Multi-Factor Authentication (MFA) Global Market to Reach $53 Billion by 2030: Insurance Companies Prioritize MFA amid Growing Complexities in Data Management
DUBLIN, March 16, 2023 /PRNewswire/ -- The "Multi-Factor Authentication (MFA): Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Multi-Factor Authentication (MFA) estimated at US$17.9 Billion in the year 2022, is projected to reach a revised size of US$53 Billion by 2030, growing at a CAGR of 14.6% over the analysis period 2022-2030.
Two Factor Authentication, one of the segments analyzed in the report, is projected to record 13.3% CAGR and reach US$33.5 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Three Factor Authentication segment is readjusted to a revised 18.8% CAGR for the next 8-year period.
The U.S. Market is Estimated at $4.9 Billion, While China is Forecast to Grow at 20.7% CAGR
The Multi-Factor Authentication (MFA) market in the U.S. is estimated at US$4.9 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$13.5 Billion by the year 2030 trailing a CAGR of 20.7% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.3% and 11.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 9.9% CAGR.
Select Competitors (Total 13 Featured) -
- CA Technologies
- Gemalto NV
- RSA Security, Inc.li>SAFRAN Group
- Symantec Corporation
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- Multi-Factor Authentication (MFA) - Global Key Competitors Percentage Market Share in 2022 (E)
- Market Overview
- Factors Driving MFA
- Increasing Rates of Cybercrime to Drive MFA Adoption
- Cyberattacks by Industry: 2019
- Cloud Computing Adds Avenues for MFA
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Trends Summarized for MFA
- Rise in Smartphone Usage Drive the Need for MFA
- Smartphone Sales Worldwide in Million Units: 2007-2022
- Wearables Widen Opportunities for MFA
- Global Wearble Shipments in Million Units: 2017-2022
- Authentication as a Service (AaaS) Grows in Prominence
- Enterprise Mobility & BYOD Movement Picks up Pace, Triggering the Need for MFA
- Data Protection Regulations Mandate Use of MFA
- Rise in eCommerce Market & Increasingg Data Protection Needs Fuel Demand for MFA
- Global eCommerce as a Percentage of Retail Sales: 2017-2022
- Growing Global Interest in E-Governance Drives Demand for MFA in the Government Sector
- Banking & Financial Services Security Drives Interest in MFA
- Insurance Companies Prioritize MFA amid Growing Complexities in Data Management
- Opportunities for MFA in the Healthcare Sector
- Online Gaming Platforms Drive MFA to Secure their Operations
- Market Issues
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/mkmlwk
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