Multi-Factor Authentication Market Bigger Than Expected | Micro Focus, Broadcom, Microsoft, OneSpan, Okta

Global Multi-Factor Authentication Market Size study, byAuthentication type (Password Authentication, Passwordless Authentication) by Model Type (Two-factor authentication ,Multi-factor with three-factor authentication, Multi-factor with four-factor authentication, Multi-factor with five-factor authentication ) by Component (Solutions, Hardware, Services)by Organization size (Large Enterprises, SMEs) by End user (BFSI, Government, Travel and Immigration, Military and Defence, Commercial Security, IT, Telecommunications, Healthcare, Media and Entertainment, Other Verticals)and Regional Forecasts 2021-2027  , Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Multi-Factor Authentication market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Multi-Factor Authentication market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region

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Key Segments Studied in the Global Multi-Factor Authentication Market

Global Multi-Factor Authentication Market to reach USD 27.32 billion by 2027.

 Global Multi-Factor AuthenticationMarket is valued approximately USD 9.55 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 16.2% over the forecast period 2021-2027.  MFA is an encryption method that enables a person to give two or more verification factors in order to get access to a resource such as an application, an online account, or a VPN. A strong security information and event management strategy must include multi-factor authentication.  MFA needs one or more extra verification criteria in combination to a login credentials, which reduces the risk of a successful security breach. The increasing occurrences of cyberattacks and data leaks across enterprises has been one of the key factors driving product demand. As an example Micro Focus announced NetIQ Universal Policy Administrator (UPA) in November 2020, which provides centralized data security with uniform permission and authentication. This next-generation campaign strategy gives IT security professionals a consolidated policy security solutions that boosts operational efficiency and cyber resilience. The industry is also growing due to increased investments in cloud technologies and enterprise mobility. For instance, Thales launched Fast Identity Online 2.0 (FIDO2) in March 2020, which enables customers to access Microsoft Azure AD cloud apps, sub domains, and all linked digital services without a password. This will eventually assist enterprises and organizations in moving to the cloud in a secure manner. However, lack of MFA understanding can lead to blunders, which can cost businesses a lot of money. Also, multi-factor authentication differs from traditional authentication mechanisms, which rely on login credentials confirmation and recognition. It also has advanced biometric security mechanisms for identifying people, such as iris recognition, face recognition, fingerprinting, and speech recognition algorithms, which proves to be a business opportunity.

The MFA market is anticipated to have the largest market share in North America. The continent’s market growth is likely to be fueled by early acceptance of MFA and the existence of multiple providers offering MFA solutions. Because of a relatively high extent of performance of  choose your own device (CYOD) and  bring your own device (BYOD) practices, as well as mobility solutions, which are skyrocketing cyber-attacks and security breaches, the Asia-Pacific region is anticipated to witness the fastest continent in the multifactor authentication market.

Major market player included in this report are:

  • Micro Focus
  • Broadcom
  • Microsoft
  • OneSpan
  • Okta
  • Thales
  • RSA Security
  • Duo Security
  • Ping Identity
  • HID Global

 

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

ByAuthentication type:

  • Password Authentication
  • Passwordless Authentication

By Model Type:

  • Two-factor authentication
  • Multi-factor with three-factor authentication
  • Multi-factor with four-factor authentication
  • Multi-factor with five-factor authentication

By Component:

  • Solutions
  • Hardware
  • Services

By Organization size:

  • Large Enterprises
  • SMEs

By End user:

  • BFSI
  • Government
  • Travel and Immigration
  • Military and Defence
  • Commercial Security
  • IT
  • Telecommunication
  • Healthcare
  • Media and Entertainment
  • Other verticals

 

Our market research provides vital intelligence on market size, business trends, industry structure, market share, and market forecasts that are essential to developing business plans and strategy.

