Passwordless Authentication Market
Growth Factors of Passwordless Authentication Market
The Passwordless Authentication market size was valued at USD 16.51 billion in 2023, and the market is now projected to grow from USD 18.82 billion in 2024 to USD 60.34 billion by 2032, exhibiting a CAGR of 15.7% during the forecast period of 2024-2032.
The outbreak of COVID-19 led several businesses to embrace telecommuting policies, which made it more difficult for them to safely authenticate their remote employees accessing the company’s information. As a result of this, a greater number of companies are now turning to this form of authentication as a means of securely authenticating and giving remote workers access to the organization’s network and safeguarding against cybercrime targeting its systems and data in Passwordless Authentication Market growth.
Frequent password resets, forgotten passwords as well as complicated password creation rules may make people feel angry and annoyed in their online activities. To avoid this, instead of using passwords, Passwordless Authentication Market share is proposed which will be more user-friendly and does not require users to memorize their passwords. Consequently, companies are focusing more and more on creating a good user experience by adopting passwordless forms of identification.
The Worldwide Web Consortium (W3C) and the Fast IDentity Online (FIDO) Alliance have designed the Web Authentication (WebAuthn) standards for password-less web authentication using keys on mobile devices, biometrics, etc. It is becoming increasingly popular among web users and is being backed by all leading browsers as well as organizations like Google, Apple, IBM, Microsoft and Mozilla. This is essentially a means to counter cybercrimes and improve security of online accounts.
Comprehensive Passwordless Authentication Market
The Passwordless Authentication market is growing at an rampant rate due to its market segmentation. These segmentations are methodically segregated by Industry Analysis, by Authentication Type Analysis, by Product Type Analysis. The Industry Analysis such as government, BFSI, healthcare, retail & e-commerce, aerospace & defense, IT & telecommunication, and others (transportation & logistics). The Authentication Type Analysis includes single-factor authentication and multi-factor authentication. The Product Type Analysis includes iris recognition, face recognition, fingerprint authentication, and others (voice recognition and smart card).
The North America area lead the Passwordless Authentication market with the resource of estimate a market size of USD 6.61billion in 2023 due to the growing rate of cyberattacks, organizations in the region.
The top players in the market play a crucial role in the Information & Communication Technology industry assuring development and setting market standards. These players such as, NEC Corporation (Japan), HID Global Corporation (U.S.), Fujitsu (Japan), Duo Security (U.S.), SecurEnvoy Ltd (U.K.), Octa (U.S.), Safran (France), Thales (France), CyberArk Software Ltd. (U.S.) these market players contribute a competitive landscape.
In April 2024, Center Identity, a company dedicated to cybersecurity, has introduced a patented solution for businesses that allows them to authenticate without passwords. This will aid in the secure management of digital identity for the workforce within companies.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 15.7% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Product Type
- Fingerprint Authentication
- Face Recognition
- Iris Recognition
- Others (Voice Recognition, Smart Card)
By Authentication Type
- Single-Factor Authentication
- Multi-Factor Authentication
By Industry
- BFSI
- Government
- Retail & E-commerce
- Healthcare
- IT & Telecommunication
- Aerospace & Defense
- Others (Transportation & Logistics)
By Region
- North America (By Product Type, Authentication Type, Industry, and Country)
- U.S.
- Canada
- Mexico
- Brazil
- Argentina
- Rest of South America
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Benelux
- Nordics
- Rest of Europe
- Turkey
- Israel
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
- China
- India
- Japan
- South Korea
- ASEAN
- Oceania
- Rest of Asia Pacific
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- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 3.3. Impact of Generative AI
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global Passwordless Authentication Key Players Market Share/Ranking, 2023
- 5. Global Passwordless Authentication Market Size Estimates and Forecasts, By Segments, 2019-2032
- 5.1. Key Findings
- 5.2. By Product Type (USD)
- 5.2.1. Fingerprint Authentication
- 5.2.2. Face Recognition
- 5.2.3. Iris Recognition
- 5.2.4. Others (Voice Recognition, Smart Card, etc.)
- 5.3. By Authentication Type (USD)
- 5.3.1. Single-Factor Authentication
- 5.3.2. Multi-Factor Authentication
- 5.4. By Industry (USD)
- 5.4.1. BFSI
- 5.4.2. Government
- 5.4.3. Retail & E-commerce
- 5.4.4. Healthcare
- 5.4.5. IT & Telecommunication
- 5.4.6. Aerospace & Defense
- 5.4.7. Others (Transportation & Logistics, etc.)
- 5.5. By Region (USD)
- 5.5.1. North America
- 5.5.2. South America
- 5.5.3. Europe
- 5.5.4. Middle East & Africa
- 5.5.5. Asia Pacific
- 6. North America Passwordless Authentication Market Size Estimates and Forecasts, By Segments, 2019-2032
- 6.1. Key Findings
- 6.2. By Product Type (USD)
- 6.2.1. Fingerprint Authentication
- 6.2.2. Face Recognition
- 6.2.3. Iris Recognition
- 6.2.4. Others (Voice Recognition, Smart Card, etc.)
