Two-Factor Authentication Statistics By Age Group, Industry, Technology, Customers And Trends
Updated · Jan 13, 2025
WHAT WE HAVE ON THIS PAGE
- Introduction
- Editor’s Choice
- General Facts
- Top Authentication Priorities Worldwide
- Two-Factor Authentication By Age Group
- Use Two-Factor Authentication By Industry
- Two-Factor Authentication By Technology
- Two-factor Authentication Customers By Geography
- The Financial Impact Of Two-Factor Authentication
- Future Trends In Two-Factor Authentication
- Conclusion
Introduction
Two-Factor Authentication Statistics: Today, it is among the most prominent security layers provided for users to outweigh advanced cyber threats. It requires the users to confirm identification through two separate methods, allowing one more layer of protection against unauthorized access. In 2024, 2FA is expected to be increasingly embraced by organizations and individuals on a personal basis as they discover the importance of cybersecurity.
This article attempts to address some of the latest two-factor authentication statistics in terms of how much it is used and how effective it is, as well as the financial implications for businesses and users.
Editor’s Choice
- According to two-factor authentication statistics, With an objective to improve the rate of adoption of two-factor authentication (2FA), over 40% of developers worldwide took it as a priority in 2023.
- In addition to this, a third were concerned about the improvement of password security, while 2% did not make authentication one of their priorities.
- In May 2016, 52% of Internet users in the United States claimed to use 2FA to secure online accounts.
- Educational institutions top the list of 2FA users at 33%, followed by banking and finance (32%), telecom (31%), software (27%), and government (27%).
- RSA SecurID stands first in the 2FA software market, with a share of 42.89% in the year 2023.
- Two-factor authentication statistics state that The US leads the 2FA adoption with 47.13%, followed by the UK (13.54%) and the Netherlands (11.20%).
- Small enterprises tend to use 2FA for about 885 companies, ranging from 0-8 employees.
- The 2FA market was valued at US$22 billion in 2020 and will rise to US$25 billion by 2024, registering a CAGR of 14%.
- 2FA has a 32% reduction in phishing attacks and can give an ROI of 300% by preventing cybersecurity breaches and fraud.
- Biometric authentication is expected to represent about 32% of the two-factor authentication market by 2026.
- Two-factor authentication statistics reveal that the 2FA market is highly consolidated with the following giants: RSA SecurID at 33.82%, Yubico at 22.20%, Microsoft Azure MFA at 13.62%, Clef at 11.69% while Google Continue holds 5.60%.
- 2FA has 1,420 customers in the US, followed by the UK (266), Germany (124), Canada (118), India (101), Australia (97), and the Netherlands (89).
General Facts
- By 2024, 67% of companies across the globe will have implemented 2FA for their entire system, as opposed to 56% in the year 2022.
- Among individuals and netizens, it shows an increase of 10% from the year 2023; 52% of internet users enable 2FA in at least one of their accounts.
- Two-factor authentication statistics show that Among users, 41% prefer their 2FA to be in SMS, while 28% use authentication apps like Google Authenticator or Authy.
- Biometric 2FA, fingerprint, and facial recognition methods are on the increase. In 2024, 21% of users considered using it as part of their two-factor authentication, compared to a mere 12% in the year 2022.
- Accounts that are protected by 2FA are 99.9 times less prone to compromise than those that are only guarded by a password.
- As of the year 2024, 42% of cyberattacks were prevented by virtue of having 2FA, amounting to approximately US$14.7 billion in potential losses for companies.
- The average annual cost levied upon organizations to implement 2FA is US$15 per user, compared to the average US$3.86 million losses incurred from a data breach.
- More small businesses are likely to adopt cheaper 2FA solutions, with 58% already reporting lower premiums for cybersecurity insurance directly linked to their use.
- Two-factor authentication statistics reveal that Although useful, 33% of users cite inconvenience as their reason for not enabling 2FA.
