조사회사 : MarketsandMarkets (마켓츠앤마켓츠) 출판년월 : 2023년10월
Multi-Factor Authentication Market – Global Forecast to 2028
다요소 인증 (MFA) 시장 : 인증 유형(비밀번호 기반 인증, 비밀번호가 없는 인증), 구성 요소(하드웨어, 소프트웨어, 서비스), 모델 유형, 최종 사용자 산업 및 지역별 – 2028년까지의 세계 예측
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
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Report Overview
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 MFA market is propelled by key factors shaping its growth trajectory. These include rising security breaches and sophisticated cyberattacks leading to financial and reputational loss. Furthermore, the scarcity of skilled cybersecurity professionals may hinder market growth.
“By end-user industry, BFSI industry holds the largest market size.”
The BFSI industry is at the forefront of adopting the latest technologies related to MFA as it holds highly confidential information, such as the financial data of customers, user IDs, passwords, and other personal information. The industry is an early adopter of cutting-edge MFA solutions as they possess highly sensitive financial data. Government mandates such as the Personal Information Protection and Electronic Documents Act (PIPEDA), Gramm-Leach-Bliley Act (GLBA), Federal Financial Institutions Examination Council (FFIEC), along with standards that include Payment Card Industry Data Security Standard (PCI DSS), and Sarbanes–Oxley Act (SOX), require financial institutions to ensure protection from cyber criminals. Such regulations mandate the use of MFA in the BFSI industry to increase security. Moreover, the increased need for digitalization with the rise in online banking services, eCommerce activities, and stringent regulatory compliance are expected to drive the MFA market growth.
“By model type, four-factor authentication segment to grow at highest CAGR during the forecast period.”
An authentication system is highly secure when the user provides many identification factors. Earlier, single-factor authentication was usually accomplished by providing “something you know,” such as a password or PIN. The fourth factor is most referred to as location (where you are) but could also be a matter of time, or in some people’s opinion, even a performance, an exhibition, or even other people.
Four-factor authentication is achieved by requiring possession, location, a biometric, and a knowledge factor or by requiring location, a biometric, and two knowledge factors. Additional security parameters have encouraged companies to adopt such solutions to avoid cyberattacks. The four-factor authentication is expected to be one of the most promising technologies because of its sophisticated authentication and unbreakable security design.
“By region, North America holds the largest market size.”
North America leads the global MFA market in terms of the presence of the world’s most significant number of MFA vendors. North America is the most advanced region regarding security technology adoption and infrastructure. The major growth drivers for this region are the widespread adherence to data compliance regulations and cloud deployments. Various security-related regulatory compliances control the overall protection of the communication infrastructures in the North American region. Moreover, due to the high adoption of cloud-based applications in North America, cyberattacks are increasing and becoming more sophisticated. Hence, industries in the region are increasingly implementing extensive MFA solutions. 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.
Breakdown of primaries
The break-up of the primaries is as follows:
• By Company Type: Tier 1 – 40%, Tier 2 – 35%, and Tier 3 – 25%
• By Designation: C-level – 40%, Director-35%, & other– 25%
• By Region: North America – 30%, Europe – 20%, Asia Pacific – 45%, rest of World-5%
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). The study includes an in-depth competitive analysis of the key players in the MFA market, their company profiles, recent developments, and key market strategies.
Research Coverage
The report segments the MFA market and forecasts its size by Authentication Type (Password-Based, Passwordless), Component (Hardware, Software, Services), by Model Type (Two-factor authentication, Three-factor authentication, Four-factor authentication, Five-factor authentication), by End-user Industry (BFSI, Government, Travel & Immigration, Military & Defense, Commercial Security, Healthcare, IT & ITeS, Telecom, Media & Entertainment, Other End-user Industry), and Region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America).
The study also includes an in-depth competitive analysis of the market’s key players, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall MFA market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
• Analysis of key drivers (Growing adoption of BYOD, CYOD, and WFH trends, Rising security breaches and sophisticated cyberattacks leading to financial and reputational loss, Stringent government regulations to increase the adoption of MFA solutions, Rising instances of identity theft and fraud), restraints (High cost and technical complexities in implementing MFA solutions, Increasing response time in higher-order authentication model), opportunities (Proliferation of cloud-based MFA solutions and services, Rising adoption of interconnected devices in the IoT environment, High volume of online transactions) and challenges (Lack of awareness related to MFA among enterprises, Scarcity of skilled cybersecurity professionals)
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the MFA market.
• Market Development: Comprehensive information about lucrative markets – the report analyses the MFA market across varied regions.
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the MFA market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Microsoft (US), Thales (France), Okta (US), Broadcom (US), OneSpan (US), Micro Focus (UK), HID Global (US), Cisco (US), Ping Identity (US), RSA Security (US) and among others in the MFA market strategies.
Table of Contents
1 INTRODUCTION 47
1.1 STUDY OBJECTIVES 47
1.2 MARKET DEFINITION 47
1.2.1 INCLUSIONS AND EXCLUSIONS 48
1.3 MARKET SCOPE 49
1.3.1 MARKET SEGMENTATION 49
1.3.2 REGIONS COVERED 50
1.3.3 YEARS CONSIDERED 50
1.4 CURRENCY CONSIDERED 51
TABLE 1 USD EXCHANGE RATES, 2018–2022 51
1.5 STAKEHOLDERS 51
1.6 SUMMARY OF CHANGES 52
2 RESEARCH METHODOLOGY 53
2.1 RESEARCH DATA 53
FIGURE 1 MULTI-FACTOR AUTHENTICATION MARKET: RESEARCH DESIGN 53
2.1.1 SECONDARY DATA 54
2.1.2 PRIMARY DATA 54
