Saudi Arabia Multi-Factor
Authentication market is expected to grow at a steady rate in the forecast
period. The rise in the number of cyber-attacks and the cases of data breaches
in organizations is the major driving factor for the growth of the multi-factor
authentication market. Organizations are investing huge amounts to ensure the
security of their confidential information and data which is fueling the growth
of the multi-factor authentication market. Increasing adoption of advanced
technology in organizations including the internet of things, cloud computing,
big data analytics, amongst others is creating the need to integrate
multi-factor authentication with the existing system thereby is expected to
accelerate the multi-factor authentication market growth. The growing adoption
of bring your own device and work from home facilities in enterprises is
contributing to a surge in the demand of the multi-factor authentication market
for the next five years. Ongoing research and development activities to develop
novel multi-factor authentication tools, services and solutions are influencing
the market growth. The major revenue-generating industry in Saudi Arabia is the
oil industry and to reduce the dependency on the oil industry and diversify the
income resources the leading authorities are boosting the growth of other
industries which in turn is expected to foster the multi-factor authentication
market growth.
The Saudi Arabia Multi-Factor
Authentication market is segmented into component, model type, authentication
type, organization size, end user, regional distribution, and company. Based on
the model type, the market can be divided into two, three, four, and
five-factor. The two-factor authentication segment is expected to witness
growth in the forecast period, 2022-2026. It enables the organizations to
digitally authenticate the user’s identity by using multiple parameters such as
possession-based factors, inherence-based factors, knowledge-based factors,
amongst others which aid in maintaining the security of the system.
The major players operating on the
Multi-Factor Authentication market are Microsoft
Corporation, OneSpan Inc., Okta, Inc., Micro Focus International plc, Thales
Group, RSA Security LLC, HID Global, Eset, LLC, ForgeRock, Inc., CyberArk
Software Ltd., OneLogin, Inc., SecureAuth Corporation, Oracle Corporation, salesforce.com,
Inc., Suprema HQ Inc, and others. Major companies are developing advanced
technologies and launching new services to stay competitive in the market.
Other competitive strategies include mergers & acquisitions and new service
developments.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2026
Objective of the
Study:
- To analyze and estimate the market size of Saudi
Arabia Multi-Factor Authentication market from 2016 to 2019.
- To estimate and forecast the market size of Saudi
Arabia Multi-Factor Authentication market from 2020 to 2026 and growth
rate until 2026.
- To classify and forecast Saudi Arabia Multi-Factor
Authentication market based on component, model type, authentication type,
organization size, end user, regional distribution, and company.
- To identify dominant region or segment in the Saudi
Arabia Multi-Factor Authentication market.
- To identify drivers and challenges for Saudi
Arabia Multi-Factor Authentication market.
- To examine competitive developments such as
expansions, new product launches, mergers & acquisitions, etc., in Saudi
Arabia Multi-Factor Authentication market.
- To identify and analyze the profile of leading
players operating in Saudi Arabia Multi-Factor Authentication market.
- To identify key sustainable strategies adopted
by market players in Saudi Arabia Multi-Factor Authentication market.
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TechSci Research performed both primary as well as
exhaustive secondary research for this study. Initially, TechSci Research
sourced a list of service providers across the globe. Subsequently, TechSci
Research conducted primary research surveys with the identified companies.
While interviewing, the respondents were also enquired about their competitors.
Through this technique, TechSci Research could include the service providers which
could not be identified due to the limitations of secondary research. TechSci
Research analyzed the service providers, distribution channels and presence of all
major players across the globe.
TechSci Research calculated the market size of Saudi Arabia Multi-Factor Authentication
market using a bottom-up approach, wherein data for various
end-user segments was recorded and forecast for the future years. TechSci
Research sourced these values from the industry experts and company
representatives and externally validated through analyzing historical data of
these product types and applications for getting an appropriate, overall market
size. Various secondary sources such as company websites, news articles, press
releases, company annual reports, investor presentations and financial reports
were also studied by TechSci Research.
Key Target Audience:
- Multi-Factor Authentication service
provider companies
- Market research and
consulting firms
- Government bodies such as
regulating authorities and policy makers
- Organizations, forums, and
alliances related to Multi-Factor Authentication market
The study is useful in providing answers
to several critical questions that are important for the industry stakeholders
such as service providers, suppliers and partners, end users, etc., besides
allowing them in strategizing investments and capitalizing on market
opportunities.
Report Scope:
In this report, Saudi Arabia Multi-Factor
Authentication market has been segmented into following categories, in
addition to the industry trends which have also been detailed below:
- Saudi Arabia Multi-Factor Authentication Market,
By Component:
- Hardware
- Solutions
- Services
- Saudi Arabia Multi-Factor Authentication Market,
By Model Type:
- Two
- Three
- Four
- Five-Factor
- Saudi Arabia Multi-Factor Authentication Market,
By Authentication Type:
- Password
- Without Password
- Saudi Arabia Multi-Factor Authentication Market,
By Organization Size:
- Small and Medium-Sized Enterprises
- Large Enterprises
- Saudi Arabia Multi-Factor Authentication Market,
By End User:
- BFSI
- Government
- IT & Telecommunication
- Healthcare
- Media & Entertainment
- Others
- Saudi Arabia Multi-Factor Authentication Market,
By Region:
- Western Region
- Northern & Central Region
- Eastern Region
- Southern Region
Competitive
Landscape
Company Profiles: Detailed analysis of the major
companies present in Saudi Arabia Multi-Factor Authentication market.
Available
Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and
profiling of additional market players (up to five).
Saudi Arabia Multi-Factor
Authentication market is an upcoming report to be released soon. If you wish an
early delivery of this report or want to confirm the date of release, please
contact us at [email protected]