- Among businesses, 19% face difficulty due to the cost of implementation, while 22% report employee resistance to the use of the 2FA system, citing perceived complexity as a barrier to use.
- North America leads in 2FA adoption, with 74% of all companies using it, followed by Europe at 68%.
- In its 62% national uptake, Asia-Pacific has become popular in adopting 2FA due to awareness building for cybersecurity and governmental regulation.
- Africa and South America follow in lack of resources and infrastructure, getting adoption rates of 48% and 50%, respectively.
Top Authentication Priorities Worldwide
(Reference: statista.com)
- According to two-factor authentication statistics conducted in the year 2023, more than 40% of developers worldwide considered boosting two-factor authentication adoption as their top priority for authentication.
- Along with this, a third of the respondents considered improving password security as their main focus.
- Compared to the others, about 2% of the participants said that authentication was not a priority to them.
Two-Factor Authentication By Age Group
(Reference: statista.com)
- A study conducted in May 2016 found that in the United States, 52% of netizens surveyed had reported making use of two-factor authentication (2FA) to secure their online accounts.
- Thus, approximately over half of the population surveyed embraced the security measure during that period.
- The data regarding two-factor authentication statistics also indicates the rapid growth of awareness and usage of authentication as a means of preventing personal and confidential information from compromising or being at risk of exposure online.
- In protecting identity over alternative verification methods, two-factor authentication also received a great deal of attention as a grounded solution against unauthorized entry and cyber threats.
Use Two-Factor Authentication By Industry
(Reference: enterpriseappstoday.com)
- Protection of sensitive information and digital assets is the most difficult hurdle to cross in today’s globally connected environment.
- Two-factor authentication (2FA) has emerged as a very effective way to strengthen online security. 2FA eliminates the risk of unauthorized access to a further extent by incorporating it into the password.
- Different people use 2FA depending on the field and the extent to which the users in that field require better security.
- Two-factor authentication statistics state that in the educational sector, 33% of the employees use 2FA, making it the sector with the leading rates of adoption.
- Next in line is banking and finance, with 32%, a clear reflection of this whole industry’s compelling need for the best protection of highly sensitive financial data and unauthorized access to the information. The telecom sector comes close behind with an adoption rate of 31%.
- This is exemplified by its concern with the protection of customer data and communication networks.
- The software and government sectors are also at a 27% adoption rate. That reflects the growing demand for secure development environments, and user accounts for the software industry while the government emphasizes protection of classified information and secure access to its systems.
- As of April 2023, RSA SecurID has an impressive 42.89% market share in two-factor authentication software, making it the market leader.
- In terms of adoption, the United States tops the list, using 47.13% of businesses to implement two-factor authentication software.
- The UK and the Netherlands rank second and third, respectively, with adoption rates of 13.54% and 11.20%.
- Globally, 885 companies with fewer than nine employees are using 2FA, compared to companies with 20-49 employees, which number just 511.
- According to two-factor authentication statistics by Cyber Security Breaches Study, only one in three organizations has mandated two-factor authentication.
- Two-factor authentication is very beneficial for retail, as it will verify people coming into networks over remote desktops or mobile devices accessing them.
Two-Factor Authentication By Technology
(Source: 6sense.com)
- In 2025, future technologies on Two-Factor Authentication (2FA) will bring various innovations that cater to the different levels of security needs.
- RSA SecurID continues to occupy the first position of market share, approximately 33.82 %, and has a strong customer base of 978 organizations.
- Second, Yubico has a 22.20% share of the market with 642 customers. Microsoft Azure Multi-Factor Authentication holds the third position with a 13.62% market share and 394 customers.
- Clef rounds out the top four, garnering 11.69% of the market and 338 customers.
- The final member to form the top five is Google Continue, which ends with a 5.60% share and provides service to 162 customers.
- The other methods account for 13.07% of the marketplace shared between 378 organizations.
- It highlights the face of competition that 2FA solutions entail, with many features focusing on the growing demand for secure authentication.