2.1.2.1 Breakdown of primary profiles 55
FIGURE 2 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION 55
2.1.2.2 Key insights from industry experts 55
2.2 DATA TRIANGULATION AND MARKET BREAKUP 56
FIGURE 3 MULTI-FACTOR AUTHENTICATION MARKET: DATA TRIANGULATION 56
2.3 MARKET SIZE ESTIMATION 56
FIGURE 4 MULTI-FACTOR AUTHENTICATION MARKET ESTIMATION: RESEARCH FLOW 57
2.3.1 REVENUE ESTIMATES 58
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY—APPROACH 1, SUPPLY-SIDE ANALYSIS: REVENUE OF HARDWARE, SOLUTIONS, AND SERVICES FROM VENDORS 58
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY—APPROACH 1, SUPPLY-SIDE ANALYSIS 59
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY—APPROACH 2, BOTTOM-UP (SUPPLY SIDE): COLLECTIVE REVENUE FROM ALL HARDWARE, SOLUTIONS, AND SERVICES OF VENDORS 59
2.3.2 DEMAND-SIDE ANALYSIS 60
FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY—APPROACH 3, TOP-DOWN (DEMAND SIDE) 60
2.4 MARKET FORECAST 60
TABLE 2 FACTOR ANALYSIS 60
2.5 RECESSION IMPACT AND ASSUMPTIONS 61
2.5.1 RECESSION IMPACT 61
2.5.2 ASSUMPTIONS 62
2.6 LIMITATIONS 62
FIGURE 9 LIMITATIONS 62
3 EXECUTIVE SUMMARY 63
TABLE 3 MULTI-FACTOR AUTHENTICATION MARKET SIZE AND GROWTH RATE, 2017–2022 (USD MILLION, Y-O-Y %) 63
TABLE 4 MULTI-FACTOR AUTHENTICATION MARKET SIZE AND GROWTH RATE, 2023–2028 (USD MILLION, Y-O-Y %) 64
FIGURE 10 GLOBAL MULTI-FACTOR AUTHENTICATION MARKET SIZE AND Y-O-Y GROWTH RATE 64
FIGURE 11 NORTH AMERICA TO DOMINATE MARKET IN 2023 65
4 PREMIUM INSIGHTS 66
4.1 BRIEF OVERVIEW OF MULTI-FACTOR AUTHENTICATION MARKET 66
FIGURE 12 GROWING INSTANCES OF DATA BREACHES, RISING ADOPTION OF BYOD TRENDS, AND STRINGENT REGULATIONS TO DRIVE MARKET 66
4.2 MULTI-FACTOR AUTHENTICATION MARKET: BY AUTHENTICATION TYPE, 2023 67
FIGURE 13 PASSWORD-BASED AUTHENTICATION SEGMENT TO HOLD LARGER MARKET SHARE DURING FORECAST PERIOD 67
4.3 MULTI-FACTOR AUTHENTICATION MARKET: BY COMPONENT, 2023 67
FIGURE 14 SOFTWARE SEGMENT TO HOLD LARGEST MARKET SIZE DURING FORECAST PERIOD 67
4.4 MULTI-FACTOR AUTHENTICATION MARKET: BY MODEL TYPE, 2023 68
FIGURE 15 TWO-FACTOR AUTHENTICATION TO HOLD LARGEST MARKET SIZE DURING FORECAST PERIOD 68
4.5 MULTI-FACTOR AUTHENTICATION MARKET SHARE: TOP THREE END-USE INDUSTRIES AND REGIONS, 2023 68
FIGURE 16 BFSI END-USE INDUSTRY AND NORTH AMERICA TO ACCOUNT FOR LARGEST MARKET SHARE IN 2023 68
4.6 MARKET INVESTMENT SCENARIO 69
FIGURE 17 ASIA PACIFIC TO EMERGE AS BEST MARKET FOR INVESTMENTS IN NEXT FIVE YEARS 69
5 MARKET OVERVIEW AND INDUSTRY TRENDS 70
5.1 INTRODUCTION 70
5.2 MARKET DYNAMICS 70
FIGURE 18 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES: MULTI-FACTOR AUTHENTICATION MARKET 70
5.2.1 DRIVERS 71
5.2.1.1 Growing adoption of BYOD, CYOD, and WFH trends 71
5.2.1.2 Rising security breaches and sophisticated cyberattacks to lead to financial and reputational loss 71
5.2.1.3 Stringent government regulations to increase adoption of MFA solutions 71
5.2.1.4 Rising instances of identity theft and fraud 72
5.2.2 RESTRAINTS 72
5.2.2.1 High cost and technical complexities 72
5.2.2.2 More time-consuming than two-factor authentication systems 73
5.2.3 OPPORTUNITIES 73
5.2.3.1 Proliferation of cloud-based MFA solutions and services 73
5.2.3.2 Growing adoption of interconnected devices in IoT environment 73
5.2.3.3 Increasing digital banking and online transactions 74
5.2.4 CHALLENGES 74
5.2.4.1 Lack of awareness regarding MFA solutions 74
5.2.4.2 Scarcity of skilled cybersecurity professionals 74
5.3 CASE STUDY ANALYSIS 75
5.3.1 PING IDENTITY IMPROVED BOOKING RECONCILIATION PROCESS OF PAMEIJER ACROSS ALL BUSINESS UNITS 75
5.3.2 AMERIGAS DEPLOYED DUO SECURITY’S MFA TO ACHIEVE PCI-DSS COMPLIANCE 75
5.3.3 BROWARD COLLEGE IMPLEMENTED ONELOGIN MULTI-FACTOR AUTHENTICATION TO OFFER ACCESS MANAGEMENT 76
5.3.4 OKTA DELIVERED BLACKHAWK NETWORK CENTRALIZED, SCALABLE PLATFORM AND SAFEGUARDED BACKEND BY EXTENDING SSO AND MFA 77
5.4 VALUE CHAIN ANALYSIS 78
FIGURE 19 MULTI-FACTOR AUTHENTICATION MARKET: VALUE CHAIN ANALYSIS 78
5.5 ECOSYSTEM 79
FIGURE 20 MULTI-FACTOR AUTHENTICATION MARKET: ECOSYSTEM 79
5.6 PORTER’S FIVE FORCES ANALYSIS 79
TABLE 5 PORTER’S FIVE FORCES ANALYSIS 79
FIGURE 21 MULTI-FACTOR AUTHENTICATION MARKET: PORTER’S FIVE FORCES ANALYSIS 80
5.6.1 THREAT OF NEW ENTRANTS 80
5.6.2 THREAT OF SUBSTITUTES 81
5.6.3 BARGAINING POWER OF SUPPLIERS 81
5.6.4 BARGAINING POWER OF BUYERS 81
5.6.5 INTENSITY OF COMPETITIVE RIVALRY 81
5.7 PRICING ANALYSIS 82
5.7.1 OKTA 82
5.7.2 ONELOGIN 82
5.8 TECHNOLOGY ANALYSIS 83
5.8.1 OUT-OF-BAND AUTHENTICATION 83
5.8.2 BUILT-IN FINGERPRINT READERS 83
5.8.3 BAKED-IN AUTHENTICATION 83
5.9 PATENT ANALYSIS 84
FIGURE 22 LIST OF MAJOR PATENTS FOR MULTI-FACTOR AUTHENTICATION MARKET 84
TABLE 6 LIST OF PATENTS IN MULTI-FACTOR AUTHENTICATION MARKET, 2023 85
5.10 TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS/CLIENTS’ BUSINESSES 86
FIGURE 23 MULTI-FACTOR AUTHENTICATION MARKET: TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS/CLIENTS’ BUSINESSES 86
5.11 TECHNOLOGY ROADMAP 86
TABLE 7 MULTI-FACTOR AUTHENTICATION MARKET: TECHNOLOGY ROADMAP 86
5.12 BUSINESS MODEL ANALYSIS 87
TABLE 8 MULTI-FACTOR AUTHENTICATION MARKET: BUSINESS MODEL ANALYSIS 87
5.13 EVOLUTION OF MULTI-FACTOR AUTHENTICATION 88
5.14 REGULATORY LANDSCAPE 89
5.14.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 89
TABLE 9 LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 89
5.14.2 CRIMINAL JUSTICE INFORMATION SYSTEM SECURITY POLICY 90
5.14.3 PAYMENT CARD INDUSTRY DATA SECURITY STANDARD 90
5.14.4 FFIEC AUTHENTICATION IN AN INTERNET BANKING ENVIRONMENT 90
5.14.5 FAIR AND ACCURATE CREDIT TRANSACTION ACT 90
5.14.6 IDENTITY THEFT RED FLAGS 90
5.14.7 HEALTH INSURANCE PORTABILITY AND ACCOUNTABILITY ACT 91
5.14.8 SARBANES-OXLEY ACT 91
5.14.9 GRAMM-LEACH-BLILEY ACT 91
5.15 HS CODES 92
TABLE 10 EXPORT SCENARIO FOR HS CODE 8301, BY COUNTRY, 2022 (KG) 92
TABLE 11 IMPORT SCENARIO FOR HS CODE 8301, BY COUNTRY, 2022 (KG) 92
5.16 KEY STAKEHOLDERS AND BUYING CRITERIA 93
5.16.1 KEY STAKEHOLDERS IN BUYING PROCESS 93
FIGURE 24 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USERS 93
TABLE 12 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USERS 93
5.16.2 BUYING CRITERIA 94
FIGURE 25 KEY BUYING CRITERIA FOR TOP THREE END USERS 94
TABLE 13 KEY BUYING CRITERIA FOR TOP THREE END USERS 94
5.17 KEY CONFERENCES AND EVENTS, 2023–2024 95
TABLE 14 MULTI-FACTOR AUTHENTICATION MARKET: LIST OF CONFERENCES AND EVENTS, 2023–2024 95
6 MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE 96
6.1 INTRODUCTION 97
6.1.1 AUTHENTICATION TYPE: MULTI-FACTOR AUTHENTICATION MARKET DRIVERS 97
