Passwordless Authentication Market Extrapolated to Reach $21.2 billion by 2027

MarketsandMarkets™

Passwordless Authentication Market Extrapolated to Reach $21.2 billion by 2027

MarketsandMarkets forecasts the global passwordless authentication market size estimated to be USD 6.6 billion in 2022 and is projected to reach USD 21.2 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 26.2% during the forecast period. Reduction in the total cost of ownership, strengthening of security and a reduction in cyberattacks, and better user experience are key factors driving the market growth.

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What is Passwordless Authentication?

Passwordless authentication is a means to verify a user’s identity without a password. Instead, passwordless authentication uses more secure alternatives, such as possession factors (One-Time Passwords [OTP], registered smartphones), or biometrics (fingerprint, retina scans).

Competitive Overview:

The passwordless authentication market is led by some of the globally established players, such as HID Global (US), NEC (Japan), Microsoft (US), Fujitsu (Japan), Okta (US), Duo Security (US), Thales (France), Beyond Identity (US), Entrust (US), Ping Identity (US), Veridium (UK), and OneLogin (US). These players have adopted various growth strategies to increase their market presence, such as partnerships, agreements, collaboration, acquisitions, and product developments.

HID Global (US) offers hardware and software solutions that help organizations, governments, and educational institutions secure access and enable insight into their personnel, assets, and surroundings. HID technology includes smart cards, mobile IDs, passports, fingerprint readers, and facial recognition. It provides several solutions and services for passwordless authentication, such as access control, Identity management, citizen ID, card printing, biometric readers & modules, cards & credentials, ePassports & eID Cards, ID badge & card printing, Identity document readers, and ticket readers and validators. The company offers its services to various industries, including banking & finance, commercial real estate, education, government, healthcare, manufacturing & logistics, retail, hospitality, sports & events, and travel & transportation. It has a global reach in North America, Europe, and the Asia Pacific.

Another important player in the passwordless authentication market is Duo Security (US). The company provides authentication-as-a-service products that employ consumers' mobile devices as the second authentication factor. The Duo is the market leader in cloud-based unified access security and multi-factor authentication. Duo's technology verifies users' identities and the security of their devices before granting them access to apps, thereby preventing cybersecurity attacks. The company is trying to develop a truly password-free future that combines usability and strong authentication. Duo's passwordless products and services include Multi-Factor Authentication (MFA), Remote Access, and Single Sign-On (SSO). Duc Security purchased Cisco in 2018, allowing its clients to connect swiftly and securely to any application on any networked device.

Apart from large vendors, some SMEs and startups, such as Yubico (US), Secret Double Octopus (Israel), LogMeOnce (US), Trusona (US), LastPass (US), and Keyless (US), are also evolving in the passwordless authentication market. Yubico provides innovative, hardware-based authentication security at scale. Passwordless authentication solutions offered by the company include Yubikey 5 Series, Yubikey 5 FIPS Series, YubiKey Bio Series, Security Key Series, Yubikey 5 CSPN Series, and YubiHSM.

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According to MnM’s market evaluation framework, most companies opt for inorganic growth strategies to maintain their position in the market. The number of deals increased by around 50-60% in 2020-2021. These deals collectively include partnerships, acquisitions, collaborations, and alliances. Due to the COVID-19 outbreak, there was a sudden decline in product launches and business expansion activities. However, from 2021 onwards, companies are expected to follow organic growth strategies to provide passwordless authentication solutions and services to end users, which, on the other hand, would help companies increase their market revenue.

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Passwordless Authentication Market Size, Share, Regional Overview and Global Forecast to 2030

Akashlina 2023-05-27

Get more information on "Global Passwordless Authentication Market Research Report" by requesting FREE Sample Copy at https://www. Furthermore, government regulations such as GDPR, CCPA, and HIPAA, among others, are also driving the demand for more secure and compliant authentication solutions, which is expected to fuel passwordless authentication market growth. Additionally, these tools also give an inclusive assessment of each segment in the global market of passwordless authentication. Browse Global Passwordless Authentication Market Research Report with detailed TOC at https://www. Purchase Complete Global Passwordless Authentication Market Research Report at https://www.

