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The global passwordless authentication market size reached a value of approximately USD 14.4 billion in 2022. The market is further expected to grow at a CAGR of 15.20% between 2023 and 2028, reaching a value of USD 33.66 billion by 2028.
Passwordless authentication refers to refers to an authentication method that allows a user to gain access to an IT system or an application without entering a password. Other forms of evidence such as proximity badge, fingerprints, and hardware token codes are used for identifying the individual and granting access.
On the basis of component, the market is divided into hardware, software, and services. Based on product type, the market is segregated into fingerprint authentication, iris recognition, face recognition, voice recognition, and smart card, among others. On the basis of authentication type, the market is classified into single-factor and multi-factor. Based on portability, the market is bifurcated into fixed and mobile. By end-user, the market is segmented into aerospace and defence, BFSI, government and law enforcement, healthcare, IT and telecom, retail, and transportation and logistics, among others. Based on region, the market is categorised into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global passwordless authentication market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
By end-user, BFSI is projected to witness significant growth in the market for passwordless authentication in the upcoming years. Passwordless authentication remove the necessity of remembering difficult passwords and make the process convenient for customers. Furthermore, it offers advanced security and protects sensitive customer information and financial information. Passwordless authentication also eliminates the risks associated with password authentication, such as weak passwords and utilisation of same password across multiple channels.
North America is anticipated to account for a significant share of the market for passwordless authentication over the forecast period, supported by the strong presence of various key players in the region. The high level of digital adoption, increasing risk of cybercrimes, and presence of advanced cybersecurity infrastructure are propelling the growth of the market in the region. Additionally, growing demand for passwordless authentication from countries such as Canada and the United States is also aiding the expansion of the market in North America.
Microsoft Corporation is a software development company that was founded in 1975 and is headquartered in Washington, United States. The company specialises in educational software, virtual reality, and artificial intelligence, among others.
Google LLC is a multinational company that focuses on search engine technology, artificial intelligence, quantum computing, and online advertising, among others, it was established in 1998 and is based in California, United States.
IBM Corporation is an IT services and IT consulting company that was founded in 1911 and is headquartered in New York in the United States. They specialise in IT infrastructure and technology support, among others.
Other market players include HID Global Corporation, Fujitsu Limited, NEC Corporation, Okta, Inc, Thales Group, Cisco Systems, Inc., Secret Double Octopus, and Beyond Identity,Inc, among others.
REPORT FEATURES | DETAILS |
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Base Year | 2022 |
Historical Period | 2018-2022 |
Forecast Period | 2023-2028 |
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 Product Type |
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Breakup by Authentication Type |
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Breakup by Portability |
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Breakup by End-User |
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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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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Passwordless Authentication Market Analysis
8.1 Key Industry Highlights
8.2 Global Passwordless Authentication Historical Market (2018-2022)
8.3 Global Passwordless Authentication Market Forecast (2023-2028)
8.4 Global Passwordless Authentication Market by Component
8.4.1 Hardware
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Software
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 Services
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.5 Global Passwordless Authentication Market by Product Type
8.5.1 Fingerprint Authentication
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Iris Recognition
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Face Recognition
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.5.4 Voice Recognition
8.5.4.1 Historical Trend (2018-2022)
8.5.4.2 Forecast Trend (2023-2028)
8.5.5 Smart Card
8.5.5.1 Historical Trend (2018-2022)
8.5.5.2 Forecast Trend (2023-2028)
8.5.6 Others
8.6 Global Passwordless Authentication Market by Authentication Type
8.6.1 Single-Factor
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Multi-Factor
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.7 Global Passwordless Authentication Market by Portability
8.7.1 Fixed
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 Mobile
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.8 Global Passwordless Authentication Market by End-User
8.8.1 Aerospace and Defence
8.8.1.1 Historical Trend (2018-2022)
8.8.1.2 Forecast Trend (2023-2028)
8.8.2 BFSI
8.8.2.1 Historical Trend (2018-2022)
8.8.2.2 Forecast Trend (2023-2028)
8.8.3 Government and Law Enforcement
