The Passwordless Authentication Market size was valued at USD 14.75 billion in 2022 and is expected to grow to USD 55.89 billion By 2030 and grow at a CAGR of 18.12 % over the forecast period of 2023-2030.
Passwordless authentication is revolutionizing the way individuals and organizations secure their digital assets, offering a seamless and secure alternative to traditional password-based systems. By eliminating the need for passwords, which are often weak, forgotten, or susceptible to hacking, passwordless authentication solutions enhance security while improving user experience. This market is witnessing rapid growth as businesses across various industries recognize the importance of bolstering their cybersecurity posture without sacrificing usability.
One key driver propelling the passwordless authentication market forward is the increasing sophistication of cyber threats. With hackers employing advanced techniques such as phishing, credential stuffing, and brute-force attacks, traditional password-based authentication methods are increasingly vulnerable. Passwordless authentication addresses these vulnerabilities by leveraging biometrics, multi-factor authentication (MFA), and cryptographic keys to verify user identities, making it significantly harder for malicious actors to compromise accounts.
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Covid 19 impact analysis:
The latest report is the most recent study that offers 360° coverage of the Passwordless Authentication industry that has been facing the brunt of the adverse economic impact of the COVID-19 outbreak since the beginning of this year. The global health crisis has affected nearly every aspect of the business vertical and led to massive disruptions to the global Passwordless Authentication market demand and supply chains. Researchers draw predictions for the market scenario in the post-COVID era. The report, additionally, assesses the present market situation and estimates its future outcomes, keeping in mind the impact of the pandemic on the global economic landscape.
Major companies profiled in the market report include
NEC Corporation, HID Global Corporation, Fujitsu, East Shore Technology, LLC, M2SYS Technology, Microsoft, Secret Double Octopus, Thales, Beyond Identity, Safran, DERMALOG Identification Systems GmbH, ASSA ABLOY, EmpowerID, OneLogin, IDEE,
Research objectives:
The latest research report has been formulated using industry-verified data. It provides a detailed understanding of the leading manufacturers and suppliers engaged in this market, their pricing analysis, product offerings, gross revenue, sales network & distribution channels, profit margins, and financial standing. The report’s insightful data is intended to enlighten the readers interested in this business sector about the lucrative growth opportunities in thePasswordless Authentication market.
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It has segmented the globalPasswordless Authentication market on the basis of technology, application, end-use, and region:
By Component
- Hardware
- Software
- Services
By Portability
- Fixed
- Mobile
By Product Type
- Fingerprint Authentication
- Palm Recognition
- Iris Recognition
- Face Recognition
- Voice Recognition
- Smart Card
- Others
By Authentication Type
- Single-factor Authentication
- Multi-factor Authentication
By End-user
- IT & Telecom
- Retail
- Transportation & Logistics
- Aerospace & Defence
- BFSI
- Healthcare
- Government
- Others
Key Objectives of the Global Passwordless Authentication Market Report:
- The report conducts a comparative assessment of the leading market players participating in the global Passwordless Authentication market.
- The report marks the notable developments that have recently taken place in the Passwordless Authentication industry
- It details on the strategic initiatives undertaken by the market competitors for business expansion.
- It closely examines the micro- and macro-economic growth indicators, as well as the essential elements of the Passwordless Authentication market value chain.
- The repot further jots down the major growth prospects for the emerging market players in the leading regions of the market
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