Next in the Arms Race Against CyberCriminals

MultiFactor Authentication (MFA) is an emerging category of identity access management that involves the use of multiple methods of authentication to verify a user’s identity. Authentication of user identity ensures secure online transactions, log on to online services, and access to corporate resources. Multifactor authentication comes with different models such as two factor authentication, three factor authentication, four factor authentication, and five factor authentication. MFA model using two factors is gaining popularity in the market; occupying almost 90.88 percent of its share as of 2017, followed by three, four, and five factor authentication respectively. Additionally, the multi factor authentication market is expected to register a CAGR of 15.2 percent over the forecast period of 2019-2024.

10 Most Promising Multifactor Authentication Solution Providers - 2019

Multifactor Authentication (MFA) is an emerging category of identity access management that involves the use of multiple methods of authentication to verify a user’s identity. Authentication of user identity ensures secure online transactions, log on to online services, and access to corporate resources. Multifactor authentication comes with different models such as two factor authentication, three factor authentication, four factor authentication, and five factor authentication. MFA model using two factors is gaining popularity in the market; occupying almost 90.88 percent of its share as of 2017, followed by three, four, and five factor authentication respectively. Additionally, the multifactor authentication market is expected to register a CAGR of 15.2 percent over the forecast period of 2019-2024. Nowadays, MFA is popular due to the high degree of security and it is much better than a single username and password combination. Multifactor authentication helps to reduce the incidences of online identity theft and online fraud, as now, the victim's password is not the only authentication factor that can prevent fraudulent activities. According to global MultiFactor Authentication market is valued at 6230 million USD in 2018 and is expected to reach 16800 million USD by the end of 2024, growing at a CAGR of 18.0 percent between 2019 and 2024. Hence, various institutes are implementing multifactor authentication systems. Likewise, with the rising frequency of authentication based cyberattacks, several governments across the world also have started implementing policies mainly focusing to drive the adoption of multifactor Authentication. Multifactor authentication applied by governments was valued at USD 1.05 billion in 2018 and is anticipated to grow at a CAGR of almost 23.0 percent over the forecast period. Thus, Multifactor Authentication is used by organizations to implement an additional layer of security that requires users to authenticate via knowledge, possession, and inherence factors to gain access to corporate and social networks. Therefore, we present to you a list of 10 Most Promising Multifactor Authentication Solution Providers - 2019. Being closely scrutinized by a distinct panel of judges including CEOs, CIOs, CXOs, analysts and CIO Insider editorial board, we believe that these vendors will help users to implement MFA in their organization to prevent their devices from unauthorized access, networks, and leak of sensitive information.