Multi Factor Authentication Market
Multi-Factor Authentication Market Forecasts to 2030 - Global Analysis By Authentication Type (Passwordless Authentication and Password-Based Authentication), Model Type, Component, End User, and By Geography
According to Stratistics MRC, the Global Multi-Factor Authentication Market is accounted for $16.59 billion in 2023 and is expected to reach $47.47 billion by 2030 growing at a CAGR of 16.2% during the forecast period. Multi-Factor Authentication (MFA) is a security measure that requires users to provide multiple forms of verification to access an account or system. Typically, this involves combining something the user knows (like a password) with something they have (like a smartphone for receiving a code via SMS or a token generator) and/or something they are (like a fingerprint or facial recognition). MFA enhances security by adding layers of protection against unauthorized access, as it makes it more difficult for attackers to breach an account solely by obtaining one piece of authentication information.
According to the US Federal Trade Commission (FTC), more than 5.88 million fraud reports were received on their portal in 2021.
Market Dynamics:
Driver:
Increasing adoption of cloud services
MFA solutions play a critical role in securing access to cloud resources by adding an additional layer of authentication beyond traditional passwords. Cloud services, such as Software-as-a-Service (SaaS), Infrastructure-as-a-Service (IaaS), and Platform-as-a-Service (PaaS), enable users to access data and applications from anywhere, at any time, using various devices. In addition, these solutions address challenges by requiring users to authenticate their identities, which drive this market further.
Restraint:
High cost
Implementing MFA solutions involves several expenses, including upfront investments in hardware tokens, biometric devices, software licenses, and ongoing maintenance costs. For smaller businesses or organizations with limited budgets, the initial investment required for MFA may be perceived as prohibitively high. Additionally, ongoing expenses related to maintenance, upgrades, and user support further contribute to the total cost of ownership for MFA solutions.
Opportunity:
Rising awareness and education
Organizations are investing in employee training programs and cybersecurity awareness initiatives to educate users about the risks of weak authentication practices and promote the adoption of MFA technologies. Education initiatives, cybersecurity awareness campaigns, and media coverage of high-profile security breaches have contributed to a greater understanding. Moreover, by empowering users with knowledge about the benefits and importance of MFA, organizations can drive adoption and implementation efforts more effectively.
Threat:
Lack of standardization
The absence of universal standards for MFA can lead to fragmentation within the market, with different vendors offering proprietary authentication methods and protocols. This lack of standardization complicates integration efforts, increases implementation costs, and limits the interoperability of MFA solutions with existing IT infrastructure and applications. Additionally, inconsistencies in MFA implementations can lead to confusion, frustration, and resistance to using secure authentication methods, hence hindering market growth.
Covid-19 Impact
The COVID-19 pandemic has had a mixed impact on the Multi-Factor Authentication (MFA) market. The economic uncertainty caused by the pandemic prompted some organizations to postpone or scale back investments in cybersecurity initiatives, including MFA projects, as they prioritized cost-cutting measures and business continuity efforts. However, some businesses may have struggled to allocate resources and prioritize cybersecurity investments amidst the immediate challenges posed by the pandemic, which thereby impeded market expansion.
The password-based authentication segment is expected to be the largest during the forecast period
The password-based authentication segment is estimated to hold the largest share because it involves users providing a single factor—typically a password or passphrase—to access their accounts or systems. This includes methods such as biometric authentication, one-time passwords (OTPs), and authentication codes. Moreover, there is a growing demand for MFA solutions that enhance security by requiring users to provide additional forms of verification beyond just a password, which is boosting this segment’s expansion.
The hardware segment is expected to have the highest CAGR during the forecast period
The hardware segment is anticipated to have highest CAGR during the forecast period due to its crucial role in providing secure and reliable authentication solutions to organizations and individuals. It involves the use of physical devices, such as tokens or smart cards, to generate or store authentication credentials. Furthermore, these solutions offer advantages such as offline functionality, resilience to phishing attacks, and compliance with industry regulations and standards, thereby driving this segment’s growth.
