Multi-Factor Authentication Market

Multi-Factor Authentication Market by Authentication Type (Password-Based Authentication, Passwordless Authentication), Component (Hardware, Software, Services), Model Type, End User Industry and Region - Global Forecast to 2028

Report Code: TC 7883 Oct, 2023, by marketsandmarkets.com

[298 Pages Report] The global MFA market size is projected to grow from USD 15.2 billion in 2023 to USD 34.8 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 18.0% during the forecast period. The expansion of the MFA market can be attributed to stringent government regulations to increase the adoption of MFA solutions.

Moreover, the MFA market is experiencing growth due to the proliferation of cloud-based MFA solutions and services. These factors contribute to the market’s promising growth potential, providing organizations with enhanced security measures.

Multi-Factor Authentication Market

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Multi-Factor Authentication Market

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MFA Market Dynamics

Driver: Stringent government regulations to increase the adoption of MFA solutions

Various regulatory compliances are designed for industries to provide a standard for data protection in industries. These compliances assure organizations of their data safety and enable them to tackle security-related issues effectively. PCI DSS v4.0 was released in March 2022 and differs significantly from its predecessor, v3.2.1, in many important ways. One of the most significant changes in the most recent edition is the requirement for MFA for all accounts that can access cardholder data. Earlier versions of the PCI DSS had considered MFA to be a best practice.

Similarly, the Federal Trade Commission (FTC) published updates to the FTC Safeguards Rule on October 27, 2021. There are new technological requirements, which are the most significant modifications in this amendment. The regulation explicitly mentions multi-factor authentication (MFA) as a necessary feature. These government mandates and regulatory compliances are pushing organizations to deploy MFA solutions and services to ensure information security, which is expected to drive the growth of the MFA market.

Restraint: Increasing response time in higher-order authentication models.

Two-factor authentication systems require less time to handle a single query than three-, four-, and five-factor authentication. This added layer of security requires users to invest a few extra seconds in the authentication process, which may seem like a minor inconvenience in high-stress or fast-paced business environments. An authentication system has to be simple and perfect to implement it successfully. Authentication systems with multiple factors are being designed and prototyped with the advancement of technology. However, this would increase the time required to handle a single query as it would involve multiple processes for the authentication of data or users. As a result, this would result in long queues and increase the service/response time. The impact of this restraint is currently high but will be reduced in the future because of the ease of access techniques.

Opportunity: Rising adoption of interconnected devices in the IoT environment

As organizations integrate an array of IoT devices into their operations, they become potential entry points for cyber threats. MFA steps in as a critical security measure to safeguard against unauthorized access and potential breaches. These devices, ranging from smart thermostats to industrial sensors, are diverse in their applications but share a common vulnerability: the potential for exploitation. By implementing MFA, organizations add a layer of protection, requiring not just knowledge of a password but also the possession of an authorized device or biometric data for authentication. This multi-layered approach mitigates the risks associated with IoT devices. It enhances the overall security posture, assuring businesses that their IoT investments are not compromising their data integrity or customer trust. Thus, interconnected devices in the IoT environment will create more opportunities for MFA.

Challenge: Lack of awareness related to MFA among enterprises

The major limitation to the growth of the MFA market is the lack of awareness about the correct use of MFA solutions. The growing threat to on-premises and cloud data has increased the overall IT spending for on-premises and cloud security. The inability of in-house enterprise security teams to safeguard on-premises data has forced enterprises to move their data to the cloud. Lack of adequate MFA knowledge may lead to errors and enormous business losses. Chief information security officers are essential in ensuring that enterprises are well-equipped with the best-in-class MFA solutions and that employees do not fall prey to adversaries, such as malware, phishing, spoofing, ransomware, and APT. With changes in the business environment, security requirements are also evolving with the rise in zero-day threats and phishing attacks. This lack of awareness about advanced security threats has put businesses at risk and is hindering the growth of the MFA market.

MFA Market Ecosystem

Multi-Factor Authentication Market

By end-user industry, the media & entertainment industry is expected to grow at the highest CAGR during the forecast period.

The media and entertainment industry is at the cusp of transformation, with digital media expanding rapidly across TV, films, radio, advertising, animation, gaming, Out-Of-Home (OOH) advertising, and music. With the introduction of several digital technologies, content creation and production have given rise to numerous copyright-, patent-, and fraud-related activities. The media and entertainment sectors are essential in forming public opinion and the nation’s image, making them a tempting target for cybercriminal organizations. Government-sponsored APT groups frequently target sensitive information from media organizations, such as press releases, intellectual property, partnerships, country operations, and sources. Mobile apps and linked TVs are now in high demand for online video streaming. Cybercriminals have started to entice customers into using fraudulent streaming sites due to the sharp increase in traffic to online streaming services.

By Two-factor authentication, the smart card with biometric technology segment is to grow at the highest CAGR during the forecast period.

The adoption of “Smart card with biometric technology” Two-Factor Authentication is gaining momentum in the business landscape, driven by several compelling factors. It combines two distinct factors: something the user possesses (the smart card) and a unique biological trait (biometric data like fingerprints or facial features) to offer an exceptionally high level of security. This dual-factor approach significantly bolsters security, ensuring that only authorized individuals with the physical card and the matching biometric data can access sensitive systems and data. Electronics identification technology is widely adopted for its better performance and reliability. Smart cards are highly secure and reliable. Also, biometric technology is the safest to identify and authenticate genuine users. Many biometrics and other data can be stored in smart cards, which can be used to verify and identify the person. When the combination of biometrics and the smart card is employed, it creates a very secure environment, as no external database is required to access the guarded system. The complete biometrics template data is stored on the smart card, and the data comparison is made locally.

By region, North America accounts for the highest market size during the forecast period.

North America is one of the most affected regions in the world by cyberattacks, especially identity-related crimes. Cybersecurity is identified as the most severe economic and national security challenge by governments in North America. According to the US Federal Trade Commission (FTC), more than 5.88 million fraud reports were received on their portal in 2021. With 1,434,695 complaints, identity theft complaints topped the list of fraud reports received by the FTC. The rising threat of identity fraud is a compelling driver for adopting MFA across various industries. As organizations and individuals recognize the limitations of traditional authentication methods, MFA offers a powerful means to enhance security and protect against unauthorized access and identity theft. Moreover, North America is home to major MFA vendors such as Microsoft, Broadcom, OneSpan, OKTA, and Micro Focus. The presence of such prominent vendors drives the adoption of MFA solutions and services in the region.

Multi-Factor Authentication Market Size, and Share

Key Market Players

The key players in the MFA market are Microsoft (US), Thales (France), Okta (US), Broadcom (US), OneSpan (US), Micro Focus (UK), HID Global (US), Cisco (US), Ping Identity (US), RSA Security (US), ESET (Slovakia), Yubico (US0, ForgeRock (US), CyberArk (US), OneLogin (US), SecureAuth (US), Oracle (US), SalesForce (US), Secret Double Octopus (Israel), Silverfort (Israel), Trusona (US), FusionAuth (US), HYPR (US), Keyless (US), Luxchain (China).

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Scope of the Report

Report Metrics

Details

Market size available for years

2017-2028

Base year considered

2022

Forecast period

2023–2028

Forecast units

Value (USD Million/USD Billion) 

Segments Covered

Authentication type, components, model type, end users industry, and regions

Geographies covered

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America

Companies covered

Major vendors in the global MFA market include Microsoft (US), Thales (France), Okta (US), Broadcom (US), OneSpan (US), Micro Focus (UK), HID Global (US), Cisco (US), Ping Identity (US), RSA Security (US), ESET (Slovakia), Yubico (US0, ForgeRock (US), CyberArk (US), OneLogin (US), SecureAuth (US), Oracle (US), SalesForce (US), Secret Double Octopus (Israel), Silverfort (Israel), Trusona (US), FusionAuth (US), HYPR (US), Keyless (US), Luxchain (China).

The study categorizes the MFA market by authentication type, components, model type, end-user industry, and regions.

