The Europe Multi-Factor Authentication Market would witness market growth of 14.8% CAGR during the forecast period (2023-2030).
Governments and regulatory bodies have recognized the importance of strong authentication measures in safeguarding sensitive information. Regulations like the European Union's General Data Protection Regulation (GDPR) mandate the use of MFA in certain industries and applications. Compliance with these rules has driven the adoption of MFA solutions. The rapid growth of remote work and the hybrid workplace model have significantly altered the security landscape. With employees accessing corporate networks and sensitive data from various locations and devices, the need for secure and flexible authentication methods has become paramount. It has emerged as a critical enabler of secure remote access, ensuring only authorized individuals can connect to company resources.
The digitalization of services has increased reliance on online platforms, including online banking, e-commerce, and cloud-based applications. Users entrust these platforms with their personal and financial information, making it essential to provide a secure authentication process. It plays a pivotal role in strengthening security for these online services by adding an extra layer of identity verification. The widespread utilization of smartphones and mobile devices has made it easier to implement MFA. Users often carry these devices, which can serve as a second authentication factor through SMS-based codes, mobile apps, or biometric authentication methods such as fingerprint or facial recognition. This convenience has further fueled the adoption of MFA.
Europe has been at the forefront of data security laws, with the General Data Protection Regulation (GDPR) being a significant driver of MFA adoption. GDPR mandates strong data security measures, to protect personal and sensitive data. The financial sector in Europe, including banking and fintech, strongly emphasizes security. The revised Payment Services Directive (PSD2) also encourages using MFA for online payments. Many European countries offer e-government services, where MFA is used to secure access to government portals, tax services, and public records. The above factors will drive the market growth in this region.
The Germany market dominated the Europe Multi-Factor Authentication Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,763.9 million by 2030. The UK market is exhibiting a CAGR of 13.8% during (2023 - 2030). Additionally, The France market would experience a CAGR of 15.6% during (2023 - 2030).
Based on Component, the market is segmented into Software, Hardware, and Services. Based on Authentication Type, the market is segmented into Password-Based Authentication, and Passwordless Authentication. Based on Model Type, the market is segmented into Two-Factor Authentication, Three-Factor Authentication, Four-Factor Authentication, and Five-Factor Authentication. Based on Vertical, the market is segmented into BFSI, Government, Travel & Immigration, Military & Defense, Commercial Security, IT, Telecommunication, Healthcare, Media & Entertainment, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Multi-Factor Authentication Market will Hit USD 41.5 Billion by 2030, at a CAGR of 15.2%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Microsoft Corporation, Thales Group S.A., CyberArk Software Ltd., Broadcom, Inc., Micro Focus International PLC, HID Global Corporation, Cisco Systems, Inc., Oracle Corporation, RSA Security LLC, and Salesforce, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Component
- Software
- Hardware
- Services
By Authentication Type
- Password-Based Authentication
- Passwordless Authentication
By Model Type
- Two-Factor Authentication
- Three-Factor Authentication
- Four-Factor Authentication
- Five-Factor Authentication
By Vertical
- BFSI
- Government
- Travel & Immigration
- Military & Defense
- Commercial Security
- IT
- Telecommunication
- Healthcare
- Media & Entertainment
- Others
By Country
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Microsoft Corporation
- Thales Group S.A.
- CyberArk Software Ltd.
- Broadcom, Inc.
- Micro Focus International PLC
- HID Global Corporation
- Cisco Systems, Inc.
- Oracle Corporation
- RSA Security LLC
- Salesforce, Inc.
