The North America Multi-Factor Authentication Market would witness market growth of 14.4% CAGR during the forecast period (2023-2030).
Multi-factor authentication (MFA) is an authentication procedure that requires users to provide two or more verification aspects to access a resource, such as an application, online account, or a VPN. It is the core of a strong identity and access management (IAM) policy. Two-factor authentication (2FA), sometimes called two-step verification or dual-factor authentication, is a security procedure in which users provide two different authentication factors to verify themselves. Regarding design, these solutions are non-intrusive and do not impact the rest of an organization's digital infrastructure and services. In addition, these solutions are available to organizations in the form of APIs that can be integrated seamlessly with the organization's login pages. This flexibility and feasibility of these solutions promise significant opportunities for future market growth.
Cyberattacks and data breaches have become increasingly sophisticated and prevalent, posing significant threats to individuals and organizations. In response to this growing concern, the market has emerged as a vital sector within the cybersecurity industry, offering solutions and services designed to enhance digital security through multiple layers of identity verification. As technology evolves, the multi-factor authentication market stands at the forefront of safeguarding digital identities, applications, and systems.
North America, particularly the United States, has various regulatory requirements and industry standards that mandate or recommend using MFA. Regulations like the Health Insurance Portability and Accountability Act (HIPAA), the PCI DSS, and state-level data breach notification laws necessitate strong authentication measures. There is a growing awareness in the region among users about the importance of online security. Individuals and organizations in North America are increasingly willing to adopt MFA as a proactive measure to protect their accounts and data. The aspects mentioned above will boost market growth in this region.
The US market dominated the North America Multi-Factor Authentication Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $10,307.3 million by 2030. The Canada market is experiencing a CAGR of 17% during (2023 - 2030). Additionally, The Mexico market would experience a CAGR of 16% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Multi-Factor Authentication Market is Predict to reach 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
- US
- Canada
- Mexico
- Rest of North America
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.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Multi-Factor Authentication Market, by Component
1.4.2 North America Multi-Factor Authentication Market, by Authentication Type
1.4.3 North America Multi-Factor Authentication Market, by Model Type
1.4.4 North America Multi-Factor Authentication Market, by Vertical
1.4.5 North America Multi-Factor Authentication Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
Chapter 4. Competition Analysis - Global
4.1 KBV Cardinal Matrix
4.2 Recent Industry Wide Strategic Developments
4.2.1 Partnerships, Collaborations and Agreements
4.2.2 Product Launches and Product Expansions
4.2.3 Acquisition and Mergers
4.3 Market Share Analysis, 2022
4.4 Top Winning Strategies
4.4.1 Key Leading Strategies: Percentage Distribution (2019-2023)
4.4.2 Key Strategic Move: (Mergers & Acquisitions: 2019, Aug – 2023, Sep) Leading Players
4.5 Porter’s Five Forces Analysis
Chapter 5. North America Multi-Factor Authentication Market by Component
5.1 North America Software Market by Country
5.2 North America Hardware Market by Country
5.3 North America Services Market by Country
Chapter 6. North America Multi-Factor Authentication Market by Authentication Type