Two-factor Authentication Customers By Geography
(Reference: 6sense.com)
- Two-factor authentication statistics show that using two-factor authentication is pretty much varied across countries. For instance, in the United States, there are as many as 1,420 customers that make use of two-factor authentication tools, which alone makes it the largest market for this security technology.
- The next on the list is the United Kingdom, with 266 users. Some usage can also be seen in Germany at 124 consumers and Canada at 118 consumers.
- An emerging India has 101 customers using the technology, while in Australia, it reaches up to 97 businesses relying on two-factor authentication.
- With 89 customers using 2FA tools, the Netherlands makes the last spot on the list, which shows that it is a critical market in Europe as well.
- These figures indicate the acceptance of 2FA as widespread critical security all over the globe.
The Financial Impact Of Two-Factor Authentication
- The organization, which is then implementing two-factor authentication, can also provide much-needed financial assistance, as it not only provides security for organizations against cyber threats but also fits into a much larger general picture:
- Save businesses with 2FA from 32% of phishing attacks associated with incidents.
- Two-factor authentication statistics reveal that the global market for 2FA solutions is expected to boost to US$25 billion by the end of 2024 from a base of US$22 billion in 2020, clocking a compound annual growth rate (CAGR) of 14.0% during 2020-2024.
- The use of two-factor authentication saved a company 300% ROI on saving costs due to cybersecurity breach incidents and fraud, in addition to instilling greater trust in customers.
Future Trends In Two-Factor Authentication
- AI-based systems stretch out the convenience and adaptation of such systems to learn the behavior of individual users for security through adaptive authentication.
- As users desire seamlessness and security, by 2026, a study projected that 32% of the market would prefer some form of biometric authentication.
- Governments of the world are passing bills that will put that policy into mandatory dimensions in critical sectors, with 15 countries implementing one law in 2024.
Conclusion
Two-factor authentication is necessary in the battle against cybercrime. More and more people and organizations are taking it up and starting to use it for the protection of data and for the cost savings that are realized. It has proven again and again to be effective in preventing breaches, people learning of the benefits it will gain have put it on their agendas.
Even so, the adoption will increase further as technology continues to advance and awareness is raised. According to two-factor authentication statistics, all numbers will clearly show that it is indeed a sound investment in 2FA, both financially and security-wise.
FAQ.
Two-factor authentication is an identifying measure requiring one user to identify through two separate means, such as a password and a one-time code sent to their mobile phone. It would add another layer of security that makes accounts 99.9 times less likely to be compromised compared to only password protection.
Education institutions lead at 33% adoption, followed by banking and finance at 32%, telecom at 31%, and software and government sectors coming in at 27% each. These industries use these important certifications for the security of sensitive data as well as the prevention of unauthorised access.
The global 2FA market size is at US$22 billion in 2020, and its projected change will grow to US$25 billion by 2024, with a compound annual growth rate (CAGR) of 14%. The growth in the value regards the increasing importance of cybersecurity among industries.
The major challenges are inconvenience for the end user, as cited by 33% of users, the cost of implementation (19% of businesses), and employee resistance to using the system as complex (22%).
Future trends for 2FA will be rising biometric authentication, predicted to cover 32% of the market by 2026, then AI adaptive authentication systems. Also, countries across the globe are developing policies to enforce 2FA in critical sectors, with 15 countries expected to pass their respective laws by 2024.
Joseph D'Souza founded Sci-Tech Today as a personal passion project to share statistics, expert analysis, product reviews, and experiences with tech gadgets. Over time, it evolved into a full-scale tech blog specializing in core science and technology. Founded in 2004 by Joseph D’Souza, Sci-Tech Today has become a leading voice in the realms of science and technology. This platform is dedicated to delivering in-depth, well-researched statistics, facts, charts, and graphs that industry experts rigorously verify. The aim is to illuminate the complexities of technological innovations and scientific discoveries through clear and comprehensive information.