Region with largest share:
North America commanded the largest market share during the extrapolated period owing to increasing cybersecurity concerns, stringent regulatory requirements, and widespread adoption of digital technologies across various industries. The region encompasses the United States, Canada, and Mexico, which are home to a large number of technology companies, financial institutions, government agencies, and enterprises that prioritize cybersecurity. Additionally, businesses and government entities are increasingly investing in MFA solutions to protect sensitive data and prevent unauthorized access, which thereby increases this region’s size.
Region with highest CAGR:
Europe is expected to witness highest CAGR over the projection period, owing to a strong focus on data protection, privacy regulations, and cybersecurity awareness. Additionally, the rise in cyber threats, including identity theft, phishing attacks, and data breaches, has propelled organizations to adopt MFA solutions to mitigate risks. Collaborations between industry stakeholders, government agencies, and regulatory bodies contribute to the growth and adoption of MFA technologies in Europe.
Key players in the market
Some of the key players in the Multi-Factor Authentication Market include IBM Corporation, Vasco Data Security International, Inc., Thales, Safran S.A., Gemalto NV, Microsoft Corporation, Okta,, Fujitsu America, Inc., Salesforce.com, Inc. , 3M, RSA Security LLC, Google LLC, CA Technologies, Symantec Corporation and Ping Identity Corporation.
Key Developments:
In January 2024, Google and Worldline announced a strategic partnership designed to leverage cutting-edge cloud-based technologies from google cloud to take worldline's digital transformation further.
In December 2023, IBM announced that it has entered into a definitive agreement with Software AG, a company majority owned by Silver Lake, to purchase StreamSets and webMethods, Software AG's Super iPaaS (integration platform-as-a-service) enterprise technology platforms, for €2.13 billion in cash.
In September 2023, Thales and Kyndryl announced partnership for comprehensive response to cybersecurity incidents.
Authentication types Covered:
• Passwordless Authentication
• Password-Based Authentication
Model Types Covered:
• Two Factor Authentication
• Three Factor Authentication
• Four Factor Authentication
• Five-Factor Authentication
• Other Model Types
Components Covered:
• Hardware
• Services
• Software
End Users Covered:
• Banking, Financial Services, and Insurance (BFSI)
• Government and Defense
• Healthcare
• IT and Telecommunications
• Retail
• Energy and Utilities
• Manufacturing
• Education
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Multi-Factor Authentication Market, By Authentication Type
