The Canada FIDO authentication market size is projected to grow at a CAGR of 13.20% between 2026 and 2035.
Base Year
Historical Period
Forecast Period
According to the statistics by the FIDO Alliance, 81% of hacking-related breaches are caused by weak or stolen passwords, as reported in the Verizon Data Breach Report.
Additionally, there has been a 1,265% rise in malicious phishing emails since Q4 2022 and a 967% rise in credential phishing since Q4 2022, according to the SlashNext 2023 State of Phishing Report.
Furthermore, 54% of consumers have noticed phishing messages become more sophisticated in the last 60 days, as reported in the FIDO Alliance 2023 Authentication Barometer.
Compound Annual Growth Rate
13.2%
2026-2035
*this image is indicative*
With the increasing number of cyber-attacks and data breaches, there is a growing demand for secure authentication methods that are more difficult to hack than traditional password-based authentication methods. Also, various industries in Canada are subject to strict regulatory requirements for data protection. FIDO (Fast Identity Online) authentication can help organisations comply with these regulations by providing a secure authentication method that meets industry standards. Moreover, the increasing adoption of cloud-based services in Canada is also influencing Canada FIDO authentication market development.
Biometric authentication is becoming increasingly popular in Canada, with fingerprint, facial recognition, and voice recognition being the most used methods. Royal Bank of Canada is using FIDO authentication to provide secure and convenient authentication for its online banking services where users can authenticate themselves using their security key or biometrics.
Another market trend is use of multi-factor authentication, such as OTPs and FIDO. As per industry reports, the use of SMS One-Time Passcodes (OTPs) has increased globally by 1% to 4%. Service providers are increasingly offering SMS OTPs as a multi-factor authentication method to enhance consumer security and meet regulatory requirements.
As per industry reports, FIDO authentication offers 75% sign-in time reduction reported by Mercari, a 4x improvement in sign-in success rate (vs passwords) reported by Google, a 50% reduction in abandonment rates reported by Air New Zealand, and a 95% password reset reduction reported by HYPR. This shows how FIDO provides a scalable solution, with a growing number of companies adopting FIDO authentication for its security and convenience benefits. This has aided in Canada FIDO authentication market growth.
"Canada FIDO Authentication Market Report and Forecast 2026-2035" offers a detailed analysis of the market based on the following segments:
Market Breakup by Component
Market Breakup by Deployment Type
Market Breakup by Enterprise Size
Market Breakup by Authentication Type
Market Breakup by End Use
Market Breakup by Region
Market players are keen on capitalising on the increasing security concerns, regulatory compliance requirements, and the need for enhanced data privacy in Canada.
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market is expected to grow at a CAGR of 13.20% between 2026 and 2035.
The market is being driven due to the increasing need for secure authentication methods, the need to comply with regulatory requirements, and the growing adoption of cloud-based solutions.
Key trends aiding the market expansion include the increasing adoption of biometric authentication methods, multi-factor authentication methods, rise of cryptographic-based authentication methods, and shift towards cloud-based deployment models.
Regions considered in the market are Northern Canada, British Columbia, Alberta, The Prairies, Central Canada, and Atlantic Canada.
Different types of authentications are password authentication, biometric authentication, hardware token-based authentication, among others.
Based on end user, the market segmentations include BFSI, healthcare, government and defence, e-commerce, and IT and telecommunications, among others.
FIDO authentication devices and FIDO authentication SDKs are considered in the report.
Key players in the market are OneSpan Inc., Yubico AB, FEITIAN Technologies Co., Ltd., and RSA Security LLC, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Deployment Type |
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| Breakup by Enterprise Size |
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| Breakup by Authentication Type |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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