A combination of factors, including COVID-19 containment situation, end-use market recovery & Recovery Timeline of 2020/ 2021

covid-19 scenario Market Behavior/ Level of Risk and Opportunity End Industry Behavior/ Opportunity Assessment Expected Industry Recovery Timeline Business Impact Horizon
Opening of Economy by Q3 2020 xx xx xx xx
Recovery – Opening of Economy extended till Q4 2020 / Q1 2021 xx xx xx xx

Under COVID-19 Outbreak Impact Analysis:
We analyzed industry trends in the context of COVID-19. We analyzed the impact of COVID-19 on the product industry chain based on the upstream and downstream markets. We analyze the impact of COVID-19 on various regions and major countries.
The impact of COVID-19 on the future development of the industry is pointed out.

Study Explore :

  • Market Behavior/ Level of Risk and Opportunity
  • End Industry Behavior/ Opportunity Assessment
  • Expected Industry Recovery Timeline

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Each study, more than 100+ pages, is packed with tables, charts and insightful narrative including coverage on:

  • Market size
  • Product segments – size and forecasts
  • Market segments – size and forecasts
  • Market share of leading manufacturers
  • Relevant industry trends
  • Industry structure
  • Company profiles of industry participants
  • Market environment
  • Trade flows

 

Geographical Breakdown: The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery path of Covid 19 for all regions, key developed countries and major emerging markets.

 

Countries: Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam

In-Depth Qualitative COVID 19 Outbreak Impact Analysis Include Identification And Investigation Of The Following Aspects: Market Structure, Growth Drivers, Restraints and Challenges, Emerging Product Trends & Market Opportunities, Porter’s Fiver Forces. The report also inspects the financial standing of the leading companies, which includes gross profit, revenue generation, sales volume, sales revenue, manufacturing cost, individual growth rate, and other financial ratios. The report basically gives information about the Market trends, growth factors, limitations, opportunities, challenges, future forecasts, and details about all the key market players.

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Key questions answered: Study Explore COVID 19 Outbreak Impact Analysis

 

The study objectives of this report are:

  • To study and analyze the global market size (value & volume) by company, key regions/countries, products and application, history data, and forecast to 2025.
  • To understand the structure of market by identifying its various subsegments.
  • To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
  • Focuses on the key global manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
  • To analyze the growth trends, future prospects, and their contribution to the total market.
  • To project the value and volume of submarkets, with respect to key regions (along with their respective key countries).
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
  • To strategically profile the key players and comprehensively analyze their growth strategies.

 

The Study Explore COVID 19 Outbreak Impact Analysis

 

  • What should be entry strategies, countermeasures to economic impact, and marketing channels?
  • What are market dynamics?
  • What are challenges and opportunities?
  • What is economic impact on market?
  • What is current market status? What’s market competition in this industry, both company, and country wise? What’s market analysis by taking applications and types in consideration?

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Key Points Covered in Multi-Factor Authentication Market Report:

Chapter 1, About Executive Summary to describe Definition, Specifications and Classification of Multi-Factor Authentication market, Applications, Market Segment by Regions North America, Europe or Asia;
Chapter 2, objective of the study.
Chapter 3, to display Research methodology and techniques.
Chapter 4 and 5, to show the Overall Market Analysis, segmentation analysis, characteristics;
Chapter 6 and 7, to show the Market size, share and forecast; Five forces analysis (bargaining Power of buyers/suppliers), Threats to new entrants and market condition;
Chapter 8 and 9, to show analysis by regional segmentation, comparison, leading countries and opportunities; Regional Marketing Type Analysis, Supply Chain Analysis
Chapter 10, focus on identifying the key industry influencer’s, overview of decision framework accumulated through Industry experts and strategic decision makers;
Chapter 11 and 12, Market Trend Analysis, Drivers, Challenges by consumer behavior, Marketing Channels and demand & supply.
Chapter 13 and 14, describe about the vendor landscape (classification and Market Positioning)
Chapter 15, deals with Multi-Factor Authentication  Market sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source.

……..and view more in complete table of Contents

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