

12.8.2 Product/Business Segment Overview

12.8 3 Financial Updates

12.8.4 Key Developments

12.9 RSA Security LLC (U.S.)

12.9.1 Company Overview

12.9.2 Product/Business Segment Overview

12.9.3 Financial Updates

12.9.4 Key Developments

12.10 Suprema HQ Inc. (South Korea)

12.10.1 Company Overview

12.10.2 Product/Business Segment Overview

12.10.3 Financial Updates

12.10.4 Key Developments

12.11 Crossmatch (U.S.)

12.11.1 Company Overview

12.11.2 Product/Business Segment Overview

12.11.3 Financial Updates

12.11 4 Key Developments

12.12. IBM Corporation (U.S.)

12.12.1 Company Overview

12.12.2 Product/Business Segment Overview

12.12.3 Financial Updates

12.12.4 Key Developments

12.13 Microsoft Corporation (U.S.)

12.13.1 Company Overview

12.13.2 Product/Business Segment Overview

12.13.3 Financial Updates

12.13.4 Key Developments

12.14 Securenvoy Ltd (U.K)

12.14.1 Company Overview

12.14.2 Product/Business Segment Overview

12.14.3 Financial Updates

12.14 4 Key Developments

12.15 Watchdata Technologies (China)

12.15.1 Company Overview

12.15.2 Product/Business Segment Overview

12.15.3 Financial Updates

12.15 4 Key Developments

13 Conclusion

LIST OF TABLES

Table1 World Population by Major Regions (2020 To 2027)

Table2 Global Multi-factor authentication Market: By Region, 2020-2027

Table3 North America Multi-factor authentication Market: By Country, 2020-2027

Table4 Europe Multi-factor authentication Market: By Country, 2020-2027

Table5 Asia-Pacific Multi-factor authentication Market: By Country, 2020-2027

Table6 Middle East & Africa Multi-factor authentication Market: By Country, 2020-2027

Table7 Latin America Multi-factor authentication Market: By Country, 2020-2027

Table8 Global Multi-factor authentication by Technology Market: By Regions, 2020-2027

Table9 North America Multi-factor authentication by Technology Market: By Country, 2020-2027

Table10 Europe Multi-factor authentication by Technology Market: By Country, 2020-2027

Table11 Asia-Pacific Multi-factor authentication by Technology Market: By Country, 2020-2027

Table12 Middle East & Africa Multi-factor authentication by Technology Market: By Country, 2020-2027

Table13 Latin America Multi-factor authentication by Technology Market: By Country, 2020-2027

Table14 Global Multi-factor authentication by Industry Market: By Regions, 2020-2027

Table15 North America Multi-factor authentication by Industry Market: By Country, 2020-2027

Table16 Europe Multi-factor authentication by Industry Market: By Country, 2020-2027

Table17 Asia-Pacific Multi-factor authentication by Industry Market: By Country, 2020-2027

Table18 Middle East & Africa Multi-factor authentication by Industry Market: By Country, 2020-2027

Table19 Latin America Multi-factor authentication by Industry Market: By Country, 2020-2027

Table20 North America Multi-factor authentication for Industry Market: By Country, 2020-2027

Table21 Europe Multi-factor authentication for Industry Market: By Country, 2020-2027

Table22 Asia-Pacific Multi-factor authentication for Industry Market: By Country, 2020-2027

Table23 Middle East & Africa Multi-factor authentication for Industry Market: By Country, 2020-2027

Table24 Global Technology Market: By Region, 2020-2027

Table25 Global Industry Market By Region, 2020-2027

Table26 Global Industry Market By Region, 2020-2027

Table27 North America Multi-factor authentication Market, By Country

Table28 North America Multi-factor authentication Market, By Technology

Table29 North America Multi-factor authentication Market, By Applications

Table30 Europe Multi-factor authentication Market, By Applications

Table31 Europe Multi-factor authentication Market, By Technology

Table32 Asia-Pacific Multi-factor authentication Market, By Country

Table33 Asia-Pacific Multi-factor authentication Market, By Technology

Table34 Asia-Pacific Multi-factor authentication Market, By Applications

Table35 Middle East & Africa: Multi-factor authentication Market, By Country

Table36 Middle East & Africa Multi-factor authentication Market, By Technology

Table37 Middle East & Africa Multi-factor authentication Market, By Applications

Table38 Latin America: Multi-factor authentication Market, By Country

Table39 Latin America Multi-factor authentication Market, By Technology

Table40 Latin America Multi-factor authentication Market, By Applications

LIST OF FIGURES

FIGURE 1 Global Multi-factor authentication Market segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Porter’s Five Forces Analysis of Global Multi-factor authentication Market

FIGURE 4 Value Chain of Global Multi-factor authentication Market

FIGURE 5 Share of Global Multi-factor authentication Market in 2020, by country (in %)

FIGURE 6 Global Multi-factor authentication Market, 2020-2027,

FIGURE 7 Sub segments of Technology

FIGURE 8 Global Multi-factor authentication Market size by Technology, 2020

FIGURE 8 Share of Global Multi-factor authentication Market by Technology, 2020 TO 2027

FIGURE 9 Global Multi-factor authentication Market size by Applications, 2020

FIGURE 10 Share of Global Multi-factor authentication Market by Applications, 2020 TO 2027

FIGURE 11 Global Multi-factor authentication Market size by Industry, 2020

FIGURE 12 Share of Global Multi-factor authentication Market by Industry, 2020 TO 2027