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(USGovernment-News.Com, March 27, 2018 ) The Global multi-factor authentication services market is expected to grow at a CAGR of close to 23% during the forecast period. Enterprises are adopting safe and secure authentication services that allow only an authorized person to access their information.
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.
The Global multi-factor authentication market comprises of software and hardware authentication solutions. Some of the cost-conscious organizations have shifted to the use of software authentication methods. Certain government organizations still use the hardware authentication method.
Multi-factor authentication (MFA) introduces additional layers of security to authenticate the user identity and secure transactions over the internet. One of the key trends escalating market growth is the mounting cases of cyberattacks and data breaches across organizations. This coupled with increasing stringency in regulations to protect sensitive data is expected to bolster the growth of the MFA market.
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