FIGURE 26 PASSWORDLESS AUTHENTICATION SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD 97
TABLE 15 MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION) 98
TABLE 16 MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION) 98
6.2 PASSWORD-BASED AUTHENTICATION 98
6.2.1 EASY INTEGRATION OF PASSWORD-BASED AUTHENTICATION INTO VARIOUS SYSTEMS, APPLICATIONS, AND DEVICES TO DRIVE ITS ADOPTION 98
TABLE 17 PASSWORD-BASED AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2017–2022 (USD MILLION) 99
TABLE 18 PASSWORD-BASED AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2023–2028 (USD MILLION) 99
6.3 PASSWORDLESS AUTHENTICATION 99
6.3.1 PASSWORDLESS AUTHENTICATION TO USE UNIQUE BIOMETRIC ATTRIBUTES AND ELIMINATE ISSUE OF REMEMBERING PASSWORDS 99
TABLE 19 PASSWORDLESS AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2017–2022 (USD MILLION) 100
TABLE 20 PASSWORDLESS AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2023–2028 (USD MILLION) 100
7 MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT 101
7.1 INTRODUCTION 102
7.1.1 COMPONENT: MULTI-FACTOR AUTHENTICATION MARKET DRIVERS 102
FIGURE 27 SOFTWARE SEGMENT TO HOLD LARGEST MARKET SIZE DURING FORECAST PERIOD 102
TABLE 21 MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2017–2022 (USD MILLION) 103
TABLE 22 MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 103
7.2 HARDWARE 103
7.2.1 HARDWARE-BASED MFA METHODS TO PROVIDE ROBUST AUTHENTICATION AND SIGNIFICANTLY REDUCE RISK OF UNAUTHORIZED ACCESS 103
TABLE 23 HARDWARE: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2017–2022 (USD MILLION) 104
TABLE 24 HARDWARE: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2023–2028 (USD MILLION) 104
7.3 SOFTWARE 104
7.3.1 MFA SOFTWARE TO HELP BUSINESSES COMPLY WITH REGULATORY NORMS WHILE SECURING THEIR CONFIDENTIAL DATA 104
TABLE 25 SOFTWARE: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2017–2022 (USD MILLION) 105
TABLE 26 SOFTWARE: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2023–2028 (USD MILLION) 105
7.4 SERVICES 105
7.4.1 MFA SERVICES TO DEPLOY, EXECUTE, AND MAINTAIN MFA PLATFORMS IN ORGANIZATIONS 105
TABLE 27 SERVICES: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2017–2022 (USD MILLION) 106
TABLE 28 SERVICES: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2023–2028 (USD MILLION) 106
8 MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE 107
8.1 INTRODUCTION 108
8.1.1 MODEL TYPE: MULTI-FACTOR AUTHENTICATION MARKET DRIVERS 108
FIGURE 28 TWO-FACTOR AUTHENTICATION SEGMENT TO HOLD LARGEST MARKET SIZE DURING FORECAST PERIOD 109
TABLE 29 MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2017–2022 (USD MILLION) 109
TABLE 30 MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2023–2028 (USD MILLION) 109
8.2 TWO-FACTOR AUTHENTICATION 110
8.2.1 NEED FOR ADDITIONAL LAYER OF SECURITY AND REMAIN COMPLIANT TO DRIVE ADOPTION OF TWO-FACTOR AUTHENTICATION 110
TABLE 31 TWO-FACTOR AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2017–2022 (USD MILLION) 110
TABLE 32 TWO-FACTOR AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2023–2028 (USD MILLION) 110
TABLE 33 TWO-FACTOR AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET, BY TYPE, 2017–2022 (USD MILLION) 111
TABLE 34 TWO-FACTOR AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET, BY TYPE, 2023–2028 (USD MILLION) 111
8.2.2 SMART CARD WITH PIN 111
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 111
TABLE 35 TWO-FACTOR AUTHENTICATION: SMART CARD WITH PIN MARKET, BY REGION, 2017–2022 (USD MILLION) 112
TABLE 36 TWO-FACTOR AUTHENTICATION: SMART CARD WITH PIN MARKET, BY REGION, 2023–2028 (USD MILLION) 112
8.2.3 SMART CARD WITH BIOMETRIC TECHNOLOGY 112
8.2.3.1 Smart cards with biometric technology to control access to buildings, secure areas, and IT systems 112
TABLE 37 TWO-FACTOR AUTHENTICATION: SMART CARD WITH BIOMETRIC TECHNOLOGY MARKET, BY REGION, 2017–2022 (USD MILLION) 113
TABLE 38 TWO-FACTOR AUTHENTICATION: SMART CARD WITH BIOMETRIC TECHNOLOGY MARKET, BY REGION, 2023–2028 (USD MILLION) 113
8.2.4 BIOMETRIC TECHNOLOGY WITH PIN 113
8.2.4.1 Biometric technology with PIN to be used for various financial applications 113
TABLE 39 TWO-FACTOR AUTHENTICATION: BIOMETRIC TECHNOLOGY WITH PIN MARKET, BY REGION, 2017–2022 (USD MILLION) 114
TABLE 40 TWO-FACTOR AUTHENTICATION: BIOMETRIC TECHNOLOGY WITH PIN MARKET, BY REGION, 2023–2028 (USD MILLION) 114
8.2.5 TWO-FACTOR BIOMETRIC TECHNOLOGY 114
8.2.5.1 Two-factor biometric technology to safeguard assets and maintain trust 114
TABLE 41 TWO-FACTOR AUTHENTICATION: TWO-FACTOR BIOMETRIC TECHNOLOGY MARKET, BY REGION, 2017–2022 (USD MILLION) 115
TABLE 42 TWO-FACTOR AUTHENTICATION: TWO-FACTOR BIOMETRIC TECHNOLOGY MARKET, BY REGION, 2023–2028 (USD MILLION) 115
8.2.6 ONE-TIME PASSWORD WITH PIN 115
8.2.6.1 OTP with PIN to secure access to corporate systems and mobile apps 115
TABLE 43 TWO-FACTOR AUTHENTICATION: ONE-TIME PASSWORD WITH PIN MARKET, BY REGION, 2017–2022 (USD MILLION) 116
TABLE 44 TWO-FACTOR AUTHENTICATION: ONE-TIME PASSWORD WITH PIN MARKET, BY REGION, 2023–2028 (USD MILLION) 116
8.3 THREE-FACTOR AUTHENTICATION 116
8.3.1 INCREASING CLOUD COMPUTING USAGE TO DRIVE ADOPTION OF THREE-FACTOR AUTHENTICATION 116
TABLE 45 THREE-FACTOR AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2017–2022 (USD MILLION) 117
TABLE 46 THREE-FACTOR AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2023–2028 (USD MILLION) 117
TABLE 47 THREE-FACTOR AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET, BY TYPE, 2017–2022 (USD MILLION) 117
TABLE 48 THREE-FACTOR AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET, BY TYPE, 2023–2028 (USD MILLION) 118
8.3.2 SMART CARD WITH PIN AND BIOMETRIC TECHNOLOGY 118
8.3.2.1 High resilience to various forms of attacks, including phishing, credential theft, and identity fraud, to drive market 118
TABLE 49 THREE-FACTOR AUTHENTICATION: SMART CARD WITH PIN AND BIOMETRIC TECHNOLOGY MARKET, BY REGION, 2017–2022 (USD MILLION) 118
TABLE 50 THREE-FACTOR AUTHENTICATION: SMART CARD WITH PIN AND BIOMETRIC TECHNOLOGY MARKET, BY REGION, 2023–2028 (USD MILLION) 119
8.3.3 SMART CARD WITH TWO-FACTOR BIOMETRIC TECHNOLOGY 119
8.3.3.1 Need for handling sensitive data in healthcare and finance and preventing data breaches to drive demand for smart card 119
TABLE 51 THREE-FACTOR AUTHENTICATION: SMART CARD WITH TWO-FACTOR BIOMETRIC TECHNOLOGY MARKET, BY REGION, 2017–2022 (USD MILLION) 119
TABLE 52 THREE-FACTOR AUTHENTICATION: SMART CARD WITH TWO-FACTOR BIOMETRIC TECHNOLOGY MARKET, BY REGION, 2023–2028 (USD MILLION) 120
