Passwordless Authentication Market Size, Trends, Scope, Challenges and Future Competition 2032

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Passwordless Authentication Market Size, Trends, Scope, Challenges and Future Competition 2032: SPER Market Research



 Published: Jan-2023
 Author: SPER Analyst


Global Passwordless Authentication Market is projected to be worth USD 78.73 billion by 2032.

A security method known as passwordless authentication makes use of distinctive biological traits such as voice analysis, iris recognition, fingerprint recognition, face recognition, and others, as well as personal identity numbers, security tokens, and other techniques. Passwordless authentication methods are still growing more and more popular because of increased security and the simplicity of accessing data from anywhere. Passwordless technology alters the underlying security architecture by relocating verification to the device rather than providing credentials via an online connection. The authentication process is still secure and convenient with traditional multi-factor authentication (MFA), notwithstanding the advancement of passwordless solutions. Businesses frequently attempt to strike a balance between user experience and labour access security while maintaining supply chain security, which is essential for B2B financial infrastructure. The growing use of smartphones and other consumer electronics is a key factor driving the biometric authentication market. The increasing demand for security methods other than passwords is another element driving the market for passwordless authentication. Consumer electronics like smartphones and tablets frequently employ facial and fingerprint recognition. Numerous benefits exist for both facial and fingerprint recognition, including improved security, dependability, usability, and non-transferability.


The epidemic has improved digital commerce and raised the need for board members with some familiarity with the web. During the COVID-19 epidemic, businesses all over the world experienced a rise in cybersecurity attacks, including password breaches, credential compromises, phishing, and ransomware. In order to streamline their corporate governance and transparency, workplace health and safety, data privacy, supply chain, and working capital in response to COVID-19's disruption, businesses must use cutting-edge security solutions like passwordless authentication. As a result, the shift to digitalization has quickened. Companies and individuals are migrating from password-based authentication to passwordless solutions like biometrics, iris scanning, facial recognition, and fingerprint scanning as a result of the evolving risks and threats. One security measure that is gaining popularity is passwordless authentication, and this has made the sector more stable and grown.

The Global Passwordless Authentication  Market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as: Accu-Time Systems Inc., Assa Abloy, Authentiq, Beyond Identity, Crossmatch Technologies, Dermalog Identification Systems Gmbh, Duo Security, East Shore Technologies, Inc. , Entrust, EyeVerify, Inc., Fujitsu, HID Global Corporation, M2SYS Technology, Microsoft, NEC Corporation, Okta, Safran, Secret Double Octopus, Thales Group, Ubisecure, Veridium.

SPER Market Research study aims to provide market dynamics, demand and supply with yearly forecast to 2032. This report provides data for growth estimates and forecasts for product type segment – By Product Type (Fingerprint Authentication, Palm Recognition, Iris Recognition, Face Recognition, Voice Recognition, Smart Card, Others), By Component (Hardware, Software, Services), By Authentication Type (Single-factor Authentication, Multi-factor Authentication), By End User (Aerospace & Defence, BFSI, Consumer Electronics, Government, Healthcare, IT & Telecom, Logistics, Public Sector, Retail, Transportation , Others), By Portability (Fixed, Mobile).


This report also provides the data for key regional segments of North America, Europe, Asia-Pacific and Rest of the World. 

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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SPER-Heineken
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SPER-Kankar IMRB

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