How big is the Multi-factor Authentication Market?

The Multi-factor Authentication Market size is expected to reach USD 18.12 billion in 2024 and grow at a CAGR of 16.5% to reach USD 38.90 billion by 2029. Read More

What is the current Multi-factor Authentication Market size?

In 2024, the Multi-factor Authentication Market size is expected to reach USD 18.12 billion. Read More

Who are the key players in Multi-factor Authentication Market?

Yubico AB, Giesecke+Devrient GmbH, Thetis, GoTrustid Inc. and Thales are the major companies operating in the Multi-factor Authentication Market. Read More

Which is the fastest growing region in Multi-factor Authentication Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Multi-factor Authentication Market?

In 2024, the North America accounts for the largest market share in Multi-factor Authentication Market. Read More

What years does this Multi-factor Authentication Market cover, and what was the market size in 2023?

In 2023, the Multi-factor Authentication Market size was estimated at USD 15.13 billion. The report covers the Multi-factor Authentication Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Multi-factor Authentication Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Multi-Factor Authentication Market - MFA Companies, Analysis & Size

Multi-factor Authentication Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Multi-Factor Authentication Market Report is Segmented by Offering Type (Hardware [Token, Biometric Devices, and Other Devices], Software [Authenticator Solutions and Mobile Apps], and Services), Authentication Type (Two-Factor Authentication, Three-Factor Authentication, Four-Factor Authentication, and Other Types of Authentication), End-User Industry (Banking and Financial Institutions, Cryptocurrency, Technology-Based Companies [SaaS and IT Service Vendors], Government [Federal, State, and Local Entities (Including System Integrators)], Healthcare and Pharmaceutical, Retail and E-Commerce, Process-Based Applications [Energy and Manufacturing], and Other End-User Industries [Education and Immigration]), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The Report Offers Market Sizes and Forecasts in Terms of Value (USD) for all the Above Segments.

Multi-factor Authentication Industry Overview

The multi-factor authentication market is fragmented due to the presence of both global players and small and medium-sized enterprises. Some of the major players in the market are Yubico AB, Giesecke+Devrient GmbH, Thetis, GoTrustid Inc., and Thales. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain sustainable competitive advantage.

February 2024 - Giesecke+Devrient bolstered its digital portfolio in financial platforms by increasing its stake in software firm Netcetera. This move aims to enhance Giesecke+Devrient's offerings in digital payments and banking, paving the way for the company to introduce MFA-based solutions to the financial sector, thereby strengthening its market presence.
November 2023 - Okta Inc. teamed up with Trio, a mobile device management (MDM) provider. This collaboration empowers Trio to deliver a holistic solution for device management and security across workplaces of all sizes. This partnership is poised to amplify Okta's footprint in the MFA market, aligning with its strategic emphasis on identity access management solutions.