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Global Multifactor Authentication Market – Analysis and Forecast (2021-2027)

The global multifactor authentication (MFA) market is anticipated to grow from USD 10.9 billion in 2021 to USD 23.9 billion by 2027, registering a CAGR of 16.3% during the forecast period 2021-2027.

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Global Multifactor Authentication Market – Analysis and Forecast (2021-2027)

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  1. Global Multifactor Authentication Market

  2. About VynZ Research… • VynZ Research is a global market research firm offering research, analytics, and consulting services on business strategies. We have a recognized trajectory record and our research database is used by many renowned companies and institutions in the world to strategize and revolutionize business opportunities. The company focuses on providing valuable insights on various technology verticals such as Chemicals, Automotive, Transportation, Energy, Consumer Durables, Healthcare, ICT and other emerging technologies. • VynZ Research has one of the most qualified & experienced analysts, who are constantly tracking the markets and the technologies. The research team has years of proven experience and wide knowledge & understanding of the technology, application, business models, and regulators of the segments and the value chain involved. • A trusted & proven methodology that involves highest quality of primary research, secondary analysis collated & verified through various sources including cross checking with different industry experts. • Serving wide range of customers most of them from Fortune 2000 companies • With a dedicated 24x7 customer helpline our customers can reach for specifying their needs • Developing long term relationship with the clients and satisfying them is one of the crucial notches of the company. VynZ Research aims at gaining and retaining its clients in order to make long term customer relationship.

  3. Global Multifactor Authentication Market The global multifactor authentication (MFA) market is anticipated to grow from USD 10.9 billion in 2021 to USD 23.9 billion by 2027, registering a CAGR of 16.3% during the forecast period 2021-2027. The multifactor authentication method is an advanced security system that entails users providing two or more validation factors in order to access resources like Components, online accounts, and Virtual Private Networks (VPN). The increased number of verification processes will decrease the probability of security breaches like hacking and data theft will accelerate the demand for MFA systems. The MFA system comprises logical, biometric, and physical procedures so as to pass the security system. Multifactor authentication is gaining prominence as it provides a high degree of security and various models of multi-factor authentication are adopted in various industry verticals like BFSI, government, immigration and travel, commercial security, electronics, and healthcare.

  4. Global Multifactor Authentication Market Factors attributing to the growth MFN market include increasing security breaches, fraud, and data identity thefts, rise in adoption of BYOD/IoT devices, increased demand for cloud-based MFA solutions and services, increased volume of online transactions, and strict government regulations like GDPR, CCPA, and PSD2 emphasized on the deployment of security practices in enterprises to eradicate frauds, data leaks, and identity thefts. The increased internet penetration, growing investment in cloud technologies, enterprise mobility, mounting adoption of smartphones with built-in authentication technology, and robust e-commerce growth will bolster the growth of the multifactor authentication market. North America dominates the multifactor authentication market owing to increased penetration of smartphones, mounting adoption of digital services, technological development, and improved network connectivity.

  5. Global Multifactor Authentication Market Okta is one of the leading independent providers of identity for enterprises and provides flexibility in multifactor authentication solutions and includes single sign-on, access gateway, universal directory, and authentication. Fujitsu tablets and work-related data systems are easy and authentication happens very fast. Thus, the staff are freed from handling multiple, complicated passwords and security is stronger. Some of the key players operating in the multifactor authentication market: Broadcom, OneSpan, Okta, Microsoft, RSA Security LLC, Safran, Thales Group, SUPREMA, Ping Identity, and Fujitsu.

  6. For Sample Report :- https://www.vynzresearch.com/semiconductor-electronics/multifactor-authentication-market/request-sample www.vynzresearch.com

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