TABLE 1 Europe Multi-Factor Authentication Market, 2019 - 2022, USD Million
TABLE 2 Europe Multi-Factor Authentication Market, 2023 - 2030, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Multi-Factor Authentication Market
TABLE 4 Product Launches And Product Expansions– Multi-Factor Authentication Market
TABLE 5 Acquisition and Mergers– Multi-Factor Authentication Market
TABLE 6 Europe Multi-Factor Authentication Market by Component, 2019 - 2022, USD Million
TABLE 7 Europe Multi-Factor Authentication Market by Component, 2023 - 2030, USD Million
TABLE 8 Europe Software Market by Country, 2019 - 2022, USD Million
TABLE 9 Europe Software Market by Country, 2023 - 2030, USD Million
TABLE 10 Europe Hardware Market by Country, 2019 - 2022, USD Million
TABLE 11 Europe Hardware Market by Country, 2023 - 2030, USD Million
TABLE 12 Europe Services Market by Country, 2019 - 2022, USD Million
TABLE 13 Europe Services Market by Country, 2023 - 2030, USD Million
TABLE 14 Europe Multi-Factor Authentication Market by Authentication Type, 2019 - 2022, USD Million
TABLE 15 Europe Multi-Factor Authentication Market by Authentication Type, 2023 - 2030, USD Million
TABLE 16 Europe Password-Based Authentication Market by Country, 2019 - 2022, USD Million
TABLE 17 Europe Password-Based Authentication Market by Country, 2023 - 2030, USD Million
TABLE 18 Europe Passwordless Authentication Market by Country, 2019 - 2022, USD Million
TABLE 19 Europe Passwordless Authentication Market by Country, 2023 - 2030, USD Million
TABLE 20 Europe Multi-Factor Authentication Market by Model Type, 2019 - 2022, USD Million
TABLE 21 Europe Multi-Factor Authentication Market by Model Type, 2023 - 2030, USD Million
TABLE 22 Europe Two-Factor Authentication Market by Country, 2019 - 2022, USD Million
TABLE 23 Europe Two-Factor Authentication Market by Country, 2023 - 2030, USD Million
TABLE 24 Europe Three-Factor Authentication Market by Country, 2019 - 2022, USD Million
TABLE 25 Europe Three-Factor Authentication Market by Country, 2023 - 2030, USD Million
TABLE 26 Europe Four-Factor Authentication Market by Country, 2019 - 2022, USD Million
TABLE 27 Europe Four-Factor Authentication Market by Country, 2023 - 2030, USD Million
TABLE 28 Europe Five-Factor Authentication Market by Country, 2019 - 2022, USD Million
TABLE 29 Europe Five-Factor Authentication Market by Country, 2023 - 2030, USD Million
TABLE 30 Europe Multi-Factor Authentication Market by Vertical, 2019 - 2022, USD Million
TABLE 31 Europe Multi-Factor Authentication Market by Vertical, 2023 - 2030, USD Million
TABLE 32 Europe BFSI Market by Country, 2019 - 2022, USD Million
TABLE 33 Europe BFSI Market by Country, 2023 - 2030, USD Million
TABLE 34 Europe Government Market by Country, 2019 - 2022, USD Million
TABLE 35 Europe Government Market by Country, 2023 - 2030, USD Million
TABLE 36 Europe Travel & Immigration Market by Country, 2019 - 2022, USD Million
TABLE 37 Europe Travel & Immigration Market by Country, 2023 - 2030, USD Million
TABLE 38 Europe Military & Defense Market by Country, 2019 - 2022, USD Million
TABLE 39 Europe Military & Defense Market by Country, 2023 - 2030, USD Million
TABLE 40 Europe Commercial Security Market by Country, 2019 - 2022, USD Million
TABLE 41 Europe Commercial Security Market by Country, 2023 - 2030, USD Million
TABLE 42 Europe IT Market by Country, 2019 - 2022, USD Million
TABLE 43 Europe IT Market by Country, 2023 - 2030, USD Million
TABLE 44 Europe Telecommunication Market by Country, 2019 - 2022, USD Million
TABLE 45 Europe Telecommunication Market by Country, 2023 - 2030, USD Million
TABLE 46 Europe Healthcare Market by Country, 2019 - 2022, USD Million
TABLE 47 Europe Healthcare Market by Country, 2023 - 2030, USD Million
TABLE 48 Europe Media & Entertainment Market by Country, 2019 - 2022, USD Million
TABLE 49 Europe Media & Entertainment Market by Country, 2023 - 2030, USD Million
TABLE 50 Europe Others Market by Country, 2019 - 2022, USD Million
TABLE 51 Europe Others Market by Country, 2023 - 2030, USD Million
TABLE 52 Europe Multi-Factor Authentication Market by Country, 2019 - 2022, USD Million
TABLE 53 Europe Multi-Factor Authentication Market by Country, 2023 - 2030, USD Million
TABLE 54 Germany Multi-Factor Authentication Market, 2019 - 2022, USD Million
TABLE 55 Germany Multi-Factor Authentication Market, 2023 - 2030, USD Million
TABLE 56 Germany Multi-Factor Authentication Market by Component, 2019 - 2022, USD Million
