The size of the passwordless authentication market has grown unprecedentedly in recent times. It will grow from $17.13 billion in 2023 to $20.07 billion in 2024 at a compound annual growth rate (CAGR) of 17.2%. The ancient expansion can also be attributed to factors including increased cybersecurity alerts and data breaches, prevalent utility of cellular devices, regulatory compliance responsibilities, widespread adoption of cloud computing, and greater awareness of best practices in password control.
The passwordless authentication market size is expected to grow rapidly in the coming few years. At a compound annual growth rate (CAGR) of 17.5%, this will grow to $38.3 billion in 2028. The expected growth within the forecast period is expected to be driven through greater emphasis on consumer enjoyment and convenience, transition away from zero-trust security architectures, increasing demand for tougher authentication modes, prevalent integration of passwordless authentication, etc. , and increased the regulatory focus of attention on information coverage.
The key trends within the forecast period come with the adoption of multi-factor authentication (MFA) answers, implementation of behavioral biometrics, usefulness of continuous authentication applied sciences and improvements in leading authentication answers.
Growing concerns related to data security are keen to put pressure on the growth of the passwordless authentication market in the near future. Information security involves protecting virtual knowledge throughout its lifecycle to prevent unauthorized access, corruption or theft. Increased connectivity, increasing complexity of IT programs, and complex hacking strategies contribute to the growing fear for information security. Passwordless authentication addresses these concerns by replacing traditional password-based modes with additional protected authentication elements such as biometrics, hardware tokens, or cryptographic keys, thereby improving authentication and reducing the likelihood of unauthorized access to sensitive data. For example, as reported by the Federal Bureau of Investigation (FBI) in March 2024, cyber crime proceedings received by the FBI from the Family reached 880,418 in 2023, indicating a 10% increase from the prior era. Furthermore, according to Test Level Instrument Technologies Ltd., global cyber attacks witnessed a 38% increase in 2022 compared to 2021. Therefore, growing concerns about data security are driving the expansion of the passwordless authentication market.
Major avid gamers in the passwordless authentication market are offering leading answers to take advantage of the market options. One such answer is hidden location authentication services and products, which use a consumer’s physical location as a way to verify his or her identity, thus obviating the need for advanced passwords. For example, in April 2024, US-based cybersecurity company Heart Identification unveiled its patented Unrevealed Location Authentication, which enables customers to authenticate via a specified map location. This mode uses geolocation information to authenticate the presence of a consumer at a particular, pre-determined location, leverages synthetic understanding to ensure stringent security requirements and provides a very simple treatment mechanism. Unlike hardware-dependent solutions, hidden location authentication is cost-effective and eliminates the need for redundant devices, optimizing productivity hours, arming companies with rigorous security features, and simplifying access controls.
In January 2023, Bitwarden, a US-based open-source password control provider, purchased Passwordless.dev, a Sweden-based startup that specializes in passwordless authentication, for an undisclosed sum. The acquisition underscores Bitwarden’s continuation to improve its support for passwordless authentication, helping builders seamlessly integrate biometric sign-in technologies like Contact ID, Face ID, and Home Windows Hi into their systems. Is available.
The file includes market characteristics, dimensions and expansion, segmentation, regional and nation segmentation, offensive parks, market stocks, trends and technologies for this market. It shows the historical and forecasted market expansion of the market through geography.
record scope
Market Lined:
- Via Type: Fingerprint Authentication; Palm popularity; Iris popularity; facial popularity; expression popularity; simple card
- Via Asset: {Hardware}; Machine; Products and Services
- Via authentication type: single-factor authentication; multi-factor authentication
- Via portability: mounted; room
- Via finish-user: IT and telecom; retail; Transportation and Logistics; Aerospace and Security; BFSI; Health care; executive
International Location: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; spain
Area: Asia Pacific; Western Europe; Japanese Europe; North United States; South America; Middle East; Africa
Year order: 5-year historical and 10-year forecast.
Information: Market dimensions and the ratio of expansion of indivisible markets, ratio of GDP, per capita expenditure.
Information Partition: National and regional historical and forecast information, percentage of market competition, market segments.
Main characteristics:
| record component | main points |
| Disagree. of pages | 175 |
| forecast length | 2024 – 2028 |
| Estimated market value in 2024 (USD). | $20.07 billion |
| Estimated Marketplace Worth (USD) by 2028. | $38.3 billion |
| Compound Annual Value | 17.5% |
| lined area | international |
Corporation Profile:
- Microsoft
- IBM
- Fujitsu
- NEC
- Thales Workforce
- Okta Inc.
- HID International Company
- hand over company
- LogMein Inc.
- ping identity company
- Duo Safety LLC
- Signicat AS
- Ultimate Identity Inc.
- OneLogin Inc.
- Past Identity Inc.
- Stitch Inc.
- Trusona Inc.
- HYPR Corporation
- ubisecure banned
- Unreleased Double Octopus Ltd
- EmpowerID
- Veridium Limited
- steady
- Yubico AB
- log me once
For more information on this file consult https://www.researchhandmarkets.com/r/6oethe
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International Passwordless Authentication Market
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