Upcoming Milestone: FIDO Authentication Market to Reach $598.6 Million by 2031

The TMR report highlights that the global FIDO Authentication market is poised for significant growth, targeting a valued presence of US$ 598.6 million by the year 2031. The report underscores an anticipated growth trajectory with an 11.3% CAGR during the forecast period from 2023 to 2031.

The fundamental objective of the TMR report lies in furnishing an exhaustive assessment of the global market scene, highlighting principal frontrunners in the realm of FIDO Authentication. Within this evaluation, a clear portrayal of the market's historical and prevailing conditions is outlined, complemented by forecasts of market dimensions and developing trends, all articulated in a straightforward manner. Furthermore, the report imparts extensive information encompassing market volume, share, revenue, production, and sales.

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The holistic understanding presented in the TMR report is the result of a multifaceted approach, incorporating PESTEL, PORTER, and SWOT analyses. This amalgamation unveils essential financial aspects that players in the FIDO Authentication domain should emphasize. By doing so, the report assists in competition identification and the formulation of targeted marketing strategies for both consumer and industrial markets. Employing an assortment of research avenues, including surveys, interviews, and social media analysis, the report paints a comprehensive picture of consumer behaviors.

FIDO Authentication Market: Industry Trends and Value Chain

The study on the FIDO Authentication market presents a granular assessment of the macroeconomic and microeconomic factors that have shaped the industry dynamics. An in-depth focus on industry value chain help companies find out effective and pertinent trends that define customer value creation in the market. The analysis presents a data-driven and industry-validated frameworks for understanding the role of government regulations and financial and monetary policies. The analysts offer a deep-dive into the how these factors will shape the value delivery network for companies and firms operating in the market.

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FIDO Authentication Market: Dynamics

FIDO authentication services engage in the practice of shielding organizations and their assets from cyber threats and identity fraud, which might impede the stability of the business process. It employs numerous authentication techniques to authorize and validate user credentials in real-time.
FIDO authentication services is a sub-segment of identity and access management that can be defined as the management of individual identities, their authorization, and providing access based on predefined rules. Organizations struggled to meet compliance demands, resulting in deploying solutions limited to few applications and systems.
Enterprises have been adopting FIDO authentication services to alleviate these threats in the last few years, which helps synchronize identities between directories, password, compliance management, and access authentication, delivering access to applications and data of sensitive companies on users preferred mobile devices. These FIDO authentication services not only offer a highly secure environment, but they are cost-effective and have operational efficiency and management control. This is projected to propel the FIDO authentication market during the forecast period.
FIDO standards offer a series of scalable specifications such as FIDO2, Universal Second Factor (U2F), and Universal Authentication Framework (UAF), enabling a stronger, simpler, and more secure user authentication experience. For instance, The Alliance added the FIDO Cooperation and Liaison Program, which invites industry associations worldwide for implementation of FIDO standards.
Furthermore, in May 2020, FIDO Alliance launched LoginWithFIDO, a new website to educate service providers and consumers on the benefits of FIDO simpler, stronger authentication.
In April 2018, The W3C launched FIDO2, the web authentication JavaScript API standard and FIDO's corresponding Client to Authentication Protocol. Major players of web browsers such as Microsoft Edge, Mozilla Firefox, Chrome, and Google have also implemented the standards on Windows 10, Android, and related Microsoft technologies to have built-in support for FIDO authentication.
Thus, government agencies pushing for standardization of data security protocols is anticipated to propel the FIDO authentication market significantly during the forecast period.

Major contributors driving the FIDO Authentication market include the subsequent names:

Aware, Inc.
Daon, Inc.
Futurex
Huawei Technologies Co., Ltd. (Huawei Developers)
HYPR Corp.
Movenda S.P.A.
OneSpan Inc.
Thales
Infineon Technologies AG
Yubico
Microcosm Ltd.
Auth0 Inc. (Okta, Inc.)

Market Segmentation

Component

FIDO Authentication Devices
FIDO Authentication SDKs
Support Services

Application

Payment Processing
PKI / Credential Management
Database Encryption
Application Level Encryption
Others

Vertical

Banking & Financial Services
Government
Technology & Communication
Industrial & Manufacturing
Energy & Utility
Retail & Consumer Products
Healthcare & Lifesciences
Others

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The study unveils and carefully analyzes:

Which regions are witnessing rise in investments in the supply chain networks?
Which countries seems to have benefitted from recent import and export policies?
Which regions have witnessed decline in consumer demand due to economic and political upheavals?
Which are some the key geographies that are likely to emerge as lucrative markets?
Which regions are expected to lose shares due to pricing pressures?
Which regions leading players are expected to expand their footprints in the near future?
What are some the sustainability trends impacting the logistics and supply chain dynamics in the FIDO Authentication market?
What are some of the demographic and economic environments that create new demand in developing economies?
How are changing government regulations shaping business strategies and practices?

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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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