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Report
Passwordless Authentication Solutions Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032
Market Report I 2024-08-01 I 220 Pages I Global Market Insights
Global Passwordless Authentication Solutions Market is expected to witness over 10% CAGR from 2024 to 2032, propelled by increasing concerns over cybersecurity and the need for more secure and efficient authentication methods. Traditional password-based systems are vulnerable to attacks, leading to data breaches and financial losses.
Passwordless authentication solutions, which utilize biometrics, hardware tokens, and other advanced technologies, offer a more secure alternative, eliminating the risks associated with password management. As organizations strive to protect sensitive information, the demand for passwordless authentication is set to surge, driving market expansion.
The Passwordless Authentication Solutions Industry size is classified based on the deployment mode, authentication type, component, industry vertical, organization size, application, and region.
The hardware segment is expected to grow substantially over 2024-2032. Hardware-based passwordless authentication solutions, such as biometric devices and security tokens, are gaining traction due to their high security and reliability. These solutions provide a robust defense against cyber threats, offering secure user authentication without the need for passwords.
The growing adoption of hardware tokens in industries like finance, healthcare, and government to safeguard sensitive data is a key driver for this segment's growth. Additionally, advancements in biometric technology, including fingerprint and facial recognition, further enhance the security of hardware-based authentication solutions.
The on-premises deployment mode will capture an appreciable share of the passwordless authentication market by 2032. On-premises solutions offer organizations greater control over their authentication infrastructure, ensuring compliance with stringent data protection regulations.
Industries with high-security requirements, such as finance, defense, and healthcare, prefer on-premises deployment to maintain full ownership of their data and minimize external risks. The growing need for tailored security solutions, coupled with increasing concerns over data privacy, is expected to drive the demand for on-premises passwordless authentication solutions.
Europe is set to drive commendable gains in the passwordless authentication solutions industry from 2024 to 2032, owing to the region's stringent data protection regulations and high adoption of advanced security technologies. The General Data Protection Regulation (GDPR) has intensified the focus on secure user authentication across industries in Europe.
Additionally, the increasing number of cyberattacks and data breaches in the region is fueling the adoption of passwordless authentication solutions. Europe's well-established IT infrastructure, coupled with significant investment in cybersecurity initiatives, is expected to further propel the sector. Government support for digital security initiatives and the presence of leading cybersecurity firms contribute to Europe's strong market position in passwordless authentication.
Report Content
Chapter 1 Methodology and Scope
1.1 Market scope and definition
1.2 Base estimates and calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry 360 synopsis, 2021 - 2032
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Vendor matrix
3.3 Profit margin analysis
3.4 Technology and innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.7 Regulatory landscape
3.8 Impact forces
3.8.1 Growth drivers
3.8.1.1 Increasing demand for enhanced user experience and convenience
3.8.1.2 Rising security concerns and need for robust authentication methods
3.8.1.3 Growing adoption of digital services and online transactions
3.8.1.4 Technological advancements in biometric and authentication technologies
3.8.1.5 Regulatory compliance and data protection requirements
3.8.2 Industry pitfalls and challenges
3.8.2.1 High implementation costs for advanced authentication solutions
3.8.2.2 Privacy concerns related to biometric data usage
3.9 Growth potential analysis
3.10 Porter's analysis
3.10.1 Supplier power
3.10.2 Buyer power
3.10.3 Threat of new entrants
3.10.4 Threat of substitutes
3.10.5 Industry rivalry
3.11 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
Chapter 5 Market Estimates and Forecast, By Authentication Type, 2021 - 2032 (USD million)
5.1 Key trends
5.2 Biometric authentication
5.2.1 Fingerprint recognition
5.2.2 Facial recognition
5.2.3 Voice recognition
5.2.4 Iris recognition
5.2.5 Behavioral biometrics
5.3 Multi-factor authentication (MFA)
5.3.1 Hardware tokens
5.3.2 Software tokens
5.3.3 One-time passwords (OTP)
5.4 Public key infrastructure (PKI)
5.4.1 Digital certificates
5.4.2 Cryptographic keys
5.5 Smart cards
5.6 Token-based authentication
Chapter 6 Market Estimates and Forecast, By Component, 2021 - 2032 (USD million)
6.1 Key trends
6.2 Hardware
6.2.1 Biometric scanners
6.2.2 Smart cards
6.2.3 Security tokens
6.2.4 Others
6.3 Software
6.3.1 Authentication software
6.3.2 Identity management software
6.3.3 Others
6.4 Services
6.4.1 Professional services
6.4.2 Managed services
Chapter 7 Market Estimates and Forecast, By Industry Vertical, 2021 - 2032 (USD million)
7.1 Key trends
7.2 BFSI (Banking, Financial Services, and Insurance)
7.3 It and telecom
7.4 healthcare
7.5 Retail and e-commerce
7.6 Government
7.7 Education
7.8 Media and entertainment
7.9 Others
Chapter 8 Market Estimates and Forecast, By Deployment Mode, 2021 - 2032 (USD million)
8.1 Key trends
8.2 On-premises
8.3 Cloud-based
Chapter 9 Market Estimates and Forecast, By Organization Size, 2021 - 2032 (USD million)
9.1 Key trends
9.2 Small and medium enterprises (SMEs)
9.3 Large enterprises
Chapter 10 Market Estimates and Forecast, By Application, 2021 - 2032 (USD million)
10.1 Key trends
10.2 Access control
10.3 Identity verification
10.4 Fraud prevention
10.5 Transaction security
10.6 Compliance management
Chapter 11 Market Estimates and Forecast, By Region, 2021 - 2032 (USD million)
11.1 Key trends
11.2 North America
11.2.1 U.S.
11.2.2 Canada
11.3 Europe
11.3.1 UK
11.3.2 Germany
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 China
11.4.2 India
11.4.3 Japan
11.4.4 South Korea
11.4.5 ANZ
11.4.6 Rest of Asia Pacific
11.5 Latin America
11.5.1 Brazil
11.5.2 Mexico
11.5.3 Rest of Latin America
11.6 MEA
11.6.1 UAE
11.6.2 South Africa
11.6.3 Saudi Arabia
11.6.4 Rest of MEA
Chapter 12 Company Profiles
12.1 1Password
12.2 Apple
12.3 Auth0
12.4 BioCatch
12.5 Clear
12.6 CyberArk
12.7 Duo Security
12.8 ForgeRock
12.9 Gemalto
12.10 Google
12.11 HID Global
12.12 IBM
12.13 IDEMIA
12.14 LastPass (part of GoTo)
12.15 Microsoft
12.16 Okta
12.17 OneSpan
12.18 Ping Identity
12.19 RSA Security (a division of Dell Technologies)
12.20 SailPoint Technologies
12.21 SecureAuth
12.22 Thales Group
12.23 Trusona
12.24 Yubico
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