Two-Factor Authentication Market Revenue to Surpass USD 44.05 Billion by 2030

Research Reports

May 30, 2022

Market Overview

Two-factor authentication is defined as a secure method that grants users access to applications and devices. Two factor has been popularized due to the increase in cases of online theft, and concerns safeguarding raised the demand for the Two-Factor Authentication Market.

The vast use of online transactions and the inclination to digital banking by the users are driving the Two-Factor Authentication Market at the global level. Most countries around the world have adopted online and digital banking; therefore, to secure data, 2F authentication played a major role. The rising development of e-commerce platforms and internet banking for instantly purchasing products is a key market driving factor. The regularized laws by various nations’ central banks for protecting online transactions can set huge opportunities for prominent players. The integration of two-factor authentication for payment procedures in sectors such as healthcare, retail, and BFSI to accelerate the share value of the two-factor authentication market.

Get Sample Copy: https://www.marketresearchfuture.com/sample_request/3772

The COVID-19 pandemic has propelled the requirement for remote work and from home culture worldwide. Therefore, this allowed the enterprises to understand the importance of 2F authentication, accessing the right personnel, and protecting digital assets. The increase in mobility services has driven the 2FA technology in various enterprises. Therefore, the market showed a positive impact during the pandemic period.

In the future years, the Two-Factor Authentication Market is estimated to reach a CAGR of 17.28% with a value of USD 8,984.7 Million by 2024 during the forecast period.

Market Segmentation

The Two-Factor Authentication Market is segmented based on type, model, technology, and end-users. The type segment consists of One-Time Password (OTP) and Public Key Infrastructure. The one-time passwords segment is projected to gain good share value in the global market due to its wide usage and rapid processing. The model segment of the market has Smart Card with Pin, One-Time Password with Pin, Biometric Technology with Pin, Smart Card with Biometric Technology, Others. Among these, the smart card with a pin to get more preference worldwide due to the rise of online shopping and the launch of new financial modes. The technology segment comprised Safenet OTP Authenticators, PKI Authenticators, Physical and Logical Access Control, Out-Of-Band Authenticators, Mobile PKI Office Suite, Others. The end-users section has Banking and Finance, Government, Military &Defense, Commercial Security, Travel & Immigration, Healthcare, Consumer Electronics, Aerospace, Others. BFSI section is the leading segment to estimate the largest two-factor authentication market share.

Browse More Information:

https://www.marketresearchfuture.com/reports/two-factor-authentication-market-3772

Regional Analysis

The regional report of the Two-Factor Authentication Market shows the growth of the market in regions such as Asia Pacific, North America, Europe, and the rest of the world. North America is the leading market region due to the rise of government mandates for protection for citizen interest and the rise in the spate of cyberattacks. The region’s growth of North America depends on the U.S. and Canada because of major financial organizations and prominent players. The region is forecasted to show a strong CAGR value in the review period.

Industry News

Quikteks Business Technology Solutions, a U.S. managed services provider, accelerates small and medium enterprises to implement two-factor authentication for preventing data breaches, safe transactions and to secure it from cyber-attacks.

About Us:

Market Research Future (MRFR) is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.

We at MRFR provide syndicated and customized reports to clients as per their liking. Our consulting services are aimed at eliminating business risks and driving the bottomline margins of our clients. The hands-on experience of analysts and capability of performing astute research through interviews, surveys, and polls are a statement of our prowess. We constantly monitor the market for any fluctuations and update our reports on a regular basis.

Media Contact:

Market Research Future (Part of Wantstats Research and Media Private Limited)

99 Hudson Street, 5Th Floor

New York, NY 10013

United States of America

+1 628 258 0071 (US)

+44 2035 002 764 (UK)

Email: [email protected]

Website: https://www.marketresearchfuture.com

Tags: Two-Factor Authentication Market, Two-Factor Authentication, Two-Factor Authentication Market Share, Two-Factor Authentication Market Growth, Two-Factor Authentication Market Size, Two-Factor Authentication Market trend See Campaign: https://www.marketresearchfuture.com/