Global Multi-Factor Authentication Market Snapshot to 2027 – High Online Transaction Volume Presents Opportunities – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The report “Global Multi-Factor Authentication Market (2022-2027) by Authentication Type, Model Type, Components, Organization Size, End User, Geography, Competitive Analysis, and Covid-19 Impact with Ansoff analysis” has been added to from ResearchAndMarkets.com offer.

Global Multi-Factor Authentication Market is estimated at USD 13.4 Billion in 2022 and is projected to reach USD 26.84 Billion by 2027, growing at a CAGR of 14.90%

Market dynamics are forces that are impacting pricing and stakeholder behaviors in the global Multi-Factor Authentication market. These forces create price signals that result from changes in the supply and demand curves for a given product or service. The forces of market dynamics can be related to macro-economic and micro-economic factors.

There are dynamic market forces other than price, demand and supply. Human emotions can also drive decisions, influence the market and create price signals. As market dynamics impact supply and demand curves, policymakers aim to determine how best to use various financial tools to stem various strategies aimed at accelerating growth and reducing risk.

Competitive quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and assess the position of companies based on their industry position score and market performance score. The tool uses various factors to classify players into four categories. Some of these factors considered for analysis are financial performance over the past 3 years, growth strategies, innovation score, new product launches, investments, market share growth, etc

Ansoff analysis

The report presents a detailed analysis of the Ansoff Matrix for the global Multi-Factor Authentication Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design business growth strategies. The matrix can be used to assess approaches in four strategies viz. Market development, market penetration, product development and diversification.

The matrix is ​​also used for risk analysis to understand the risk associated with each approach. The analyst analyzes the global multi-factor authentication market using the Ansoff Matrix to provide the best approaches a company can take to improve its position in the market. Based on the SWOT analysis conducted on the industry and industry players, the analyst has designed appropriate strategies for market growth.

Why buy this report?

  • The report offers a comprehensive assessment of the global Multi-Factor Authentication Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and market size projections. Projections are calculated using proven research methodologies.

  • The report has been compiled through extensive primary and secondary research. The main research is done through interviews, surveys and observations of renowned personnel in the industry.

  • The report includes in-depth market analysis using Porter’s 5 forces model and Ansoff’s matrix. Additionally, the impact of Covid-19 on the market is also presented in the report.

  • The report also includes the regulatory scenario in the industry, which will help you to make an informed decision. The report discusses the major regulatory bodies and major rules and regulations imposed on this industry across various geographies.

  • The report also contains competitive analysis using Positioning Quadrants, the analyst’s proprietary competitive positioning tool.

Market dynamics

Drivers

  • Growing adoption of BYOD, CYOD and WFH trends

  • Increase in security breaches and sophisticated cyberattacks resulting in financial and reputational losses

  • Strict government regulations to increase adoption of MFA solutions

  • Increase in cases of identity theft and fraud

Constraints

  • High costs and technical complexities in implementing MFA solutions

  • Increased Response Time in Higher Order Authentication Models

Opportunities

  • Proliferation of cloud-based MFA solutions and services

  • Growing adoption of interconnected devices in the IoT environment

  • High volume of online transactions

Challenges

  • Lack of awareness of the MFA among companies

  • Scarcity of qualified cybersecurity professionals

Market segmentation

The global multi-factor authentication market is segmented on the basis of authentication type, model type, components, organization size, end user, and geography.

  • By authentication type, the market is categorized into password-based authentication and passwordless authentication.

  • By model type, the market is categorized into two-factor authentication, multi-factor with three-factor authentication, multi-factor with four-factor authentication, and multi-factor with five-factor authentication.

  • By components, the market is categorized into solutions, hardware, and services.

  • By organization size, the market is categorized into large enterprises and SMEs.

  • By end-user, the market is categorized into BFSI, government, travel & immigration, military & defense, commercial security, IT, telecommunications, healthcare, media & entertainment, and other verticals (education, retail, and e-commerce).

  • By geography, the market is categorized into Americas, Europe, Middle East & Africa, and Asia-Pacific.

Companies cited

  • Broadcom

  • Cisco

  • CyberArk

  • Duo Security

  • ESET

  • ForgeRock

  • MergeAuth

  • HIDDEN global

  • HYPR

  • Keyless

  • Luxchain

  • Micro focus

  • Microsoft

  • Okta

  • OneLogin

  • OneSpan

  • Oracle

  • Ping identity

  • RSA Security

  • Selling power

  • Double secret octopus

  • SecureAuth

  • silverfort

  • Thales

  • Trusona

For more information about this report visit https://www.researchandmarkets.com/r/pbpghv

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