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 cybersecurity landscape, offering a seamless and secure way for users to access their accounts without relying on traditional passwords. This innovative approach utilizes various authentication methods such as biometrics, tokenization, and cryptographic keys to verify users' identities, significantly reducing the risk of unauthorized access and data breaches. As organizations increasingly prioritize security and user experience, the passwordless authentication market is witnessing rapid growth and adoption across industries.
One of the key drivers fueling the growth of the passwordless authentication market is the rising number of cyber threats and data breaches. Traditional password-based authentication methods are inherently vulnerable to attacks such as phishing, brute force, and credential stuffing. Passwordless authentication addresses these vulnerabilities by eliminating the need for static passwords, thereby thwarting many common attack vectors. As a result, organizations are increasingly turning to passwordless solutions to bolster their security posture and protect sensitive data from unauthorized access..
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Covid 19 impact analysis:
The report studies the factors influencing the growth of the industry in the global market and offers accurate predictions about the growth pattern. The report pays special attention to the key elements of the market, such as drivers, restraints, opportunities, threats, risks, limitations, and other aspects. The report covers a comprehensive analysis of the competitive landscape with a detailed analysis of the company profiles, product portfolio, and business expansion strategies. The report is updated with the latest economic scenario and market scope with regard to the ongoing COVID-19 pandemic. The report covers growth prospects as well as current and futuristic revenue estimations in a post COVID scenario. The report also covers changing trends and market dynamics due to the pandemic and provides an accurate impact analysis of the crisis on the overall market.
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, and others.
Research objectives:
The latest research report serves as a perfect example of the precise analysis of the global Passwordless Authentication market. It includes the ToC, list of tables and figures, research methodology, geographic segmentation, competitive landscape, future developments, and technological innovation. Moreover, the report offers the latest coverage of the massive impact of the COVID-19 pandemic on the worldwide Passwordless Authentication industry. The globally-disrupting incidence has impacted nearly every aspect of this business domain. However, the latest study expounds on the present market scenario and forecasts the pandemic’s aftermath, with respect to this industry. Furthermore, the major aspects of the market have been discussed in the report, with expert opinions on the current status of the market.
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It has segmented the global Passwordless Authentication market
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
Regional Outlook:
The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Passwordless Authentication market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa
Key Objectives of the Global Passwordless Authentication Market Report:
- Extensive coverage of the analysis of the Passwordless Authenticationmarket
- Key insights into the regional spread of the industry in key geographies
- Radical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the market
- Comprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of the Passwordless Authenticationmarket
- Complete data about the key manufacturers and vendors in the Passwordless Authenticationmarket
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