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The Global Multi-Factor Authentication Market was valued at USD 12.5 billion by 2022 and is estimated to reach USD 49.7 billion by 2032, registering a CAGR of 15.2%. Multi-factor authentication (MFA) is an authentication method that provides users with two or more verification factors to log in to a specific resource. The market is driven by the growth of the healthcare, IT & telecommunication, and media & entertainment industries, as well as the increasing adoption of IoT, cloud-based MFA, and blockchain services. Factors affecting the growth of the multi-factor authentication market include increased cyber-attacks and security issues, the need to meet regulatory requirements, and consumer inclination towards online payment.