Passwordless Authentication Market Share, Size, Trends, Industry Analysis Report, By Offering (Hardware, Software, and Services); By Authentication Type; By Motility; By End-Use; By Region; Segment Forecast, 2023 - 2032

Passwordless Authentication Market Share, Size, Trends, Industry Analysis Report, By Offering (Hardware, Software, and Services); By Authentication Type; By Motility; By End-Use; By Region; Segment Forecast, 2023 - 2032

The global passwordless authentication market size is expected treach USD 78.92 billion by 2032, according ta new study by Polaris Market Research. The report “Passwordless Authentication Market Share, Size, Trends, Industry Analysis Report, By Offering (Hardware, Software, and Services); By Authentication Type; By Motility; By End-Use; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight intcurrent market dynamics and provides analysis on future market growth.

Presently, many organizations are using conventional authentication security systems that requires simple password taccess the services and portals, which might contain many sophisticated information like personal and financial data, that means these conventional alphanumeric password systems can be easily nullified ttrespass the security systems. Thus, ttackle this kind of issues key market players are highly implementing on the development and innovation of more secure and advanced authentication systems, which in turn creating high demand and growth opportunities for the global market.

For instance, 1Password, introduced its latest passwordless authentication for Chrome, Firefox, Brave, & Edge, mainly designed thelp the users automatically save, store, & auto-fill logins with a wide range of 3rd party providers. The newly developed extension will reduce the risk of credential theft by allowing users tlogin without using password and simplify the sign-in experience.

Right now, only few firms and business organizations are using AI tverify identity, but AI will soon play a very crucial role for variety of businesses across applications that are more serious about their security systems access. In the coming years, we are going tsee a tremendous rise in the adoption of AI or machine learning-based authentication technologies and alsbehavior metric authentication, which would further impact the overall market growth and open new opportunities.

Passwordless Authentication Market Report Highlights

Hardware segment accounted for largest market share in 2022, which is mainly driven by high adoption of advanced hardware authentication solutions among large enterprises

Multi-factor authentication segment is expected tgrow at fastest CAGR over the projected period on account of extensive rise in the number of online theft and breaches

Fixed segment held the highest market revenue share in 2022 owing tits large utilization across industrial sector and in businesses tefficiently operate attendance systems and its easy availability in both developed and developing regions

Government and enforcement segment dominated the global market in 2022, due trapidly growing investments in R&D and widespread use of digital programs for variety of government activities

Asia Pacific region is expected temerge fastest at a CAGR throughout the forecast period, owing tsignificant adoption of several advanced authentication technologies in the region

The global key market players include Microsoft Corporation, DuSecurity, Secret Double Octopus, Beyond Identity, and HID Global Corporation

Polaris Market Research has segmented the passwordless authentication market report based on offering, authentication type, mobility, end-use, and region:

Passwordless Authentication, Offering Outlook (Revenue - USD Billion, 2019 - 2032)

Hardware

Software

Services

Passwordless Authentication, Authentication Type Outlook (Revenue - USD Billion, 2019 - 2032)

Single-factor Authentication

Multi-factor Authentication

Passwordless Authentication, Mobility Outlook (Revenue - USD Billion, 2019 - 2032)

Mobile

Fixed

Passwordless Authentication, End-Use Outlook (Revenue - USD Billion, 2019 - 2032)

BFSI

IT and ITeS

Government and Enforcement

Manufacturing

Healthcare

Retail and Consumer Electronics

Travel and Hospitality

Others

Passwordless Authentication, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa