Passwordless Authentication market to reach US$ 55,679.4 Million by 2032

In 2022, it is anticipated that the global market for passwordless authentication would be worth US$13,450.4 million. Passwordless authentication, which often asks users to establish their identity without utilising passwords as a factor, is a sort of multi-factor authentication.

Sometimes a username is still needed for authentication. A few distinct biological traits of an individual are used by the passwordless authentication security method to confirm authenticity. The development of passwordless authentication solutions is being fueled by important considerations like better security and simple ways to access data from anywhere. The entire market for passwordless authentication is anticipated to reach about US$ 55,679.4 million by 2032, growing at a CAGR of 15.3% between 2022 and 2032.

Passwordless authentication is a method of authentication that doesn’t require users to enter a password. Instead, it relies on other factors, such as biometric data, cryptographic keys, or one-time codes, to verify a user’s identity. The passwordless authentication market has been growing rapidly in recent years, as companies seek to improve security and user experience.

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There are several types of passwordless authentication methods, including:

1. Biometric authentication: This type of authentication uses a person’s unique biological characteristics, such as fingerprints, facial recognition, or iris scans, to verify their identity.
2. Security keys: Security keys are physical devices that connect to a computer or mobile device and provide a secure way to authenticate users. They use cryptographic algorithms to generate unique codes for each login attempt.
3. One-time codes: One-time codes are temporary codes that are generated for each login attempt. These codes can be sent to the user’s mobile device or email address, and they must enter the code within a certain amount of time to authenticate.
4. Public key infrastructure (PKI): PKI is a system that uses digital certificates and public key cryptography to authenticate users. Each user has a public and private key, and the private key is used to sign messages and verify the user’s identity.

Passwordless authentication provides several benefits over traditional password-based authentication methods. It is more secure since there is no password that can be stolen or guessed by hackers. It is also more convenient for users since they do not have to remember and enter a password each time they log in.

Who are the Leading Players in the Passwordless Authentication Market? 

Prominent players in the Passwordless Authentication market are

• Fujitsu Ltd.,
• NEC Corporation,
• Accu-Time Systems Inc.,
• EyeVerify, Inc.,
• Crossmatch Technologies,
• M2SYS Technology,
• Thales Group,

Safran, Dermalog Identification Systems GmbH, East Shore Technologies, Inc. and other regional players.

• In June 2022, access management and authentication provider SecureAuth announced the launch of Arculix, a security automation platform with edge passwordless technology and continuous authentication capabilities. Enterprises can deploy the platform as part of an end-to-end access management solution or to integrate with any industry-standard identity provider to continuously authenticate users in enterprise environments.

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Key Segments Covered in the Passwordless Authentication Industry Analysis

By Solution:

• Passwordless Authentication Software
• Services
  • Professional Services
  • Managed Services

By Authentication Type:

• Single-factor Authentication
• Multi-factor Authentication

By End-use Industry:

• BFSI
• Consumer Electronics
• Logistics
• Government
• Aerospace & Defense
• Healthcare
• Retail
• Others

By Region:

• North America Passwordless Authentication Market
• Latin America Passwordless Authentication Market
• Europe Passwordless Authentication Market
• East Asia Passwordless Authentication Market
• South Asia Passwordless Authentication Market
• Oceania Passwordless Authentication Market
• MEA Passwordless Authentication Market

Table of Content
1. Executive Summary

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.1.1. Drivers

3.1.2. Restraints

3.1.3. Opportunity

3.1.4. Trends

3.2. Scenario Forecast

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Device-Embedded Biometric Authentication Market: The global device-embedded biometric authentication market is projected to have a rapid-paced CAGR of 13.3% during the forecast period

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