Multifactor Authentication Market: Advantages of Multifactor Authentication to Propel Growth

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Multi-factor authentication can be considered to be an emerging sector of the identity access management and may utilize many-fold methods of authentication to verify a user’s identity. Authenticating user identity ensures security during online transactions, while logging into online services, and accessing corporate resources. Credentials that have been compromised are the key cause resulting breach of data. Multi-factor authentication is thus utilized by enterprises in order to administer an extra security layer that makes users to authenticate via knowledge, possession, and inherence factors to gain access to corporate and social networks.


There has been as surge in concern regarding data privacy across the globe. A large number of countries have introduced countermeasures be implementing regulations such as HIPAA, Gramm-Leach-Bliley Act (GLBA), Basel II, PCI DSS, and SOX. The rise in regulatory demands for large banks and PCI companies is providing impetus to the adoption of multi-factor authentication in across the globe. Furthermore, technological progress in authentication solutions such as phone-based authentication and SMS tokens, integrated with biometric authentication is also boost the growth of the global multifactor authentication market.


The global multifactor authentication market is expected to rise to US$20,444.9 mn by 2025 from US$ 4,829.2 mn in 2016. Over the forecast duration of 2017 and 2025, the global multifactor authentication market is prognosticated to expand at 17.7% CAGR.

On the basis of the authentication models the multifactor-authentication market has been further segmented into three categories which are, two-factor authentication, three-factor authentication, and four-factor authentication. Two-factor authentication is a two-step verification process of combining any two of the four possible authentication parameters including possession, knowledge, genetics and location. Among all the models, two-factor authentication model could see a significant market share for the forecast period-2017-2025, as it is a cost-effective method for multi-factor authentication.

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