
The global Multi-Factor Authentication (MFA) market size was US$ 18320 million in 2024 and is forecast to a readjusted size of US$ 63070 million by 2031 with a CAGR of 19.6% during the forecast period 2025-2031.
This report studies the Multi-factor Authentication (MFA) market. Multifactor authentication (MFA) is a security system that requires more than one method of authentication from independent categories of credentials to verify the user’s identity for a login or other transaction.
United States is the largest Multi-Factor Authentication (MFA) market with about 35% market share. Europe is follower, accounting for about 30% market share.
The key players are Morpho (France), Gemalto (Netherlands), NEC (Japan), Entrust Inc. (US), Broadcom, Fujitsu (Japan), VASCO Data Security (US), HID Global (US), RSA Security (US), Symantec Corporation (US), SecurEnvoy ltd (England), Crossmatch (US), Duo Secuirty (US), Deepnet Security (England), CensorNet Ltd. (England) etc. Top 3 companies occupied about 30% market share.
The global Multi-Factor Authentication (MFA) market is strategically segmented by company, region (country), by Type, and by Application. This report empowers stakeholders to capitalize on emerging opportunities, optimize product strategies, and outperform competitors through data-driven insights on revenue and forecasts across regions, by Type, and by Application for 2020-2031.
Âé¶¹Ô´´ Segmentation
By Company:
Morpho (France)
Gemalto (Netherlands)
NEC (Japan)
Entrust Inc. (US)
Broadcom
Fujitsu (Japan)
VASCO Data Security (US)
HID Global (US)
RSA Security (US)
Symantec Corporation (US)
SecurEnvoy ltd (England)
Crossmatch (US)
Duo Secuirty (US)
Deepnet Security (England)
CensorNet Ltd. (England)
By Type: (Dominant Segment vs High-Margin Innovation)
Two-Factor Authentication
Three-Factor Authentication
Others
By Application: (Core Demand Driver vs Emerging Opportunity)
Banking and Finance
Government
Travel and Immigration
Military and Defense
Commercial Security
Consumer Electronics
Healthcare
Others
By Region
Macro-Regional Analysis: Âé¶¹Ô´´ Size & Growth Forecasts
- North America
- Europe
- Asia-Pacific
- South America
- Middle East & Africa
Micro-Local Âé¶¹Ô´´ Deep Dive: Strategic Insights
- Competitive Landscape: Player dominance vs. disruptors (e.g., Morpho (France) in Europe)
- Emerging Product Trends: Two-Factor Authentication adoption vs. Three-Factor Authentication premiumization
- Demand-Side Dynamics: Banking and Finance growth in China vs. Government potential in North America
- Localized Consumer Needs: Regulatory hurdles in EU vs. price sensitivity in India
Focus Âé¶¹Ô´´s:
North America
Europe
Japan
Chapter Outline
Chapter 1: Report scope, executive summary, and market evolution scenarios (short/mid/long term).
Chapter 2: Quantitative analysis of Multi-Factor Authentication (MFA) market size and growth potential at global, regional, and country levels.
Chapter 3: Competitive benchmarking of manufacturers (revenue, market share, M&A, R&D focus).
Chapter 4: Type-based segmentation analysis – Uncovering blue ocean markets (e.g., Three-Factor Authentication in China).
Chapter 5: Application-based segmentation analysis – High-growth downstream opportunities (e.g., Government in India).
Chapter 6: Regional revenue breakdown by company, type, application and customer.
Chapter 7: Key manufacturer profiles – Financials, product portfolios, and strategic developments.
Chapter 8: Âé¶¹Ô´´ dynamics – Drivers, restraints, regulatory impacts, and risk mitigation strategies.
Chapter 9: Actionable conclusions and strategic recommendations.
Why This Report?
Unlike generic global market reports, this study combines macro-level industry trends with hyper-local operational intelligence, empowering data-driven decisions across the Multi-Factor Authentication (MFA) value chain, addressing:
- Âé¶¹Ô´´ entry risks/opportunities by region
- Product mix optimization based on local practices
- Competitor tactics in fragmented vs. consolidated markets
Please Note - This is an on demand report and will be delivered in 2 business days (48 hours) post payment.
