Multi-Factor Authentication (MFA) Statistics 2023
– Everything You Need to Know

Multi-Factor Authentication (Mfa) Statistics 2023: Facts about Multi-Factor Authentication (Mfa) are important because they give you more context about what’s going on in the World in terms of Multi-Factor Authentication (Mfa).

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Top Multi-Factor Authentication (Mfa) Statistics 2023

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Multi-Factor Authentication (Mfa) “Latest” Statistics

  • The banking industry has barely acknowledged adopting hardware tokens among other sectors, and the utilization is only at 4%.[1]
  • A  test from 2017 indicates that 65% of consumers are becoming more adept at recognizing bogus emails from real ones.[1]
  • 17% of receivers click on the phishing link buried in the message body, whereas only 1 in 3 recipients read the email.[1]
  • Mobile push notifications are the most popular authentication technique, being used by 68% of users.[1]
  • According to a recent TeleSign research, 54% of users use 5 or fewer passwords for all of their online accounts.[2]
  • Grand View Research predicts that the multifactor authentication industry would grow to $17.76 billion by 2025, spurred by developments in biometric technology and cloud computing among other things.[2]
  • 3.8 million data were compromised by insider events in 2019, according to the Protenus Breach Barometer.[2]
  • 65% of infosec professionals have encountered compromised accounts, up from only 38% in 2017.[2]
  • According to data from Proofpoint, the main objective of 70% of the sophisticated attacks in 2018 was to get user credentials.[2]
  • In 2019, one successful phishing attempt that compromised credentials affected 55% of U.S. firms.[2]
  • Another piece of good news is that the use of Two-Factor Authentication (2FA) and Multi-Factor Authentication (MFA) has climbed by 7% since last year’s poll.[3]
  • In a poll regarding the use of 2FA, 86% said they utilized sms or email for 2FA, 39% used a phone call, and 52% used an authenticator app.[4]
  • 80% of hacking-related breaches were caused by weak or stolen passwords, according to the 2017 Verizon Data Breach Report.[4]
  • 73% of internet accounts use the same passwords twice.[4]
  • According to statistics published by the US national security cyber chief, the implementation of multifactor authentication might stop up to 80–90% of cyber attacks.[4]
  • MFA was used by 62% of enterprise companies compared to just 38% of small and medium.[4]
  • According to research, using MFA reduces the risk of account breach by more than 99.9%.[4]
  • Despite the slow pace of adoption, Twitter reported a rise of 9.1% in users who used 2FA to protect their accounts against account hijacking attempts between July and December 2020.[4]
  • MFA was utilized by 57% of workers at enterprises globally, up from 12% of all employees worldwide in 2018.[4]
  • Multi-factor authentication, according to Microsoft, prevents 99.9% of automated assaults on its platforms’ websites and other online services.[4]
  • Microsoft is not the first company to claim that employing MFA prevents 99.9% of automated account takeover threats.[4]
  • According to Google, adding a recovery phone number to your Google Account may stop up to 100% of automated bots, 66% of targeted attacks, and 99% of bulk phishing assaults.[4]
  • According to the most recent Microsoft statistics, MFA was not used by 99.9% of hacked accounts.[4]
  • Just 11% of companies worldwide utilize MFA.[4]
  • In a 2017 poll, 28% of participants utilized 2FA and 54% of them started using it freely rather than as a requirement for a job.[4]
  • Only 2.3% of all active accounts have at least one kind of two-factor authentication activated between July and December 2020, according to Twitter’s most recent transparency report.[4]
  • In 2021, 95% of firms that used 2FA also used software-based solutions, including mobile apps.[5]
  • Facebook 2FA is currently activated on more than 15 million accounts, according to TechCrunch.[5]
  • According to a Duo Labs survey, users who are working embrace the security of 2FA at a rate of 79% compared to those who are jobless at a rate of 60%.[5]
  • According to Duo Labs, financial services would be the most concerned sector if it were hacked, and this is supported by 93% of respondents.[5]
  • Businesses in the technology and software sector were the most proactive in 2021, according to research from LastPass, with 39% of respondents saying they were already implementing MFA.[5]
  • The worldwide adoption rate of enterprises employing MFA increased by 12 percentage points from the prior year in 2020, according to LastPass, bringing it to 57%.[5]
  • In contrast to the 4% of workers who claimed to utilize biometrics like fingerprint or face recognition, just 1% of respondents stated they employed hardware-based authentication, such as a physical token.[5]
  • According to the Twitter survey, 77% of users who use two-factor authentication use SMS, followed by 30.1% who use authenticator apps, and just 5% who use security keys.[5]
  • According to Verizon’s 2019 data breach investigations report, weak or hacked passwords are to blame for 80% of hacking.[6]
  • According to a 2021 Verizon data breach investigations report, improper credentials were used in 61% of incidents in 2020.[7]

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