8.3.4 PIN WITH TWO-FACTOR BIOMETRIC TECHNOLOGY 120
8.3.4.1 Need for superior security, compliance with legal requirements, and durability against online threats to drive market 120
TABLE 53 THREE-FACTOR AUTHENTICATION: PIN WITH TWO-FACTOR BIOMETRIC TECHNOLOGY MARKET, BY REGION, 2017–2022 (USD MILLION) 120
TABLE 54 THREE-FACTOR AUTHENTICATION: PIN WITH TWO-FACTOR BIOMETRIC TECHNOLOGY MARKET, BY REGION, 2023–2028 (USD MILLION) 121
8.3.5 THREE-FACTOR BIOMETRIC TECHNOLOGY 121
8.3.5.1 Three-factor biometric technology to impersonate legitimate users and reduce risk of identity theft 121
TABLE 55 THREE-FACTOR AUTHENTICATION: THREE-FACTOR BIOMETRIC TECHNOLOGY MARKET, BY REGION, 2017–2022 (USD MILLION) 121
TABLE 56 THREE-FACTOR AUTHENTICATION: THREE-FACTOR BIOMETRIC TECHNOLOGY MARKET, BY REGION, 2023–2028 (USD MILLION) 122
8.4 FOUR-FACTOR AUTHENTICATION 122
8.4.1 NEED TO LEVERAGE FOUR DISTINCT AUTHENTICATION FACTORS TO VERIFY USER IDENTITY AND ENHANCE SECURITY TO UNPRECEDENTED LEVELS 122
TABLE 57 FOUR-FACTOR AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2017–2022 (USD MILLION) 122
TABLE 58 FOUR-FACTOR AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2023–2028 (USD MILLION) 123
8.5 FIVE-FACTOR AUTHENTICATION 123
8.5.1 5FA TO OFFER HIGH LEVEL OF SECURITY TO SAFEGUARD DATA AND TECHNOLOGY 123
TABLE 59 FIVE-FACTOR AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2017–2022 (USD MILLION) 123
TABLE 60 FIVE-FACTOR AUTHENTICATION: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2023–2028 (USD MILLION) 124
9 MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY 125
9.1 INTRODUCTION 126
9.1.1 END-USE INDUSTRY: MULTI-FACTOR AUTHENTICATION MARKET DRIVERS 126
FIGURE 29 BFSI SEGMENT TO HOLD LARGEST MARKET SIZE DURING FORECAST PERIOD 128
TABLE 61 MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2017–2022 (USD MILLION) 128
TABLE 62 MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 129
9.2 BFSI 129
9.2.1 NEED TO PROTECT HIGHLY CONFIDENTIAL INFORMATION AND HELP SECURE GOVERNMENT DATA TO DRIVE MARKET 129
TABLE 63 BFSI: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2017–2022 (USD MILLION) 130
TABLE 64 BFSI: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2023–2028 (USD MILLION) 130
9.3 GOVERNMENT 130
9.3.1 DIGITALIZATION OF GOVERNMENT AND DEFENSE PROCESSES AND SAFEGUARD GOVERNMENT DATA FROM BREACHES TO DRIVE MARKET 130
TABLE 65 GOVERNMENT: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2017–2022 (USD MILLION) 131
TABLE 66 GOVERNMENT: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2023–2028 (USD MILLION) 131
9.4 TRAVEL & IMMIGRATION 131
9.4.1 MULTI-FACTOR AUTHENTICATION TO CAPTURE, MANAGE, AND APPLY IDENTITY DATA ACROSS DIGITAL CHANNELS 131
TABLE 67 TRAVEL & IMMIGRATION: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2017–2022 (USD MILLION) 132
TABLE 68 TRAVEL & IMMIGRATION: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2023–2028 (USD MILLION) 132
9.5 MILITARY & DEFENSE 132
9.5.1 DEFENSE SEGMENT TO UTILIZE BIOMETRICS TO TACKLE CYBERATTACKS 132
TABLE 69 MILITARY & DEFENSE: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2017–2022 (USD MILLION) 133
TABLE 70 MILITARY & DEFENSE: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2023–2028 (USD MILLION) 133
9.6 COMMERCIAL SECURITY 133
9.6.1 ORGANIZATIONS TO SAFEGUARD CLIENT DATA AND ASSETS WITH MULTI-FACTOR AUTHENTICATION 133
TABLE 71 COMMERCIAL SECURITY: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2017–2022 (USD MILLION) 134
TABLE 72 COMMERCIAL SECURITY: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2023–2028 (USD MILLION) 134
9.7 HEALTHCARE 134
9.7.1 MULTI-FACTOR AUTHENTICATION SOLUTIONS TO ADDRESS DATA SECURITY, PATIENT SAFETY, AND PRODUCTIVITY 134
TABLE 73 HEALTHCARE: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2017–2022 (USD MILLION) 135
TABLE 74 HEALTHCARE: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2023–2028 (USD MILLION) 135
9.8 IT & ITES 135
9.8.1 RAPID ADOPTION IN WFH POLICY AND FOCUS ON MAINTAINING SECURITY OF HYBRID IT ENVIRONMENTS TO DRIVE MARKET 135
TABLE 75 IT & ITES: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2017–2022 (USD MILLION) 136
TABLE 76 IT & ITES: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2023–2028 (USD MILLION) 136
9.9 TELECOM 137
9.9.1 ADVENT OF 5G TECHNOLOGY AND INTERNET OF THINGS TO DRIVE MARKET 137
TABLE 77 TELECOM: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2017–2022 (USD MILLION) 137
TABLE 78 TELECOM: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2023–2028 (USD MILLION) 137
9.10 MEDIA & ENTERTAINMENT 138
9.10.1 MULTI-FACTOR AUTHENTICATION TO SECURE VALUABLE INTELLECTUAL PROPERTY 138
TABLE 79 MEDIA & ENTERTAINMENT: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2017–2022 (USD MILLION) 138
TABLE 80 MEDIA & ENTERTAINMENT: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2023–2028 (USD MILLION) 138
9.11 OTHER END-USE INDUSTRIES 139
TABLE 81 OTHER END-USE INDUSTRIES: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2017–2022 (USD MILLION) 139
TABLE 82 OTHER END-USE INDUSTRIES: MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2023–2028 (USD MILLION) 139
10 MULTI-FACTOR AUTHENTICATION MARKET, BY REGION 140
10.1 INTRODUCTION 141
FIGURE 30 ASIA PACIFIC TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 141
TABLE 83 MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2017–2022 (USD MILLION) 141
TABLE 84 MULTI-FACTOR AUTHENTICATION MARKET, BY REGION, 2023–2028 (USD MILLION) 142
10.2 NORTH AMERICA 142
10.2.1 NORTH AMERICA: MULTI-FACTOR AUTHENTICATION MARKET DRIVERS 142
10.2.2 NORTH AMERICA: RECESSION IMPACT 143
10.2.3 NORTH AMERICA: REGULATORY LANDSCAPE 143
FIGURE 31 NORTH AMERICA: MARKET SNAPSHOT 144
TABLE 85 NORTH AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION) 144
TABLE 86 NORTH AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION) 145
TABLE 87 NORTH AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2017–2022 (USD MILLION) 145
TABLE 88 NORTH AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 145
TABLE 89 NORTH AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2017–2022 (USD MILLION) 145
TABLE 90 NORTH AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2023–2028 (USD MILLION) 146
TABLE 91 NORTH AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY TWO-FACTOR AUTHENTICATION, 2017–2022 (USD MILLION) 146
TABLE 92 NORTH AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY TWO-FACTOR AUTHENTICATION, 2023–2028 (USD MILLION) 146
