Aug 7, 2023 4 min read

Passwordless Authentication Market Opportunities, and Market Forecast to 2029

Passwordless Authentication Market size was valued at USD 6.5 Bn in 2022 and is expected to reach USD 23 Bn by 2029, at a CAGR of 26.3% over the forecast period (2023-2029).

Passwordless Authentication Market Overview :

Maximize Market Research, a leading business consultancy has recently published a research report on the Passwordless Authentication Market. The market overview provides a concise synopsis of a commercial or industrial market. Its purpose is to offer a current snapshot of the market to gain a better understanding of its key features. This summary reports profile the important criteria of a market to inform further marketing activities. The overview draws information from various sources, including government departments, trade and industry associations, market publications, industry analysis, individual companies, state economic development agencies, port authorities, information brokers, and other organizations.

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Passwordless Authentication Market Scope

The report offers a comprehensive evaluation of a specific market or industry. It encompasses an overview of key players, an analysis of the competitive landscape, an assessment of significant trends and developments, and a forecast for future growth. The market scope is determined by factors such as product, price, place, and promotion. Focused strategies are essential components of the market scope. The report provides the leading source for market data, independent perspectives, and objective analysis in today's ophthalmic markets. The STEEPLE analysis also offers an overview of the macro-environmental factors that impact an organization. Primary and secondary data are analyzed to understand the market in depth. Secondary data is collected from various reliable sources, including official databases of organizations, government sites, industry journals, white papers, annual reports, product releases from manufacturers and suppliers, and paid databases.

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Passwordless Authentication Market Segmentation :

According to Components, the Hardware industry owned the greatest market share for passwordless authentication in 2022. Users use cryptographically secure hardware to perform multi-factor authentication through hardware-based security devices. It consists of mobile solutions, smart cards, tokens, and biometric systems. These programmes are used to maintain data security and compliance with international security standards.

The category for fingerprint authentication, which accounted for the greatest market share by type in 2022, is anticipated to maintain its leadership throughout the forecast period. Demand for the fingerprint authentication segment is anticipated to expand as segment growth as a result of an expansion in the law enforcement sector. Smartphone users frequently use face recognition to unlock their devices and confirm payments.

According to End-user, IT, and Telecomm, the government sector accounted for the highest share of the passwordless authentication market in 2022. A significant adoption rate of encryption techniques was seen with the digital growth of electronic devices like smart speakers. The selection of an authentication mechanism or deployment mode may be influenced by the security and compliance needs of various businesses, as well as by the use cases and user behaviours.

Passwordless Authentication Market Analysis and Forecast, by Component (2022-2029)

Hardware
Software
Services

Passwordless Authentication Market Analysis and Forecast, by Type (2022-2029)

Fingerprint Authentication
Palm Recognition
Iris Recognition
Face Recognition
Voice Recognition
Smart Card

Passwordless Authentication Market Analysis and Forecast, by Authentication Type (2022-2029)

Single-factor Authentication
Multi-factor Authentication

Passwordless Authentication Market Analysis and Forecast, by End-user (2022-2029)

IT & Telecom
Retail
Transportation & Logistics
Aerospace & Defense
BFSI
Healthcare
Government

Passwordless Authentication Market Analysis and Forecast, by Portability (2022-2029)

Fixed
Mobile

Passwordless Authentication Market Key Players :

1.Fujitsu
2.NEC Corporation
3.M2SYS Technology
4. Microsoft
5. HID Global Corporation
6. Okta
7. HID Global
8. Duo Security
9.Cisco
10.IBM
11.Log Me Once
12.Trusona
13.PureID
14.Keyless
15.Identite
16.Kosmos
17.Ubisecure
18. Signicat
19. Stytch
20. Hypr
21. Secret Double Octopus

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Regional Analysis

The regional analysis focuses on determining price and quantity in a specific product market, treating one market as independent of others. The regional analysis covers metadata that includes graphical, numerical, and textual data, showcasing market growth and forecasting periods.

Key Questions Answered in the Passwordless Authentication Market Report:

What is the definition of the Passwordless Authentication Market?
What is the forecast period for the Passwordless Authentication Market?
What is the competitive scenario of the Passwordless Authentication market?
Which region holds the largest market share in the Passwordless Authentication Market?
What are the opportunities for the Passwordless Authentication Market?
What factors are affecting the growth of the Passwordless Authentication market?
Who are the key players in the Passwordless Authentication market?
Which company holds the largest share in the Passwordless Authentication market?
What will be the compound annual growth rate (CAGR) of the Passwordless Authentication market during the forecast period?
What key trends are likely to emerge in the Passwordless Authentication market in the coming years?

Key Offerings:

Market Share, Size, and Revenue Forecast | 2022-2029
Market Dynamics: Growth drivers, restraints, investment opportunities, and key trends
Market Segmentation: Detailed analysis by Passwordless Authentication market
Landscape: Leading key players and other prominent participants.

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