5.1 Introduction
5.2 Passwordless Authentication
5.3 Password-Based Authentication
6 Global Multi-Factor Authentication Market, By Model Type
6.1 Introduction
6.2 Two Factor Authentication
6.3 Three Factor Authentication
6.4 Four Factor Authentication
6.5 Five-Factor Authentication
6.6 Other Model Types
7 Global Multi-Factor Authentication Market, By Component
7.1 Introduction
7.2 Hardware
7.3 Services
7.4 Software
8 Global Multi-Factor Authentication Market, By End User
8.1 Introduction
8.2 Banking, Financial Services, and Insurance (BFSI)
8.3 Government and Defense
8.4 Healthcare
8.5 IT and Telecommunications
8.6 Retail
8.7 Energy and Utilities
8.8 Manufacturing
8.9 Education
8.10 Other End Users
9 Global Multi-Factor Authentication Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 IBM Corporation
11.2 Vasco Data Security International, Inc.
11.3 Thales
11.4 Safran S.A.
11.5 Gemalto NV
11.6 Microsoft Corporation
11.7 Okta
11.8 Fujitsu America, Inc.
11.9 Salesforce.com, Inc.
11.10 3M
11.11 RSA Security LLC
11.12 Google LLC
11.13 CA Technologies
11.14 Symantec Corporation
11.15 Ping Identity Corporation
List of Tables
1 Global Multi-Factor Authentication Market Outlook, By Region (2021-2030) ($MN)
2 Global Multi-Factor Authentication Market Outlook, By Authentication Type (2021-2030) ($MN)
3 Global Multi-Factor Authentication Market Outlook, By Passwordless Authentication (2021-2030) ($MN)
4 Global Multi-Factor Authentication Market Outlook, By Password-Based Authentication (2021-2030) ($MN)
5 Global Multi-Factor Authentication Market Outlook, By Model Type (2021-2030) ($MN)
6 Global Multi-Factor Authentication Market Outlook, By Two Factor Authentication (2021-2030) ($MN)
7 Global Multi-Factor Authentication Market Outlook, By Three Factor Authentication (2021-2030) ($MN)
8 Global Multi-Factor Authentication Market Outlook, By Four Factor Authentication (2021-2030) ($MN)
9 Global Multi-Factor Authentication Market Outlook, By Five-Factor Authentication (2021-2030) ($MN)
10 Global Multi-Factor Authentication Market Outlook, By Other Model Types (2021-2030) ($MN)
11 Global Multi-Factor Authentication Market Outlook, By Component (2021-2030) ($MN)
12 Global Multi-Factor Authentication Market Outlook, By Hardware (2021-2030) ($MN)
13 Global Multi-Factor Authentication Market Outlook, By Services (2021-2030) ($MN)
14 Global Multi-Factor Authentication Market Outlook, By Software (2021-2030) ($MN)
15 Global Multi-Factor Authentication Market Outlook, By End User (2021-2030) ($MN)
16 Global Multi-Factor Authentication Market Outlook, By Banking, Financial Services, and Insurance (BFSI) (2021-2030) ($MN)
17 Global Multi-Factor Authentication Market Outlook, By Government and Defense (2021-2030) ($MN)
18 Global Multi-Factor Authentication Market Outlook, By Healthcare (2021-2030) ($MN)
19 Global Multi-Factor Authentication Market Outlook, By IT and Telecommunications (2021-2030) ($MN)
20 Global Multi-Factor Authentication Market Outlook, By Retail (2021-2030) ($MN)
21 Global Multi-Factor Authentication Market Outlook, By Energy and Utilities (2021-2030) ($MN)
22 Global Multi-Factor Authentication Market Outlook, By Manufacturing (2021-2030) ($MN)
23 Global Multi-Factor Authentication Market Outlook, By Education (2021-2030) ($MN)
24 Global Multi-Factor Authentication Market Outlook, By Other End Users (2021-2030) ($MN)
25 North America Multi-Factor Authentication Market Outlook, By Country (2021-2030) ($MN)
26 North America Multi-Factor Authentication Market Outlook, By Authentication Type (2021-2030) ($MN)
27 North America Multi-Factor Authentication Market Outlook, By Passwordless Authentication (2021-2030) ($MN)
28 North America Multi-Factor Authentication Market Outlook, By Password-Based Authentication (2021-2030) ($MN)
29 North America Multi-Factor Authentication Market Outlook, By Model Type (2021-2030) ($MN)
