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TMCNet:  Multi-Factor Authentication (MFA) Global Market to Reach $53 Billion by 2030: Insurance Companies Prioritize MFA amid Growing Complexities in Data Management

[March 16, 2023]

Multi-Factor Authentication (MFA) Global Market to Reach $53 Billion by 2030: Insurance Companies Prioritize MFA amid Growing Complexities in Data Management

DUBLIN, March 16, 2023 /PRNewswire/ -- The "Multi-Factor Authentication (MFA): Global Strategic Business Report" report has been added to's offering.

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The global market for Multi-Factor Authentication (MFA) estimated at US$17.9 Billion in the year 2022, is projected to reach a revised size of US$53 Billion by 2030, growing at a CAGR of 14.6% over the analysis period 2022-2030.

Two Factor Authentication, one of the segments analyzed in the report, is projected to record 13.3% CAGR and reach US$33.5 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Three Factor Authentication segment is readjusted to a revised 18.8% CAGR for the next 8-year period.

The U.S. Market is Estimated at $4.9 Billion, While China is Forecast to Grow at 20.7% CAGR

The Multi-Factor Authentication (MFA) market in the U.S. is estimated at US$4.9 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$13.5 Billion by the year 2030 trailing a CAGR of 20.7% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.3% and 11.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 9.9% CAGR.

Select Competitors (Total 13 Featured) -

  • CA Technologies
  • Gemalto NV
  • RSA Security, Inc.
  • li>SAFRAN Group
  • Symantec Corporation

What`s New for 2023?

  • Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and Research Platform
  • Complimentary updates for one year

Key Topics Covered:




  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • Multi-Factor Authentication (MFA) - Global Key Competitors Percentage Market Share in 2022 (E)
  • Market Overview
  • Factors Driving MFA
  • Increasing Rates of Cybercrime to Drive MFA Adoption
  • Cyberattacks by Industry: 2019
  • Cloud Computing Adds Avenues for MFA
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)



  • Trends Summarized for MFA
  • Rise in Smartphone Usage Drive the Need for MFA
  • Smartphone Sales Worldwide in Million Units: 2007-2022
  • Wearables Widen Opportunities for MFA
  • Global Wearble Shipments in Million Units: 2017-2022
  • Authentication as a Service (AaaS) Grows in Prominence
  • Enterprise Mobility & BYOD Movement Picks up Pace, Triggering the Need for MFA
  • Data Protection Regulations Mandate Use of MFA
  • Rise in eCommerce Market & Increasingg Data Protection Needs Fuel Demand for MFA
  • Global eCommerce as a Percentage of Retail Sales: 2017-2022
  • Growing Global Interest in E-Governance Drives Demand for MFA in the Government Sector
  • Banking & Financial Services Security Drives Interest in MFA
  • Insurance Companies Prioritize MFA amid Growing Complexities in Data Management
  • Opportunities for MFA in the Healthcare Sector
  • Online Gaming Platforms Drive MFA to Secure their Operations
  • Market Issues




For more information about this report visit

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