Passwordless Authentication

Passwordless Authentication Market by Offering (Hardware, Services, Software), Method (Biometrics, Hardware token, Magic link), Authentication Type, End-user - Global Forecast 2024-2030

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[198 Pages Report] The Passwordless Authentication Market size was estimated at USD 9.44 billion in 2023 and expected to reach USD 11.41 billion in 2024, at a CAGR 22.14% to reach USD 38.31 billion by 2030.

Passwordless Authentication Market
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Passwordless authentication is a security process that allows individuals to access a system or service without the need to enter a password. This method uses alternative forms of verification, such as biometrics (fingerprint, facial recognition), security tokens, or SMS verification, providing a higher level of security and improving user convenience by eliminating the need for remembering complex passwords. Drivers of passwordless authentication include the increasing demand for enhanced security due to rising cyber-attacks and the shortcomings of traditional password systems that are vulnerable to breaches. Additionally, the rising adoption of mobile devices and advancements in technology, such as biometrics, support the expansion of passwordless solutions. However, there are restraints, such as the cost associated with deploying new authentication systems and the resistance from users accustomed to traditional methods. Challenges in implementing passwordless authentication systems include the need for widespread interoperability and compliance with various regulatory standards. Opportunities in this field lie in the potential for integration with emerging technology, such as artificial intelligence and blockchain, which can offer more secure and efficient authentication processes. The demand for such advanced security solutions is expected to increase, presenting a significant opportunity for growth in the sector.
Market Dynamics

The market dynamics represent an ever-changing landscape of the Passwordless Authentication Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Disruption Analysis

The market disruption analysis delves into the core elements associated with market-influencing changes, including breakthrough technological advancements that introduce novel features, integration capabilities, regulatory shifts that could drive or restrain market growth, and the emergence of innovative market players challenging traditional paradigms. This analysis facilitates a competitive advantage by preparing players in the Passwordless Authentication Market to pre-emptively adapt to these market-influencing changes, enhances risk management by early identification of threats, informs calculated investment decisions, and drives innovation toward areas with the highest demand in the Passwordless Authentication Market.

Porter’s Five Forces Analysis

The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Passwordless Authentication Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.

Value Chain & Critical Path Analysis

The value chain of the Passwordless Authentication Market encompasses all intermediate value addition activities, including raw materials used, product inception, and final delivery, aiding in identifying competitive advantages and improvement areas. Critical path analysis of the <> market identifies task sequences crucial for timely project completion, aiding resource allocation and bottleneck identification. Value chain and critical path analysis methods optimize efficiency, improve quality, enhance competitiveness, and increase profitability. Value chain analysis targets production inefficiencies, and critical path analysis ensures project timeliness. These analyses facilitate businesses in making informed decisions, responding to market demands swiftly, and achieving sustainable growth by optimizing operations and maximizing resource utilization.

Pricing Analysis

The pricing analysis comprehensively evaluates how a product or service is priced within the Passwordless Authentication Market. This evaluation encompasses various factors that impact the price of a product, including production costs, competition, demand, customer value perception, and changing margins. An essential aspect of this analysis is understanding price elasticity, which measures how sensitive the market for a product is to its price change. It provides insight into competitive pricing strategies, enabling businesses to position their products advantageously in the Passwordless Authentication Market.

Technology Analysis

The technology analysis involves evaluating the current and emerging technologies relevant to a specific industry or market. This analysis includes breakthrough trends across the value chain that directly define the future course of long-term profitability and overall advancement in the Passwordless Authentication Market.

Patent Analysis

The patent analysis involves evaluating patent filing trends, assessing patent ownership, analyzing the legal status and compliance, and collecting competitive intelligence from patents within the Passwordless Authentication Market and its parent industry. Analyzing the ownership of patents, assessing their legal status, and interpreting the patents to gather insights into competitors' technology strategies assist businesses in strategizing and optimizing product positioning and investment decisions.

Trade Analysis

The trade analysis of the Passwordless Authentication Market explores the complex interplay of import and export activities, emphasizing the critical role played by key trading nations. This analysis identifies geographical discrepancies in trade flows, offering a deep insight into regional disparities to identify geographic areas suitable for market expansion. A detailed analysis of the regulatory landscape focuses on tariffs, taxes, and customs procedures that significantly determine international trade flows. This analysis is crucial for understanding the overarching legal framework that businesses must navigate.

Regulatory Framework Analysis

The regulatory framework analysis for the Passwordless Authentication Market is essential for ensuring legal compliance, managing risks, shaping business strategies, fostering innovation, protecting consumers, accessing markets, maintaining reputation, and managing stakeholder relations. Regulatory frameworks shape business strategies and expansion initiatives, guiding informed decision-making processes. Furthermore, this analysis uncovers avenues for innovation within existing regulations or by advocating for regulatory changes to foster innovation.

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Passwordless Authentication Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Passwordless Authentication Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Passwordless Authentication Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Passwordless Authentication Market, highlighting leading vendors and their innovative profiles. These include 1Kosmos Inc., Authentiq, Beyond Identity, Cidaas by Widas ID, Duo by Cisco Systems, Inc., EmpowerID, Inc., Entrust Corporation, Fujitsu Limited, HID Global Corporation by Assa Abloy AB, IDEE GmbH, Identite, Inc., International Business Machines Corporation, Keyless Technologies, LastPass US LP, LogMeOnce, Microsoft Corporation, NEC Corporation, Okta, Inc., OneLogin by One Identity, Ping Identity, Prove Identity, Inc., PureID, Salesforce, Inc., Secret Double Octopus, Stytch, Inc., Thales Group, Trusona, Ubisecure, Inc., Veridium, and Yubico AB.