6.1 North America Password-Based Authentication Market by Country
6.2 North America Passwordless Authentication Market by Country
Chapter 7. North America Multi-Factor Authentication Market by Model Type
7.1 North America Two-Factor Authentication Market by Country
7.2 North America Three-Factor Authentication Market by Country
7.3 North America Four-Factor Authentication Market by Country
7.4 North America Five-Factor Authentication Market by Country
Chapter 8. North America Multi-Factor Authentication Market by Vertical
8.1 North America BFSI Market by Country
8.2 North America Government Market by Country
8.3 North America Travel & Immigration Market by Country
8.4 North America Military & Defense Market by Country
8.5 North America Commercial Security Market by Country
8.6 North America IT Market by Country
8.7 North America Telecommunication Market by Country
8.8 North America Healthcare Market by Country
8.9 North America Media & Entertainment Market by Country
8.1 North America Others Market by Country
Chapter 9. North America Multi-Factor Authentication Market by Country
9.1 US Multi-Factor Authentication Market
9.1.1 US Multi-Factor Authentication Market by Component
9.1.2 US Multi-Factor Authentication Market by Authentication Type
9.1.3 US Multi-Factor Authentication Market by Model Type
9.1.4 US Multi-Factor Authentication Market by Vertical
9.2 Canada Multi-Factor Authentication Market
9.2.1 Canada Multi-Factor Authentication Market by Component
9.2.2 Canada Multi-Factor Authentication Market by Authentication Type
9.2.3 Canada Multi-Factor Authentication Market by Model Type
9.2.4 Canada Multi-Factor Authentication Market by Vertical
9.3 Mexico Multi-Factor Authentication Market
9.3.1 Mexico Multi-Factor Authentication Market by Component
9.3.2 Mexico Multi-Factor Authentication Market by Authentication Type
9.3.3 Mexico Multi-Factor Authentication Market by Model Type
9.3.4 Mexico Multi-Factor Authentication Market by Vertical
9.4 Rest of North America Multi-Factor Authentication Market
9.4.1 Rest of North America Multi-Factor Authentication Market by Component
9.4.2 Rest of North America Multi-Factor Authentication Market by Model Type
9.4.3 Rest of North America Multi-Factor Authentication Market by Authentication Type
9.4.4 Rest of North America Multi-Factor Authentication Market by Vertical
Chapter 10. Company Profiles
10.1 Microsoft Corporation
10.1.1 Company Overview
10.1.2 Financial Analysis
10.1.3 Segmental and Regional Analysis
10.1.4 Research & Development Expenses
10.1.5 Recent strategies and developments:
10.1.5.1 Partnerships, Collaborations, and Agreements:
10.1.5.2 Acquisition and Mergers:
10.1.6 SWOT Analysis
10.2 Thales Group S.A.
10.2.1 Company Overview
10.2.2 Financial Analysis
10.2.3 Segmental and Regional Analysis
10.2.4 Research & Development Expenses
10.2.5 Recent strategies and developments:
10.2.5.1 Product Launches and Product Expansions:
10.2.5.2 Acquisition and Mergers:
10.2.6 SWOT Analysis
10.3 CyberArk Software Ltd.
10.3.1 Company Overview
10.3.2 Financial Analysis
10.3.3 Regional Analysis
10.3.4 Research & Development Expenses
10.3.5 Recent strategies and developments:
10.3.5.1 Product Launches and Product Expansions:
10.3.5.2 Acquisition and Mergers:
10.3.6 SWOT Analysis
10.4 Broadcom, Inc.
10.4.1 Company Overview
10.4.2 Financial Analysis
10.4.3 Segmental and Regional Analysis
10.4.4 Research & Development Expense
10.4.5 SWOT Analysis
10.5 Micro Focus International PLC (Open Text Corporation)
10.5.1 Company Overview
10.5.2 Financial Analysis
10.5.3 Regional Analysis
10.5.4 Research & Development Expenses
10.5.5 SWOT Analysis
10.6 HID Global Corporation (Assa Abloy AB)
10.6.1 Company Overview
10.6.2 Financial Analysis
10.6.3 Segmental and Regional Analysis
10.6.4 Research & Development Expense
10.6.5 Recent strategies and developments:
10.6.5.1 Acquisition and Mergers:
10.6.6 SWOT Analysis
10.7 Cisco Systems, Inc.
10.7.1 Company Overview
10.7.2 Financial Analysis
10.7.3 Regional Analysis
10.7.4 Research & Development Expense
10.7.5 Recent strategies and developments:
10.7.5.1 Product Launches and Product Expansions:
10.7.5.2 Acquisition and Mergers:
10.7.6 SWOT Analysis
10.8 Oracle Corporation
10.8.1 Company Overview
10.8.2 Financial Analysis
10.8.3 Segmental and Regional Analysis
10.8.4 Research & Development Expense
10.8.5 Recent strategies and developments:
10.8.5.1 Partnerships, Collaborations, and Agreements:
10.8.6 SWOT Analysis
10.9 RSA Security LLC (Symphony Technology Group)
10.9.1 Company Overview
10.9.2 SWOT Analysis
10.10. Salesforce, Inc. (Tableau Software, LLC)
10.10.1 Company Overview
10.10.2 Financial Analysis
10.10.3 Regional Analysis
10.10.4 Research & Development Expense
10.10.5 Recent strategies and developments:
10.10.5.1 Acquisition and Mergers:
10.10.6 SWOT Analysis
TABLE 1 North America Multi-Factor Authentication Market, 2019 - 2022, USD Million
TABLE 2 North America 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 North America Multi-Factor Authentication Market by Component, 2019 - 2022, USD Million
TABLE 7 North America Multi-Factor Authentication Market by Component, 2023 - 2030, USD Million
TABLE 8 North America Software Market by Country, 2019 - 2022, USD Million
TABLE 9 North America Software Market by Country, 2023 - 2030, USD Million
TABLE 10 North America Hardware Market by Country, 2019 - 2022, USD Million
TABLE 11 North America Hardware Market by Country, 2023 - 2030, USD Million
TABLE 12 North America Services Market by Country, 2019 - 2022, USD Million
TABLE 13 North America Services Market by Country, 2023 - 2030, USD Million
TABLE 14 North America Multi-Factor Authentication Market by Authentication Type, 2019 - 2022, USD Million
TABLE 15 North America Multi-Factor Authentication Market by Authentication Type, 2023 - 2030, USD Million
TABLE 16 North America Password-Based Authentication Market by Country, 2019 - 2022, USD Million
TABLE 17 North America Password-Based Authentication Market by Country, 2023 - 2030, USD Million
TABLE 18 North America Passwordless Authentication Market by Country, 2019 - 2022, USD Million
TABLE 19 North America Passwordless Authentication Market by Country, 2023 - 2030, USD Million
TABLE 20 North America Multi-Factor Authentication Market by Model Type, 2019 - 2022, USD Million
TABLE 21 North America Multi-Factor Authentication Market by Model Type, 2023 - 2030, USD Million
TABLE 22 North America Two-Factor Authentication Market by Country, 2019 - 2022, USD Million
TABLE 23 North America Two-Factor Authentication Market by Country, 2023 - 2030, USD Million
TABLE 24 North America Three-Factor Authentication Market by Country, 2019 - 2022, USD Million
TABLE 25 North America Three-Factor Authentication Market by Country, 2023 - 2030, USD Million
TABLE 26 North America Four-Factor Authentication Market by Country, 2019 - 2022, USD Million
TABLE 27 North America Four-Factor Authentication Market by Country, 2023 - 2030, USD Million
TABLE 28 North America Five-Factor Authentication Market by Country, 2019 - 2022, USD Million
TABLE 29 North America Five-Factor Authentication Market by Country, 2023 - 2030, USD Million
TABLE 30 North America Multi-Factor Authentication Market by Vertical, 2019 - 2022, USD Million
TABLE 31 North America Multi-Factor Authentication Market by Vertical, 2023 - 2030, USD Million
TABLE 32 North America BFSI Market by Country, 2019 - 2022, USD Million
TABLE 33 North America BFSI Market by Country, 2023 - 2030, USD Million
TABLE 34 North America Government Market by Country, 2019 - 2022, USD Million
TABLE 35 North America Government Market by Country, 2023 - 2030, USD Million
TABLE 36 North America Travel & Immigration Market by Country, 2019 - 2022, USD Million
TABLE 37 North America Travel & Immigration Market by Country, 2023 - 2030, USD Million
TABLE 38 North America Military & Defense Market by Country, 2019 - 2022, USD Million
TABLE 39 North America Military & Defense Market by Country, 2023 - 2030, USD Million
TABLE 40 North America Commercial Security Market by Country, 2019 - 2022, USD Million
TABLE 41 North America Commercial Security Market by Country, 2023 - 2030, USD Million
TABLE 42 North America IT Market by Country, 2019 - 2022, USD Million
TABLE 43 North America IT Market by Country, 2023 - 2030, USD Million
TABLE 44 North America Telecommunication Market by Country, 2019 - 2022, USD Million
TABLE 45 North America Telecommunication Market by Country, 2023 - 2030, USD Million
TABLE 46 North America Healthcare Market by Country, 2019 - 2022, USD Million
TABLE 47 North America Healthcare Market by Country, 2023 - 2030, USD Million
TABLE 48 North America Media & Entertainment Market by Country, 2019 - 2022, USD Million
TABLE 49 North America Media & Entertainment Market by Country, 2023 - 2030, USD Million
TABLE 50 North America Others Market by Country, 2019 - 2022, USD Million
TABLE 51 North America Others Market by Country, 2023 - 2030, USD Million
TABLE 52 North America Multi-Factor Authentication Market by Country, 2019 - 2022, USD Million
TABLE 53 North America Multi-Factor Authentication Market by Country, 2023 - 2030, USD Million
TABLE 54 US Multi-Factor Authentication Market, 2019 - 2022, USD Million
TABLE 55 US Multi-Factor Authentication Market, 2023 - 2030, USD Million
TABLE 56 US Multi-Factor Authentication Market by Component, 2019 - 2022, USD Million
TABLE 57 US Multi-Factor Authentication Market by Component, 2023 - 2030, USD Million
TABLE 58 US Multi-Factor Authentication Market by Authentication Type, 2019 - 2022, USD Million
TABLE 59 US Multi-Factor Authentication Market by Authentication Type, 2023 - 2030, USD Million
TABLE 60 US Multi-Factor Authentication Market by Model Type, 2019 - 2022, USD Million
TABLE 61 US Multi-Factor Authentication Market by Model Type, 2023 - 2030, USD Million
TABLE 62 US Multi-Factor Authentication Market by Vertical, 2019 - 2022, USD Million
TABLE 63 US Multi-Factor Authentication Market by Vertical, 2023 - 2030, USD Million
TABLE 64 Canada Multi-Factor Authentication Market, 2019 - 2022, USD Million
TABLE 65 Canada Multi-Factor Authentication Market, 2023 - 2030, USD Million
TABLE 66 Canada Multi-Factor Authentication Market by Component, 2019 - 2022, USD Million
TABLE 67 Canada Multi-Factor Authentication Market by Component, 2023 - 2030, USD Million
TABLE 68 Canada Multi-Factor Authentication Market by Authentication Type, 2019 - 2022, USD Million
TABLE 69 Canada Multi-Factor Authentication Market by Authentication Type, 2023 - 2030, USD Million
TABLE 70 Canada Multi-Factor Authentication Market by Model Type, 2019 - 2022, USD Million
TABLE 71 Canada Multi-Factor Authentication Market by Model Type, 2023 - 2030, USD Million
TABLE 72 Canada Multi-Factor Authentication Market by Vertical, 2019 - 2022, USD Million
TABLE 73 Canada Multi-Factor Authentication Market by Vertical, 2023 - 2030, USD Million
TABLE 74 Mexico Multi-Factor Authentication Market, 2019 - 2022, USD Million
TABLE 75 Mexico Multi-Factor Authentication Market, 2023 - 2030, USD Million
TABLE 76 Mexico Multi-Factor Authentication Market by Component, 2019 - 2022, USD Million
TABLE 77 Mexico Multi-Factor Authentication Market by Component, 2023 - 2030, USD Million
TABLE 78 Mexico Multi-Factor Authentication Market by Authentication Type, 2019 - 2022, USD Million
TABLE 79 Mexico Multi-Factor Authentication Market by Authentication Type, 2023 - 2030, USD Million
TABLE 80 Mexico Multi-Factor Authentication Market by Model Type, 2019 - 2022, USD Million
TABLE 81 Mexico Multi-Factor Authentication Market by Model Type, 2023 - 2030, USD Million
TABLE 82 Mexico Multi-Factor Authentication Market by Vertical, 2019 - 2022, USD Million
TABLE 83 Mexico Multi-Factor Authentication Market by Vertical, 2023 - 2030, USD Million
TABLE 84 Rest of North America Multi-Factor Authentication Market, 2019 - 2022, USD Million
TABLE 85 Rest of North America Multi-Factor Authentication Market, 2023 - 2030, USD Million
TABLE 86 Rest of North America Multi-Factor Authentication Market by Component, 2019 - 2022, USD Million
TABLE 87 Rest of North America Multi-Factor Authentication Market by Component, 2023 - 2030, USD Million
TABLE 88 Rest of North America Multi-Factor Authentication Market by Model Type, 2019 - 2022, USD Million
TABLE 89 Rest of North America Multi-Factor Authentication Market by Model Type, 2023 - 2030, USD Million
TABLE 90 Rest of North America Multi-Factor Authentication Market by Authentication Type, 2019 - 2022, USD Million
TABLE 91 Rest of North America Multi-Factor Authentication Market by Authentication Type, 2023 - 2030, USD Million
TABLE 92 Rest of North America Multi-Factor Authentication Market by Vertical, 2019 - 2022, USD Million
TABLE 93 Rest of North America Multi-Factor Authentication Market by Vertical, 2023 - 2030, USD Million
TABLE 94 Key Information – Microsoft Corporation
TABLE 95 Key Information – Thales Group S.A.
TABLE 96 Key Information – CyberArk Software Ltd.
TABLE 97 Key Information – Broadcom, Inc.
TABLE 98 Key Information – Micro Focus International PLC
TABLE 99 Key Information – HID Global Corporation
TABLE 100 Key Information – Cisco Systems, Inc.
TABLE 101 Key Information – Oracle Corporation
TABLE 102 Key Information – RSA Security LLC
TABLE 103 Key Information – Salesforce, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 North America 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 North America Multi-Factor Authentication Market share by Component, 2022
FIG 10 North America Multi-Factor Authentication Market share by Component, 2030
FIG 11 North America Multi-Factor Authentication Market by Component, 2019 - 2030, USD Million
FIG 12 North America Multi-Factor Authentication Market share by Authentication Type, 2022
FIG 13 North America Multi-Factor Authentication Market share by Authentication Type, 2030
FIG 14 North America Multi-Factor Authentication Market by Authentication Type, 2019 - 2030, USD Million
FIG 15 North America Multi-Factor Authentication Market share by Model Type, 2022
FIG 16 North America Multi-Factor Authentication Market share by Model Type, 2030
FIG 17 North America Multi-Factor Authentication Market by Model Type, 2019 - 2030, USD Million
FIG 18 North America Multi-Factor Authentication Market share by Vertical, 2022
FIG 19 North America Multi-Factor Authentication Market share by Vertical, 2030
FIG 20 North America Multi-Factor Authentication Market by Vertical, 2019 - 2030, USD Million
FIG 21 North America Multi-Factor Authentication Market share by Country, 2022
FIG 22 North America Multi-Factor Authentication Market share by Country, 2030
FIG 23 North America 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.