Global Multi-Factor Authentication Market: Trends and Forecast (2022-2027) – Yahoo Finance UK



Report Scope: The scope of the report includes an overview from the global MFA market and an analysis of global marketplace trends, with data from 2021 (the base year) and estimates for 2022 through 2027, with projections of CAGR for the forecast period.

New York, Nov. 21, 2022 (GLOBE NEWSWIRE) — Reportlinker. com announces the release associated with the report “Global Multi-Factor Authentication Market: Trends and Forecast (2022-2027)” –
Revenue forecasts for this period are segmented based on component, authentication model type, organization size, industry and geography.

This statement also includes a discussion of technological, regulatory and competitive elements as well as economic trends affecting the market. It explains the major drivers plus regional dynamics of the worldwide MFA market and current trends within the business.

This record concludes along with detailed profiles of the main vendors in the global market.

Report Includes:
– 50 data tables and 27 additional furniture
— A comprehensive summary of the global market for multi-factor authentication (MFA) process
: Analyses from the global marketplace trends, with historic revenue data with regard to 2021, estimations for 2022, market predictions for 2023 and 2025, and projections of compound annual growth rates (CAGRs) through 2027
– Coverage of the technological, economic, and business considerations from the global multi-factor authentication market, with analyses and development forecasts over the next few years (2022-2027)
— Estimation of the actual market size and revenue prediction for multi-factor authentication marketplace, and corresponding market share analysis based on element, type associated with authentication design, organization size, end-user market, and geographic region
– Highlights from the emerging technology styles, opportunities plus gaps estimating demand regarding global multi-factor authentication market, and impact of COVID-19 on the progress of this marketplace
: Identification of the companies best positioned to meet this demand owing to or in conjunction with their proprietary technologies, product launches, M& A deals, and other market strategic advantages
– In-depth information (facts plus figures) concerning major marketplace dynamics, technology advancements, value chain analysis, and competing environment of the leading market players
– Number of published patents and patent applications intended for MFA systems across various regions
– Descriptive company information of the particular leading marketplace players, including Broadcom Inc., Entrust Corp., Microsoft Corp., Oracle Corp., RSA Security LLC, SecureAuth Corp. and Yubico AB

The need for MFA, requiring additional proof of identity beyond a simple username and password is gaining widespread acceptance, worldwide. The rising number of identification thefts plus breaches, as well as the increased use associated with IoT/BYOD devices, are driving up requirement for MFA.

Face recognition, voice evaluation and iris recognition are usually used by organizations to authenticate and verify employees. Post pandemic, there has been the dramatic increase in cyber-based attacks boosting demand for MFA solutions.

MFA offers better security preparedness, reducing the risk of identity compromise by because much since 99. 9% over passwords, alone. Hackers use compromised identities in order to gain a foothold within the organization, avoiding detection for an average of 100 days. With more than 300 million fraudulent sign-in attempts targeting Microsoft cloud services every day, the Ms Group Program Manager to get Identity Protection and Protection stated that enabling a good MFA solution blocks 99. 9% associated with these unauthorized login efforts.

Strong MFA offers high assurance factors: fast identity online (FIDO) security keys and smart cards to authenticate users. Strong MFA schemes apply the multi-layered approach.

Data analytics determine which accounts and transactions require extra scrutiny plus which could be simplified without introducing additional risk.

The growing adoption of MFA simply by enterprises in various industries is expected to drive the market’s growth, positively. Financial organizations are facing the reality that customer experience, from registration to login, preferences and beyond, is the new battleground.

Companies respond by adopting authentication technology that improve the experience. Adaptive MFA, for instance, establishes policies for high-risk interactions, setting minimal authentication requirements for more routine interactions.

The BFSI industry is using it pertaining to core banking, trade finance, international payment and online banking. MFA is common in other industries (healthcare, retail and segments that need in order to secure
IoT devices).

The next generation associated with MFA mechanisms combine impregnable security plus ease of use, ensuring that customers have the frictionless experience while preventing hackers through finding and exploiting loopholes. North America balances for the largest market share from the worldwide MFA market, followed by Europe and Asia Pacific.

Key market participants include Broadcom Inc., Duo Security Incorporation., Entrust Corp., ForgeRock Inc., Thales DIS, HID Worldwide Corp., Microsof company Corp., Okta Inc., OneLogin Inc., OneSpan Inc., Oracle Corp., Ping Identity Corp., RSA Safety LLC, SecureAuth Corp. plus Yubico ABDOMINAL, among others.
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