The Passwordless Authentication Market size was valued at USD 8.33 Billion in 2023 and is expected to grow to USD 54.27 Billion By 2031 and grow at a CAGR of 26.4% over the forecast period of 2024-2031.

The passwordless authentication market is experiencing rapid growth as organizations increasingly prioritize security and user convenience. Traditional password systems have long been a vulnerability, with users often choosing weak, easily guessable passwords or falling victim to phishing attacks. Passwordless authentication methods, such as biometrics, hardware tokens, and mobile authentication apps, offer a more secure and user-friendly alternative. These technologies eliminate the need for passwords altogether, leveraging unique biological traits or secure hardware to verify user identities. As cyber threats continue to evolve, businesses are adopting passwordless solutions to mitigate risks, streamline the login process, and enhance overall user experience.

Driving the market expansion are advancements in biometric technology, increasing mobile device usage, and growing regulatory requirements for stronger authentication methods. Governments and regulatory bodies are pushing for more robust security measures to protect sensitive data, further propelling the adoption of passwordless systems. Additionally, the rise of remote work and digital transformation initiatives have accelerated the demand for secure, seamless access to corporate resources. Companies across various sectors, including finance, healthcare, and e-commerce, are investing in passwordless authentication to protect customer data and maintain competitive advantage..

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Covid 19 impact analysis:

The latest report is the most recent study that offers 360° coverage of the Passwordless Authentication  industry that has been facing the brunt of the adverse economic impact of the COVID-19 outbreak since the beginning of this year. The global health crisis has affected nearly every aspect of the business vertical and led to massive disruptions to the global Passwordless Authentication  market demand and supply chains. Researchers draw predictions for the market scenario in the post-COVID era. The report, additionally, assesses the present market situation and estimates its future outcomes, keeping in mind the impact of the pandemic on the global economic landscape.

Major companies profiled in the market report include

 NEC Corporation, HID Global Corporation, Fujitsu, East Shore Technology, LLC, M2SYS Technology, Microsoft, Secret Double Octopus, Thales, Beyond Identity, Safran, DERMALOG Identification Systems GmbH, ASSA ABLOY, EmpowerID, OneLogin, IDEE, and others 

Research objectives:

The latest research report has been formulated using industry-verified data. It provides a detailed understanding of the leading manufacturers and suppliers engaged in this market, their pricing analysis, product offerings, gross revenue, sales network & distribution channels, profit margins, and financial standing. The report’s insightful data is intended to enlighten the readers interested in this business sector about the lucrative growth opportunities in the Passwordless Authentication  market.

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It has segmented the global Passwordless Authentication market

By Component

• Hardware
• Software
• Services

By Portability

• Fixed
• Mobile

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 End-user

• IT & Telecom
• Retail
• Transportation & Logistics
• Aerospace & Defence
• BFSI
• Healthcare
• Government
• Others

Key Reasons to Purchase this Report:

• A comprehensive study of market size, share and dynamics is a global Passwordless Authentication'market research report and a thorough survey of developments in the field.
• It offers an in-depth overview of revenue growth and an analysis of the total business benefits.
• In addition to the strategic landscape for commodity pricing and marketing, the Passwordless Authentication' industry research also provides key players.
• This is a new post covering the latest impact on the target market. The research report addresses the rapidly evolving market climate as well as the initial and future impact assessment

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