Passwordless Authentication Market Growth, Demand, Share, Revenue and Future Trends 2032: SPER Market Research

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Published: Jan 2023	Report ID: IACT2302	Pages: 1 - 206	Formats^*:
Category : Information & Communications Technology

Passwordless Authentication Market Introduction and Overview

According to SPER Market Research, the Global Passwordless Authentication Market is estimated to reach USD 50.81 billion by 2032 with a CAGR of 12.43%.

The report includes an in-depth analysis of the Global Passwordless Authentication Market, including market size and trends, product mix, Applications, and supplier analysis. Personalized identifying numbers, security tokens, and other methods are employed in the security process of passwordless authentication, which also leverages distinct biological characteristics like voice analysis, iris recognition, fingerprint recognition, face recognition, and others. Passwordless authentication methods are continuously upgrading in popularity since they offer better security and make it simple to access data from anywhere. The core security architecture is altered by passwordless technology, which shifts verification to the device rather than transmitting credentials via an internet connection. Classic multi-factor authentication (MFA) offers security and ease to the authentication process even with more sophisticated passwordless systems.

In March 2024: Microsoftâ€™s Surface Pro 10 for Business introduced NFC-based passwordless authentication with YubiKeys.

In February 2024: To launch a safe, password-free mobile identity authentication service in India, Times Internet, a Times Group digital initiative, partnered with Sekura.id.

Market Opportunities and Challenges

Opportunities: Enterprises are striving to enhance user experiences, as decreased login friction could persuade clients to select one provider over another: Multiple password generation and memory is impossible at the same time. It's often tough to change a lost password as well. Therefore, users frequently select passwords that are simpler for them to remember. The growing need for more robust security measures than just passwords is driving the growth of the passwordless authentication market. In addition to facilitating cross-location data transfer and a smooth user experience, smartcards and fingerprint sensors are employed for identity authentication.

Challenges: The introduction of new software or hardware and staff training must precede the implementation of passwordless authentication. Time that could be spent on other chores or significant projects is lost during the development and implementation of a project and change management plan. It is also necessary for staff training. The expenses related to software and hardware involved with the adoption of passwordless authentication are also included. The price of the hardware installation includes the cost of purchasing tokens, cards, and gadgets for every employee. A few unforeseen expenses, such as those for software administration, migration, and maintenance, may still arise even if employing the program might end up being less expensive.

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Market Competitive Landscape

Although new and medium-sized enterprises account for a sizeable portion of the worldwide market share, the passwordless authentication market is generally fragmented with various combinations. Companies are spending a lot of money on R&D to introduce better passwordless authentication technologies to reduce data breaches. Key players are ASSA ABLOY, DERMALOG Identification Systems GmbH, East Shore Technology, LLC, Fujitsu, HID Global Corporation, M2SYS Technology, Microsoft, NEC Corporation, Safran, and Thales are a few of the top companies in the sector.

Scope of the Report:

Report Metric	Details
Market size available for years	2019-2032
Base year considered	2021
Forecast period	2022-2032
Segments covered	By Component, By Product Type, By Authentication Type, By Portability, By End User
Regions covered	North America, Asia-Pacific, Latin America, Middle East &Africa and Europe
Companies Covered	ASSA ABLOY, DERMALOG Identification Systems GmbH, East Shore Technology, LLC, Fujitsu, HID Global Corporation, M2SYS Technology, Microsoft, NEC Corporation, Safran, Thales.

COVID-19 Impact on Global Passwordless Authentication Market

Positive effects have been seen in the market expansion for passwordless authentication since the COVID-19 epidemic broke out. Due to the deadly coronavirus's quick spread, many organizations decided to move from traditional office settings to remote or online workspaces. This led to an increase in the number of unsecured personal systems that were given to businesses, which increased the risk and danger of security breaches by making networks more vulnerable to hackers. As a result, to combat these fraudulent actions, the usage of secure authentication methods was growing quickly.

