Security News > 2022 > January > MFA market to reach $21.3 billion by 2027
Amid the COVID-19 crisis, the global market for multi-factor authentication estimated at $8.6 billion in the year 2020, is projected to reach a revised size of $21.3 billion by 2027, growing at a CAGR of 13.9% over the analysis period 2020-2027, according to ResearchAndMarkets.
The U.S. MFA market is estimated at $2.3 billion.
The Multi-Factor Authentication market in the U.S. is estimated at $2.3 billion in the year 2020.
China, the world's second largest economy, is forecast to reach a projected market size of $4.8 billion by the year 2027 trailing a CAGR of 17.9% over the analysis period 2020 to 2027.
These regional markets accounting for a combined market size of $259.7 million in the year 2020 will reach a projected size of $664.9 million by the close of the analysis period.
Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach $3.2 billion by the year 2027, while Latin America will expand at a 17% CAGR through the analysis period.