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Multi-Factor Authentication Market Technology Advancement 2018 to 2023

Global Multi-Factor Authentication Market Competitive Analysis, Trends and Forecast till 2023, with free sample copy of the report.
Published 16 July 2018

The global multi-factor authentication market is expected to register a CAGR of 14.4% over the forecast period of 2018–2023.

Report elaborates the complete details covering product definition, product type, and application. The report covers useful details which are categorized based on Multi-Factor Authentication production region, major players, and product type which will provide a simplified view of the Multi-Factor Authentication industry. The Multi-Factor Authentication market report presents the competitive scenario of the major market players based on the sales revenue, customer demands, company profile, the business tactics used in Multi-Factor Authentication market which will help the emerging market segments in making vital business decisions.

Global Multi-Factor Authentication Market by Top Manufacturers (2018-2023): RSA Security LLC, Symantec Corporation, Vasco Data Security International, Inc., CA Technologies, Inc., Fujitsu Limited, Safran SA, NEC Corporation, Gemalto NV, SecureAuth Corporation, and Suprema HQ, Inc., among others. 

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Essential points covered in Multi-Factor Authentication Market 2018 Research are:-

  • What will the market size and the growth rate be in 2023?
  • What are the key factors driving the Multi-Factor Authentication market?
  • What are the key market trends impacting the growth of the Multi-Factor Authentication market?
  • What are the challenges to market growth?
  • Who are the key vendors in the Multi-Factor Authentication market?
  • What are the market opportunities and threats faced by the vendors in the Multi-Factor Authentication market?
  • What are the key outcomes of the five forces analysis of the Multi-Factor Authentication market?
This independent 110 pages report guarantees you will remain better informed than your competition. With figures examining the Multi-Factor Authentication market, the report gives you a visual, one-stop breakdown of the leading products, submarkets and market leader’s market revenue forecasts as well as analysis to 2023.
The need to share sensitive and often regulated information across organizational and even corporate boundaries has become commonplace, majorly as a result of the advent of data center, cloud services, and “bring-your-own-device” policy. As a result, a huge amount of security and data breaches are being witnessed and are anticipated to grow further. Today, an immense amount of data and infrastructure is being deployed over the cloud, thus increasing the cost due to these breaches. All these factors have driven the need for a more robust authentication, driving the multi-factor authentication market.

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Government Sector to Hold a Significant Share

The governments of various countries across the globe are adopting digitization to create transparency and to cater information to the public. The governments are investing in digital transformation at the national or state level to enhance fraud management and increase productivity. As of 2016, over 130 countries used online services to pay taxes and access various basic information, to ease public tasks. Estonia, a European country allows their 1.3 million residents to vote and pay every taxes online and provides access over 155 services over the internet, which creates vulnerability, thereby fueling the market growth over the forecast period. However, the need and demand for better IT infrastructure is compelling governments to invest rigorously in the enhancement of the IT department which is likely to boost the advanced authentication market. Hackers are finding new ways to compromise the data and perform illegal activities. This is expected to increase the usage of multi-factor authentication.

United Arab Emirates to Drive the Market in the Middle East Region

 United Arab Emirates is expected to be one of the prime targets for identity attacks according to the United States homeland security department. The government's initiative to make Dubai a smart city is expected to increase such attacks on the country further. It has been identified that about 561 cyber attacks with a need for authentication crisis have been averted in six months in the country, which emphasizes the need for multi-factor authentication technology in the country. United Arab Emirates has one of the highest levels of malware threats compared to other regions. About 10.26 million incidents have been reported in the country. The growing trend of bring-your-own-device (BYOD) among companies has further emphasized the need for authentication technologies to ensure the safekeeping of data. The number of payments through online banking has also been on the rise. About one in every five transactions is through online modes of payment. Cashless payments in the country have also increased owing to the government’s implementation of e-Government strategies. All these factors are expected to drive the need for multi-factor authentication across the country.

Reasons to Purchase This Report

  • The growing number of cyber attacks across the globe has been identified as a major driver in the global market scenario.
  • The report analyzes the various perspectives of the market with the help of Porter’s Five Forces Analysis.
  • The type and end-user vertical that is expected to dominate the market.
  • The regions are expected to witness the fastest growth during the forecast period.
  • Identify the latest developments, market shares, and strategies employed by the major market players.
  • 3-month analyst support along with the Market Estimate sheet (in Excel).
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