5 trends shaking up multi-factor authentication

Universal adoption of multi-factor authentication (MFA) is hindered by technical limitations and user resistance, but its use is growing. Here's why.

Analysts predict that the multi-factor authentication (MFA) market will continue to grow, fed by the demand for more secure digital payments and rising threats, phishing attacks and massive breaches of large collections of passwords. Adroit Market Research predicts the overall MFA market will reach $20 billion by 2025, while another analyst predicts 18% annual revenue growth between now and 2024. This growth is also motivating MFA vendors to add new factor methods and make their products easier to integrate with custom corporate and public SaaS applications.

That is the good news.

The bad news is twofold. First, there is a growing rift in trust among users, caused by the abuses of private data by Facebook and others. Facebook has poisoned the well of trust for any IT vendor and engendered a higher level of paranoia among users when it comes to their online security and privacy. You would think that would encourage more adoption of MFA, and there is some uptake, but this trust deficit has also raised the bar for more usable MFA tools, with the result being MFA adoption is still far from universal.

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