According to a new report published by Allied Market Research, The passwordless authentication market was valued at $12.80 billion in 2021 and is estimated to reach $40.2 billion by 2031, growing at a CAGR of 12.2% from 2022 to 2031.
The rising awareness of the application of passwordless authentication in the banking sector and the increase in penetration of consumer electronic devices has driven the growth of the market. However, the increased cost of the deployment of passwordless authentications is the prime factor restraining the market growth. On the contrary, the surge in demand for cybersecurity and the adoption of the shift in authentication processes to enhance customer experience is expected to propel the passwordless authentication market growth, during the forecast period.
Download Sample Report (Get Full Insights in PDF – 208 Pages) at: https://www.alliedmarketresearch.com/request-sample/47760
By type, in 2021, the other segment was the highest revenue contributor to the market, with a 10% impressive CAGR. However, the CARM segment is estimated to reach $9 billion by 2031, during the forecast period.
By authentication type, the multi-factor segment is estimated to dominate the Passwordless Authentication Industry, during the forecast period. However, single-factor segments are expected to witness the fastest-growing CAGRs, respectively, during the forecast period respectively.
Region-wise, North America held a significant global passwordless authentication market share, due to the region’s increasing demand for enhanced end-user services, U.S. and Canada currently dominate the regional market for North America.
For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/47760
The main drivers of the growth of the passwordless authentication market in this region are the rapid advancements in increased penetration of consumer electronic devices, growing advancement in technologies such as the internet of things (IoT) and artificial intelligence, and rising awareness of the application of passwordless authentication in the banking sector.
Moreover, rapid urbanization and increasing demand for passwordless authentication in mobile applications due to the rise of data security concerns are the primary factors that drive the growth of the passwordless authentication market in Asia-Pacific, North America, Europe, and LAMEA.
Key players profiled in the report include A Google LLC, Microsoft Corporation, IBM Corporation, NEC Corporation, Thales Group, Okta, Fujitsu Limited, Cognitec Systems GmbH, HID Global Corporation, and Secret Double Octopus (SDO). Market players have adopted various strategies, such as product launches, collaboration & partnership, joint ventures, and acquisition to expand their foothold in the Passwordless Authentication Market.
For Report Customization: https://www.alliedmarketresearch.com/request-for-customization/47760
KEY FINDINGS OF THE STUDY
- This study comprises an analytical depiction of the passwordless authentication market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall passwordless authentication market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current passwordless authentication market forecast is quantitatively analyzed from 2021 to 2031 to benchmark financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the passwordless authentication Industry.
The COVID-19 outbreak had positively impacted the growth of the passwordless authentication market, due to the increasing application of various technologies such as artificial intelligence (AI) and the internet of things (IoT) in electronic devices like smartphones, tablets, and other smart devices. In addition, since cases of data theft have increased globally, passwordless authentication has grown in popularity. Therefore, to lower the danger of data theft, existing devices can be secured utilizing passwordless authentication methods like fingerprint sensors and facial recognition. As a result, the need for passwordless authentication rose during the COVID -19 pandemic.
Buy this Report at: https://www.alliedmarketresearch.com/checkout-final/7333c2b35e0b35e5099df2ca5f137895
Thanks for reading this article; you can also get individual chapter-wise sections or region-wise report versions like North America, Europe, or Asia.
If you have any special requirements, please let us know and we will offer you the report as per your requirements.
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Wi
Toll-Free: 1-800-792-5285
UK: +44-845-528-1300n Sivers Drive
#205, Portland, OR 97220
United States
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter