Transparency Market Research observes that the competitive landscape in the global multifactor authentication market is highly fragmented due to presence of several players. The report anticipates that mergers and acquisitions will remain important to established players in order to gain entry into the untapped markets. For instance, in November 2017, Gemalto formed a partnership with Computer Gross to expand its geographical servings for security and authentication based products. Innovation and introduction of technically-sound products are expected to be the two most important strategies of the global market in the near future. The competition is expected to get tougher as the players focus on extension of services to the end users. The report identifies Gemalto, Entrust, EMC, and Vasco as the key players in the global multifactor authentication market.
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According to the research report, the global multifactor authentication market is was valued at US$4,829.2 mn in 2016 and is expected to be worth US$20,444.9 mn by the end of 2025. During the forecast years of 2017 and 2025, the global market is expected to surge at a CAGR of 17.7%. In terms of models, the two-factor authentication model is expected to show tremendous progress as it’s a mere two-step verification process. Geographically, North America is expected to lead the global market as the region promises high adoption of multifactor authentication models amidst rising security concerns.
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