Key Target Audience:

Chief Information Security Officers (CISOs) and IT Security Teams
Enterprises
Financial Institutions
Healthcare Organizations
Government Agencies
Retailers
Social Media Companies
Consumers
Mobile App Developers
Internet of Things (IoT) Device Manufacturers

Our in-depth analysis of the Passwordless Authentication Market includes the following segments:

By Component:	Hardware Software and Services
By Product Type:	Fingerprint Authentication Palm Recognition Iris Recognition Face Recognition Voice Recognition Smart Card Others
By Authentication Type:	Single-factor Authentication Multi-factor Authentication
By Portability:	Fixed Mobile
By End User:	IT & Telecom Retail Transportation & Logistics Aerospace & Defence BFSI Healthcare Government

Key Topics Covered in the Report:

Global Passwordless Authentication Market Size (FYâ€™2022-FYâ€™2032)
Overview of Global Passwordless Authentication Market
Segmentation of Global Passwordless Authentication Market By Component (Hardware, Software and Services)
Segmentation of Global Passwordless Authentication Market By Product Type (Fingerprint Authentication, Palm Recognition, Iris Recognition, Face Recognition, Voice Recognition, Smart Card, Others)
Segmentation of Global Passwordless Authentication Market By Authentication Type (Single-factor Authentication, and Multi-factor Authentication)
Segmentation of Global Passwordless Authentication Market By Portability (Fixed and Mobile)
Segmentation of Global Passwordless Authentication Market By End User (IT & Telecom, Retail, Transportation & Logistics, Aerospace & Defence, BFSI, Healthcare, Government, Others)
Statistical Snap of Global Passwordless Authentication Market
Expansion Analysis of Global Passwordless Authentication Market
Problems and Obstacles in Global Passwordless Authentication Market
Competitive Landscape in the Global Passwordless Authentication Market
Impact of COVID-19 and Demonetization on Global Passwordless Authentication Market
Details on Current Investment in Global Passwordless Authentication Market
Competitive Analysis of Global Passwordless Authentication Market
Prominent Players in the Global Passwordless Authentication Market
SWOT Analysis of Global Passwordless Authentication Market
Global Passwordless Authentication Market Future Outlook and Projections (FYâ€™2022-FYâ€™2032)
Recommendations from Analyst

1. Introduction

1.1. Scope of the report
1.2. Market segment analysis

2. Research Methodology

2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPERâ€™s internal database
2.1.4. Premium insight from KOLâ€™s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation

3. Executive Summary

4. Market Dynamics

4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Passwordless Authentication Market.

5. Market variable and outlook

5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTERâ€™s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis

6. Competitive Landscape

6.1. Global Passwordless Authentication Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Passwordless Authentication Market

7. Global Passwordless Authentication Market, By Component (USD Million) 2019-2032

7.1. Global Passwordless Authentication Market Size, Share and Forecast, By Component, 2019-2025
7.2. Global Passwordless Authentication Market Size, Share and Forecast, By Component, 2026-2032
7.3. Hardware
7.4. Software and Services

8. Global Passwordless Authentication Market, By Product Type (USD Million) 2019-2032

8.1. Global Passwordless Authentication Market Size, Share and Forecast, By Product Type, 2019-2025
8.2. Global Passwordless Authentication Market Size, Share and Forecast, By Product Type, 2026-2032
8.3. Fingerprint Authentication
8.4. Palm Recognition
8.5. Iris Recognition
8.6. Face Recognition
8.7. Voice Recognition
8.8. Smart Card
8.9. Others

9. Global Passwordless Authentication Market, By Authentication Type (USD Million) 2019-2032

9.1. Global Passwordless Authentication Market Size, Share and Forecast, By Authentication Type, 2019-2025
9.2. Global Passwordless Authentication Market Size, Share and Forecast, By Authentication Type, 2026-2032
9.3. Single-factor Authentication
9.4. Multi-factor Authentication

10. Global Passwordless Authentication Market, By Portability (USD Million) 2019-2032

10.1. Global Passwordless Authentication Market Size, Share and Forecast, By Portability, 2019-2025
10.2. Global Passwordless Authentication Market Size, Share and Forecast, By Portability, 2026-2032
10.3. Fixed
10.4. Mobile

11. Global Passwordless Authentication Market, By End User (USD Million) 2019-2032

11.1. Global Passwordless Authentication Market Size, Share and Forecast, By End User, 2019-2025
11.2. Global Passwordless Authentication Market Size, Share and Forecast, By End User, 2026-2032
11.3. IT & Telecom
11.4. Retail
11.5. Transportation & Logistics
11.6. Aerospace & Defence
11.7. BFSI
11.8. Healthcare
11.9. Government
11.10. Others

