Multifactor Authentication Market Size & Future Development Status 2026 Multifactor Authentication Market was valued US$6.93 Bn by 2017 and is estimated to reach US$24.82 Bn by 2026 at a CAGR of about 15.23% during a forecast period.
BriefingWire.com, 4/13/2021 - Market Scenario
Multifactor Authentication Market was valued US$6.93 Bn by 2017 and is estimated to reach US$24.82 Bn by 2026 at a CAGR of about 15.23% during a forecast period.
Multi-factor authentication utilizes many-fold methods of authentication to verify a userâs identity. Authenticating user identity ensures security during online transactions and accessing corporate resources. Multi-factor authentication utilized for Credentials breach of data that enterprise in order to administer an extra security layer that makes users authenticate via knowledge, possession, and inherence factors to gain access to corporate and social networks. A large number of countries
Identity and Access Management Market projected to reach $24 1 billion by 2025, with a remarkable CAGR of 14 5%
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Multi-Factor Authentication Market Leaders: Global Industry Report, Size, Share, Growth and Forecast 2020-2025
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According to the latest report by IMARC Group, titled
: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global multi-factor authentication market experienced robust growth during 2012-2019. Multi-factor authentication (MFA) is a security system intended to protect network, database, device or a physical location with the use of a multi-layered verification process. It requires unique credentials to confirm the user’s identity for the login or any transaction to be made. Other than the username and password, it entails additional authorization factors, including personal security questions, facial recognition, badges, USB devices, security token, one-time password (OTP), behavioral analysis and risk score. Since it is generally a challenging task to decrypt multiple authentication factors, the use of MFA security systems has gained immense traction across the globe.