30 North America Multi-Factor Authentication Market Outlook, By Two Factor Authentication (2021-2030) ($MN)
31 North America Multi-Factor Authentication Market Outlook, By Three Factor Authentication (2021-2030) ($MN)
32 North America Multi-Factor Authentication Market Outlook, By Four Factor Authentication (2021-2030) ($MN)
33 North America Multi-Factor Authentication Market Outlook, By Five-Factor Authentication (2021-2030) ($MN)
34 North America Multi-Factor Authentication Market Outlook, By Other Model Types (2021-2030) ($MN)
35 North America Multi-Factor Authentication Market Outlook, By Component (2021-2030) ($MN)
36 North America Multi-Factor Authentication Market Outlook, By Hardware (2021-2030) ($MN)
37 North America Multi-Factor Authentication Market Outlook, By Services (2021-2030) ($MN)
38 North America Multi-Factor Authentication Market Outlook, By Software (2021-2030) ($MN)
39 North America Multi-Factor Authentication Market Outlook, By End User (2021-2030) ($MN)
40 North America Multi-Factor Authentication Market Outlook, By Banking, Financial Services, and Insurance (BFSI) (2021-2030) ($MN)
41 North America Multi-Factor Authentication Market Outlook, By Government and Defense (2021-2030) ($MN)
42 North America Multi-Factor Authentication Market Outlook, By Healthcare (2021-2030) ($MN)
43 North America Multi-Factor Authentication Market Outlook, By IT and Telecommunications (2021-2030) ($MN)
44 North America Multi-Factor Authentication Market Outlook, By Retail (2021-2030) ($MN)
45 North America Multi-Factor Authentication Market Outlook, By Energy and Utilities (2021-2030) ($MN)
46 North America Multi-Factor Authentication Market Outlook, By Manufacturing (2021-2030) ($MN)
47 North America Multi-Factor Authentication Market Outlook, By Education (2021-2030) ($MN)
48 North America Multi-Factor Authentication Market Outlook, By Other End Users (2021-2030) ($MN)
49 Europe Multi-Factor Authentication Market Outlook, By Country (2021-2030) ($MN)
50 Europe Multi-Factor Authentication Market Outlook, By Authentication Type (2021-2030) ($MN)
51 Europe Multi-Factor Authentication Market Outlook, By Passwordless Authentication (2021-2030) ($MN)
52 Europe Multi-Factor Authentication Market Outlook, By Password-Based Authentication (2021-2030) ($MN)
53 Europe Multi-Factor Authentication Market Outlook, By Model Type (2021-2030) ($MN)
54 Europe Multi-Factor Authentication Market Outlook, By Two Factor Authentication (2021-2030) ($MN)
55 Europe Multi-Factor Authentication Market Outlook, By Three Factor Authentication (2021-2030) ($MN)
56 Europe Multi-Factor Authentication Market Outlook, By Four Factor Authentication (2021-2030) ($MN)
57 Europe Multi-Factor Authentication Market Outlook, By Five-Factor Authentication (2021-2030) ($MN)
58 Europe Multi-Factor Authentication Market Outlook, By Other Model Types (2021-2030) ($MN)
59 Europe Multi-Factor Authentication Market Outlook, By Component (2021-2030) ($MN)
60 Europe Multi-Factor Authentication Market Outlook, By Hardware (2021-2030) ($MN)
61 Europe Multi-Factor Authentication Market Outlook, By Services (2021-2030) ($MN)
62 Europe Multi-Factor Authentication Market Outlook, By Software (2021-2030) ($MN)
63 Europe Multi-Factor Authentication Market Outlook, By End User (2021-2030) ($MN)
64 Europe Multi-Factor Authentication Market Outlook, By Banking, Financial Services, and Insurance (BFSI) (2021-2030) ($MN)
65 Europe Multi-Factor Authentication Market Outlook, By Government and Defense (2021-2030) ($MN)
66 Europe Multi-Factor Authentication Market Outlook, By Healthcare (2021-2030) ($MN)
67 Europe Multi-Factor Authentication Market Outlook, By IT and Telecommunications (2021-2030) ($MN)
68 Europe Multi-Factor Authentication Market Outlook, By Retail (2021-2030) ($MN)
69 Europe Multi-Factor Authentication Market Outlook, By Energy and Utilities (2021-2030) ($MN)
70 Europe Multi-Factor Authentication Market Outlook, By Manufacturing (2021-2030) ($MN)
