2FA is a verification technique that uses two dissimilar factors. It is a combination of factors like a username and a password, an ATM card, or a biometric characteristic such as fingerprint.MFA is a security system that requires more than one type of authentication to

verify the user's identity for login and transaction purposes.Primary layer (something the user knows): Personal identification number (PIN),pattern, and/or password Secondary layer (something the user has): Smart card, ID card, software token,hardware token, and/or phone-based token Tertiary layer (something the user is): Biometric identifiers such as facial recognition, fingerprint identification, and/or retinal pattern.The global 2FA market is in its maturity stage. The introduction of cloud-based authentication solutions will drive the demand for 2FA among small and medium-sized businesses (SMBs) because their implementation does not require any infrastructure

and is cost-effective. Moreover, the surge in cyber attacks has compelled many sectors, such as government and healthcare, to adopt 2FA for enhanced security. This is expected to contribute to the market growth during the forecast period.

PART 01: Executive summary ............................................ 5

PART 02: Scope of the report .......................................... 16

PART 03: Research Methodology..................................... 21

PART 04: Introduction ....................................................... 24

Key market highlights 24

2FA 25

Comparison between 2FA and MFA 25

Advantages of 2FA 26

Regulations related to MFA 26

Types of authentication keys 27

PART 05: Economic overview .......................................... 30

PART 06: Market landscape .............................................. 31

Market overview 31

Market assumptions 32

Market size and forecast 34

PART 07: Market segmentation by end-user ................... 36

Global 2FA market by end-user 36

PART 08: Geographical segmentation ............................. 40

Global 2FA market by geography 40

Global 2FA market by geography (revenue) 41

PART 09: Buying criteria ................................................... 45

PART 10: Market drivers ................................................... 47

Increase in volume of online transactions 47

High level of security provided by hardware OTP

tokens 47

Adherence to compliance mandates 48

Impact of drivers 48

PART 11: Market Challenges ............................................ 49

Inconvenience of carrying hardware tokens and

vulnerability to threats 49

Lack of telecom infrastructure in developing countries 49

Rise in number of technical defects 50

PART 12: Impact of drivers and challenges .................... 51

PART 13: Market trends .................................................... 52

Introduction of OOB authentication 52

Emergence of cloud-based 2FA 53

Growing adoption of unified platforms for authentication

purposes 53

PART 14: Five forces analysis .......................................... 54

Five forces analysis 54

PART 15: Vendor landscape ............................................. 55

Competitive scenario 55

Top-vendor offerings 56

Vendor matrix 57

Vendor rating 61

Vendor highlights 62

M&A 63

Description of major vendors 63

Other prominent vendors 67

PART 16: Appendix ........................................................... 70

List of abbreviations 70

PART 17: Explore Technavio ............................................ 71