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Passwordless Authentication Market

According to the research report, the global passwordless authentication market was valued at USD 16.95 billion in 2023 and is expected to reach USD 78.92 billion by 2032, to grow at a CAGR of 18.7% during the forecast period.<br>

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Passwordless Authentication Market

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  1. Expected to Reach USD 78.92 Billion By 2032 | CAGR: 18.7% Passwordless Authentication Market 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, 2024 - 2032

  2. Passwordless Authentication Market Estimate & Forecast • According to the research report, the global Passwordless authentication market was valued at USD 16.95 billion in 2023 and is expected to reach USD 78.92 billion by 2032, to grow at a CAGR of 18.7% during the forecast period. • The Passwordless Authentication Market is rapidly expanding as businesses and individuals seek more secure and user-friendly alternatives to traditional password-based systems. Passwordless authentication methods, such as biometrics (fingerprint, facial recognition), hardware tokens, and multi-factor authentication (MFA) with one-time codes, are gaining traction due to their enhanced security and convenience. These solutions help reduce vulnerabilities associated with weak passwords, phishing attacks, and credential theft. The rise in cyberattacks and the growing demand for seamless user experiences are driving adoption across sectors like banking, healthcare, and IT. As security becomes a top priority in digital transformation, the market is expected to see continued growth.

  3. Passwordless Authentication Market Key Trends Key trends in the Passwordless Authentication Market include: Biometric Authentication: Technologies like fingerprint scanning, facial recognition, and voice recognition are becoming mainstream, offering secure and seamless user experiences without the need for traditional passwords. FIDO2 and WebAuthn Adoption: The growing adoption of the FIDO2 (Fast Identity Online) standard and WebAuthn is enabling more organizations to implement passwordless authentication across websites and apps, improving security and reducing reliance on passwords. Multi-Factor Authentication (MFA) Evolution: MFA is evolving beyond password-based methods to include biometrics, push notifications, or physical security keys as a secondary authentication factor, enhancing security for remote and on-premise users. Hardware Security Keys: Devices like YubiKey and Google Titan Security Key are gaining popularity, providing an extra layer of security by authenticating users with a physical token in addition to biometrics or one-time codes. Decentralized Identity Solutions: Blockchain-based authentication and decentralized identity (DID) systems are emerging as new ways to verify identity securely without traditional passwords, offering better privacy control and reducing centralized data risks.

  4. Passwordless Authentication Market Competitive Landscape • The study then includes the competitive insights of market across various regions wherein our research analysts explores in-depth profiles of main players along with new product launches, recent technologies influencing the target market. The competitive study section also contains production, major development strategies, revenue, and growth rate for the leading players. This assessment will aid market players to stay ahead of competitive landscape and boost productivity. Major players operating in the market are: • Microsoft Corporation • Duo Security • Secret Double Octopus • Thales • Beyond Identity • HID Global Corporation • NEC Corporation • Safran • East Shore Technology LLC • DERMALOG Identification Systems GmbH • ASSA ABLOY • Fujitsu • N2SYS Technology • Accu-Time Systems Inc. • Cognitec Systems • Eyeverify Inc. • Okta Inc. • Prove • Browse Complete Report

  5. About Us Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for a clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors, and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and highly qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers. Web:www.polarismarketresearch.com Official Blog: http://polarismarketresearch.blogspot.com

  6. Thank You! Thank You! • Polaris Market Research30 Wall Street8th Floor, New York City, NY 10005,United States sales@polarismarketresearch.com +1-929 297-9727

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