8.8.3.1 Historical Trend (2018-2022)
8.8.3.2 Forecast Trend (2023-2028)
8.8.4 Healthcare
8.8.4.1 Historical Trend (2018-2022)
8.8.4.2 Forecast Trend (2023-2028)
8.8.5 IT and Telecom
8.8.5.1 Historical Trend (2018-2022)
8.8.5.2 Forecast Trend (2023-2028)
8.8.6 Retail
8.8.6.1 Historical Trend (2018-2022)
8.8.6.2 Forecast Trend (2023-2028)
8.8.7 Transportation and Logistics
8.8.7.1 Historical Trend (2018-2022)
8.8.7.2 Forecast Trend (2023-2028)
8.8.8 Others
8.9 Global Passwordless Authentication Market by Region
8.9.1 North America
8.9.1.1 Historical Trend (2018-2022)
8.9.1.2 Forecast Trend (2023-2028)
8.9.2 Europe
8.9.2.1 Historical Trend (2018-2022)
8.9.2.2 Forecast Trend (2023-2028)
8.9.3 Asia Pacific
8.9.3.1 Historical Trend (2018-2022)
8.9.3.2 Forecast Trend (2023-2028)
8.9.4 Latin America
8.9.4.1 Historical Trend (2018-2022)
8.9.4.2 Forecast Trend (2023-2028)
8.9.5 Middle East and Africa
8.9.5.1 Historical Trend (2018-2022)
8.9.5.2 Forecast Trend (2023-2028)
9 North America Passwordless Authentication Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Passwordless Authentication Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Passwordless Authentication Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Passwordless Authentication Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Passwordless Authentication Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 HID Global Corporation
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Microsoft Corporation
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Google LLC
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 IBM Corporation
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Fujitsu Limited
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 NEC Corporation
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Okta, Inc
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Thales Group
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Cisco Systems, Inc.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Secret Double Octopus
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Beyond Identity,Inc
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Passwordless Authentication Market: Key Industry Highlights, 2018 and 2028
2. Global Passwordless Authentication Historical Market: Breakup by Product Type (USD Million), 2018-2022
3. Global Passwordless Authentication Market Forecast: Breakup by Product Type (USD Million), 2023-2028
4. Global Passwordless Authentication Historical Market: Breakup by Authentication Type (USD Million), 2018-2022
5. Global Passwordless Authentication Market Forecast: Breakup by Authentication Type (USD Million), 2023-2028
6. Global Passwordless Authentication Historical Market: Breakup by Component (USD Million), 2018-2022
7. Global Passwordless Authentication Market Forecast: Breakup by Component (USD Million), 2023-2028
8. Global Passwordless Authentication Historical Market: Breakup by Portability (USD Million), 2018-2022
9. Global Passwordless Authentication Market Forecast: Breakup by Portability (USD Million), 2023-2028
10. Global Passwordless Authentication Historical Market: Breakup by End-User (USD Million), 2018-2022
11. Global Passwordless Authentication Market Forecast: Breakup by End-User (USD Million), 2023-2028
12. Global Passwordless Authentication Historical Market: Breakup by Region (USD Million), 2018-2022
13. Global Passwordless Authentication Market Forecast: Breakup by Region (USD Million), 2023-2028
14. North America Passwordless Authentication Historical Market: Breakup by Country (USD Million), 2018-2022
15. North America Passwordless Authentication Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Europe Passwordless Authentication Historical Market: Breakup by Country (USD Million), 2018-2022
17. Europe Passwordless Authentication Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Asia Pacific Passwordless Authentication Historical Market: Breakup by Country (USD Million), 2018-2022
19. Asia Pacific Passwordless Authentication Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Latin America Passwordless Authentication Historical Market: Breakup by Country (USD Million), 2018-2022
21. Latin America Passwordless Authentication Market Forecast: Breakup by Country (USD Million), 2023-2028
22. Middle East and Africa Passwordless Authentication Historical Market: Breakup by Country (USD Million), 2018-2022
23. Middle East and Africa Passwordless Authentication Market Forecast: Breakup by Country (USD Million), 2023-2028
24. Global Passwordless Authentication Market Structure
The market reached a value of approximately USD 14.4 billion in 2022.
The market is expected to grow at a CAGR of 15.20% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach USD 33.66 billion by 2028.
The major market drivers include increasing incidences of data breaches and cyber threats and rising demand for improved user experience.
The key trends fuelling the growth of the market include growing adoption of biometric authentication and affordable and user-friendly nature of multi-factor authentication.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The end-users of passwordless authentication include aerospace and defence, BFSI, government and law enforcement, healthcare, IT and telecom, retail, and transportation and logistics, among others.
The key players in the global passwordless authentication market are HID Global Corporation, Microsoft Corporation, Google LLC, IBM Corporation, Fujitsu Limited, NEC Corporation, Okta, Inc, Thales Group, Cisco Systems, Inc., Secret Double Octopus, and Beyond Identity,Inc, among others.
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