TABLE 93 NORTH AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY THREE-FACTOR AUTHENTICATION, 2017–2022 (USD MILLION) 147
TABLE 94 NORTH AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY THREE-FACTOR AUTHENTICATION, 2023–2028 (USD MILLION) 147
TABLE 95 NORTH AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2017–2022 (USD MILLION) 147
TABLE 96 NORTH AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 148
TABLE 97 NORTH AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY COUNTRY, 2017–2022 (USD MILLION) 148
TABLE 98 NORTH AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 148
10.2.4 US 149
10.2.4.1 Presence of stringent laws, growing internet penetration, and government initiatives to adopt MFA to drive market 149
TABLE 99 US: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION) 149
TABLE 100 US: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION) 149
TABLE 101 US: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2017–2022 (USD MILLION) 150
TABLE 102 US: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 150
TABLE 103 US: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2017–2022 (USD MILLION) 150
TABLE 104 US: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2023–2028 (USD MILLION) 150
TABLE 105 US: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2017–2022 (USD MILLION) 151
TABLE 106 US: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 151
10.2.5 CANADA 152
10.2.5.1 Increased occurrence of online fraud, terrorist attacks, and bad bot attacks to drive market 152
TABLE 107 CANADA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION) 152
TABLE 108 CANADA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION) 152
TABLE 109 CANADA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2017–2022 (USD MILLION) 153
TABLE 110 CANADA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 153
TABLE 111 CANADA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2017–2022 (USD MILLION) 153
TABLE 112 CANADA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2023–2028 (USD MILLION) 153
TABLE 113 CANADA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2017–2022 (USD MILLION) 154
TABLE 114 CANADA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 154
10.3 EUROPE 155
10.3.1 EUROPE: MULTI-FACTOR AUTHENTICATION MARKET DRIVERS 155
10.3.2 EUROPE: RECESSION IMPACT 155
10.3.3 EUROPE: REGULATORY LANDSCAPE 156
TABLE 115 EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION) 156
TABLE 116 EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION) 157
TABLE 117 EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2017–2022 (USD MILLION) 157
TABLE 118 EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 157
TABLE 119 EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2017–2022 (USD MILLION) 157
TABLE 120 EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2023–2028 (USD MILLION) 158
TABLE 121 EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY TWO-FACTOR AUTHENTICATION, 2017–2022 (USD MILLION) 158
TABLE 122 EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY TWO-FACTOR AUTHENTICATION, 2023–2028 (USD MILLION) 158
TABLE 123 EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY THREE-FACTOR AUTHENTICATION, 2017–2022 (USD MILLION) 159
TABLE 124 EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY THREE-FACTOR AUTHENTICATION, 2023–2028 (USD MILLION) 159
TABLE 125 EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2017–2022 (USD MILLION) 159
TABLE 126 EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 160
TABLE 127 EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY COUNTRY, 2017–2022 (USD MILLION) 160
TABLE 128 EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 160
10.3.4 UK 161
10.3.4.1 Increasing identity fraud to boost adoption of MFA 161
TABLE 129 UK: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION) 161
TABLE 130 UK: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION) 161
TABLE 131 UK: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2017–2022 (USD MILLION) 162
TABLE 132 UK: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 162
TABLE 133 UK: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2017–2022 (USD MILLION) 162
TABLE 134 UK: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2023–2028 (USD MILLION) 162
TABLE 135 UK: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2017–2022 (USD MILLION) 163
TABLE 136 UK: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 163
10.3.5 GERMANY 164
10.3.5.1 Rising innovative technologies and need to combat financial crimes to drive market 164
TABLE 137 GERMANY: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION) 164
TABLE 138 GERMANY: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION) 164
TABLE 139 GERMANY: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2017–2022 (USD MILLION) 165
TABLE 140 GERMANY: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 165
TABLE 141 GERMANY: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2017–2022 (USD MILLION) 165
TABLE 142 GERMANY: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2023–2028 (USD MILLION) 165
TABLE 143 GERMANY: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2017–2022 (USD MILLION) 166
TABLE 144 GERMANY: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 166
10.3.6 FRANCE 167
10.3.6.1 Guidelines of French Data Protection Authority to adopt MFA to drive market 167
TABLE 145 FRANCE: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION) 167
TABLE 146 FRANCE: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION) 167
TABLE 147 FRANCE: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2017–2022 (USD MILLION) 168
TABLE 148 FRANCE: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 168
TABLE 149 FRANCE: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2017–2022 (USD MILLION) 168
TABLE 150 FRANCE: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2023–2028 (USD MILLION) 168
TABLE 151 FRANCE: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2017–2022 (USD MILLION) 169
TABLE 152 FRANCE: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 169
10.3.7 ITALY 170
10.3.7.1 Consistent growth in cybersecurity and need to comply with GDPR to drive market 170
TABLE 153 ITALY: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION) 170
TABLE 154 ITALY: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION) 170
TABLE 155 ITALY: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2017–2022 (USD MILLION) 170
TABLE 156 ITALY: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 171
TABLE 157 ITALY: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2017–2022 (USD MILLION) 171