TABLE 57 Germany Multi-Factor Authentication Market by Component, 2023 - 2030, USD Million
TABLE 58 Germany Multi-Factor Authentication Market by Authentication Type, 2019 - 2022, USD Million
TABLE 59 Germany Multi-Factor Authentication Market by Authentication Type, 2023 - 2030, USD Million
TABLE 60 Germany Multi-Factor Authentication Market by Model Type, 2019 - 2022, USD Million
TABLE 61 Germany Multi-Factor Authentication Market by Model Type, 2023 - 2030, USD Million
TABLE 62 Germany Multi-Factor Authentication Market by Vertical, 2019 - 2022, USD Million
TABLE 63 Germany Multi-Factor Authentication Market by Vertical, 2023 - 2030, USD Million
TABLE 64 UK Multi-Factor Authentication Market, 2019 - 2022, USD Million
TABLE 65 UK Multi-Factor Authentication Market, 2023 - 2030, USD Million
TABLE 66 UK Multi-Factor Authentication Market by Component, 2019 - 2022, USD Million
TABLE 67 UK Multi-Factor Authentication Market by Component, 2023 - 2030, USD Million
TABLE 68 UK Multi-Factor Authentication Market by Authentication Type, 2019 - 2022, USD Million
TABLE 69 UK Multi-Factor Authentication Market by Authentication Type, 2023 - 2030, USD Million
TABLE 70 UK Multi-Factor Authentication Market by Model Type, 2019 - 2022, USD Million
TABLE 71 UK Multi-Factor Authentication Market by Model Type, 2023 - 2030, USD Million
TABLE 72 UK Multi-Factor Authentication Market by Vertical, 2019 - 2022, USD Million
TABLE 73 UK Multi-Factor Authentication Market by Vertical, 2023 - 2030, USD Million
TABLE 74 France Multi-Factor Authentication Market, 2019 - 2022, USD Million
TABLE 75 France Multi-Factor Authentication Market, 2023 - 2030, USD Million
TABLE 76 France Multi-Factor Authentication Market by Component, 2019 - 2022, USD Million
TABLE 77 France Multi-Factor Authentication Market by Component, 2023 - 2030, USD Million
TABLE 78 France Multi-Factor Authentication Market by Authentication Type, 2019 - 2022, USD Million
TABLE 79 France Multi-Factor Authentication Market by Authentication Type, 2023 - 2030, USD Million
TABLE 80 France Multi-Factor Authentication Market by Model Type, 2019 - 2022, USD Million
TABLE 81 France Multi-Factor Authentication Market by Model Type, 2023 - 2030, USD Million
TABLE 82 France Multi-Factor Authentication Market by Vertical, 2019 - 2022, USD Million
TABLE 83 France Multi-Factor Authentication Market by Vertical, 2023 - 2030, USD Million
TABLE 84 Russia Multi-Factor Authentication Market, 2019 - 2022, USD Million
TABLE 85 Russia Multi-Factor Authentication Market, 2023 - 2030, USD Million
TABLE 86 Russia Multi-Factor Authentication Market by Component, 2019 - 2022, USD Million
TABLE 87 Russia Multi-Factor Authentication Market by Component, 2023 - 2030, USD Million
TABLE 88 Russia Multi-Factor Authentication Market by Authentication Type, 2019 - 2022, USD Million
TABLE 89 Russia Multi-Factor Authentication Market by Authentication Type, 2023 - 2030, USD Million
TABLE 90 Russia Multi-Factor Authentication Market by Model Type, 2019 - 2022, USD Million
TABLE 91 Russia Multi-Factor Authentication Market by Model Type, 2023 - 2030, USD Million
TABLE 92 Russia Multi-Factor Authentication Market by Vertical, 2019 - 2022, USD Million
TABLE 93 Russia Multi-Factor Authentication Market by Vertical, 2023 - 2030, USD Million
TABLE 94 Spain Multi-Factor Authentication Market, 2019 - 2022, USD Million
TABLE 95 Spain Multi-Factor Authentication Market, 2023 - 2030, USD Million
TABLE 96 Spain Multi-Factor Authentication Market by Component, 2019 - 2022, USD Million
TABLE 97 Spain Multi-Factor Authentication Market by Component, 2023 - 2030, USD Million
TABLE 98 Spain Multi-Factor Authentication Market by Authentication Type, 2019 - 2022, USD Million
TABLE 99 Spain Multi-Factor Authentication Market by Authentication Type, 2023 - 2030, USD Million
TABLE 100 Spain Multi-Factor Authentication Market by Model Type, 2019 - 2022, USD Million
TABLE 101 Spain Multi-Factor Authentication Market by Model Type, 2023 - 2030, USD Million
TABLE 102 Spain Multi-Factor Authentication Market by Vertical, 2019 - 2022, USD Million
TABLE 103 Spain Multi-Factor Authentication Market by Vertical, 2023 - 2030, USD Million
TABLE 104 Italy Multi-Factor Authentication Market, 2019 - 2022, USD Million
TABLE 105 Italy Multi-Factor Authentication Market, 2023 - 2030, USD Million
TABLE 106 Italy Multi-Factor Authentication Market by Component, 2019 - 2022, USD Million
