Press release
The Global Passwordless Authentication Market, valued at USD 6.5 billion in 2022, is projected to reach USD 23 billion by 2029, growing at a CAGR of 26.3% during the forecast period (2023-2029).
Passwordless Authentication Market
The Passwordless Authentication Market report provides a comprehensive analysis of the market, including its scope and research methodology. The report offers valuable insights into the key drivers and restraints influencing the market, as well as regional insights.
The scope of the report encompasses an in-depth examination of the Passwordless Authentication Market, covering various segments such as components, types, authentication types, end-users, and portability. The report provides a detailed analysis of each segment, including their market size, growth potential, and business forecast for new market entrants.
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To gather the necessary data for the report, a combination of primary and secondary research methodologies was employed. The primary research involved conducting interviews and surveys with industry experts, key stakeholders, and market participants to validate the findings from the secondary research. The secondary research included collecting data from reliable sources such as industry journals, white papers, company websites, and financial reports.
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What are Passwordless Authentication Market Dynamics:
The Passwordless Authentication Market is driven by several key dynamics that are shaping its growth and adoption. One of the primary factors driving the market is the increasing demand for enhanced user experience, particularly in sectors like banking. Passwordless authentication methods, such as biometric authentication using fingerprint sensors or facial recognition, offer a seamless and secure authentication experience, reducing login friction and improving user satisfaction.
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The market is also propelled by the growing need for stronger security measures and the rising awareness of the vulnerabilities associated with traditional password-based authentication. Weak passwords and password reuse are major contributors to cyber-attacks, and organizations are increasingly adopting passwordless authentication to mitigate these risks. The banking sector, in particular, is implementing passwordless authentication to protect customers' accounts and reduce the likelihood of data breaches.
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Passwordless Authentication Market Market Regional Insights:
North America has been a key region for the passwordless authentication market. The region has a strong technology infrastructure and a high adoption rate of advanced authentication solutions. The presence of major technology companies and the growing emphasis on data security and privacy are driving the market growth in this region.
Europe has been proactive in adopting passwordless authentication methods, driven by the implementation of the General Data Protection Regulation (GDPR) and the European Union's eIDAS (electronic identification, authentication, and trust services) regulation. The region has witnessed significant advancements in the adoption of passwordless authentication, particularly in sectors like banking, finance, and government.
What is Passwordless Authentication Market Segmentation:
by Component
• Hardware
• Software
• Services
by Type
• Fingerprint Authentication
• Palm Recognition
• Iris Recognition
• Face Recognition
• Voice Recognition
• Smart Card
by Authentication Type
• Single-factor Authentication
• Multi-factor Authentication
by End-user
• IT & Telecom
• Retail
• Transportation & Logistics
• Aerospace & Defense
• BFSI
• Healthcare
• Government
by Portability
• Fixed
• Mobile
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Who are Passwordless Authentication Market Key Players:
• Fujitsu
• NEC Corporation
• M2SYS Technology
• Microsoft
• HID Global Corporation
• Okta
• HID Global
• Duo Security
• Cisco
• IBM
• Log Me Once
• Trusona
• PureID
• Keyless
• Identite
• 1 Kosmos
• Ubisecure
• Signicat
• Stytch
• Hypr
• Secret Double Octopus
Table of content for the Passwordless Authentication Market includes:
1. Global Passwordless Authentication Market: Research Methodology
1. Global Passwordless Authentication Market: Executive Summary
• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry
3. Global Passwordless Authentication Market: Competitive Analysis
• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact
4. Global Passwordless Authentication Market Market Segmentation
• Global Market, by Component (2022-2029)
• Global Market, by Type (2022-2029)
• Global Market, by Authentication Type (2022-2029)
• Global Market, by End-user (2022-2029)
• Global Market, by Portability (2022-2029)
5. Regional Passwordless Authentication Market Market (2021-2029)
• Regional Market, by Component (2022-2029)
• Regional Market, by Type (2022-2029)
• Regional Market, by Authentication Type (2022-2029)
• Regional Market, by End-user (2022-2029)
• Regional Market, by Portability (2022-2029)
• Regional Market, by Country (2022-2029)
6. Company Profile: Key players
• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments
Key Offerings:
• Past Market Size and Competitive Landscape (2018 to 2021)
• Past Pricing and price curve by region (2018 to 2021)
• Market Size, Share, Size & Forecast by different segment | 2022-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by Product
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations
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