TABLE 158 ITALY: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2023–2028 (USD MILLION) 171
TABLE 159 ITALY: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2017–2022 (USD MILLION) 172
TABLE 160 ITALY: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 172
10.3.8 REST OF EUROPE 173
TABLE 161 REST OF EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION) 173
TABLE 162 REST OF EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION) 173
TABLE 163 REST OF EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2017–2022 (USD MILLION) 174
TABLE 164 REST OF EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 174
TABLE 165 REST OF EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2017–2022 (USD MILLION) 174
TABLE 166 REST OF EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2023–2028 (USD MILLION) 174
TABLE 167 REST OF EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2017–2022 (USD MILLION) 175
TABLE 168 REST OF EUROPE: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 175
10.4 ASIA PACIFIC 176
10.4.1 ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET DRIVERS 176
10.4.2 ASIA PACIFIC: RECESSION IMPACT 177
10.4.3 ASIA PACIFIC: REGULATORY LANDSCAPE 177
FIGURE 32 ASIA PACIFIC: MARKET SNAPSHOT 178
TABLE 169 ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION) 178
TABLE 170 ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION) 179
TABLE 171 ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2017–2022 (USD MILLION) 179
TABLE 172 ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 179
TABLE 173 ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2017–2022 (USD MILLION) 179
TABLE 174 ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2023–2028 (USD MILLION) 180
TABLE 175 ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY TWO-FACTOR AUTHENTICATION, 2017–2022 (USD MILLION) 180
TABLE 176 ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY TWO-FACTOR AUTHENTICATION, 2023–2028 (USD MILLION) 180
TABLE 177 ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY THREE-FACTOR AUTHENTICATION, 2017–2022 (USD MILLION) 181
TABLE 178 ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY THREE-FACTOR AUTHENTICATION, 2023–2028 (USD MILLION) 181
TABLE 179 ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2017–2022 (USD MILLION) 181
TABLE 180 ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 182
TABLE 181 ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY COUNTRY, 2017–2022 (USD MILLION) 182
TABLE 182 ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 182
10.4.4 AUSTRALIA 183
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 183
TABLE 183 AUSTRALIA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION) 183
TABLE 184 AUSTRALIA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION) 183
TABLE 185 AUSTRALIA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2017–2022 (USD MILLION) 184
TABLE 186 AUSTRALIA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 184
TABLE 187 AUSTRALIA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2017–2022 (USD MILLION) 184
TABLE 188 AUSTRALIA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2023–2028 (USD MILLION) 184
TABLE 189 AUSTRALIA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2017–2022 (USD MILLION) 185
TABLE 190 AUSTRALIA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 185
10.4.5 INDIA 186
10.4.5.1 Personal Data Protection Act to strengthen data privacy across all FIs to drive demand for MFA 186
TABLE 191 INDIA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION) 186
TABLE 192 INDIA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION) 186
TABLE 193 INDIA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2017–2022 (USD MILLION) 187
TABLE 194 INDIA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 187
TABLE 195 INDIA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2017–2022 (USD MILLION) 187
TABLE 196 INDIA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2023–2028 (USD MILLION) 187
TABLE 197 INDIA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2017–2022 (USD MILLION) 188
TABLE 198 INDIA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 188
10.4.6 CHINA 189
10.4.6.1 Surge in mobile commerce and digital payment platforms to drive growth of MFA 189
TABLE 199 CHINA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION) 189
TABLE 200 CHINA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION) 189
TABLE 201 CHINA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2017–2022 (USD MILLION) 190
TABLE 202 CHINA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 190
TABLE 203 CHINA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2017–2022 (USD MILLION) 190
TABLE 204 CHINA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2023–2028 (USD MILLION) 190
TABLE 205 CHINA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2017–2022 (USD MILLION) 191
TABLE 206 CHINA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 191
10.4.7 JAPAN 192
10.4.7.1 Strong technological base and focus on data protection and government support to drive market 192
TABLE 207 JAPAN: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION) 192
TABLE 208 JAPAN: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION) 192
TABLE 209 JAPAN: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2017–2022 (USD MILLION) 193
TABLE 210 JAPAN: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 193
TABLE 211 JAPAN: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2017–2022 (USD MILLION) 193
TABLE 212 JAPAN: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2023–2028 (USD MILLION) 193
TABLE 213 JAPAN: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2017–2022 (USD MILLION) 194
TABLE 214 JAPAN: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 194
10.4.8 REST OF ASIA PACIFIC 195
TABLE 215 REST OF ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION) 195
TABLE 216 REST OF ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION) 195
TABLE 217 REST OF ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2017–2022 (USD MILLION) 196
TABLE 218 REST OF ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 196
TABLE 219 REST OF ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2017–2022 (USD MILLION) 196
TABLE 220 REST OF ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2023–2028 (USD MILLION) 196
TABLE 221 REST OF ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2017–2022 (USD MILLION) 197
TABLE 222 REST OF ASIA PACIFIC: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 197
10.5 MIDDLE EAST & AFRICA 198