12. Global Passwordless Authentication Market Forecast, 2019-2032 (USD Million)

12.1. Global Passwordless Authentication Market Size and Market Share

13. Global Passwordless Authentication Market, By Region, 2019-2032 (USD Million)

13.1. Global Passwordless Authentication Market Size and Market Share By Region (2019-2025)
13.2. Global Passwordless Authentication Market Size and Market Share By Region (2026-2032)
13.3. Asia-Pacific
13.3.1. Australia
13.3.2. China
13.3.3. India
13.3.4. Japan
13.3.5. South Korea
13.3.6. Rest of Asia-Pacific
13.4. Europe
13.4.1. France
13.4.2. Germany
13.4.3. Italy
13.4.4. Spain
13.4.5. United Kingdom
13.4.6. Rest of Europe
13.5. Middle East and Africa
13.5.1. Kingdom of Saudi Arabia
13.5.2. United Arab Emirates
13.5.3. Qatar
13.5.4. South Africa
13.5.5. Egypt
13.5.6. Morocco
13.5.7. Nigeria
13.5.8. Rest of Middle-East and Africa
13.6. North America
13.6.1. Canada
13.6.2. Mexico
13.6.3. United States
13.7. Latin America
13.7.1. Argentina
13.7.2. Brazil
13.7.3. Rest of Latin America

14. Company Profile

14.1. ASSA ABLOY.
14.1.1. Company details
14.1.2. Financial outlook
14.1.3. Product summary
14.1.4. Recent developments
14.2. DERMALOG Identification Systems GmbH.
14.2.1. Company details
14.2.2. Financial outlook
14.2.3. Product summary
14.2.4. Recent developments
14.3. East Shore Technology, LLC
14.3.1. Company details
14.3.2. Financial outlook
14.3.3. Product summary
14.3.4. Recent developments
14.4. Fujitsu
14.4.1. Company details
14.4.2. Financial outlook
14.4.3. Product summary
14.4.4. Recent developments
14.5. HID Global Corporation
14.5.1. Company details
14.5.2. Financial outlook
14.5.3. Product summary
14.5.4. Recent developments
14.6. M2SYS Technology
14.6.1. Company details
14.6.2. Financial outlook
14.6.3. Product summary
14.6.4. Recent developments
14.7. Microsoft
14.7.1. Company details
14.7.2. Financial outlook
14.7.3. Product summary
14.7.4. Recent developments
14.8. NEC Corporation
14.8.1. Company details
14.8.2. Financial outlook
14.8.3. Product summary
14.8.4. Recent developments
14.9. Safran.
14.9.1. Company details
14.9.2. Financial outlook
14.9.3. Product summary
14.9.4. Recent developments
14.10. Thales
14.10.1. Company details
14.10.2. Financial outlook
14.10.3. Product summary
14.10.4. Recent developments
14.11. Others

15. Conclusion

16. List of Abbreviation

17. Reference Links

SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.

The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.

SPER-Methodology-1

SPER-Methodology-2

SPER-Methodology-3

Frequently Asked Questions About This Report

How big is the Passwordless Authentication Market?

The Passwordless Authentication Market is projected to reach USD 50.81 billion by 2032, growing at a CAGR of 12.43% during the forecast period.

What is the growth rate of the Passwordless Authentication Market?

The Passwordless Authentication Market grew in market size from 2021. The Market is expected to reach USD 50.81 billion by 2032, at a CAGR of 12.43% during the forecast period.

What is the anticipated CAGR of the Passwordless Authentication Market during the forecast period?

The Passwordless Authentication Market CAGR of 12.43% during the forecast period.

How can I get the sample report on the Passwordless Authentication Market?

You can get the sample pages by clicking the link -Click Here

What is the market size of the Passwordless Authentication Market?

The Passwordless Authentication Market size is USD 50.81 billion from 2022 to 2032.

Which segment is expected to lead the Passwordless Authentication Market?

The Passwordless Authentication Market segment is Covered By Component, By Product Type, By Authentication Type, By Portability, By End User

Which region is expected to have the highest market share in the Passwordless Authentication Market?

The North America region is anticipated to have the highest market share in the Passwordless Authentication Market.

Who are the key players in Passwordless Authentication Market?

The key players in the market include Companies Covered ASSA ABLOY, DERMALOG Identification Systems GmbH, East Shore Technology, LLC, Fujitsu, HID Global Corporation, M2SYS Technology, Microsoft, NEC Corporation, Safran, Thales.

What is the conclusion of the Passwordless Authentication Market?

A significant element boosting the market for biometric authentication is the increasing use of smartphones and other consumer electronics. Another factor boosting the market for passwordless authentication is the growing requirement for security measures beyond passwords. The use of facial and fingerprint recognition is common in consumer electronics like smartphones and tablets.