- 6.3. By Authentication Type (USD)
- 6.3.1. Single-Factor Authentication
- 6.3.2. Multi-Factor Authentication
- 6.4. By Industry (USD)
- 6.4.1. BFSI
- 6.4.2. Government
- 6.4.3. Retail & E-commerce
- 6.4.4. Healthcare
- 6.4.5. IT & Telecommunication
- 6.4.6. Aerospace & Defense
- 6.4.7. Others (Transportation & Logistics, etc.)
- 6.5. By Country (USD)
- 6.5.1. United States
- 6.5.2. Canada
- 6.5.3. Mexico
- 7. South America Passwordless Authentication Market Size Estimates and Forecasts, By Segments, 2019-2032
- 7.1. Key Findings
- 7.2. By Product Type (USD)
- 7.2.1. Fingerprint Authentication
- 7.2.2. Face Recognition
- 7.2.3. Iris Recognition
- 7.2.4. Others (Voice Recognition, Smart Card, etc.)
- 7.3. By Authentication Type (USD)
- 7.3.1. Single-Factor Authentication
- 7.3.2. Multi-Factor Authentication
- 7.4. By Industry (USD)
- 7.4.1. BFSI
- 7.4.2. Government
- 7.4.3. Retail & E-commerce
- 7.4.4. Healthcare
- 7.4.5. IT & Telecommunication
- 7.4.6. Aerospace & Defense
- 7.4.7. Others (Transportation & Logistics, etc.)
- 7.5. By Country (USD)
- 7.5.1. Brazil
- 7.5.2. Argentina
- 7.5.3. Rest of South America
- 8. Europe Passwordless Authentication Market Size Estimates and Forecasts, By Segments, 2019-2032
- 8.1. Key Findings
- 8.2. By Product Type (USD)
- 8.2.1. Fingerprint Authentication
- 8.2.2. Face Recognition
- 8.2.3. Iris Recognition
- 8.2.4. Others (Voice Recognition, Smart Card, etc.)
- 8.3. By Authentication Type (USD)
- 8.3.1. Single-Factor Authentication
- 8.3.2. Multi-Factor Authentication
- 8.4. By Industry (USD)
- 8.4.1. BFSI
- 8.4.2. Government
- 8.4.3. Retail & E-commerce
- 8.4.4. Healthcare
- 8.4.5. IT & Telecommunication
- 8.4.6. Aerospace & Defense
- 8.4.7. Others (Transportation & Logistics, etc.)
- 8.5. By Country (USD)
- 8.5.1. United Kingdom
- 8.5.2. Germany
- 8.5.3. France
- 8.5.4. Italy
- 8.5.5. Spain
- 8.5.6. Russia
- 8.5.7. Benelux
- 8.5.8. Nordics
- 8.5.9. Rest of Europe
- 9. Middle East & Africa Passwordless Authentication Market Size Estimates and Forecasts, By Segments, 2019-2032
- 9.1. Key Findings
- 9.2. By Product Type (USD)
- 9.2.1. Fingerprint Authentication
- 9.2.2. Face Recognition
- 9.2.3. Iris Recognition
- 9.2.4. Others (Voice Recognition, Smart Card, etc.)
- 9.3. By Authentication Type (USD)
- 9.3.1. Single-Factor Authentication
- 9.3.2. Multi-Factor Authentication
- 9.4. By Industry (USD)
- 9.4.1. BFSI
- 9.4.2. Government
- 9.4.3. Retail & E-commerce
- 9.4.4. Healthcare
- 9.4.5. IT & Telecommunication
- 9.4.6. Aerospace & Defense
- 9.4.7. Others (Transportation & Logistics, etc.)
- 9.5. By Country (USD)
- 9.5.1. Turkey
- 9.5.2. Israel
- 9.5.3. GCC
- 9.5.4. North Africa
- 9.5.5. South Africa
- 9.5.6. Rest of MEA
- 10. Asia Pacific Passwordless Authentication Market Size Estimates and Forecasts, By Segments, 2019-2032
- 10.1. Key Findings
- 10.2. By Product Type (USD)
- 10.2.1. Fingerprint Authentication
- 10.2.2. Face Recognition
- 10.2.3. Iris Recognition
- 10.2.4. Others (Voice Recognition, Smart Card, etc.)
- 10.3. By Authentication Type (USD)
- 10.3.1. Single-Factor Authentication
- 10.3.2. Multi-Factor Authentication
- 10.4. By Industry (USD)
- 10.4.1. BFSI
- 10.4.2. Government
- 10.4.3. Retail & E-commerce
- 10.4.4. Healthcare
- 10.4.5. IT & Telecommunication
- 10.4.6. Aerospace & Defense
- 10.4.7. Others (Transportation & Logistics, etc.)
- 10.5. By Country (USD)
- 10.5.1. China
- 10.5.2. India
- 10.5.3. Japan
- 10.5.4. South Korea
- 10.5.5. ASEAN
- 10.5.6. Oceania
- 10.5.7. Rest of Asia Pacific
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. HID Global Corporation
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. NEC Corporation
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.3. Secret Double Octopus
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.4. Fujitsu
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.5. Octa
- 11.5.1. Overview
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.6. Duo Security
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.7. SecurEnvoy Ltd
- 11.7.1. Overview
- 11.7.1.1. Key Management
- 11.7.1.2. Headquarters
- 11.7.1.3. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. CyberArk Software Ltd.
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.9. Safran
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.10. Thales
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
- 12. Key Takeaways
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