1 Report Overview
1.1 Study Scope
1.2 Âé¶¹Ô´´ by Type
1.2.1 Global Âé¶¹Ô´´ Size Growth by Type: 2020 VS 2024 VS 2031
1.2.2 Two-Factor Authentication
1.2.3 Three-Factor Authentication
1.2.4 Others
1.3 Âé¶¹Ô´´ by Application
1.3.1 Global Âé¶¹Ô´´ Share by Application: 2020 VS 2024 VS 2031
1.3.2 Banking and Finance
1.3.3 Government
1.3.4 Travel and Immigration
1.3.5 Military and Defense
1.3.6 Commercial Security
1.3.7 Consumer Electronics
1.3.8 Healthcare
1.3.9 Others
1.4 Assumptions and Limitations
1.5 Study Objectives
1.6 Years Considered
2 Global Growth Trends
2.1 Global Multi-Factor Authentication (MFA) Âé¶¹Ô´´ Perspective (2020-2031)
2.2 Global Âé¶¹Ô´´ Size by Region: 2020 VS 2024 VS 2031
2.3 Global Multi-Factor Authentication (MFA) Revenue Âé¶¹Ô´´ Share by Region (2020-2025)
2.4 Global Multi-Factor Authentication (MFA) Revenue Forecast by Region (2026-2031)
2.5 Major Region and Emerging Âé¶¹Ô´´ Analysis
2.5.1 North America Multi-Factor Authentication (MFA) Âé¶¹Ô´´ Size and Prospective (2020-2031)
2.5.2 Europe Multi-Factor Authentication (MFA) Âé¶¹Ô´´ Size and Prospective (2020-2031)
2.5.3 Japan Multi-Factor Authentication (MFA) Âé¶¹Ô´´ Size and Prospective (2020-2031)
3 Breakdown Data by Type
3.1 Global Multi-Factor Authentication (MFA) Historic Âé¶¹Ô´´ Size by Type (2020-2025)
3.2 Global Multi-Factor Authentication (MFA) Forecasted Âé¶¹Ô´´ Size by Type (2026-2031)
3.3 Different Types Multi-Factor Authentication (MFA) Representative Players
4 Breakdown Data by Application
4.1 Global Multi-Factor Authentication (MFA) Historic Âé¶¹Ô´´ Size by Application (2020-2025)
4.2 Global Multi-Factor Authentication (MFA) Forecasted Âé¶¹Ô´´ Size by Application (2026-2031)
4.3 New Sources of Growth in Multi-Factor Authentication (MFA) Application
5 Competition Landscape by Players
5.1 Global Top Players by Revenue
5.1.1 Global Top Multi-Factor Authentication (MFA) Players by Revenue (2020-2025)
5.1.2 Global Multi-Factor Authentication (MFA) Revenue Âé¶¹Ô´´ Share by Players (2020-2025)
5.2 Global Âé¶¹Ô´´ Share by Company Type (Tier 1, Tier 2, and Tier 3)
5.3 Players Covered: Ranking by Multi-Factor Authentication (MFA) Revenue
5.4 Global Multi-Factor Authentication (MFA) Âé¶¹Ô´´ Concentration Analysis
5.4.1 Global Multi-Factor Authentication (MFA) Âé¶¹Ô´´ Concentration Ratio (CR5 and HHI)
5.4.2 Global Top 10 and Top 5 Companies by Multi-Factor Authentication (MFA) Revenue in 2024
5.5 Global Key Players of Multi-Factor Authentication (MFA) Head office and Area Served
5.6 Global Key Players of Multi-Factor Authentication (MFA), Product and Application
5.7 Global Key Players of Multi-Factor Authentication (MFA), Date of Enter into This Industry
5.8 Mergers & Acquisitions, Expansion Plans
6 Region Analysis
6.1 North America Âé¶¹Ô´´: Players, Segments and Downstream
6.1.1 North America Multi-Factor Authentication (MFA) Revenue by Company (2020-2025)
6.1.2 North America Âé¶¹Ô´´ Size by Type
6.1.2.1 North America Multi-Factor Authentication (MFA) Âé¶¹Ô´´ Size by Type (2020-2025)
6.1.2.2 North America Multi-Factor Authentication (MFA) Âé¶¹Ô´´ Share by Type (2020-2025)
6.1.3 North America Âé¶¹Ô´´ Size by Application
6.1.3.1 North America Multi-Factor Authentication (MFA) Âé¶¹Ô´´ Size by Application (2020-2025)
6.1.3.2 North America Multi-Factor Authentication (MFA) Âé¶¹Ô´´ Share by Application (2020-2025)
6.1.4 North America Âé¶¹Ô´´ Trend and Opportunities
6.2 Europe Âé¶¹Ô´´: Players, Segments and Downstream
