Top Players in the Multi-Factor Authentication Market

The global multi-factor authentication market reached a value of US$ 18.1 Billion in 2023. Multi-factor authentication (MFA) uses an additional layer of security to verify the identity of the user and offer secure transactions over the internet. It protects businesses and organizations from potential security breaches through a multi-layered verification process. It includes multiple safety validation variables such as login credentials, security tokens, one-time password (OTP), biometric verification, which aims to create an elaborate defense system against unauthorized access.  

As per the analysis by IMARC Group, the top multi-factor authentication companies are offering cloud-integrated MFA solutions that allow remote fingerprint scanning, facial recognition, and document verification. Besides this, they are also making advancements in biometrics, software and hardware technologies, which is escalating the demand for multi-factor authentication.  In addition, several leading companies have been investing in implementing MFA to support services, training, SMS gateway, and hardware and software tokens. Along with this, investments in cloud technology and the adoption of bring-your-own-devices (BYOD) trends across enterprises are also escalating the demand for MFA solutions. Furthermore, the introduction of authentication-as-a-service solutions offering advanced security and authentication to organizations is also fueling the market growth. On account of these factors, the market value is expected to reach US$ 65.9 Billion by 2032, exhibiting a CAGR of 15% during 2024-2032.

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List of Top Multi-Factor Authentication Companies Worldwide:

The global Multi-Factor Authentication market has several major players, including CA Technologies, Crossmatch, Deepnet Security Ltd., Entrust Datacard Corporation, Fujitsu, Gemalto NV, Microsoft Corporation, NEC Corporation of America, Okta, Ping Identity, RSA Security, SecureAuth, SecurEnvoy Limited (Shearwater Group plc Company), Suprema Inc.More information about these companies has been provided below.

1. CA Technologies (Broadcom Company)

CA Technologies is now a Broadcom company that specializes in Agile Development, API Management, Infrastructure Management, Security-as-a-Services, Service Assurance, and Service Management. The company is a global technology leader that designs, develops, and supplies a broad range of infrastructure software solutions. It serves critical markets such as data centers, networking, software, broadband, wireless, storage and industrial sectors.

2. Crossmatch

Crossmatch is a leading biometric and authentication solution company. It also goes beyond multi-factor authentication with DigitalPersona software. It is expanding to risk-based factors, securing every application, offering frictionless access, and deploying quickly. The company also offers government biometric solutions, which provides enhanced security with industry leading biometric solutions.

3. Deepnet Security Limited

Deepnet Security Limited is a leading vendor in multi-factor authentication (MFA), single sign-on (SSO), and identity and access management (IAM). It provides on-premises, enterprise grade 2-factor authentication (2FA) or multi-factor authentication (MFA) products and a wide range of authentication methods. Its award-winning product, the DualShield, is a multi-factor authentication system that unifies a variety of authentication methods, protocols, solutions, and user experiences in a single platform.

4. Entrust Corporation

Entrust Corporation aims to provide a strong foundation for secure access, communications and data that starts with trusted identities and protects the enterprise, customers and partners while keeping friction to a minimum. It offers a unified platform for all factors that enable existing and future cases for all users, including employees, partners, contractors, and customers. Moreover, Entrust Identity is the unrivaled identity and access management (IAM) platform that aids businesses ahead of ever-changing security threats.

5. Fujitsu Group

Fujitsu Ltd. is a Japan-based multinational information and communications technology equipment and services corporation. The company’s purpose is to make the world more sustainable by building trust in society through innovation. It enhances the ability to stay in tune with global society while continuing to make agile changes and creating values. The company offers a broad range of products, services and solutions, and have approximately 130,000 employees supporting customers in 180 countries.

6. Gemalto NV (Thales Digital)

Gemalto was acquired by Thales in April 2019. It offers identity management and data protection technologies that help banks exchange funds and people across borders. Moreover, more than 30,000 organizations rely on the company to verify the identities of people and things, grant access to digital services, analyze vast quantities of information and encrypt data.

7. Microsoft Corporation

Microsoft Corporation is an American multinational technology corporation that produces computer software, consumer electronics, personal computers, consumer electronics, and related services. Its portfolio includes productivity and business processes, intelligent cloud, and a more personal company. It offers operating systems, cross-device productivity applications, server applications, business solution applications, desktop and server management tools, software development tools, and video games.

8. NEC Corporation

NEC Corporation is a multinational information technology and electronics corporation. It offers a wide variety of IT and network solutions, including cloud computing, artificial intelligence (AI), the Internet of Things (IoT) platform, and telecommunications equipment and software. Its primary segments are public, enterprise, network services, system platform, global and others.

9. Okta, Inc.

Okta visualizes a world where everyone can safely use any technology. It is a publicly-traded identity and access management company that provides an identity management platform for enterprises, small- and medium-sized businesses (SMEs), universities, and government agencies worldwide. The services also include adaptive multi-factor authentication, lifecycle management, API access management, and advanced server access.

10. Ping Identity

PingID is an American software company that offers cloud-based, multi-factor authentication solution services. It drastically improves the security posture in high-risk scenarios and streamlines for low-risk users and applications. It also protects applications accessed via single sign-on (SSO), and it integrates seamlessly with Microsoft Azure AD, Active Directory Federation Services (AD FS) and Windows login, Mac login, and SSH applications.

11. RSA Security LLC

RSA Security LLC helps manage digital risks with a range of capabilities and expertise, including integrated risk management, threat detection and response, identity and access management, and fraud prevention. It also helps address critical risks that organizations across sectors are encountering as they weave digital technologies deeper into their businesses. The solutions detect and respond to advanced attacks, manage user access control, and reduce business risk, fraud and cybercrime.

12. SecureAuth Corporation

SecureAuth Corporation aids in delivering the most secure and flexible authentication experience for workforce and customer identities to organizations around the world. It safeguards the workforce and customer online identities of the world’s leading brands. SecureAuth’s products and services are developed around the core principle of our mission without compromising on security.

13. SecurEnvoy Limited

The services provided by SecurEnvoy Limited allow various organizations to provide verifiable trust in every activity they perform. For almost 20 years, the company has been a leader in designing innovative security solutions that utilize mobile and cutting-edge identity technologies. It secures access to critical data and infrastructure, as well as provides peace of mind that the most sensitive information the user cares about is protected.

14. Suprema Inc.

Suprema Inc. is a leading global provider of access control, time and attendance and biometrics solutions. By combining world renowned biometric algorithms with superior engineering, Suprema has introduced innovations to the security industry over the last decades. The company’s extensive range of portfolio includes biometric access control systems, time and attendance solutions, fingerprint live scanners, mobile security authentication solutions and embedded fingerprint modules.

15. Symantec Corporation

Symantec Corporation, now known as NortonLifeLock Inc., is a leading software company that develops enterprise security products and cloud-based authentication solutions. It offers integrated cyber defense, threat and information protection, endpoint, email security, and web and application security products. The company primarily serves the automotive, education, industrial control systems, healthcare, financial, and retail industries.

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