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Global Passwordless Authentication Market Share, Analysis, Forecast: By Component: Hardware, Software, Services; By Product Type: Fingerprint Authentication, Iris Recognition, Face Recognition, Voice Recognition, Smart Card, Others; By Authentication Type; By Portability; By End-User; Regional Analysis; Competitive Landscape; 2023-2028

Global Passwordless Authentication Market Outlook

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.

 

Key Trends in the Market

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.

 

  • The growing adoption of biometric authentication, such as fingerprint authentication or iris recognition, is a key passwordless authentication market trend propelling the growth of the market. This method of authentication provides a high level of security and is therefore being adopted by various sectors such as e-commerce, healthcare, and finance, among others.
  • The increasing frequency of cyberattacks and data breaches has fuelled the utilisation of multi-factor authentication and is bolstering the passwordless authentication market growth. Furthermore, multi-factor authentication is becoming more affordable and user friendly, increasing its utilisation by e-commerce and SaaS industries.

 

Market Analysis

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.

 

  • HID Global Corporation
  • Microsoft Corporation
  • Google LLC
  • IBM Corporation
  • Fujitsu Limited
  • NEC Corporation
  • Okta, Inc
  • Thales Group
  • Cisco Systems, Inc.
  • Secret Double Octopus
  • Beyond Identity,Inc
  • Others

 

Global Passwordless Authentication Market Share by End-User

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.

 

Global Passwordless Authentication Market Share by Region

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.

 

Competitive Landscape

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.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
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:

  • Component
  • Product Type
  • Authentication Type
  • Portability
  • End-User
  • Region
Breakup by Component
  • Hardware
  • Software
  • Services
Breakup by Product Type
  • Fingerprint Authentication
  • Iris Recognition
  • Face Recognition
  • Voice Recognition
  • Smart Card
  • Others
Breakup by Authentication Type
  • Single-Factor
  • Multi-Factor
Breakup by Portability
  • Fixed
  • Mobile
Breakup by End-User
  • Aerospace and Defence
  • BFSI
  • Government and Law Enforcement
  • Healthcare
  • IT and Telecom
  • Retail
  • Transportation and Logistics
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • HID Global Corporation
  • Microsoft Corporation
  • Google LLC
  • IBM Corporation
  • Fujitsu Limited
  • NEC Corporation
  • Okta, Inc
  • Thales Group
  • Cisco Systems, Inc.
  • Secret Double Octopus
  • Beyond Identity,Inc
  • Others

 

*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

Key Questions Answered in the Report

What was the passwordless authentication market value in 2022?

The market reached a value of approximately USD 14.4 billion in 2022.

What is the growth rate of the global passwordless authentication market?

The market is expected to grow at a CAGR of 15.20% between 2023 and 2028.

What is the global passwordless authentication market forecast for 2023-2028?

The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach USD 33.66 billion by 2028.

What are the major market drivers?

The major market drivers include increasing incidences of data breaches and cyber threats and rising demand for improved user experience.

What are the key trends of the market?

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.

What are the major regions in the market for passwordless authentication, according to the EMR report?

The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

What are the various end-users of passwordless authentication?

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.

Who are the key market players, according to the passwordless authentication market report?

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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