6.2.1 Europe Multi-Factor Authentication (MFA) Revenue by Company (2020-2025)
6.2.2 Europe Âé¶¹Ô´´ Size by Type
6.2.2.1 Europe Multi-Factor Authentication (MFA) Âé¶¹Ô´´ Size by Type (2020-2025)
6.2.2.2 Europe Multi-Factor Authentication (MFA) Âé¶¹Ô´´ Share by Type (2020-2025)
6.2.3 Europe Âé¶¹Ô´´ Size by Application
6.2.3.1 Europe Multi-Factor Authentication (MFA) Âé¶¹Ô´´ Size by Application (2020-2025)
6.2.3.2 Europe Multi-Factor Authentication (MFA) Âé¶¹Ô´´ Share by Application (2020-2025)
6.2.4 Europe Âé¶¹Ô´´ Trend and Opportunities
6.3 Japan Âé¶¹Ô´´: Players, Segments and Downstream
6.3.1 Japan Multi-Factor Authentication (MFA) Revenue by Company (2020-2025)
6.3.2 Japan Âé¶¹Ô´´ Size by Type
6.3.2.1 Japan Multi-Factor Authentication (MFA) Âé¶¹Ô´´ Size by Type (2020-2025)
6.3.2.2 Japan Multi-Factor Authentication (MFA) Âé¶¹Ô´´ Share by Type (2020-2025)
6.3.3 Japan Âé¶¹Ô´´ Size by Application
6.3.3.1 Japan Multi-Factor Authentication (MFA) Âé¶¹Ô´´ Size by Application (2020-2025)
6.3.3.2 Japan Multi-Factor Authentication (MFA) Âé¶¹Ô´´ Share by Application (2020-2025)
6.3.4 Japan Âé¶¹Ô´´ Trend and Opportunities
7 Key Players Profiles
7.1 Morpho (France)
7.1.1 Morpho (France) Company Details
7.1.2 Morpho (France) Business Overview
7.1.3 Morpho (France) Multi-Factor Authentication (MFA) Introduction
7.1.4 Morpho (France) Revenue in Multi-Factor Authentication (MFA) Business (2020-2025)
7.1.5 Morpho (France) Recent Development
7.2 Gemalto (Netherlands)
7.2.1 Gemalto (Netherlands) Company Details
7.2.2 Gemalto (Netherlands) Business Overview
7.2.3 Gemalto (Netherlands) Multi-Factor Authentication (MFA) Introduction
7.2.4 Gemalto (Netherlands) Revenue in Multi-Factor Authentication (MFA) Business (2020-2025)
7.2.5 Gemalto (Netherlands) Recent Development
7.3 NEC (Japan)
7.3.1 NEC (Japan) Company Details
7.3.2 NEC (Japan) Business Overview
7.3.3 NEC (Japan) Multi-Factor Authentication (MFA) Introduction
7.3.4 NEC (Japan) Revenue in Multi-Factor Authentication (MFA) Business (2020-2025)
7.3.5 NEC (Japan) Recent Development
7.4 Entrust Inc. (US)
7.4.1 Entrust Inc. (US) Company Details
7.4.2 Entrust Inc. (US) Business Overview
7.4.3 Entrust Inc. (US) Multi-Factor Authentication (MFA) Introduction
7.4.4 Entrust Inc. (US) Revenue in Multi-Factor Authentication (MFA) Business (2020-2025)
7.4.5 Entrust Inc. (US) Recent Development
7.5 Broadcom
7.5.1 Broadcom Company Details
7.5.2 Broadcom Business Overview
7.5.3 Broadcom Multi-Factor Authentication (MFA) Introduction
7.5.4 Broadcom Revenue in Multi-Factor Authentication (MFA) Business (2020-2025)
7.5.5 Broadcom Recent Development
7.6 Fujitsu (Japan)
7.6.1 Fujitsu (Japan) Company Details
7.6.2 Fujitsu (Japan) Business Overview
7.6.3 Fujitsu (Japan) Multi-Factor Authentication (MFA) Introduction
7.6.4 Fujitsu (Japan) Revenue in Multi-Factor Authentication (MFA) Business (2020-2025)
7.6.5 Fujitsu (Japan) Recent Development
7.7 VASCO Data Security (US)
7.7.1 VASCO Data Security (US) Company Details
7.7.2 VASCO Data Security (US) Business Overview
7.7.3 VASCO Data Security (US) Multi-Factor Authentication (MFA) Introduction
7.7.4 VASCO Data Security (US) Revenue in Multi-Factor Authentication (MFA) Business (2020-2025)
7.7.5 VASCO Data Security (US) Recent Development
7.8 HID Global (US)
7.8.1 HID Global (US) Company Details
7.8.2 HID Global (US) Business Overview
7.8.3 HID Global (US) Multi-Factor Authentication (MFA) Introduction