10.5.1 MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET DRIVERS 198
10.5.2 MIDDLE EAST & AFRICA: RECESSION IMPACT 199
10.5.3 MIDDLE EAST & AFRICA: REGULATORY LANDSCAPE 199
TABLE 223 MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION) 199
TABLE 224 MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION) 199
TABLE 225 MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2017–2022 (USD MILLION) 200
TABLE 226 MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 200
TABLE 227 MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2017–2022 (USD MILLION) 200
TABLE 228 MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2023–2028 (USD MILLION) 200
TABLE 229 MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY TWO-FACTOR AUTHENTICATION, 2017–2022 (USD MILLION) 201
TABLE 230 MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY TWO-FACTOR AUTHENTICATION, 2023–2028 (USD MILLION) 201
TABLE 231 MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY THREE-FACTOR AUTHENTICATION, 2017–2022 (USD MILLION) 201
TABLE 232 MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY THREE-FACTOR AUTHENTICATION, 2023–2028 (USD MILLION) 202
TABLE 233 MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2017–2022 (USD MILLION) 202
TABLE 234 MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 203
TABLE 235 MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY COUNTRY, 2017–2022 (USD MILLION) 203
TABLE 236 MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 203
10.5.4 UAE 204
10.5.4.1 Need to adopt modern low-friction authentication techniques to safeguard mixed workforces to drive market 204
TABLE 237 UAE: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION) 204
TABLE 238 UAE: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION) 205
TABLE 239 UAE: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2017–2022 (USD MILLION) 205
TABLE 240 UAE: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 205
TABLE 241 UAE: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2017–2022 (USD MILLION) 205
TABLE 242 UAE: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2023–2028 (USD MILLION) 206
TABLE 243 UAE: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2017–2022 (USD MILLION) 206
TABLE 244 UAE: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 207
10.5.5 KSA 207
10.5.5.1 Need to secure digital identities to fuel adoption of MFA solutions 207
TABLE 245 KSA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION) 208
TABLE 246 KSA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION) 208
TABLE 247 KSA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2017–2022 (USD MILLION) 208
TABLE 248 KSA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 208
TABLE 249 KSA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2017–2022 (USD MILLION) 209
TABLE 250 KSA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2023–2028 (USD MILLION) 209
TABLE 251 KSA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2017–2022 (USD MILLION) 209
TABLE 252 KSA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 210
10.5.6 REST OF MIDDLE EAST & AFRICA 210
TABLE 253 REST OF MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION) 211
TABLE 254 REST OF MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION) 211
TABLE 255 REST OF MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2017–2022 (USD MILLION) 211
TABLE 256 REST OF MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 211
TABLE 257 REST OF MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2017–2022 (USD MILLION) 212
TABLE 258 REST OF MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2023–2028 (USD MILLION) 212
TABLE 259 REST OF MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2017–2022 (USD MILLION) 212
TABLE 260 REST OF MIDDLE EAST & AFRICA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 213
10.6 LATIN AMERICA 213
10.6.1 LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET DRIVERS 214
10.6.2 LATIN AMERICA: RECESSION IMPACT 214
10.6.3 LATIN AMERICA: REGULATORY LANDSCAPE 214
TABLE 261 LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION) 215
TABLE 262 LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION) 215
TABLE 263 LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2017–2022 (USD MILLION) 215
TABLE 264 LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 215
TABLE 265 LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2017–2022 (USD MILLION) 216
TABLE 266 LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2023–2028 (USD MILLION) 216
TABLE 267 LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY TWO-FACTOR AUTHENTICATION, 2017–2022 (USD MILLION) 216
TABLE 268 LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY TWO-FACTOR AUTHENTICATION, 2023–2028 (USD MILLION) 217
TABLE 269 LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY THREE-FACTOR AUTHENTICATION, 2017–2022 (USD MILLION) 217
TABLE 270 LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY THREE-FACTOR AUTHENTICATION, 2023–2028 (USD MILLION) 217
TABLE 271 LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2017–2022 (USD MILLION) 218
TABLE 272 LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 218
TABLE 273 LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY COUNTRY, 2017–2022 (USD MILLION) 219
TABLE 274 LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 219
10.6.4 BRAZIL 219
10.6.4.1 Rising adoption of digital penetration and social media to propel market 219
TABLE 275 BRAZIL: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION) 220
TABLE 276 BRAZIL: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION) 220
TABLE 277 BRAZIL: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2017–2022 (USD MILLION) 220
TABLE 278 BRAZIL: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 220
TABLE 279 BRAZIL: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2017–2022 (USD MILLION) 221
TABLE 280 BRAZIL: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2023–2028 (USD MILLION) 221
TABLE 281 BRAZIL: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2017–2022 (USD MILLION) 221
TABLE 282 BRAZIL: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 222
10.6.5 MEXICO 222
10.6.5.1 Rising social media and digital penetration to fuel demand for MFA solutions 222
TABLE 283 MEXICO: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION) 222
TABLE 284 MEXICO: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION) 223
TABLE 285 MEXICO: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2017–2022 (USD MILLION) 223
TABLE 286 MEXICO: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 223