By Authentication type:
  • Password-Based Authentication
  • Passwordless Authentication
By Components:
  • Hardware
  • Software
  • Services
By Model Type:
  • Two Factor Authentication
  • Three Factor Authentication
  • Four Factor Authentication
  • Five-Factor Authentication
By End-user Industry
  • Banks Financial Services and Insurance
  • Government
  • Travel & Immigration
  • Military & Defense
  • Commercial Security
  • Healthcare
  • Information Technology
  • Telecommunication
  • Media & Entertainment
  • Other End-user Industry
By Region:
  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Recent Developments

  • In April 2023, Thales launched the SafeNet eToken Fusion series, a new set of USB tokens. With the help of the SafeNet eToken Fusion Series, businesses may use passwordless authentication techniques resistant to phishing attacks, enhancing the security of company resources used on any device.
  • In November 2022, Okta launched Okta Customer Identity Cloud, an easy-to-implement and customizable customer identity solution. The Okta Customer Identity Cloud for Consumer Apps helps any organization with advanced security features like Adaptive MFA.
  • In September 2022, Microsoft partnered with Silverfort to bring unified identity protection to on-premises and cloud. Silverfort developed a suitable identity protection system with the aid of Microsoft’s MFA.
  • In April 2022, HID Global partnered with Microsoft to Improve Certificate-Based Authentication. This partnership will combine HID’s smart credentials and credential management capabilities with Azure AD.
  • In May 2021, OneSpan announced that Belfius Bank had incorporated OneSpan Mobile Security Suite (MSS) into its mobile application. For the 1.5 million mobile customers of the bank, OneSpan’s technology offers biometric authentication, risk analysis, and other best practices for app security in the background.

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 47)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           1.2.1 INCLUSIONS AND EXCLUSIONS
    1.3 MARKET SCOPE 
           1.3.1 MARKET SEGMENTATION
           1.3.2 REGIONS COVERED
           1.3.3 YEARS CONSIDERED
    1.4 CURRENCY CONSIDERED 
           TABLE 1 USD EXCHANGE RATES, 2018–2022
    1.5 STAKEHOLDERS 
    1.6 SUMMARY OF CHANGES 
 
2 RESEARCH METHODOLOGY (Page No. - 53)
    2.1 RESEARCH DATA 
           FIGURE 1 MULTI-FACTOR AUTHENTICATION MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
           2.1.2 PRIMARY DATA
                    2.1.2.1 Breakdown of primary profiles
                               FIGURE 2 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION
                    2.1.2.2 Key insights from industry experts
    2.2 DATA TRIANGULATION AND MARKET BREAKUP 
           FIGURE 3 MULTI-FACTOR AUTHENTICATION MARKET: DATA TRIANGULATION
    2.3 MARKET SIZE ESTIMATION 
           FIGURE 4 MULTI-FACTOR AUTHENTICATION MARKET ESTIMATION: RESEARCH FLOW
           2.3.1 REVENUE ESTIMATES
                    FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY—APPROACH 1, SUPPLY-SIDE ANALYSIS: REVENUE OF HARDWARE, SOLUTIONS, AND SERVICES  FROM VENDORS
                    FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY—APPROACH 1, SUPPLY-SIDE ANALYSIS
                    FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY—APPROACH 2, BOTTOM-UP (SUPPLY SIDE): COLLECTIVE REVENUE FROM ALL HARDWARE, SOLUTIONS, AND SERVICES OF VENDORS
           2.3.2 DEMAND-SIDE ANALYSIS
                    FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY—APPROACH 3, TOP-DOWN  (DEMAND SIDE)
    2.4 MARKET FORECAST 
           TABLE 2 FACTOR ANALYSIS
    2.5 RECESSION IMPACT AND ASSUMPTIONS 
           2.5.1 RECESSION IMPACT
           2.5.2 ASSUMPTIONS
    2.6 LIMITATIONS 
           FIGURE 9 LIMITATIONS
 
3 EXECUTIVE SUMMARY (Page No. - 63)
    TABLE 3 MULTI-FACTOR AUTHENTICATION MARKET SIZE AND GROWTH RATE,  2017–2022 (USD MILLION, Y-O-Y %) 
    TABLE 4 MULTI-FACTOR AUTHENTICATION MARKET SIZE AND GROWTH RATE,  2023–2028 (USD MILLION, Y-O-Y %) 
    FIGURE 10 GLOBAL MULTI-FACTOR AUTHENTICATION MARKET SIZE AND Y-O-Y GROWTH RATE 
    FIGURE 11 NORTH AMERICA TO DOMINATE MARKET IN 2023 
 
4 PREMIUM INSIGHTS (Page No. - 66)
    4.1 BRIEF OVERVIEW OF MULTI-FACTOR AUTHENTICATION MARKET 
           FIGURE 12 GROWING INSTANCES OF DATA BREACHES, RISING ADOPTION OF BYOD TRENDS, AND STRINGENT REGULATIONS TO DRIVE MARKET
    4.2 MULTI-FACTOR AUTHENTICATION MARKET: BY AUTHENTICATION TYPE, 2023 
           FIGURE 13 PASSWORD-BASED AUTHENTICATION SEGMENT TO HOLD LARGER MARKET SHARE DURING FORECAST PERIOD
    4.3 MULTI-FACTOR AUTHENTICATION MARKET: BY COMPONENT, 2023 
           FIGURE 14 SOFTWARE SEGMENT TO HOLD LARGEST MARKET SIZE DURING FORECAST PERIOD
    4.4 MULTI-FACTOR AUTHENTICATION MARKET: BY MODEL TYPE, 2023 
           FIGURE 15 TWO-FACTOR AUTHENTICATION TO HOLD LARGEST MARKET SIZE DURING FORECAST PERIOD
    4.5 MULTI-FACTOR AUTHENTICATION MARKET SHARE: TOP THREE END-USE INDUSTRIES AND REGIONS, 2023 
           FIGURE 16 BFSI END-USE INDUSTRY AND NORTH AMERICA TO ACCOUNT FOR LARGEST MARKET SHARE IN 2023
    4.6 MARKET INVESTMENT SCENARIO 
           FIGURE 17 ASIA PACIFIC TO EMERGE AS BEST MARKET FOR INVESTMENTS IN NEXT FIVE YEARS
 
