2023 MFA market size at $18.1B, expected to reach $65.9B by 2032 with a 15% CAGR, driven by cyber threats and compliance.

Multi-Factor Authentication (MFA) market size reached $18.1 billion in 2023 and is expected to reach $65.9 billion by 2032, growing at a 15% CAGR. The HID 2024 State of Security Industry Report highlights mobile identity and MFA as top trends, along with biometrics and AI, shaping the physical access control market. Key factors driving the growth of MFA include increasing cyber threats and regulatory compliance requirements.

March 21, 2024
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