Market Share of Multi-factor Authentication Industry
The multi-factor authentication market is fragmented due to the presence of both global players and small and medium-sized enterprises. Some of the major players in the market are Yubico AB, Giesecke+Devrient GmbH, Thetis, GoTrustid Inc., and Thales. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain sustainable competitive advantage.
•In February 2024, Giesecke+Devrient expanded its digital portfolio in the financial platforms business by increasing its stake in the software company Netcetera to broaden its product portfolio in the areas of digital payment and digital banking, which would create an opportunity for the company to offer MFA-based solutions to the financial industries in the market, which would support the growth of the company’s market presence in the future.
•In November 2023 - Okta Inc. partnered with Trio, a Mobile Device Management (MDM) solution, enabling Trio to provide a comprehensive solution for managing and securing devices in workplaces of any size, which would fuel the growth of the company's market presence in the MFA market supported by the company's strategic focus on developing solutions in the identity access management solutions in the market.
Multi-factor Authentication Market Leaders
Yubico AB
Giesecke+Devrient GmbH
Thetis
GoTrustid Inc.
Thales
*Disclaimer: Major Players sorted in no particular order
