WILMINGTON, DE, UNITED STATES, August 4, 2025 /EINPresswire.com/ -- Allied Market Research published a new report, titled, "Growing at 18% CAGR | Multi-factor Authentication Market Reach USD 40.00 Billion by 2030." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segments, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain a thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global multi-factor authentication market size was valued at USD 10,300 million in 2020, and is projected to reach USD 40,000 million by 2030, registering a CAGR of 18% from 2021 to 2030.
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Driving Factors
Rise in cyber-attacks during the Covid-19 pandemic, supportive government policies, and need for improved privacy drive the growth of the global multi-factor authentication market. However, high installation charges and inconvenience and delay for the users hinder the market growth. On the other hand, rise in internet applications and flexibility of multifactor authentication solutions create new opportunities in the coming years.
Market Segmentation
The multi-factor authentication market is mainly segmented into authentication type, model type, component and end user. Based on authentication type, the market is segmented into password and Password less authentication. Based on model type, the market is segmented into two factor, three factor, Multi-factor with four-factor authentication and Multi-factor with five-factor authentication. Based on component, the market is segmented into solution, hardware and services. Based on end user the market is segmented into BFSI, Government, Travel and Immigration, Military and Defense, Commercial Security, IT, Telecommunication, Healthcare, Media and Entertainment and Other. The market primarily focuses on major regions such as North America, Europe, Asia-Pacific and LAMEA.
Key Players
Leading players of the global multi-factor authentication market analyzed in the research include Microsoft, Onespan, Broadcom, Micro Focus, Okta, Rsa Security, Thales, Ping Identity, Duo Security (Cisco), and Hid Global.
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Based on region, North America contributed to the highest share in 2020, accounting for around two-fifths of the total share, and is expected to continue its dominant share by 2030. However, Asia-Pacific is estimated to register the largest CAGR of 19.8% during the forecast period.
Based on authentication type, the password authentication segment accounted for the largest share in 2020, holding more than three-fourths of the total share, and is estimated to maintain its lead position during the forecast period. However, the passwordless authentication segment is projected to manifest the highest CAGR of 19.4% from 2021 to 2030.
Based on end user, the military and defense segment accounted for the highest share in 2020, contributed to nearly one-third of the global multi-factor authentication market, and is expected to maintain its leadership status during the forecast period. However, the commercial security segment is projected to portray the fastest CAGR of 20.1% from 2021 to 2030.
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COVID-19 Scenario
● Owing to a sudden increase in cyber-attacks during the Covid-19 pandemic, the demand for multi-factor authentication solutions rose and resulted in high profit margins for multi-factor authentication service providers.
● According to a study by the security solutions provider F5 Labs, there has been nearly 220% surge in the number of phishing attacks since the first phase of lockdown in 2020. These instances led businesses to adopt enhanced security infrastructure.
● The adoption of work from home and remote working culture increased among organizations. There has been rapid increase in cyber-criminal activities targeted on many organizations and their employees and customers. This resulted in demand for improved security for critical corporate assets.
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