7.8.4 HID Global (US) Revenue in Multi-Factor Authentication (MFA) Business (2020-2025)
7.8.5 HID Global (US) Recent Development
7.9 RSA Security (US)
7.9.1 RSA Security (US) Company Details
7.9.2 RSA Security (US) Business Overview
7.9.3 RSA Security (US) Multi-Factor Authentication (MFA) Introduction
7.9.4 RSA Security (US) Revenue in Multi-Factor Authentication (MFA) Business (2020-2025)
7.9.5 RSA Security (US) Recent Development
7.10 Symantec Corporation (US)
7.10.1 Symantec Corporation (US) Company Details
7.10.2 Symantec Corporation (US) Business Overview
7.10.3 Symantec Corporation (US) Multi-Factor Authentication (MFA) Introduction
7.10.4 Symantec Corporation (US) Revenue in Multi-Factor Authentication (MFA) Business (2020-2025)
7.10.5 Symantec Corporation (US) Recent Development
7.11 SecurEnvoy ltd (England)
7.11.1 SecurEnvoy ltd (England) Company Details
7.11.2 SecurEnvoy ltd (England) Business Overview
7.11.3 SecurEnvoy ltd (England) Multi-Factor Authentication (MFA) Introduction
7.11.4 SecurEnvoy ltd (England) Revenue in Multi-Factor Authentication (MFA) Business (2020-2025)
7.11.5 SecurEnvoy ltd (England) Recent Development
7.12 Crossmatch (US)
7.12.1 Crossmatch (US) Company Details
7.12.2 Crossmatch (US) Business Overview
7.12.3 Crossmatch (US) Multi-Factor Authentication (MFA) Introduction
7.12.4 Crossmatch (US) Revenue in Multi-Factor Authentication (MFA) Business (2020-2025)
7.12.5 Crossmatch (US) Recent Development
7.13 Duo Secuirty (US)
7.13.1 Duo Secuirty (US) Company Details
7.13.2 Duo Secuirty (US) Business Overview
7.13.3 Duo Secuirty (US) Multi-Factor Authentication (MFA) Introduction
7.13.4 Duo Secuirty (US) Revenue in Multi-Factor Authentication (MFA) Business (2020-2025)
7.13.5 Duo Secuirty (US) Recent Development
7.14 Deepnet Security (England)
7.14.1 Deepnet Security (England) Company Details
7.14.2 Deepnet Security (England) Business Overview
7.14.3 Deepnet Security (England) Multi-Factor Authentication (MFA) Introduction
7.14.4 Deepnet Security (England) Revenue in Multi-Factor Authentication (MFA) Business (2020-2025)
7.14.5 Deepnet Security (England) Recent Development
7.15 CensorNet Ltd. (England)
7.15.1 CensorNet Ltd. (England) Company Details
7.15.2 CensorNet Ltd. (England) Business Overview
7.15.3 CensorNet Ltd. (England) Multi-Factor Authentication (MFA) Introduction
7.15.4 CensorNet Ltd. (England) Revenue in Multi-Factor Authentication (MFA) Business (2020-2025)
7.15.5 CensorNet Ltd. (England) Recent Development
8 Multi-Factor Authentication (MFA) Âé¶¹Ô´´ Dynamics
8.1 Multi-Factor Authentication (MFA) Industry Trends
8.2 Multi-Factor Authentication (MFA) Âé¶¹Ô´´ Drivers
8.3 Multi-Factor Authentication (MFA) Âé¶¹Ô´´ Challenges
8.4 Multi-Factor Authentication (MFA) Âé¶¹Ô´´ Restraints
9 Research Findings and Conclusion
10 Appendix
10.1 Research Methodology
10.1.1 Methodology/Research Approach
10.1.1.1 Research Programs/Design
10.1.1.2 Âé¶¹Ô´´ Size Estimation
10.1.1.3 Âé¶¹Ô´´ Breakdown and Data Triangulation
10.1.2 Data Source
10.1.2.1 Secondary Sources
10.1.2.2 Primary Sources
10.2 Author Details
10.3 Disclaimer
Morpho (France)
Gemalto (Netherlands)
NEC (Japan)
Entrust Inc. (US)
Broadcom
Fujitsu (Japan)
VASCO Data Security (US)
HID Global (US)
RSA Security (US)
Symantec Corporation (US)
SecurEnvoy ltd (England)
Crossmatch (US)
Duo Secuirty (US)
Deepnet Security (England)
CensorNet Ltd. (England)
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*If Applicable.