5 MARKET OVERVIEW AND INDUSTRY TRENDS (Page No. - 70)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 18 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES: MULTI-FACTOR AUTHENTICATION MARKET
           5.2.1 DRIVERS
                    5.2.1.1 Growing adoption of BYOD, CYOD, and WFH trends
                    5.2.1.2 Rising security breaches and sophisticated cyberattacks to lead to financial and reputational loss
                    5.2.1.3 Stringent government regulations to increase adoption of MFA solutions
                    5.2.1.4 Rising instances of identity theft and fraud
           5.2.2 RESTRAINTS
                    5.2.2.1 High cost and technical complexities
                    5.2.2.2 More time-consuming than two-factor authentication systems
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Proliferation of cloud-based MFA solutions and services
                    5.2.3.2 Growing adoption of interconnected devices in IoT environment
                    5.2.3.3 Increasing digital banking and online transactions
           5.2.4 CHALLENGES
                    5.2.4.1 Lack of awareness regarding MFA solutions
                    5.2.4.2 Scarcity of skilled cybersecurity professionals
    5.3 CASE STUDY ANALYSIS 
           5.3.1 PING IDENTITY IMPROVED BOOKING RECONCILIATION PROCESS OF PAMEIJER ACROSS ALL BUSINESS UNITS
           5.3.2 AMERIGAS DEPLOYED DUO SECURITY’S MFA TO ACHIEVE PCI-DSS COMPLIANCE
           5.3.3 BROWARD COLLEGE IMPLEMENTED ONELOGIN MULTI-FACTOR AUTHENTICATION TO OFFER ACCESS MANAGEMENT
           5.3.4 OKTA DELIVERED BLACKHAWK NETWORK CENTRALIZED, SCALABLE PLATFORM AND SAFEGUARDED BACKEND BY EXTENDING SSO AND MFA
    5.4 VALUE CHAIN ANALYSIS 
           FIGURE 19 MULTI-FACTOR AUTHENTICATION MARKET: VALUE CHAIN ANALYSIS
    5.5 ECOSYSTEM 
           FIGURE 20 MULTI-FACTOR AUTHENTICATION MARKET: ECOSYSTEM
    5.6 PORTER’S FIVE FORCES ANALYSIS 
           TABLE 5 PORTER’S FIVE FORCES ANALYSIS
           FIGURE 21 MULTI-FACTOR AUTHENTICATION MARKET: PORTER’S FIVE FORCES ANALYSIS
           5.6.1 THREAT OF NEW ENTRANTS
           5.6.2 THREAT OF SUBSTITUTES
           5.6.3 BARGAINING POWER OF SUPPLIERS
           5.6.4 BARGAINING POWER OF BUYERS
           5.6.5 INTENSITY OF COMPETITIVE RIVALRY
    5.7 PRICING ANALYSIS 
           5.7.1 AVERAGE SELLING PRICE TREND OF KEY PLAYER, BY OFFERING
                    TABLE 6 OKTA: PRICING ANALYSIS
                    TABLE 7 ONELOGIN: PRICING ANALYSIS
           5.7.2 INDICATIVE PRICING ANALYSIS, BY OFFERING
    5.8 TECHNOLOGY ANALYSIS 
           5.8.1 OUT-OF-BAND AUTHENTICATION
           5.8.2 BUILT-IN FINGERPRINT READERS
           5.8.3 BAKED-IN AUTHENTICATION
    5.9 PATENT ANALYSIS 
           FIGURE 22 LIST OF MAJOR PATENTS FOR MULTI-FACTOR AUTHENTICATION MARKET
           TABLE 8 LIST OF PATENTS IN MULTI-FACTOR AUTHENTICATION MARKET, 2023
    5.10 TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS/CLIENTS’ BUSINESSES 
           FIGURE 23 MULTI-FACTOR AUTHENTICATION MARKET: TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS/CLIENTS’ BUSINESSES
    5.11 TECHNOLOGY ROADMAP 
                    TABLE 9 MULTI-FACTOR AUTHENTICATION MARKET: TECHNOLOGY ROADMAP
    5.12 BUSINESS MODEL ANALYSIS 
                    TABLE 10 MULTI-FACTOR AUTHENTICATION MARKET: BUSINESS MODEL ANALYSIS
    5.13 EVOLUTION OF MULTI-FACTOR AUTHENTICATION 
    5.14 REGULATORY LANDSCAPE 
           5.14.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 11 LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
           5.14.2 CRIMINAL JUSTICE INFORMATION SYSTEM SECURITY POLICY
           5.14.3 PAYMENT CARD INDUSTRY DATA SECURITY STANDARD
           5.14.4 FFIEC AUTHENTICATION IN AN INTERNET BANKING ENVIRONMENT
           5.14.5 FAIR AND ACCURATE CREDIT TRANSACTION ACT
           5.14.6 IDENTITY THEFT RED FLAGS
           5.14.7 HEALTH INSURANCE PORTABILITY AND ACCOUNTABILITY ACT
           5.14.8 SARBANES-OXLEY ACT
           5.14.9 GRAMM-LEACH-BLILEY ACT
    5.15 HS CODES 
                    TABLE 12 EXPORT SCENARIO FOR HS CODE 8301, BY COUNTRY, 2022 (KG)
                    TABLE 13 IMPORT SCENARIO FOR HS CODE 8301, BY COUNTRY, 2022 (KG)
    5.16 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.16.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 24 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP  THREE END USERS
                    TABLE 14 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USERS
           5.16.2 BUYING CRITERIA
                    FIGURE 25 KEY BUYING CRITERIA FOR TOP THREE END USERS
                    TABLE 15 KEY BUYING CRITERIA FOR TOP THREE END USERS
    5.17 KEY CONFERENCES AND EVENTS, 2023–2024 
                    TABLE 16 MULTI-FACTOR AUTHENTICATION MARKET: LIST OF CONFERENCES AND  EVENTS, 2023–2024
 
6 MULTI-FACTOR AUTHENTICATION MARKET,  BY AUTHENTICATION TYPE (Page No. - 96)
    6.1 INTRODUCTION 
           6.1.1 AUTHENTICATION TYPE: MULTI-FACTOR AUTHENTICATION MARKET DRIVERS
                    FIGURE 26 PASSWORDLESS AUTHENTICATION SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
                    TABLE 17 MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE,  2017–2022 (USD MILLION)
                    TABLE 18 MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE,  2023–2028 (USD MILLION)
    6.2 PASSWORD-BASED AUTHENTICATION 
           6.2.1 EASY INTEGRATION OF PASSWORD-BASED AUTHENTICATION INTO VARIOUS SYSTEMS, APPLICATIONS, AND DEVICES TO DRIVE ITS ADOPTION
                    TABLE 19 PASSWORD-BASED AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET,  BY REGION, 2017–2022 (USD MILLION)
                    TABLE 20 PASSWORD-BASED AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET,  BY REGION, 2023–2028 (USD MILLION)
    6.3 PASSWORDLESS AUTHENTICATION 
           6.3.1 PASSWORDLESS AUTHENTICATION TO USE UNIQUE BIOMETRIC ATTRIBUTES AND ELIMINATE ISSUE OF REMEMBERING PASSWORDS
                    TABLE 21 PASSWORDLESS AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET,  BY REGION, 2017–2022 (USD MILLION)
                    TABLE 22 PASSWORDLESS AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET,  BY REGION, 2023–2028 (USD MILLION)
 
7 MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT (Page No. - 101)
    7.1 INTRODUCTION 
           7.1.1 COMPONENT: MULTI-FACTOR AUTHENTICATION MARKET DRIVERS
                    FIGURE 27 SOFTWARE SEGMENT TO HOLD LARGEST MARKET SIZE DURING FORECAST PERIOD
                    TABLE 23 MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2017–2022 (USD MILLION)
                    TABLE 24 MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
    7.2 HARDWARE 
           7.2.1 HARDWARE-BASED MFA METHODS TO PROVIDE ROBUST AUTHENTICATION AND SIGNIFICANTLY REDUCE RISK OF UNAUTHORIZED ACCESS
                    TABLE 25 HARDWARE: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION,  2017–2022 (USD MILLION)
                    TABLE 26 HARDWARE: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION,  2023–2028 (USD MILLION)
    7.3 SOFTWARE 
           7.3.1 MFA SOFTWARE TO HELP BUSINESSES COMPLY WITH REGULATORY NORMS WHILE SECURING THEIR CONFIDENTIAL DATA
                    TABLE 27 SOFTWARE: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION,  2017–2022 (USD MILLION)
                    TABLE 28 SOFTWARE: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION,  2023–2028 (USD MILLION)
    7.4 SERVICES 
           7.4.1 MFA SERVICES TO DEPLOY, EXECUTE, AND MAINTAIN MFA PLATFORMS IN ORGANIZATIONS
                    TABLE 29 SERVICES: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION,  2017–2022 (USD MILLION)
                    TABLE 30 SERVICES: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION,  2023–2028 (USD MILLION)
 