TABLE 287 MEXICO: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2017–2022 (USD MILLION) 223
TABLE 288 MEXICO: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2023–2028 (USD MILLION) 224
TABLE 289 MEXICO: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2017–2022 (USD MILLION) 224
TABLE 290 MEXICO: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 225
10.6.6 REST OF LATIN AMERICA 225
TABLE 291 REST OF LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2017–2022 (USD MILLION) 225
TABLE 292 REST OF LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY AUTHENTICATION TYPE, 2023–2028 (USD MILLION) 226
TABLE 293 REST OF LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2017–2022 (USD MILLION) 226
TABLE 294 REST OF LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 226
TABLE 295 REST OF LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2017–2022 (USD MILLION) 226
TABLE 296 REST OF LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY MODEL TYPE, 2023–2028 (USD MILLION) 227
TABLE 297 REST OF LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2017–2022 (USD MILLION) 227
TABLE 298 REST OF LATIN AMERICA: MULTI-FACTOR AUTHENTICATION MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 228
11 COMPETITIVE LANDSCAPE 229
11.1 OVERVIEW 229
11.2 REVENUE ANALYSIS OF LEADING PLAYERS 229
11.3 MARKET SHARE ANALYSIS 229
FIGURE 33 MARKET SHARE ANALYSIS, 2022 230
TABLE 299 INTENSITY OF COMPETITIVE RIVALRY 230
11.4 HISTORICAL REVENUE ANALYSIS 231
FIGURE 34 REVENUE ANALYSIS FOR KEY PLAYERS, 2020–2022 (USD BILLION) 231
11.5 MARKET RANKING OF KEY PLAYERS 231
FIGURE 35 RANKING OF KEY PLAYERS 231
11.6 COMPANY EVALUATION MATRIX FOR KEY PLAYERS 232
11.6.1 DEFINITION AND METHODOLOGY 232
11.6.2 STARS 232
11.6.3 EMERGING LEADERS 232
11.6.4 PERVASIVE PLAYERS 232
11.6.5 PARTICIPANTS 232
11.7 COMPETITIVE BENCHMARKING FOR KEY PLAYERS 233
11.7.1 OVERALL COMPANY FOOTPRINT 233
FIGURE 36 COMPANY EVALUATION MATRIX FOR KEY PLAYERS, 2023 234
11.8 COMPANY EVALUATION MATRIX FOR STARTUPS/SMES 235
TABLE 300 LIST OF STARTUPS/SMES 235
11.8.1 DEFINITION AND METHODOLOGY 235
11.8.2 PROGRESSIVE COMPANIES 235
11.8.3 RESPONSIVE COMPANIES 235
11.8.4 DYNAMIC COMPANIES 235
11.8.5 STARTING BLOCKS 235
FIGURE 37 COMPANY EVALUATION MATRIX FOR STARTUPS/SMES, 2023 236
11.9 GLOBAL SNAPSHOTS OF KEY MARKET PLAYERS AND THEIR HEADQUARTERS 237
FIGURE 38 REGIONAL SNAPSHOT 237
11.10 VALUATION AND FINANCIAL METRICS OF VENDORS 237
FIGURE 39 VALUATION AND FINANCIAL METRICS OF MULTI-FACTOR AUTHENTICATION VENDORS 237
11.11 COMPETITIVE SCENARIO 238
TABLE 301 MULTI-FACTOR AUTHENTICATION MARKET: PRODUCT LAUNCHES, 2021–2023 238
TABLE 302 MULTI-FACTOR AUTHENTICATION MARKET: DEALS, 2021–2023 239
12 COMPANY PROFILES 244
(Business Overview, Products Offered, Recent Developments, MnM View Right to win, Strategic choices made, Weaknesses and competitive threats) *
12.1 KEY PLAYERS 244
12.1.1 MICROSOFT 244
TABLE 303 MICROSOFT: COMPANY OVERVIEW 244
FIGURE 40 MICROSOFT: COMPANY SNAPSHOT 245
TABLE 304 MICROSOFT: PRODUCTS/SOLUTIONS/SERVICES OFFERED 245
TABLE 305 MICROSOFT: PRODUCT LAUNCHES 246
TABLE 306 MICROSOFT: DEALS 246
12.1.2 THALES GROUP 249
TABLE 307 THALES GROUP: COMPANY OVERVIEW 249
FIGURE 41 THALES GROUP: COMPANY SNAPSHOT 250
TABLE 308 THALES GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED 250
TABLE 309 THALES GROUP: PRODUCT LAUNCHES 251
TABLE 310 THALES GROUP: DEALS 252
12.1.3 OKTA 254
TABLE 311 OKTA: COMPANY OVERVIEW 254
FIGURE 42 OKTA: COMPANY SNAPSHOT 255
TABLE 312 OKTA: PRODUCTS/SOLUTIONS/SERVICES OFFERED 255
TABLE 313 OKTA: PRODUCT LAUNCHES 256
TABLE 314 OKTA: DEALS 256
12.1.4 BROADCOM 258
TABLE 315 BROADCOM: COMPANY OVERVIEW 258
FIGURE 43 BROADCOM: COMPANY SNAPSHOT 259
TABLE 316 BROADCOM: PRODUCTS/SOLUTIONS/SERVICES OFFERED 259
TABLE 317 BROADCOM: DEALS 260
12.1.5 ONESPAN 261
TABLE 318 ONESPAN: COMPANY OVERVIEW 261
FIGURE 44 ONESPAN: COMPANY SNAPSHOT 262
TABLE 319 ONESPAN: PRODUCTS/SOLUTIONS/SERVICES OFFERED 262
TABLE 320 ONESPAN: PRODUCT LAUNCHES 263
TABLE 321 ONESPAN: DEALS 263
12.1.6 MICRO FOCUS 265
TABLE 322 MICRO FOCUS: COMPANY OVERVIEW 265
TABLE 323 MICRO FOCUS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 265
TABLE 324 MICRO FOCUS: DEALS 266
12.1.7 HID GLOBAL 267
TABLE 325 HID GLOBAL: COMPANY OVERVIEW 267
TABLE 326 HID GLOBAL: PRODUCTS/SOLUTIONS/SERVICES OFFERED 267
TABLE 327 HID GLOBAL: PRODUCT LAUNCHES 268
TABLE 328 HID GLOBAL: DEALS 268
12.1.8 CISCO 269
TABLE 329 CISCO: COMPANY OVERVIEW 269
FIGURE 45 CISCO: COMPANY SNAPSHOT 270
TABLE 330 CISCO: PRODUCTS/SOLUTIONS/SERVICES OFFERED 270
TABLE 331 CISCO: PRODUCT LAUNCHES 271
TABLE 332 CISCO: DEALS 271
12.1.9 PING IDENTITY 272
TABLE 333 PING IDENTITY: COMPANY OVERVIEW 272
TABLE 334 PING IDENTITY: PRODUCTS/SOLUTIONS/SERVICES OFFERED 272
TABLE 335 PING IDENTITY: PRODUCT LAUNCHES 273
TABLE 336 PING IDENTITY: DEALS 273
12.1.10 RSA SECURITY 274
TABLE 337 RSA SECURITY: COMPANY OVERVIEW 274
TABLE 338 RSA SECURITY: PRODUCTS/SOLUTIONS/SERVICES OFFERED 274
TABLE 339 RSA SECURITY: DEALS 275
12.1.11 ESET 276
12.1.12 YUBICO 277
12.1.13 FORGEROCK 278
12.1.14 CYBERARK 279
12.1.15 ONELOGIN 280
12.1.16 SECUREAUTH 281
12.1.17 ORACLE 282
12.1.18 SALESFORCE 283
12.2 OTHER KEY PLAYERS 284
12.2.1 SECRET DOUBLE OCTOPUS 284
12.2.2 SILVERFORT 285
12.2.3 TRUSONA 286
12.2.4 FUSIONAUTH 287
12.2.5 HYPR 288
12.2.6 KEYLESS 289
12.2.7 LUXCHAIN 289
*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 290
13.1 INTRODUCTION TO ADJACENT MARKETS 290
TABLE 340 ADJACENT MARKETS AND FORECASTS 290
13.2 LIMITATIONS 290
13.3 ADJACENT MARKETS 290
13.3.1 IDENTITY AND ACCESS MANAGEMENT MARKET 290
TABLE 341 IDENTITY AND ACCESS MANAGEMENT MARKET, BY OFFERING, 2017–2022 (USD MILLION) 290
TABLE 342 IDENTITY AND ACCESS MANAGEMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION) 291
TABLE 343 IDENTITY AND ACCESS MANAGEMENT MARKET, BY SOLUTION, 2017–2022 (USD MILLION) 291
TABLE 344 IDENTITY AND ACCESS MANAGEMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 291
13.3.2 DIGITAL IDENTITY SOLUTIONS MARKET 292
TABLE 345 DIGITAL IDENTITY SOLUTIONS MARKET, BY OFFERING, 2017–2022 (USD MILLION) 292
TABLE 346 DIGITAL IDENTITY SOLUTIONS MARKET, BY OFFERING, 2023–2028 (USD MILLION) 292
TABLE 347 DIGITAL IDENTITY SOLUTIONS MARKET, BY SOLUTION TYPE, 2017–2022 (USD MILLION) 292
TABLE 348 DIGITAL IDENTITY SOLUTIONS MARKET, BY SOLUTION TYPE, 2023–2028 (USD MILLION) 292
14 APPENDIX 293
14.1 DISCUSSION GUIDE 293
14.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 296
14.3 CUSTOMIZATION OPTIONS 298
14.4 RELATED REPORTS 298
14.5 AUTHOR DETAILS 299