71 Europe Multi-Factor Authentication Market Outlook, By Education (2021-2030) ($MN)
72 Europe Multi-Factor Authentication Market Outlook, By Other End Users (2021-2030) ($MN)
73 Asia Pacific Multi-Factor Authentication Market Outlook, By Country (2021-2030) ($MN)
74 Asia Pacific Multi-Factor Authentication Market Outlook, By Authentication Type (2021-2030) ($MN)
75 Asia Pacific Multi-Factor Authentication Market Outlook, By Passwordless Authentication (2021-2030) ($MN)
76 Asia Pacific Multi-Factor Authentication Market Outlook, By Password-Based Authentication (2021-2030) ($MN)
77 Asia Pacific Multi-Factor Authentication Market Outlook, By Model Type (2021-2030) ($MN)
78 Asia Pacific Multi-Factor Authentication Market Outlook, By Two Factor Authentication (2021-2030) ($MN)
79 Asia Pacific Multi-Factor Authentication Market Outlook, By Three Factor Authentication (2021-2030) ($MN)
80 Asia Pacific Multi-Factor Authentication Market Outlook, By Four Factor Authentication (2021-2030) ($MN)
81 Asia Pacific Multi-Factor Authentication Market Outlook, By Five-Factor Authentication (2021-2030) ($MN)
82 Asia Pacific Multi-Factor Authentication Market Outlook, By Other Model Types (2021-2030) ($MN)
83 Asia Pacific Multi-Factor Authentication Market Outlook, By Component (2021-2030) ($MN)
84 Asia Pacific Multi-Factor Authentication Market Outlook, By Hardware (2021-2030) ($MN)
85 Asia Pacific Multi-Factor Authentication Market Outlook, By Services (2021-2030) ($MN)
86 Asia Pacific Multi-Factor Authentication Market Outlook, By Software (2021-2030) ($MN)
87 Asia Pacific Multi-Factor Authentication Market Outlook, By End User (2021-2030) ($MN)
88 Asia Pacific Multi-Factor Authentication Market Outlook, By Banking, Financial Services, and Insurance (BFSI) (2021-2030) ($MN)
89 Asia Pacific Multi-Factor Authentication Market Outlook, By Government and Defense (2021-2030) ($MN)
90 Asia Pacific Multi-Factor Authentication Market Outlook, By Healthcare (2021-2030) ($MN)
91 Asia Pacific Multi-Factor Authentication Market Outlook, By IT and Telecommunications (2021-2030) ($MN)
92 Asia Pacific Multi-Factor Authentication Market Outlook, By Retail (2021-2030) ($MN)
93 Asia Pacific Multi-Factor Authentication Market Outlook, By Energy and Utilities (2021-2030) ($MN)
94 Asia Pacific Multi-Factor Authentication Market Outlook, By Manufacturing (2021-2030) ($MN)
95 Asia Pacific Multi-Factor Authentication Market Outlook, By Education (2021-2030) ($MN)
96 Asia Pacific Multi-Factor Authentication Market Outlook, By Other End Users (2021-2030) ($MN)
97 South America Multi-Factor Authentication Market Outlook, By Country (2021-2030) ($MN)
98 South America Multi-Factor Authentication Market Outlook, By Authentication Type (2021-2030) ($MN)
99 South America Multi-Factor Authentication Market Outlook, By Passwordless Authentication (2021-2030) ($MN)
100 South America Multi-Factor Authentication Market Outlook, By Password-Based Authentication (2021-2030) ($MN)
101 South America Multi-Factor Authentication Market Outlook, By Model Type (2021-2030) ($MN)
102 South America Multi-Factor Authentication Market Outlook, By Two Factor Authentication (2021-2030) ($MN)
103 South America Multi-Factor Authentication Market Outlook, By Three Factor Authentication (2021-2030) ($MN)
104 South America Multi-Factor Authentication Market Outlook, By Four Factor Authentication (2021-2030) ($MN)
105 South America Multi-Factor Authentication Market Outlook, By Five-Factor Authentication (2021-2030) ($MN)
106 South America Multi-Factor Authentication Market Outlook, By Other Model Types (2021-2030) ($MN)
107 South America Multi-Factor Authentication Market Outlook, By Component (2021-2030) ($MN)
108 South America Multi-Factor Authentication Market Outlook, By Hardware (2021-2030) ($MN)
109 South America Multi-Factor Authentication Market Outlook, By Services (2021-2030) ($MN)