8 MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE (Page No. - 107)
    8.1 INTRODUCTION 
           8.1.1 MODEL TYPE: MULTI-FACTOR AUTHENTICATION MARKET DRIVERS
                    FIGURE 28 TWO-FACTOR AUTHENTICATION SEGMENT TO HOLD LARGEST MARKET SIZE DURING FORECAST PERIOD
                    TABLE 31 MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2017–2022 (USD MILLION)
                    TABLE 32 MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2023–2028 (USD MILLION)
    8.2 TWO-FACTOR AUTHENTICATION 
           8.2.1 NEED FOR ADDITIONAL LAYER OF SECURITY AND REMAIN COMPLIANT TO DRIVE ADOPTION OF TWO-FACTOR AUTHENTICATION
                    TABLE 33 TWO-FACTOR AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2017–2022 (USD MILLION)
                    TABLE 34 TWO-FACTOR AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2023–2028 (USD MILLION)
                    TABLE 35 TWO-FACTOR AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET, BY TYPE, 2017–2022 (USD MILLION)
                    TABLE 36 TWO-FACTOR AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET, BY TYPE, 2023–2028 (USD MILLION)
           8.2.2 SMART CARD WITH PIN
                    8.2.2.1 Need for high level of security and protect sensitive consumer and company data with smart cards and PINs to drive market
                               TABLE 37 TWO-FACTOR AUTHENTICATION: SMART CARD WITH PIN MARKET, BY REGION,  2017–2022 (USD MILLION)
                               TABLE 38 TWO-FACTOR AUTHENTICATION: SMART CARD WITH PIN MARKET, BY REGION,  2023–2028 (USD MILLION)
           8.2.3 SMART CARD WITH BIOMETRIC TECHNOLOGY
                    8.2.3.1 Smart cards with biometric technology to control access to buildings, secure areas, and IT systems
                               TABLE 39 TWO-FACTOR AUTHENTICATION: SMART CARD WITH BIOMETRIC TECHNOLOGY MARKET, BY REGION, 2017–2022 (USD MILLION)
                               TABLE 40 TWO-FACTOR AUTHENTICATION: SMART CARD WITH BIOMETRIC TECHNOLOGY MARKET, BY REGION, 2023–2028 (USD MILLION)
           8.2.4 BIOMETRIC TECHNOLOGY WITH PIN
                    8.2.4.1 Biometric technology with PIN to be used for various financial applications
                               TABLE 41 TWO-FACTOR AUTHENTICATION: BIOMETRIC TECHNOLOGY WITH PIN MARKET, BY REGION, 2017–2022 (USD MILLION)
                               TABLE 42 TWO-FACTOR AUTHENTICATION: BIOMETRIC TECHNOLOGY WITH PIN MARKET, BY REGION, 2023–2028 (USD MILLION)
           8.2.5 TWO-FACTOR BIOMETRIC TECHNOLOGY
                    8.2.5.1 Two-factor biometric technology to safeguard assets and maintain trust
                               TABLE 43 TWO-FACTOR AUTHENTICATION: TWO-FACTOR BIOMETRIC TECHNOLOGY MARKET,  BY REGION, 2017–2022 (USD MILLION)
                               TABLE 44 TWO-FACTOR AUTHENTICATION: TWO-FACTOR BIOMETRIC TECHNOLOGY MARKET,  BY REGION, 2023–2028 (USD MILLION)
           8.2.6 ONE-TIME PASSWORD WITH PIN
                    8.2.6.1 OTP with PIN to secure access to corporate systems and mobile apps
                               TABLE 45 TWO-FACTOR AUTHENTICATION: ONE-TIME PASSWORD WITH PIN MARKET, BY REGION, 2017–2022 (USD MILLION)
                               TABLE 46 TWO-FACTOR AUTHENTICATION: ONE-TIME PASSWORD WITH PIN MARKET, BY REGION, 2023–2028 (USD MILLION)
    8.3 THREE-FACTOR AUTHENTICATION 
           8.3.1 INCREASING CLOUD COMPUTING USAGE TO DRIVE ADOPTION OF THREE-FACTOR AUTHENTICATION
                    TABLE 47 THREE-FACTOR AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2017–2022 (USD MILLION)
                    TABLE 48 THREE-FACTOR AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2023–2028 (USD MILLION)
                    TABLE 49 THREE-FACTOR AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET, BY TYPE, 2017–2022 (USD MILLION)
                    TABLE 50 THREE-FACTOR AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET, BY TYPE, 2023–2028 (USD MILLION)
           8.3.2 SMART CARD WITH PIN AND BIOMETRIC TECHNOLOGY
                    8.3.2.1 High resilience to various forms of attacks, including phishing, credential theft, and identity fraud, to drive market
                               TABLE 51 THREE-FACTOR AUTHENTICATION: SMART CARD WITH PIN AND BIOMETRIC TECHNOLOGY MARKET, BY REGION, 2017–2022 (USD MILLION)
                               TABLE 52 THREE-FACTOR AUTHENTICATION: SMART CARD WITH PIN AND BIOMETRIC TECHNOLOGY MARKET, BY REGION, 2023–2028 (USD MILLION)
           8.3.3 SMART CARD WITH TWO-FACTOR BIOMETRIC TECHNOLOGY
                    8.3.3.1 Need for handling sensitive data in healthcare and finance and preventing data breaches to drive demand for smart card
                               TABLE 53 THREE-FACTOR AUTHENTICATION: SMART CARD WITH TWO-FACTOR BIOMETRIC TECHNOLOGY MARKET, BY REGION, 2017–2022 (USD MILLION)
                               TABLE 54 THREE-FACTOR AUTHENTICATION: SMART CARD WITH TWO-FACTOR BIOMETRIC TECHNOLOGY MARKET, BY REGION, 2023–2028 (USD MILLION)
           8.3.4 PIN WITH TWO-FACTOR BIOMETRIC TECHNOLOGY
                    8.3.4.1 Need for superior security, compliance with legal requirements, and durability against online threats to drive market
                               TABLE 55 THREE-FACTOR AUTHENTICATION: PIN WITH TWO-FACTOR BIOMETRIC TECHNOLOGY MARKET, BY REGION, 2017–2022 (USD MILLION)
                               TABLE 56 THREE-FACTOR AUTHENTICATION: PIN WITH TWO-FACTOR BIOMETRIC TECHNOLOGY MARKET, BY REGION, 2023–2028 (USD MILLION)
           8.3.5 THREE-FACTOR BIOMETRIC TECHNOLOGY
                    8.3.5.1 Three-factor biometric technology to impersonate legitimate users and reduce risk of identity theft
                               TABLE 57 THREE-FACTOR AUTHENTICATION: THREE-FACTOR BIOMETRIC TECHNOLOGY MARKET,  BY REGION, 2017–2022 (USD MILLION)
                               TABLE 58 THREE-FACTOR AUTHENTICATION: THREE-FACTOR BIOMETRIC TECHNOLOGY MARKET,  BY REGION, 2023–2028 (USD MILLION)
    8.4 FOUR-FACTOR AUTHENTICATION 
           8.4.1 NEED TO LEVERAGE FOUR DISTINCT AUTHENTICATION FACTORS TO VERIFY USER IDENTITY AND ENHANCE SECURITY TO UNPRECEDENTED LEVELS
                    TABLE 59 FOUR-FACTOR AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2017–2022 (USD MILLION)
                    TABLE 60 FOUR-FACTOR AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2023–2028 (USD MILLION)
    8.5 FIVE-FACTOR AUTHENTICATION 
           8.5.1 5FA TO OFFER HIGH LEVEL OF SECURITY TO SAFEGUARD DATA AND TECHNOLOGY
                    TABLE 61 FIVE-FACTOR AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2017–2022 (USD MILLION)
                    TABLE 62 FIVE-FACTOR AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2023–2028 (USD MILLION)
 
9 MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY (Page No. - 125)
    9.1 INTRODUCTION 
           9.1.1 END-USE INDUSTRY: MULTI-FACTOR AUTHENTICATION MARKET DRIVERS
                    FIGURE 29 BFSI SEGMENT TO HOLD LARGEST MARKET SIZE DURING FORECAST PERIOD
                    TABLE 63 MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2017–2022 (USD MILLION)
                    TABLE 64 MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
    9.2 BFSI 
           9.2.1 NEED TO PROTECT HIGHLY CONFIDENTIAL INFORMATION AND HELP SECURE GOVERNMENT DATA TO DRIVE MARKET
                    TABLE 65 BFSI: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2017–2022 (USD MILLION)
                    TABLE 66 BFSI: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2023–2028 (USD MILLION)
    9.3 GOVERNMENT 
           9.3.1 DIGITALIZATION OF GOVERNMENT AND DEFENSE PROCESSES AND SAFEGUARD GOVERNMENT DATA FROM BREACHES TO DRIVE MARKET
                    TABLE 67 GOVERNMENT: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION,  2017–2022 (USD MILLION)
                    TABLE 68 GOVERNMENT: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION,  2023–2028 (USD MILLION)
    9.4 TRAVEL & IMMIGRATION 
           9.4.1 MULTI-FACTOR AUTHENTICATION TO CAPTURE, MANAGE, AND APPLY IDENTITY DATA ACROSS DIGITAL CHANNELS
                    TABLE 69 TRAVEL & IMMIGRATION: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION,  2017–2022 (USD MILLION)
                    TABLE 70 TRAVEL & IMMIGRATION: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION,  2023–2028 (USD MILLION)
    9.5 MILITARY & DEFENSE 
           9.5.1 DEFENSE SEGMENT TO UTILIZE BIOMETRICS TO TACKLE CYBERATTACKS
                    TABLE 71 MILITARY & DEFENSE: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION,  2017–2022 (USD MILLION)
                    TABLE 72 MILITARY & DEFENSE: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION,  2023–2028 (USD MILLION)
    9.6 COMMERCIAL SECURITY 
           9.6.1 ORGANIZATIONS TO SAFEGUARD CLIENT DATA AND ASSETS WITH MULTI-FACTOR AUTHENTICATION
                    TABLE 73 COMMERCIAL SECURITY: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION,  2017–2022 (USD MILLION)
                    TABLE 74 COMMERCIAL SECURITY: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION,  2023–2028 (USD MILLION)
    9.7 HEALTHCARE 
           9.7.1 MULTI-FACTOR AUTHENTICATION SOLUTIONS TO ADDRESS DATA SECURITY, PATIENT SAFETY, AND PRODUCTIVITY
                    TABLE 75 HEALTHCARE: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION,  2017–2022 (USD MILLION)
                    TABLE 76 HEALTHCARE: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION,  2023–2028 (USD MILLION)
    9.8 IT & ITES 
           9.8.1 RAPID ADOPTION IN WFH POLICY AND FOCUS ON MAINTAINING SECURITY OF HYBRID IT ENVIRONMENTS TO DRIVE MARKET
                    TABLE 77 IT & ITES: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION,  2017–2022 (USD MILLION)
                    TABLE 78 IT & ITES: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION,  2023–2028 (USD MILLION)
    9.9 TELECOM 
           9.9.1 ADVENT OF 5G TECHNOLOGY AND INTERNET OF THINGS TO DRIVE MARKET
                    TABLE 79 TELECOM: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION,  2017–2022 (USD MILLION)
                    TABLE 80 TELECOM: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION,  2023–2028 (USD MILLION)
    9.10 MEDIA & ENTERTAINMENT 
           9.10.1 MULTI-FACTOR AUTHENTICATION TO SECURE VALUABLE INTELLECTUAL PROPERTY
                    TABLE 81 MEDIA & ENTERTAINMENT: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2017–2022 (USD MILLION)
                    TABLE 82 MEDIA & ENTERTAINMENT: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2023–2028 (USD MILLION)
    9.11 OTHER END-USE INDUSTRIES 
                    TABLE 83 OTHER END-USE INDUSTRIES: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION,  2017–2022 (USD MILLION)
                    TABLE 84 OTHER END-USE INDUSTRIES: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION,  2023–2028 (USD MILLION)
 