TABLE 107 Italy Multi-Factor Authentication Market by Component, 2023 - 2030, USD Million
TABLE 108 Italy Multi-Factor Authentication Market by Authentication Type, 2019 - 2022, USD Million
TABLE 109 Italy Multi-Factor Authentication Market by Authentication Type, 2023 - 2030, USD Million
TABLE 110 Italy Multi-Factor Authentication Market by Model Type, 2019 - 2022, USD Million
TABLE 111 Italy Multi-Factor Authentication Market by Model Type, 2023 - 2030, USD Million
TABLE 112 Italy Multi-Factor Authentication Market by Vertical, 2019 - 2022, USD Million
TABLE 113 Italy Multi-Factor Authentication Market by Vertical, 2023 - 2030, USD Million
TABLE 114 Rest of Europe Multi-Factor Authentication Market, 2019 - 2022, USD Million
TABLE 115 Rest of Europe Multi-Factor Authentication Market, 2023 - 2030, USD Million
TABLE 116 Rest of Europe Multi-Factor Authentication Market by Component, 2019 - 2022, USD Million
TABLE 117 Rest of Europe Multi-Factor Authentication Market by Component, 2023 - 2030, USD Million
TABLE 118 Rest of Europe Multi-Factor Authentication Market by Authentication Type, 2019 - 2022, USD Million
TABLE 119 Rest of Europe Multi-Factor Authentication Market by Authentication Type, 2023 - 2030, USD Million
TABLE 120 Rest of Europe Multi-Factor Authentication Market by Model Type, 2019 - 2022, USD Million
TABLE 121 Rest of Europe Multi-Factor Authentication Market by Model Type, 2023 - 2030, USD Million
TABLE 122 Rest of Europe Multi-Factor Authentication Market by Vertical, 2019 - 2022, USD Million
TABLE 123 Rest of Europe Multi-Factor Authentication Market by Vertical, 2023 - 2030, USD Million
TABLE 124 Key Information – Microsoft Corporation
TABLE 125 Key Information – Thales Group S.A.
TABLE 126 Key Information – CyberArk Software Ltd.
TABLE 127 Key Information – Broadcom, Inc.
TABLE 128 Key Information – Micro Focus International PLC
TABLE 129 Key Information – HID Global Corporation
TABLE 130 Key Information – Cisco Systems, Inc.
TABLE 131 Key Information – Oracle Corporation
TABLE 132 Key Information – RSA Security LLC
TABLE 133 Key Information – Salesforce, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 Europe Multi-Factor Authentication Market, 2019 - 2030, USD Million
FIG 3 Key Factors Impacting multi-factor authentication market
FIG 4 KBV Cardinal Matrix
FIG 5 Market Share Analysis, 2022
FIG 6 Key Leading Strategies: Percentage Distribution (2019-2023)
FIG 7 Key Strategic Move: (Mergers & Acquisitions: 2019, Aug – 2023, Sep) Leading Players
FIG 8 Porter’s Five Forces Analysis - Multi-Factor Authentication Market
FIG 9 Europe Multi-Factor Authentication Market share by Component, 2022
FIG 10 Europe Multi-Factor Authentication Market share by Component, 2030
FIG 11 Europe Multi-Factor Authentication Market by Component, 2019 - 2030, USD Million
FIG 12 Europe Multi-Factor Authentication Market share by Authentication Type, 2022
FIG 13 Europe Multi-Factor Authentication Market share by Authentication Type, 2030
FIG 14 Europe Multi-Factor Authentication Market by Authentication Type, 2019 - 2030, USD Million
FIG 15 Europe Multi-Factor Authentication Market share by Model Type, 2022
FIG 16 Europe Multi-Factor Authentication Market share by Model Type, 2030
FIG 17 Europe Multi-Factor Authentication Market by Model Type, 2019 - 2030, USD Million
FIG 18 Europe Multi-Factor Authentication Market share by Vertical, 2022
FIG 19 Europe Multi-Factor Authentication Market share by Vertical, 2030
FIG 20 Europe Multi-Factor Authentication Market by Vertical, 2019 - 2030, USD Million
FIG 21 Europe Multi-Factor Authentication Market share by Country, 2022
FIG 22 Europe Multi-Factor Authentication Market share by Country, 2030
FIG 23 Europe Multi-Factor Authentication Market by Country, 2019 - 2030, USD Million
FIG 24 SWOT Analysis: Microsoft Corporation
FIG 25 Recent strategies and developments: Thales Group S.A.
FIG 26 SWOT Analysis: Thales Group S.A.
FIG 27 Recent strategies and developments: CYBERARK SOFTWARE LTD
FIG 28 SWOT Analysis: CyberArk Software Ltd.
FIG 29 SWOT Analysis: Broadcom, Inc.
FIG 30 SWOT Analysis: Micro Focus International PLC
FIG 31 SWOT Analysis: HID Global Corporation
FIG 32 Recent strategies and developments: Cisco Systems, Inc.
FIG 33 SWOT Analysis: Cisco Systems, Inc.
FIG 34 SWOT Analysis: Oracle Corporation
FIG 35 SWOT Analysis: RSA Security LLC
FIG 36 SWOT Analysis: Salesforce, Inc.