Passwordless Authentication Market Size, Trends, Demand and Analysis Research Report 2022 - By Product Type, By Component, By Authentication Type, By End User, By Portability- Industry Scope, Future Competition and Forecast to 2032: SPER Market Research

varsha shrivastav 2023-01-06

According to SPER Market Research, the Passwordless Authentication Market is estimated to reach USD 78. The growing use of smartphones and other consumer electronics is a key factor driving the biometric authentication market. 73 billionThe increasing demand for security methods other than passwords is another element driving the market for passwordless authentication. Impact of COVID-19 on the Passwordless Authentication MarketThe epidemic has enhanced digital business and increased demand for board members with a working knowledge of the internet. sample=1Passwordless Authentication Market Key Segments CoveredThe SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2032.

Passwordless Authentication Market Witness the Growth of $21.2 billion by 2027

marketsandmarkets 2022-11-11

According to a research report "Passwordless Authentication Market by Offering (Hardware, Software, and Services), Motility (Fixed/Rack Mounted, and Mobile/Portable), Authentication Type (Single-factor, Multi-factor), End-Use Industry and Region - Global Forecast to 2027" published by MarketsandMarkets, the global passwordless authentication market is projected to reach USD 6. Browse 350 market data Tables and 40 Figures spread through 350 Pages and in-depth TOC on "Passwordless Authentication Market - Global Forecast to 2027"Download PDF Brochure : https://www. By authentication type, multi-factor authentication to hold a larger market size during the forecast periodThe passwordless authentication market is segmented into single-factor authentication and multi-factor authentication based on the authentication type. As a result, the implementation of passwordless authentication in the area has risen. Additionally, passwordless authentication systems are seeing quick growth potential owing to effective government regulations and technological advancements.

What Security Measures Can a Company Take to Prevent a Hack?

Steph Landau 2022-07-15

This shift to digital technologies comes with significant risks as hackers constantly take advantage of weak security systems and knowledge-based authentication to steal information from businesses. Apart from relying on white hat hackers, businesses can be more proactive by instilling a security-focused workplace culture. Even after introducing a secure work culture, many employees might still not practice their due diligence to keep themselves safe from online threats. One of the first steps they need to take is abandoning dated KBA solutions or at least supplementing them with robust biometric authentication and digital identification solutions for two-factor authentication. For more information, see this article by LoginID.

Advanced Authentication Market Growth Trends by Manufacturers, Regions, Type and Application Forecast to 2030

harshtech 2023-02-15

Advances in authentication techniques such as OTP (one-time-password) authentication, phone-based authentication, and biometrics push the advanced authentication industry. Moreover, the increase in cybercriminal activities, such as hacking of identity badges and numeric pins, boosts the advanced authentication market share. Global Advanced Authentication Market – Regional Analysis North America dominates the global advanced authentication market. The Asia Pacific advanced authentication market is growing rapidly. The APAC advanced authentication market is forecasted to register the highest CAGR over the review period.

Passive Authentication Market Development Strategy, Future Plans and Market Growth with High CAGR by Forecast 2027 | COVID-19 Effects

Santosh 2022-01-18

This is normal in brief the development of passive authentication market in the audit time frame. Notwithstanding, the increment in worries for protection is empowering the reception of biometrics that can control the extension of the passive authentication market development. The organization size based segments of the global passive authentication market are large enterprises and small and medium-sized enterprises (SMEs). Other major factors that can prompt the passive authentication market in the region is the expansion of the IT sector. Contact: Market Research Future (Part of Wantstats Research and Media Private Limited)99 Hudson Street, 5Th FloorNew York, NY 10013United States of America+1 628 258 0071 (US)+44 2035 002 764 (UK)Email: sales@marketresearchfuture.

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