10 MULTI-FACTOR AUTHENTICATION MARKET, BY REGION (Page No. - 140)
     10.1 INTRODUCTION 
               FIGURE 30 ASIA PACIFIC TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
               TABLE 85 MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2017–2022 (USD MILLION)
               TABLE 86 MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2023–2028 (USD MILLION)
     10.2 NORTH AMERICA 
             10.2.1 NORTH AMERICA: MULTI-FACTOR AUTHENTICATION MARKET DRIVERS
             10.2.2 NORTH AMERICA: RECESSION IMPACT
             10.2.3 NORTH AMERICA: REGULATORY LANDSCAPE
                       FIGURE 31 NORTH AMERICA: MARKET SNAPSHOT
                       TABLE 87 NORTH AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION)
                       TABLE 88 NORTH AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION)
                       TABLE 89 NORTH AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2017–2022 (USD MILLION)
                       TABLE 90 NORTH AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2023–2028 (USD MILLION)
                       TABLE 91 NORTH AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2017–2022 (USD MILLION)
                       TABLE 92 NORTH AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2023–2028 (USD MILLION)
                       TABLE 93 NORTH AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY TWO-FACTOR AUTHENTICATION, 2017–2022 (USD MILLION)
                       TABLE 94 NORTH AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY TWO-FACTOR AUTHENTICATION, 2023–2028 (USD MILLION)
                       TABLE 95 NORTH AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY THREE-FACTOR AUTHENTICATION, 2017–2022 (USD MILLION)
                       TABLE 96 NORTH AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY THREE-FACTOR AUTHENTICATION, 2023–2028 (USD MILLION)
                       TABLE 97 NORTH AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2017–2022 (USD MILLION)
                       TABLE 98 NORTH AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                       TABLE 99 NORTH AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY COUNTRY,  2017–2022 (USD MILLION)
                       TABLE 100 NORTH AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY COUNTRY,  2023–2028 (USD MILLION)
             10.2.4 US
                       10.2.4.1 Presence of stringent laws, growing internet penetration, and government initiatives to adopt MFA to drive market
                       TABLE 101 US: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE,  2017–2022 (USD MILLION)
                       TABLE 102 US: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE,  2023–2028 (USD MILLION)
                       TABLE 103 US: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2017–2022 (USD MILLION)
                       TABLE 104 US: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2023–2028 (USD MILLION)
                       TABLE 105 US: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2017–2022 (USD MILLION)
                       TABLE 106 US: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2023–2028 (USD MILLION)
                       TABLE 107 US: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2017–2022 (USD MILLION)
                       TABLE 108 US: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
             10.2.5 CANADA
                       10.2.5.1 Increased occurrence of online fraud, terrorist attacks, and bad bot attacks to drive market
                                   TABLE 109 CANADA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE,  2017–2022 (USD MILLION)
                                   TABLE 110 CANADA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE,  2023–2028 (USD MILLION)
                                   TABLE 111 CANADA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2017–2022 (USD MILLION)
                                   TABLE 112 CANADA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2023–2028 (USD MILLION)
                                   TABLE 113 CANADA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2017–2022 (USD MILLION)
                                   TABLE 114 CANADA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2023–2028 (USD MILLION)
                                   TABLE 115 CANADA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2017–2022 (USD MILLION)
                                   TABLE 116 CANADA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
     10.3 EUROPE 
             10.3.1 EUROPE: MULTI-FACTOR AUTHENTICATION MARKET DRIVERS
             10.3.2 EUROPE: RECESSION IMPACT
             10.3.3 EUROPE: REGULATORY LANDSCAPE
                       TABLE 117 EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE,  2017–2022 (USD MILLION)
                       TABLE 118 EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE,  2023–2028 (USD MILLION)
                       TABLE 119 EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2017–2022 (USD MILLION)
                       TABLE 120 EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2023–2028 (USD MILLION)
                       TABLE 121 EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2017–2022 (USD MILLION)
                       TABLE 122 EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2023–2028 (USD MILLION)
                       TABLE 123 EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY TWO-FACTOR AUTHENTICATION, 2017–2022 (USD MILLION)
                       TABLE 124 EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY TWO-FACTOR AUTHENTICATION, 2023–2028 (USD MILLION)
                       TABLE 125 EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY THREE-FACTOR AUTHENTICATION, 2017–2022 (USD MILLION)
                       TABLE 126 EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY THREE-FACTOR AUTHENTICATION, 2023–2028 (USD MILLION)
                       TABLE 127 EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2017–2022 (USD MILLION)
                       TABLE 128 EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
                       TABLE 129 EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY COUNTRY,  2017–2022 (USD MILLION)
                       TABLE 130 EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY COUNTRY,  2023–2028 (USD MILLION)
             10.3.4 UK
                       10.3.4.1 Increasing identity fraud to boost adoption of MFA
                                   TABLE 131 UK: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE,  2017–2022 (USD MILLION)
                                   TABLE 132 UK: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE,  2023–2028 (USD MILLION)
                                   TABLE 133 UK: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2017–2022 (USD MILLION)
                                   TABLE 134 UK: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2023–2028 (USD MILLION)
                                   TABLE 135 UK: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2017–2022 (USD MILLION)
                                   TABLE 136 UK: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2023–2028 (USD MILLION)
                                   TABLE 137 UK: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2017–2022 (USD MILLION)
                                   TABLE 138 UK: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
             10.3.5 GERMANY
                       10.3.5.1 Rising innovative technologies and need to combat financial crimes to drive market
                                   TABLE 139 GERMANY: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE,  2017–2022 (USD MILLION)
                                   TABLE 140 GERMANY: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE,  2023–2028 (USD MILLION)
                                   TABLE 141 GERMANY: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2017–2022 (USD MILLION)
                                   TABLE 142 GERMANY: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2023–2028 (USD MILLION)
                                   TABLE 143 GERMANY: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2017–2022 (USD MILLION)
                                   TABLE 144 GERMANY: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2023–2028 (USD MILLION)
                                   TABLE 145 GERMANY: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2017–2022 (USD MILLION)
                                   TABLE 146 GERMANY: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
             10.3.6 FRANCE
                       10.3.6.1 Guidelines of French Data Protection Authority to adopt MFA to drive market
                                   TABLE 147 FRANCE: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE,  2017–2022 (USD MILLION)
                                   TABLE 148 FRANCE: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE,  2023–2028 (USD MILLION)
                                   TABLE 149 FRANCE: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2017–2022 (USD MILLION)
                                   TABLE 150 FRANCE: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2023–2028 (USD MILLION)
                                   TABLE 151 FRANCE: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2017–2022 (USD MILLION)
                                   TABLE 152 FRANCE: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2023–2028 (USD MILLION)
                                   TABLE 153 FRANCE: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2017–2022 (USD MILLION)
                                   TABLE 154 FRANCE: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
             10.3.7 ITALY
                       10.3.7.1 Consistent growth in cybersecurity and need to comply with GDPR to drive market
                                   TABLE 155 ITALY: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE,  2017–2022 (USD MILLION)
                                   TABLE 156 ITALY: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE,  2023–2028 (USD MILLION)
                                   TABLE 157 ITALY: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2017–2022 (USD MILLION)
                                   TABLE 158 ITALY: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2023–2028 (USD MILLION)
                                   TABLE 159 ITALY: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2017–2022 (USD MILLION)
                                   TABLE 160 ITALY: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2023–2028 (USD MILLION)
                                   TABLE 161 ITALY: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2017–2022 (USD MILLION)
                                   TABLE 162 ITALY: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
             10.3.8 REST OF EUROPE
                       TABLE 163 REST OF EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION)
                       TABLE 164 REST OF EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION)
                       TABLE 165 REST OF EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2017–2022 (USD MILLION)
                       TABLE 166 REST OF EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2023–2028 (USD MILLION)
                       TABLE 167 REST OF EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2017–2022 (USD MILLION)
                       TABLE 168 REST OF EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2023–2028 (USD MILLION)
                       TABLE 169 REST OF EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2017–2022 (USD MILLION)
                       TABLE 170 REST OF EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
     10.4 ASIA PACIFIC 
             10.4.1 ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET DRIVERS
             10.4.2 ASIA PACIFIC: RECESSION IMPACT
             10.4.3 ASIA PACIFIC: REGULATORY LANDSCAPE
                       FIGURE 32 ASIA PACIFIC: MARKET SNAPSHOT
                       TABLE 171 ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION)
                       TABLE 172 ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION)
                       TABLE 173 ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2017–2022 (USD MILLION)
                       TABLE 174 ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2023–2028 (USD MILLION)
                       TABLE 175 ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2017–2022 (USD MILLION)
                       TABLE 176 ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2023–2028 (USD MILLION)
                       TABLE 177 ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY TWO-FACTOR AUTHENTICATION, 2017–2022 (USD MILLION)
                       TABLE 178 ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY TWO-FACTOR AUTHENTICATION, 2023–2028 (USD MILLION)
                       TABLE 179 ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY THREE-FACTOR AUTHENTICATION, 2017–2022 (USD MILLION)
                       TABLE 180 ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY THREE-FACTOR AUTHENTICATION, 2023–2028 (USD MILLION)
                       TABLE 181 ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2017–2022 (USD MILLION)
                       TABLE 182 ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
                       TABLE 183 ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY COUNTRY,  2017–2022 (USD MILLION)
                       TABLE 184 ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY COUNTRY,  2023–2028 (USD MILLION)
             10.4.4 AUSTRALIA
                       10.4.4.1 Need to safeguard data, websites, and mobile applications and focus of Australian TPB to enhance its online portal with MFA to drive market
                                   TABLE 185 AUSTRALIA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE,  2017–2022 (USD MILLION)
                                   TABLE 186 AUSTRALIA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION)
                                   TABLE 187 AUSTRALIA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2017–2022 (USD MILLION)
                                   TABLE 188 AUSTRALIA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2023–2028 (USD MILLION)
                                   TABLE 189 AUSTRALIA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2017–2022 (USD MILLION)
                                   TABLE 190 AUSTRALIA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2023–2028 (USD MILLION)
                                   TABLE 191 AUSTRALIA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2017–2022 (USD MILLION)
                                   TABLE 192 AUSTRALIA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
             10.4.5 INDIA
                       10.4.5.1 Personal Data Protection Act to strengthen data privacy across all FIs to drive demand for MFA
                                   TABLE 193 INDIA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE,  2017–2022 (USD MILLION)
                                   TABLE 194 INDIA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE,  2023–2028 (USD MILLION)
                                   TABLE 195 INDIA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2017–2022 (USD MILLION)
                                   TABLE 196 INDIA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2023–2028 (USD MILLION)
                                   TABLE 197 INDIA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2017–2022 (USD MILLION)
                                   TABLE 198 INDIA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2023–2028 (USD MILLION)
                                   TABLE 199 INDIA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2017–2022 (USD MILLION)
                                   TABLE 200 INDIA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
             10.4.6 CHINA
                       10.4.6.1 Surge in mobile commerce and digital payment platforms to drive growth of MFA
                                   TABLE 201 CHINA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE,  2017–2022 (USD MILLION)
                                   TABLE 202 CHINA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE,  2023–2028 (USD MILLION)
                                   TABLE 203 CHINA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2017–2022 (USD MILLION)
                                   TABLE 204 CHINA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2023–2028 (USD MILLION)
                                   TABLE 205 CHINA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2017–2022 (USD MILLION)
                                   TABLE 206 CHINA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2023–2028 (USD MILLION)
                                   TABLE 207 CHINA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2017–2022 (USD MILLION)
                                   TABLE 208 CHINA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
             10.4.7 JAPAN
                       10.4.7.1 Strong technological base and focus on data protection and government support to drive market
                                   TABLE 209 JAPAN: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE,  2017–2022 (USD MILLION)
                                   TABLE 210 JAPAN: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE,  2023–2028 (USD MILLION)
                                   TABLE 211 JAPAN: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2017–2022 (USD MILLION)
                                   TABLE 212 JAPAN: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2023–2028 (USD MILLION)
                                   TABLE 213 JAPAN: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2017–2022 (USD MILLION)
                                   TABLE 214 JAPAN: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2023–2028 (USD MILLION)
                                   TABLE 215 JAPAN: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2017–2022 (USD MILLION)
                                   TABLE 216 JAPAN: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
             10.4.8 REST OF ASIA PACIFIC
                       TABLE 217 REST OF ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION)
                       TABLE 218 REST OF ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION)
                       TABLE 219 REST OF ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2017–2022 (USD MILLION)
                       TABLE 220 REST OF ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
                       TABLE 221 REST OF ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2017–2022 (USD MILLION)
                       TABLE 222 REST OF ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2023–2028 (USD MILLION)
                       TABLE 223 REST OF ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2017–2022 (USD MILLION)
                       TABLE 224 REST OF ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
     10.5 MIDDLE EAST & AFRICA 
             10.5.1 MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET DRIVERS
             10.5.2 MIDDLE EAST & AFRICA: RECESSION IMPACT
             10.5.3 MIDDLE EAST & AFRICA: REGULATORY LANDSCAPE
                       TABLE 225 MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION)
                       TABLE 226 MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION)
                       TABLE 227 MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2017–2022 (USD MILLION)
                       TABLE 228 MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
                       TABLE 229 MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2017–2022 (USD MILLION)
                       TABLE 230 MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2023–2028 (USD MILLION)
                       TABLE 231 MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY TWO-FACTOR AUTHENTICATION, 2017–2022 (USD MILLION)
                       TABLE 232 MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY TWO-FACTOR AUTHENTICATION, 2023–2028 (USD MILLION)
                       TABLE 233 MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY THREE-FACTOR AUTHENTICATION, 2017–2022 (USD MILLION)
                       TABLE 234 MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY THREE-FACTOR AUTHENTICATION, 2023–2028 (USD MILLION)
                       TABLE 235 MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2017–2022 (USD MILLION)
                       TABLE 236 MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                       TABLE 237 MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY COUNTRY,  2017–2022 (USD MILLION)
                       TABLE 238 MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
             10.5.4 UAE
                       10.5.4.1 Need to adopt modern low-friction authentication techniques to safeguard mixed workforces to drive market
                                   TABLE 239 UAE: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE,  2017–2022 (USD MILLION)
                                   TABLE 240 UAE: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE,  2023–2028 (USD MILLION)
                                   TABLE 241 UAE: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2017–2022 (USD MILLION)
                                   TABLE 242 UAE: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2023–2028 (USD MILLION)
                                   TABLE 243 UAE: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2017–2022 (USD MILLION)
                                   TABLE 244 UAE: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2023–2028 (USD MILLION)
                                   TABLE 245 UAE: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2017–2022 (USD MILLION)
                                   TABLE 246 UAE: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
             10.5.5 KSA
                       10.5.5.1 Need to secure digital identities to fuel adoption of MFA solutions
                                   TABLE 247 KSA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE,  2017–2022 (USD MILLION)
                                   TABLE 248 KSA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE,  2023–2028 (USD MILLION)
                                   TABLE 249 KSA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2017–2022 (USD MILLION)
                                   TABLE 250 KSA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2023–2028 (USD MILLION)
                                   TABLE 251 KSA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2017–2022 (USD MILLION)
                                   TABLE 252 KSA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2023–2028 (USD MILLION)
                                   TABLE 253 KSA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2017–2022 (USD MILLION)
                                   TABLE 254 KSA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
             10.5.6 REST OF MIDDLE EAST & AFRICA
                       TABLE 255 REST OF MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET,  BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION)
                       TABLE 256 REST OF MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET,  BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION)
                       TABLE 257 REST OF MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET,  BY COMPONENT, 2017–2022 (USD MILLION)
                       TABLE 258 REST OF MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET,  BY COMPONENT, 2023–2028 (USD MILLION)
                       TABLE 259 REST OF MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET,  BY MODEL TYPE, 2017–2022 (USD MILLION)
                       TABLE 260 REST OF MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2023–2028 (USD MILLION)
                       TABLE 261 REST OF MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET,  BY END-USE INDUSTRY, 2017–2022 (USD MILLION)
                       TABLE 262 REST OF MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET,  BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
     10.6 LATIN AMERICA 
             10.6.1 LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET DRIVERS
             10.6.2 LATIN AMERICA: RECESSION IMPACT
             10.6.3 LATIN AMERICA: REGULATORY LANDSCAPE
                       TABLE 263 LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION)
                       TABLE 264 LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION)
                       TABLE 265 LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2017–2022 (USD MILLION)
                       TABLE 266 LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2023–2028 (USD MILLION)
                       TABLE 267 LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2017–2022 (USD MILLION)
                       TABLE 268 LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2023–2028 (USD MILLION)
                       TABLE 269 LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY TWO-FACTOR AUTHENTICATION, 2017–2022 (USD MILLION)
                       TABLE 270 LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY TWO-FACTOR AUTHENTICATION, 2023–2028 (USD MILLION)
                       TABLE 271 LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY THREE-FACTOR AUTHENTICATION, 2017–2022 (USD MILLION)
                       TABLE 272 LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY THREE-FACTOR AUTHENTICATION, 2023–2028 (USD MILLION)
                       TABLE 273 LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2017–2022 (USD MILLION)
                       TABLE 274 LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                       TABLE 275 LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY COUNTRY,  2017–2022 (USD MILLION)
                       TABLE 276 LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY COUNTRY,  2023–2028 (USD MILLION)
             10.6.4 BRAZIL
                       10.6.4.1 Rising adoption of digital penetration and social media to propel market
                                   TABLE 277 BRAZIL: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE,  2017–2022 (USD MILLION)
                                   TABLE 278 BRAZIL: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE,  2023–2028 (USD MILLION)
                                   TABLE 279 BRAZIL: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2017–2022 (USD MILLION)
                                   TABLE 280 BRAZIL: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2023–2028 (USD MILLION)
                                   TABLE 281 BRAZIL: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2017–2022 (USD MILLION)
                                   TABLE 282 BRAZIL: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2023–2028 (USD MILLION)
                                   TABLE 283 BRAZIL: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2017–2022 (USD MILLION)
                                   TABLE 284 BRAZIL: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
             10.6.5 MEXICO
                       10.6.5.1 Rising social media and digital penetration to fuel demand for MFA solutions
                                   TABLE 285 MEXICO: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE,  2017–2022 (USD MILLION)
                                   TABLE 286 MEXICO: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE,  2023–2028 (USD MILLION)
                                   TABLE 287 MEXICO: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2017–2022 (USD MILLION)
                                   TABLE 288 MEXICO: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT,  2023–2028 (USD MILLION)
                                   TABLE 289 MEXICO: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2017–2022 (USD MILLION)
                                   TABLE 290 MEXICO: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE,  2023–2028 (USD MILLION)
                                   TABLE 291 MEXICO: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2017–2022 (USD MILLION)
                                   TABLE 292 MEXICO: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
             10.6.6 REST OF LATIN AMERICA
                       TABLE 293 REST OF LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION)
                       TABLE 294 REST OF LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION)
                       TABLE 295 REST OF LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2017–2022 (USD MILLION)
                       TABLE 296 REST OF LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
                       TABLE 297 REST OF LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2017–2022 (USD MILLION)
                       TABLE 298 REST OF LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2023–2028 (USD MILLION)
                       TABLE 299 REST OF LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2017–2022 (USD MILLION)
                       TABLE 300 REST OF LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
 
