global two factor authentication market 2021 key competitors analysis with recent trends, size, industry share and regional forecast to 2027

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the global two factor authentication market 2020 is on track to procure a strong growth rate of 17.28% between 2019 and 2024 (assessment period), says market research future (mrfr).

The Global Two Factor Authentication Market 2020 is on track to procure a strong growth rate of 17.28% between 2019 and 2024 (assessment period), says Market Research Future (MRFR). MRFR predicts considerable market growth as it is set to reach the size of USD 8,984.7 million by 2024.

The surge in security breaches as well as cyber-attacks, paired with the considerable rise in online frauds has been instrumental in market growth for two-factor authentication. These cyber-attacks have risen mostly in small and medium enterprises via ransom ware to seize their financial and online accounts. The situation can be handled with the use of MFA systems in employees' computer devices and smartphones that help verify the user’s identity. Given the mounting awareness regarding this technology, more and more organizations are now demanding advanced forms of two-factor MFA systems that can help them prevent data loss as well as save them money.

The fast expansion of sectors including retail, banking, financial services and insurance (BFSI) and healthcare has been crucial for the growth of authentication systems, since enterprises need to ensure not only their but also their customers’ security. For example, banks are entities that conduct countless functions, such as trade finance, core banking, online banking and international payments that require safe connections for smooth user experience. Hence, the demand for two-factor authentication systems is quite high in this industry and can benefit the global market to a large extent.

The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Global Two Factor Authentication Market .The growth sectors of the Global Two Factor Authentication Market  are identified with precision for a better growth perspective

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Competitive Outlook:


EMC Corporation (U.S.), Gemalto N.V. (Netherlands), Amazon Web Services Inc. (U.S.), Entrust Inc. (U.S.), The 3M Company (U.S.), Safran S.A. (France), NEC Corporation (Japan), Fujitsu Ltd (Japan), Cross Match Technologies Inc. (U.S.), RCG Holdings Limited (Malaysia), ValidSoft (U.K), Suprema Inc. (South Korea), Sagem Morpho (U.S.), Deepnet Security Ltd, Confident Technologies Inc. (U.S.), Watchdata Technologies (Singapore) and Technology Nexus (U.S.) and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global Global Two Factor Authentication Market  Leaders.



  • The global Global Two Factor Authentication Market is classified into 5 key segments for the convenience of the report and enhanced understanding;
  • Segmentation by Type: Comprises of one key password, public key infrastructure and others.
  • Segmentation by Model : Comprises of smart card with pin, smart card with biometric technology, biometric technology with pin, two-factor biometric technology, one time password with pin and others.
  • Segmentation by Technology: Comprises of physical and logical access control, SafeNet OTP authenticators, out-of-band authenticators, MobilePKI office suite, PKI authenticators and others.
  • Segmentation by End User: Comprises of banking and finance, consumer electronics, healthcare, government, travel and immigration, military and defense, commercial security and others.
  • Segmentation by Regions: Comprises Geographical regions - North America, Europe, Asia Pacific and Rest of the World.

Regional Analysis:

Multi-factor authentication market based companies in the Global Two Factor Authentication Market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world. The increasing awareness among consumers will be a key growth driver for regional markets. However, the lack of R&D investments will turn out to be a threat. For the forecast period 2019 to 2024 each of these regional markets are studied in the report.

Starting from North America, the regional market and multi-factor authentication vertical based companies are spread across the United States, Canada, and Mexico. The lack of skilled human resources will turn out to be a major challenge from 2019 to 2024. Parts of the European market covered in the report are regional markets spread across the United Kingdom, France, Italy, and Germany.

The market in the region will be benefitted by the presence of untapped market opportunities as well as technological developments, suggests the report. Similarly, the multi-factor authentication sector’s segmental analysis for the Asia Pacific region covers India, Japan, China, and others. For the rest of the world, the research report for the Global Two Factor Authentication Market covers the Middle East and Africa.

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Table of Contents:

1 Executive Summary

2 Market Introduction

2.1 Definition

2.2 Scope Of The Study

2.3 Market Structure

3 Research Methodology

3.1 Research Process

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

3.5 Forecast Model

3.6 List Of Assumptions



About Market Research Future:

Market Research Future (MRFR) has created a niche in the world of market research. It is counted among the top market research companies that offer well-researched and updated market research reports and insights to businesses of all sizes. What sets us apart is our super-responsive team that offers quality work keeping clients abridged of the prospective challenges and opportunities in various markets. Our team is adept in their space as well as patiently listens to every client.


The best part is they know their work inside out and possess the expertise to guide the client in the right direction and achieve results on a tight deadline. We are a one-stop solution for all your data research needs. Our team does not believe in the “one size fits all” approach to creating a report that is detailed and concise. We handle 13 industry verticals including Healthcare, Chemicals and Materials, Information and Communications Technology, Semiconductor and Electronics, Energy and Power, Food, Beverages & Nutrition, Automobile, Consumer and Retail, Aerospace and Defense, Industrial Automation and Equipment, Packaging & Transport, Construction, and Agriculture. With our unique approach for every market report, we aim to reach the zenith in qualitative business intelligence and syndicated market research. 



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Submitted: May 25, 2021

© Copyright 2021 Nikhil R. All rights reserved.

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