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Global Cross-Border E-Commerce Market is Expected to Surge to a Value of $600 billion, Recording a CAGR of 18% by 2030.
FIDO Authentication Market
According to the research report published by Credible Markets, global FIDO authentication market is presently valued at USD 600 million and is anticipated to expand at a CAGR of 24% over 2022-2030.
Global FIDO authentication market- Overview
FIDO (First Identity Online) Alliance, is a non-profit organization launched with an aim to develop and promote efficient authentication standards. The organization is supported by global tech leaders such as Microsoft, Apple, and Facebook.
FIDO authentication enables the replacement of password-only logins with other forms of secure and fast login techniques. It offers a wide range of authentication technologies including voice and facial recognition, fingerprint and iris scanners, smart cards, USD security tokens, and trusted platform modules, among others.
Global FIDO authentication market- Growth Propellants and Challenges
The primary factors boosting the development of this market place are increasing cybercrime rates, surging IT security concerns driven by rise in data breaches, and prompt shift towards password-less authentication to eliminate cyber-attacks. Furthermore, technological advancements in IT & telecom industry and widespread adoption of smart devices such as tablets, smartphones, and wearables, are positively swaying the market dynamics.
Additionally, digital transformation across several sectors including finance, healthcare, defense, commerce, and retail is also fueling industry progression.
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Moreover, the outbreak of the COVID-19 pandemic created lucrative opportunities for FIDO authentication market to prosper. The strict safety protocols forced the masses to stay indoors and switch to virtual work mode. This in turn increased the adoption of FIDO authentication technologies to ensure digital safety across various sectors.
On the flip side, lack of awareness regarding the benefits of authentication technologies is likely to slow down the growth of this market sphere in the ensuing years.
Segmental analysis of global FIDO authentication market
By Solution
• FIDO Client SDK
• FIDO U2F Authentication Devices (security keys)
• FIDO Server SDK
• Technology Consulting
• FIDO Certification Services
• FIDO Authentication SDKs
• Integration & Deployment
• Support Services
The FIDO U2F authentication devices (security keys) segment is expected to register notable gains over 2022-2030 as this technology enables online services to enhance the security of their existing password infrastructure by adding another strong factor to user login.
By Application
• Payment Processing
• Document Signing
• PKI/Credential Management
• User Authentication
• Others
By Industry
• Healthcare & Life Sciences
• BFSI
• IT & Telecom
• Government & Defence
• Retail & CPG
• Energy & Utilities
• Others
The BFSI segment is anticipated to capture a substantial market share owing to the rising need for the adoption of reliable authentication technologies in telecom companies to prevent cyber-attacks.
North America to register notable gains over analysis timeline
North America, Asia Pacific, Europe, South America, and Middle East & Africa are the major regions considered to understand the present geographical trends of global FIDO authentication market. North America is poised to showcase lucrative expansion trends over 2022-2030 attributable to escalating demand for FIDO based solutions across verticals such as telecommunication, healthcare, banking, consumer goods and retail, among others.
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Competitive Hierarchy
The prominent players operating in the business sphere are Aware, Inc., Utimaco GmbH, RSA Security LLC, Huawei Device Co., Ltd, Movenda S.p.A, Thales Group, OneSpan, Cardcontact Systems GmbH, Futurex LP, Ultra Electronics Holdings, and HYPR Group.
Major Developments
• RSA Security LLC in June 2021 inked a collaboration deal with Janeiro Digital. This deal was intended at providing efficient security technologies to decentralized web applications
• Microsoft Corporation in March 2021 joined hands with Yubico with an aim to enhance the features of AccountGuard digital ID security
Key questions answered in this report
• What is the growth rate projection for FIDO authentication market over 2022-2030?
• What are the major expansion propellants of FIDO authentication market?
• Which is the fastest growing regions in FIDO authentication market?
• Which are the major players operating in FIDO authentication market?
Major takeaways from this report
• Global FIDO authentication market is poised to amplify at a CAGR of 24% over 2022-2030
• Surging cybercrime rates and technological transformation across various end-use industries are driving FIDO authentication market growth
• North America is projected to garner substantial revenues over the analysis period owing to high demand for reliable security technologies across various sectors in the region
Contact Us:
Credible Markets
Phone-+1(929)-450-2887
Email- sales@crediblemarkets.com
Web: https://www.crediblemarkets.com/
About Credible Markets
Credible Markets is one of the leading market research firms providing a 360-degree outlook of various industry dynamics to their clients. The reports and services offered by Credible Markets are used by prominent industry participants, including investors, manufacturers, stakeholders, and new entrants.
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