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 rapidly expanding as businesses and consumers seek more secure and convenient methods to access digital services. This technology eliminates the need for traditional passwords by leveraging alternative authentication methods such as biometrics, hardware tokens, and magic links. The growing concerns over cyber threats, data breaches, and identity theft are driving the adoption of passwordless solutions, which promise enhanced security by reducing the risk associated with weak or stolen passwords. Additionally, the increasing reliance on mobile devices and the proliferation of Internet of Things (IoT) devices are further propelling the demand for more seamless and user-friendly authentication methods.

Market players are investing heavily in research and development to innovate and improve passwordless authentication technologies. Companies like Microsoft, Google, and IBM are leading the charge by integrating these solutions into their platforms, aiming to set new standards for digital security. Small to medium-sized enterprises (SMEs) are also recognizing the benefits of passwordless authentication, especially in terms of cost savings and improved user experience. The market is expected to witness significant growth over the next few years, with advancements in artificial intelligence and machine learning playing a crucial role in enhancing the effectiveness and reliability of these authentication methods. As regulatory bodies worldwide continue to emphasize the importance of robust security measures.

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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 Points Covered in the Report:

• A thorough analysis of value and volume at the worldwide, sector, and regional levels is included in the global Passwordless Authentication ' market report.

• The study offers a full business size Passwordless Authentication ' from a global point of view through a review of past facts and possible scenarios.

• Geographically, the Passwordless Authentication of market analysis includes the number of regions and their contrast of revenue.

• The market analysis focuses on ex-factory costs, output volume, market share & sales for every manufacturer on a company level basis.

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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