Passwordless Authentication Market - Global Forecast 2024-2030
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Market Segmentation & Coverage

This research report categorizes the Passwordless Authentication Market to forecast the revenues and analyze trends in each of the following sub-markets:

  • Offering
    • Hardware
    • Services
    • Software
  • Method
    • Biometrics
    • Hardware token
    • Magic link
    • Native options
    • Smart card
    • Software token
  • Authentication Type
    • Multi-factor authentication
    • Single-factor authentication
  • End-user
    • BFSI
    • Consumer Electronics
    • Energy & Utilities
    • Government & Law Enforcement
    • Healthcare
    • IT and ITeS
    • Manufacturing
    • Travel & Hospitality

  • Region
    • Americas
      • Argentina
      • Brazil
      • Canada
      • Mexico
      • United States
        • California
        • Florida
        • Illinois
        • New York
        • Ohio
        • Pennsylvania
        • Texas
    • Asia-Pacific
      • Australia
      • China
      • India
      • Indonesia
      • Japan
      • Malaysia
      • Philippines
      • Singapore
      • South Korea
      • Taiwan
      • Thailand
      • Vietnam
    • Europe, Middle East & Africa
      • Denmark
      • Egypt
      • Finland
      • France
      • Germany
      • Israel
      • Italy
      • Netherlands
      • Nigeria
      • Norway
      • Poland
      • Qatar
      • Russia
      • Saudi Arabia
      • South Africa
      • Spain
      • Sweden
      • Switzerland
      • Turkey
      • United Arab Emirates
      • United Kingdom

This research report offers invaluable insights into various crucial aspects of the Passwordless Authentication Market:

  1. Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
  2. Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
  3. Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
  4. Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
  5. Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.

Additionally, the report addresses key questions to assist stakeholders in making informed decisions:

  1. What is the current market size and projected growth?
  2. Which products, segments, applications, and regions offer promising investment opportunities?
  3. What are the prevailing technology trends and regulatory frameworks?
  4. What is the market share and positioning of the leading vendors?
  5. What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?

Table of Contents
  1. Preface
  2. Research Methodology
  3. Executive Summary
  4. Market Overview
  5. Market Insights
  6. Passwordless Authentication Market, by Offering
  7. Passwordless Authentication Market, by Method
  8. Passwordless Authentication Market, by Authentication Type
  9. Passwordless Authentication Market, by End-user
  10. Americas Passwordless Authentication Market
  11. Asia-Pacific Passwordless Authentication Market
  12. Europe, Middle East & Africa Passwordless Authentication Market
  13. Competitive Landscape
  14. Competitive Portfolio
  15. List of Figures [Total: 24]
  16. List of Tables [Total: 390]
  17. List of Companies Mentioned [Total: 30]
Embracing Passwordless Authentication in the Age of Touchless Technology
July 4, 2023
BLOG
Embracing Passwordless Authentication in the Age of Touchless Technology
In the present world, where technology is advancing rapidly, touchless authentication is becoming an increasingly popular trend. The need for safe and secure authentication methods that eliminate the need for passwords is driving this trend. Passwordless authentication is gaining popularity because passwords have become outdated and vulnerable. This blog explores the scope of passwordless authentication in the touchless era, how it works, and why it's high time we embrace this trend.

The scope of passwordless authentication is vast and not limited to just one type of authentication. Passwordless authentication methods can secure your identity and access your accounts and devices. For instance, fingerprint authentication is a common type of passwordless authentication that utilizes biometric data to grant access. Face ID also uses facial recognition technology to authenticate the user. In addition to biometric authentication, there are other types of passwordless authentication, including push notifications, SMS verification, and hardware security keys.

The advantages of passwordless authentication are numerous, and they significantly improve over traditional authentication methods. First and foremost, passwordless authentication eliminates the need for users to remember complex passwords, which can be a burden both concerning user experience but also security. Ending password fatigue and the need to create new passwords regularly can save time and effort. Passwordless authentication also provides users with a more secure authentication method, reducing the risk of password breaches and security incidents compromising their data.

In recent years, with advancements in touchless technology, passwordless authentication has become even more secure and accessible. With the Internet of Things devices such as smart speakers, smart TVs, and other networked devices increasingly prevalent in homes, passwordless authentication is becoming a default user preference. In addition, touchless technology is particularly relevant in the mobile world. Touchless authentication systems can provide an excellent solution in a world where touch is discouraged. Using alternative means to authenticate, such as facial recognition or a phone's accelerometer, is now a practical solution, making the experience touchless and more seamless.

Many challenges face organizations when it comes to the adoption of passwordless authentication. Human nature is often resistant to change, and users may hesitate to adopt something new. In addition, administrators must ensure that passwordless authentication systems are integrated correctly into their IT architecture for optimal security. Good planning and implementation are essential, and the process must include systems to manage passwords and security measures for transitioning from a password-based system to a passwordless one.

Passwordless authentication is a safe, accessible, and effective method for authentication in today's touchless era. With touchless technology becoming more prevalent, adopting passwordless authentication is a natural progression in data protection and online identity management. As with all new technologies, there are challenges and advantages, and creating a plan for integration is essential. Passwordless authentication is technically advanced to eliminate password discomfort and security risks. It is high time that individuals and organizations embrace this trend to secure their identities and data.

Frequently Asked Questions
  1. How big is the Passwordless Authentication Market?
    Ans. The Global Passwordless Authentication Market size was estimated at USD 9.44 billion in 2023 and expected to reach USD 11.41 billion in 2024.
  2. What is the Passwordless Authentication Market growth?
    Ans. The Global Passwordless Authentication Market to grow USD 38.31 billion by 2030, at a CAGR of 22.14%
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