110 South America Multi-Factor Authentication Market Outlook, By Software (2021-2030) ($MN)
111 South America Multi-Factor Authentication Market Outlook, By End User (2021-2030) ($MN)
112 South America Multi-Factor Authentication Market Outlook, By Banking, Financial Services, and Insurance (BFSI) (2021-2030) ($MN)
113 South America Multi-Factor Authentication Market Outlook, By Government and Defense (2021-2030) ($MN)
114 South America Multi-Factor Authentication Market Outlook, By Healthcare (2021-2030) ($MN)
115 South America Multi-Factor Authentication Market Outlook, By IT and Telecommunications (2021-2030) ($MN)
116 South America Multi-Factor Authentication Market Outlook, By Retail (2021-2030) ($MN)
117 South America Multi-Factor Authentication Market Outlook, By Energy and Utilities (2021-2030) ($MN)
118 South America Multi-Factor Authentication Market Outlook, By Manufacturing (2021-2030) ($MN)
119 South America Multi-Factor Authentication Market Outlook, By Education (2021-2030) ($MN)
120 South America Multi-Factor Authentication Market Outlook, By Other End Users (2021-2030) ($MN)
121 Middle East & Africa Multi-Factor Authentication Market Outlook, By Country (2021-2030) ($MN)
122 Middle East & Africa Multi-Factor Authentication Market Outlook, By Authentication Type (2021-2030) ($MN)
123 Middle East & Africa Multi-Factor Authentication Market Outlook, By Passwordless Authentication (2021-2030) ($MN)
124 Middle East & Africa Multi-Factor Authentication Market Outlook, By Password-Based Authentication (2021-2030) ($MN)
125 Middle East & Africa Multi-Factor Authentication Market Outlook, By Model Type (2021-2030) ($MN)
126 Middle East & Africa Multi-Factor Authentication Market Outlook, By Two Factor Authentication (2021-2030) ($MN)
127 Middle East & Africa Multi-Factor Authentication Market Outlook, By Three Factor Authentication (2021-2030) ($MN)
128 Middle East & Africa Multi-Factor Authentication Market Outlook, By Four Factor Authentication (2021-2030) ($MN)
129 Middle East & Africa Multi-Factor Authentication Market Outlook, By Five-Factor Authentication (2021-2030) ($MN)
130 Middle East & Africa Multi-Factor Authentication Market Outlook, By Other Model Types (2021-2030) ($MN)
131 Middle East & Africa Multi-Factor Authentication Market Outlook, By Component (2021-2030) ($MN)
132 Middle East & Africa Multi-Factor Authentication Market Outlook, By Hardware (2021-2030) ($MN)
133 Middle East & Africa Multi-Factor Authentication Market Outlook, By Services (2021-2030) ($MN)
134 Middle East & Africa Multi-Factor Authentication Market Outlook, By Software (2021-2030) ($MN)
135 Middle East & Africa Multi-Factor Authentication Market Outlook, By End User (2021-2030) ($MN)
136 Middle East & Africa Multi-Factor Authentication Market Outlook, By Banking, Financial Services, and Insurance (BFSI) (2021-2030) ($MN)
137 Middle East & Africa Multi-Factor Authentication Market Outlook, By Government and Defense (2021-2030) ($MN)
138 Middle East & Africa Multi-Factor Authentication Market Outlook, By Healthcare (2021-2030) ($MN)
139 Middle East & Africa Multi-Factor Authentication Market Outlook, By IT and Telecommunications (2021-2030) ($MN)
140 Middle East & Africa Multi-Factor Authentication Market Outlook, By Retail (2021-2030) ($MN)
141 Middle East & Africa Multi-Factor Authentication Market Outlook, By Energy and Utilities (2021-2030) ($MN)
142 Middle East & Africa Multi-Factor Authentication Market Outlook, By Manufacturing (2021-2030) ($MN)
143 Middle East & Africa Multi-Factor Authentication Market Outlook, By Education (2021-2030) ($MN)
144 Middle East & Africa Multi-Factor Authentication Market Outlook, By Other End Users (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
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The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
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