11 COMPETITIVE LANDSCAPE (Page No. - 229)
     11.1 KEY PLAYERS STRATEGIES 
     11.2 REVENUE ANALYSIS 
               FIGURE 33 HISTORICAL REVENUE ANALYSIS FOR KEY PLAYERS, 2020–2022 (USD BILLION)
     11.3 MARKET SHARE ANALYSIS 
               FIGURE 34 MARKET SHARE ANALYSIS, 2022
               TABLE 301 INTENSITY OF COMPETITIVE RIVALRY
     11.4 RANKING OF TOP MARKET PLAYERS 
               FIGURE 35 RANKING OF TOP MARKET PLAYERS
     11.5 COMPANY EVALUATION MATRIX 
             11.5.1 STARS
             11.5.2 EMERGING LEADERS
             11.5.3 PERVASIVE PLAYERS
             11.5.4 PARTICIPANTS
                       FIGURE 36 COMPANY EVALUATION MATRIX, 2023
             11.5.5 COMPANY FOOTPRINT
                       FIGURE 37 OVERALL COMPANY FOOTPRINT
     11.6 START-UP/SME EVALUATION MATRIX 
             11.6.1 PROGRESSIVE COMPANIES
             11.6.2 RESPONSIVE COMPANIES
             11.6.3 DYNAMIC COMPANIES
             11.6.4 STARTING BLOCKS
                       FIGURE 38 START-UP/SMES EVALUATION MATRIX, 2023
             11.6.5 COMPETITIVE BENCHMARKING
                       TABLE 302 LIST OF START-UPS/SMES
     11.7 GLOBAL SNAPSHOTS OF KEY MARKET PLAYERS AND THEIR HEADQUARTERS 
               FIGURE 39 REGIONAL SNAPSHOT
     11.8 VALUATION AND FINANCIAL METRICS OF VENDORS 
               FIGURE 40 VALUATION AND FINANCIAL METRICS OF MULTI-FACTOR AUTHENTICATION VENDORS
     11.9 COMPETITIVE SCENARIO 
             11.9.1 PRODUCT LAUNCHES
                       TABLE 303 MULTI-FACTOR AUTHENTICATION MARKET: PRODUCT LAUNCHES, 2023–2021
             11.9.2 DEALS
                       TABLE 304 MULTI-FACTOR AUTHENTICATION MARKET: DEALS, 2023–2021
 
