Market Overview:
The global multi-factor authentication (MFA) smart cards market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The increasing demand for MFA smart cards for secure authentication across different applications is one of the major factors driving the growth of this market. The other key drivers include the rising incidence of cyber-attacks and data breaches, and the growing need for enhanced security measures among organizations worldwide. The contact type segment is expected to hold a dominant share in the global MFA smart cards market during the forecast period, owing to its high adoption rate among various end users such as finance, security, and other sectors. However, contactless type MFA smart cards are witnessing a higher growth rate than contact type MFA smart cards due to their ease of use and convenience offered to users.
 Smart Cards Industry Outlook.svg)
Product Definition:
Multi-factor authentication (MFA) is a security process that requires more than one type of authentication to verify the identity of an individual or system.
One common form of MFA is two-factor authentication, which requires two types of verification: something you know, such as a password, and something you have, such as a security token.
Multi-factor authentication using smart cards is considered to be more secure than other forms of MFA because it uses physical objects that are not easily compromised. Smart cards can be used for identification and verification purposes in many different settings, including government agencies, hospitals, and businesses.
Contact:
The global contactless smart card market is expected to witness significant growth over the forecast period. The major factor that propels the growth of this market includes increasing demand for secure authentication and identification solutions across various industry verticals such as BFSI, government, healthcare & life sciences, education & research sector among others.
Contactless:
Multi-factor authentication (MFA) smart cards are used for the purpose of enhancing security by providing additional layers of protection against fraud and counterfeiting. The card consists of a chip containing an integrated circuit, which helps in performing several operations such as self-containment and self-issueing. Additionally, these chips also support contactless technology that eliminates the need for physical presence at the time of transaction authentication.
Application Insights:
The other application segment covers MFA smart cards used in healthcare, BFSI, government and education sectors. The security application segment dominated the market in 2017 and is expected to continue its dominance over the forecast period. This can be attributed to increasing cyber-attacks globally that have resulted in increased awareness about multi-factor authentication techniques for online safety.
The use of MFA solutions has become mandatory for users when they sign into their online accounts from a new device or location as part of enhanced security measures implemented by organizations across all industry verticals. In addition, governments around the world are mandating its use due to rising cyberattacks and data breaches that have resulted in huge monetary losses worldwide.
Regional Analysis:
The market in Asia Pacific is expected to grow at a significant rate over the forecast period. The growth can be attributed to increasing government regulations for data security and the rising number of cyber-attacks across organizations in this region. For instance, China has implemented strict regulations regarding the use of multi-factor authentication solutions by banks and financial institutions as well as other organizations that hold important information about citizens. This factor is also likely to propel market growth over the next eight years in countries such as India, Japan, Australia, Singapore among others.
North America was valued at USD X billion in 2017 owing to high demand from enterprises for secure access control systems across various sectors such as banking & financial services (BFS), government & defense (GDS), telecom among others that require high levels of security for their network infrastructure.
Growth Factors:
- Increasing demand for MFA smart cards from the BFSI sector to meet the security needs of customers
- The increasing number of cyber-attacks and data breaches is driving the demand for MFA smart cards
- Growing awareness about the benefits of using MFA smart cards among businesses and consumers is fueling its growth
- The increasing use of mobile devices and cloud services is creating a need for enhanced security, which is boosting the adoption of MFA smart cards
- The growing trend of Bring Your Own Device (BYOD) is also contributing to the growth of this market
Scope Of The Report
Report Attributes
Report Details
Report Title
Multi-Factor Authentication (MFA) Smart Cards Market Research Report
By Type
Contact, Contactless
By Application
Finance, Security, Other
By Companies
Thales (Gemalto), HID Global Corporation (Crescendo), Giesecke & Devrient, FEITIAN Technologies Co., Ltd, Crescendo
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
121
Number of Tables & Figures
85
Customization Available
Yes, the report can be customized as per your need.
Global Multi-Factor Authentication (MFA) Smart Cards Market Report Segments:
The global Multi-Factor Authentication (MFA) Smart Cards market is segmented on the basis of:
Types
Contact, Contactless
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Finance, Security, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Thales (Gemalto)
- HID Global Corporation (Crescendo)
- Giesecke & Devrient
- FEITIAN Technologies Co., Ltd
- Crescendo
 Smart Cards Market Overview.svg)
Highlights of The Multi-Factor Authentication (MFA) Smart Cards Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Contact
- Contactless
- By Application:
- Finance
- Security
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Multi-Factor Authentication (MFA) Smart Cards Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
 Smart Cards Market Statistics.svg)
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Multi-factor authentication (MFA) is a security feature that uses more than one factor to verify the identity of a user. Common MFA methods include requiring users to enter a password as well as providing them with an additional piece of information, such as a code generated by their phone or computer.
Some of the major companies in the multi-factor authentication (mfa) smart cards market are Thales (Gemalto), HID Global Corporation (Crescendo), Giesecke & Devrient, FEITIAN Technologies Co., Ltd, Crescendo.
The multi-factor authentication (mfa) smart cards market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Multi-Factor Authentication (MFA) Smart Cards Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Multi-Factor Authentication (MFA) Smart Cards Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Multi-Factor Authentication (MFA) Smart Cards Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Multi-Factor Authentication (MFA) Smart Cards Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Multi-Factor Authentication (MFA) Smart Cards Market Size & Forecast, 2020-2028
4.5.1 Multi-Factor Authentication (MFA) Smart Cards Market Size and Y-o-Y Growth
4.5.2 Multi-Factor Authentication (MFA) Smart Cards Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Contact
5.2.2 Contactless
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Finance
6.2.2 Security
6.2.3 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Multi-Factor Authentication (MFA) Smart Cards Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Multi-Factor Authentication (MFA) Smart Cards Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Contact
9.6.2 Contactless
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Finance
9.10.2 Security
9.10.3 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Contact
10.6.2 Contactless
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Finance
10.10.2 Security
10.10.3 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Contact
11.6.2 Contactless
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Finance
11.10.2 Security
11.10.3 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Contact
12.6.2 Contactless
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Finance
12.10.2 Security
12.10.3 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Contact
13.6.2 Contactless
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Finance
13.10.2 Security
13.10.3 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Multi-Factor Authentication (MFA) Smart Cards Market: Competitive Dashboard
14.2 Global Multi-Factor Authentication (MFA) Smart Cards Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Thales (Gemalto)
14.3.2 HID Global Corporation (Crescendo)
14.3.3 Giesecke & Devrient
14.3.4 FEITIAN Technologies Co., Ltd
14.3.5 Crescendo
