Global MFA Market was Valued at USD 3.60 Billion in 2014

Date: 2015-08-31

“Multi-factor authentication is a vast market with a huge scope for growth. The MFA technology plays an important role because it helps to meet legislative compliances, security needs, inter border security requirements, enterprise data securities, and so on. Banking and finance, travel and immigration, defense and cyber security applications are deploying MFA on a large scale.

Global MFA market was valued at USD 3.60 billion in 2014 and  it is expected to reach USD 9.60 billion by 2020, at an estimated CAGR of 17.7%. Government, banking & finance, and healthcare will be the key application areas of the MFA market.

Two-factor authentication is the most used authentication models followed by three-factor, four-factor, and five-factor authentication, respectively. The U.S. is the global leader in MFA technology consumption. North America leads the market followed by Europe and APAC based on region. In applications, banking & finance is the major contributor, whereas healthcare, government, and commercial security are expected to  play an important role.

The major players that offer various products in the MFA market are RSA Security, LLC (U.S.), Vasco Data Security (U.S.), Gemalto NV (Netherlands), Safran SA (France), Fujitsu, Ltd. (Japan), CA Technologies (U.S.), NEC Corporation (Japan), and Cross Match Technologies (U.S.) among others. 

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