Multi-Factor Authentication Market Size - Key Vendors, Drivers, Profits & Analysis, Forecast to 2023
Market Overview: The global multi-factor market accrued USD 4.85 Bn in 2016 and projected to grow to approximately USD 11.24 Bn by 2023, at 13% CAGR during the forecast period (2017-2023), asserts Market Research Future (MRFR). Multifactor authentication is implemented in different sectors such as banking and financial institutions, government institutions, travel & immigration, military & defense, commercial security, consumer electronics, and healthcare to fortify their defenses against external online threats. Increasing demand for online transaction and growing e-commerce sector is propelling the multi-factor authentication system. The banking and financial institution sector is presumed to have a huge market share due to various applications such as online payments, foreign exchange, bank guarantee, trade finance, banking cards personalization system, and other banking and financial services. Also, rise in national security concerns, increase in a number of cyber theft ca...