Passwordless Authentication Market Segmentation and Opportunities: In-Depth Market Research

The global passwordless authentication market size is expected to reach USD 68.50 Billion in 2032 and register a steady revenue CAGR of 26.3% over the forecast period, according to the latest analysis by Emergen Research. Increasing need for innovative user convenience is driving the market revenue growth. The usage of weak passwords or practice of repeating passwords across several accounts can result from the strain that conventional password-based authentication places on users. Multiple password management becomes inefficient and difficult to remember. In addition, employees frequently find it difficult to change a forgotten password. Passwordless solutions, on the other hand, provide a simplified login procedure that improves user-friendliness and reduces user friction. Password-less authentication frees users from having to create and remember their passwords. Instead, people can confirm their identity using techniques such as email, phone, or biometrics which is driving revenue growth of the market.

The Global Passwordless Authentication Market Market Research Report added by Emergen Research to its expanding repository is an all-inclusive document containing insightful data about the Passwordless Authentication Market market and its key elements. The report is formulated through extensive primary and secondary research and is curated with an intent to offer the readers and businesses a competitive edge over other players in the industry.

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Effect of COVID-19 on the global market for Passwordless Authentication Market

The COVID-19 pandemic had a significant negative influence on the market for Passwordless Authentication Market in 2020, significantly decreasing its CAGR. In 2020, manufacturers and suppliers of Passwordless Authentication Market were significantly impacted by federal and national safety and legal orders. The majority of businesses have been impacted by the COVID-19 pandemic. Mandates for business closures, restricted municipal and state government office activities, and social conventions of distance had an impact on the production of Passwordless Authentication Market in 2020. Additionally, demand for Passwordless Authentication Market decreased across a range of end-use sectors. The pandemic epidemic also resulted in a decline in global investments in the water sector.

Passwordless Authentication Market market : Competitive Landscape

The prominent players operating in the Passwordless Authentication Market market are profiled in-depth in the report and their strategies, collaborations, and product innovations. The analysis of the key players and their strategies to fortify their presence in the market impart a better understanding of the competitive landscape of the Passwordless Authentication Market market .

HID Global Corporation, NEC Corporation, Microsoft, Fujitsu, Okta, Duo, Thales, Beyond Identity, Entrust Corporation, Ping Identity

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the Global Passwordless Authentication Market Market Research Report provides forecasts and future market projections, equipping businesses with the necessary tools to plan ahead. The report’s forward-looking approach, backed by data-driven predictions, ensures that companies can navigate the evolving market landscape with confidence. Through a combination of current market analysis and future outlook, the report serves as an invaluable resource for businesses aiming for long-term success.

Based on types, the market is segmented into

• Offering Outlook (Revenue, USD Billion; 2019–2032)

  • Hardware
  • Software
  • Service

• Authentication Method Outlook (Revenue, USD Billion; 2019–2032)

  • Biometric Authentication
  • Token-Based Authentication
  • Magic links
  • Email or SMS-Based Authentication

• Type Outlook (Revenue, USD Billion; 2019–2032)

  • Single-factor authentication
  • Multi-factor authentication

Regional Outlook :

The growth of the Passwordless Authentication Market Market on a global scale is influenced by region-specific dynamics. North America and Europe lead with technological innovation and solid regulatory environments, though supply chain challenges and compliance issues are present. In the Asia-Pacific region, especially in China and India, rapid urbanization and heightened consumer demand are fueling expansion. Meanwhile, emerging markets in Latin America, the Middle East, and Africa present growth potential, driven by economic reform and investment, yet face significant obstacles in the form of political instability and underdeveloped infrastructure.

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