12 COMPANY PROFILES (Page No. - 243)
(Business Overview, Products Offered, Recent Developments, MnM View Right to win, Strategic choices made, Weaknesses and competitive threats) *
     12.1 KEY PLAYERS 
             12.1.1 MICROSOFT
                       TABLE 305 MICROSOFT: COMPANY OVERVIEW
                       FIGURE 41 MICROSOFT: COMPANY SNAPSHOT
                       TABLE 306 MICROSOFT: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 307 MICROSOFT: PRODUCT LAUNCHES
                       TABLE 308 MICROSOFT: DEALS
             12.1.2 THALES GROUP
                       TABLE 309 THALES GROUP: COMPANY OVERVIEW
                       FIGURE 42 THALES GROUP: COMPANY SNAPSHOT
                       TABLE 310 THALES GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 311 THALES GROUP: PRODUCT LAUNCHES
                       TABLE 312 THALES GROUP: DEALS
             12.1.3 OKTA
                       TABLE 313 OKTA: COMPANY OVERVIEW
                       FIGURE 43 OKTA: COMPANY SNAPSHOT
                       TABLE 314 OKTA: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 315 OKTA: PRODUCT LAUNCHES
                       TABLE 316 OKTA: DEALS
             12.1.4 BROADCOM
                       TABLE 317 BROADCOM: COMPANY OVERVIEW
                       FIGURE 44 BROADCOM: COMPANY SNAPSHOT
                       TABLE 318 BROADCOM: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 319 BROADCOM: DEALS
             12.1.5 ONESPAN
                       TABLE 320 ONESPAN: COMPANY OVERVIEW
                       FIGURE 45 ONESPAN: COMPANY SNAPSHOT
                       TABLE 321 ONESPAN: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 322 ONESPAN: PRODUCT LAUNCHES
                       TABLE 323 ONESPAN: DEALS
             12.1.6 MICRO FOCUS
                       TABLE 324 MICRO FOCUS: COMPANY OVERVIEW
                       TABLE 325 MICRO FOCUS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 326 MICRO FOCUS: DEALS
             12.1.7 HID GLOBAL
                       TABLE 327 HID GLOBAL: COMPANY OVERVIEW
                       TABLE 328 HID GLOBAL: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 329 HID GLOBAL: PRODUCT LAUNCHES
                       TABLE 330 HID GLOBAL: DEALS
             12.1.8 CISCO
                       TABLE 331 CISCO: COMPANY OVERVIEW
                       FIGURE 46 CISCO: COMPANY SNAPSHOT
                       TABLE 332 CISCO: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 333 CISCO: PRODUCT LAUNCHES
                       TABLE 334 CISCO: DEALS
             12.1.9 PING IDENTITY
                       TABLE 335 PING IDENTITY: COMPANY OVERVIEW
                       TABLE 336 PING IDENTITY: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 337 PING IDENTITY: PRODUCT LAUNCHES
                       TABLE 338 PING IDENTITY: DEALS
             12.1.10 RSA SECURITY
                       TABLE 339 RSA SECURITY: COMPANY OVERVIEW
                       TABLE 340 RSA SECURITY: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 341 RSA SECURITY: DEALS
             12.1.11 ESET
             12.1.12 YUBICO
             12.1.13 FORGEROCK
             12.1.14 CYBERARK
             12.1.15 ONELOGIN
             12.1.16 SECUREAUTH
             12.1.17 ORACLE
             12.1.18 SALESFORCE
     12.2 OTHER KEY PLAYERS 
             12.2.1 SECRET DOUBLE OCTOPUS
             12.2.2 SILVERFORT
             12.2.3 TRUSONA
             12.2.4 FUSIONAUTH
             12.2.5 HYPR
             12.2.6 KEYLESS
             12.2.7 LUXCHAIN
*Details on Business Overview, Products Offered, Recent Developments, MnM View, Right to win, Strategic choices made, Weaknesses and competitive threats might not be captured in case of unlisted companies.
 
13 ADJACENT MARKETS (Page No. - 289)
     13.1 INTRODUCTION TO ADJACENT MARKETS 
               TABLE 342 ADJACENT MARKETS AND FORECASTS
     13.2 LIMITATIONS 
     13.3 ADJACENT MARKETS 
             13.3.1 IDENTITY AND ACCESS MANAGEMENT MARKET
                       TABLE 343 IDENTITY AND ACCESS MANAGEMENT MARKET, BY OFFERING,  2017–2022 (USD MILLION)
                       TABLE 344 IDENTITY AND ACCESS MANAGEMENT MARKET, BY OFFERING,  2023–2028 (USD MILLION)
                       TABLE 345 IDENTITY AND ACCESS MANAGEMENT MARKET, BY SOLUTION,  2017–2022 (USD MILLION)
                       TABLE 346 IDENTITY AND ACCESS MANAGEMENT MARKET, BY SOLUTION,  2023–2028 (USD MILLION)
             13.3.2 DIGITAL IDENTITY SOLUTIONS MARKET
                       TABLE 347 DIGITAL IDENTITY SOLUTIONS MARKET, BY OFFERING, 2017–2022 (USD MILLION)
                       TABLE 348 DIGITAL IDENTITY SOLUTIONS MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                       TABLE 349 DIGITAL IDENTITY SOLUTIONS MARKET, BY SOLUTION TYPE, 2017–2022 (USD MILLION)
                       TABLE 350 DIGITAL IDENTITY SOLUTIONS MARKET, BY SOLUTION TYPE, 2023–2028 (USD MILLION)
 
14 APPENDIX (Page No. - 292)
     14.1 DISCUSSION GUIDE 
     14.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     14.3 CUSTOMIZATION OPTIONS 
     14.4 RELATED REPORTS 
     14.5 AUTHOR DETAILS 

The study involved significant activities in estimating the current market size for the MFA market. Exhaustive secondary research was done to collect information on the MFA industry. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain using primary research. Different approaches, such as top-down and bottom-up, were employed to estimate the total market size. After that, the market breakup and data triangulation procedures were used to estimate the market size of the segments and subsegments of the MFA market.

Secondary Research

In the secondary research process, various secondary sources were referred to for identifying and collecting information regarding the study. The secondary sources included annual reports, press releases, investor presentations of MFA solution and service vendors, forums, certified publications, and whitepapers. The secondary research was mainly used to obtain key information about the industry’s supply chain, the total pool of key players, market classification and segmentation according to industry trends to the bottom-most level, regional markets, and key developments from both needs- and technology-oriented perspectives, all of which were further validated by primary sources.

Primary Research

Various primary sources from the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report in the primary research process. The primary sources from the supply side included various industry experts, including Chief Executive Officers (CEOs), Vice Presidents (VPs), marketing directors, technology and innovation directors, and related key executives from various key companies and organizations operating in the MFA market.

In the market engineering process, top-down and bottom-up approaches and several data triangulation methods were extensively used to perform market estimation and market forecasting for the overall market segments and subsegments listed in this report. The complete market engineering process was extensive qualitative and quantitative analysis to record key information/insights throughout the report.

Following is the breakup of the primary study:

Multi-Factor Authentication Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Top-down and bottom-up approaches were used to estimate and validate the size of the global MFA market and the size of various other dependent sub-segments in the overall MFA market. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their revenue contributions in respective regions were determined through primary and secondary research. The entire procedure included the study of the annual and financial reports of the top market players, and extensive interviews were conducted for key insights from the industry leaders, such as CEOs, VPs, directors, and marketing executives. All percentage splits and breakups were determined using secondary sources and verified through primary sources.

Approach 1:

Multi-Factor Authentication Market Size, and Share

Approach 2:

Multi-Factor Authentication Market Size, and Share

Data Triangulation

The market was split into several segments and subsegments after arriving at the overall market size using the market size estimation processes explained above. The data triangulation and market breakup procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Market Definition

According to MarketsandMarkets, MFA is an authentication method that requires the user to provide two or more verification factors to access resources, such as an application, online account, or a Virtual Private Network (VPN). Similarly, according to OneLogin, MFA is an authentication method that requires the user to provide two or more verification factors to gain access to a resource such as an application, online account, or a VPN.

Key Stakeholders

  • MFA vendors
  • Consulting firms
  • Third-party vendors
  • Mobile application developers
  • Cloud platform providers
  • Investors and venture capitalists
  • System Integrators (SIs)
  • Technology providers
  • Suppliers, distributors, and contractors

Report Objectives

  • To describe and forecast the global Multi-Factor Authentication (MFA) market by offering, software type, deployment mode, application, vertical, and region.
  • To forecast the market size of five main regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
  • To analyze the subsegments of the market concerning individual growth trends, prospects, and contributions to the overall market
  • To provide detailed information on significant factors (drivers, restraints, opportunities, and challenges) influencing the market’s growth
  • To analyze the opportunities in the market for stakeholders and provide the competitive landscape details of major players
  • To profile the key players of the MFA market and comprehensively analyze their market shares and core competencies
  • Track and analyze competitive developments, such as mergers and acquisitions (M&A), new product developments, and partnerships and collaborations in the market.

Customization Options

With the given market data, MarketsandMarkets offers customizations based on company-specific needs. The following customization options are available for the report:

Geographic Analysis

  • Further breakup of the Asia Pacific market into countries contributing 75% to the regional market size
  • Further breakup of the North American market into countries contributing 75% to the regional market size
  • Further breakup of the Latin American market into countries contributing 75% to the regional market size
  • Further breakup of the Middle Eastern and African market into countries contributing 75% to the regional market size
  • Further breakup of the European market into countries contributing 75% to the regional market size

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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Report Code
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Published ON
Oct, 2023
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