Global Passwordless Authentication Market by Offering (Hardware, Software, and Services), Motility (Fixed/Rack Mounted, and Mobile/Portable), Authentication Type (Single-factor, Multi-factor), End-Use Industry and Region

The global passwordless authentication market size is estimated to be USD 6.6 billion in 2022 and is projected to reach USD 21.2 billion by 2027, at a Compound

Annual Growth Rate (CAGR) of 26.2% during the forecast period

Some factors driving market expansion include a lower overall cost of ownership, robust security with fewer breaches, and enhanced user experiences. However, the higher cost of deployment and reluctance to move from a traditional password-based approach to passwordless authentication solutions are expected to hinder market growth.

By motility, fixed/rack mounted to grow at higher CAGR during the forecast period

The passwordless authentication industry has been segmented into two segments based on motility: fixed/rack mounted and mobile/portable. Fixed/rack mounted devices can be deployed at a single location to authenticate a large number of users. A tamper-resistant hardware device that is fixed or rack-mounted may incorporate smart cards and sensors. To validate user identification, these devices rely on physical attributes, such as a fingerprint, face patterns, or iris or retinal patterns. Such devices are improving the user experience by automating and supporting identity management on the user side. Thus, Fixed/Rack Mounted is anticipated to grow at the highest CAGR during the forecast period.

By end-use industry, BFSI industry accounts for the largest market size during the forecast period

Among the industries embracing biometrics technology, banking and finance confront key security concerns, such as fraud and hacking. The BFSI industry is witnessing a rise in the frequency of bank employee frauds and customer queries about changing passwords to access their accounts, generating demand for biometric solutions. This technology is gaining popularity due to its dependability, precision, and low cost. Passwordless authentication technologies provide financial institutions with a competitive edge as clients continue to seek greater fraud and identity theft protection. Thus, the BFSI industry is opting for passwordless authentication solutions, generating a larger market share.

By offering, the hardware segment to grow at the largest market size during the forecast period

The hardware offering of the passwordless authentication market includes security identifying and authentication devices, including cameras, scanners, and readers. Such machines employ automated techniques of authenticating or identifying an individual based on a physiological or behavioral attribute of a human being. The high-end security provided by these hardware devices along with enhanced user experience is the primary reason for their popularity and hence is gaining the highest market share.

Breakdown of primaries:

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the passwordless authentication market.

By company type: Tier 1: 40%, Tier 2: 35%, and Tier 3: 25%
By designation: C-level: 40%, Directors: 35% and others: 25%
By region: North America: 30%, APAC: 45%, Europe: 20%, Rest of World (RoW): 5%

Major vendors in the global passwordless authentication market include HID Global (US), NEC (Japan), Microsoft (US), Fujitsu (Japan), Okta (US), Duo Security (US), Thales (France), Beyond Identity (US), Entrust (US), Ping Identity (US), Veridium (UK), OneLogin (US), IBM (US), Yubico (US), Secret Double Octopus (Israel), LogMeOnce (US), Trusona (US), LastPass (US), IDEE (Germany), Prove (US), HYPR (US), Authentiq (UK), BehavioSec (US), Stytch (US), Signicat (Norway), Ubisecure (UK), EmpowerID (US), 1Kosmos (US), Identite (US), Cidaas (Germany), Keyless (US), and PureID (UK).
The study includes an in-depth competitive analysis of the key players in the passwordless authentication market, their company profiles, recent developments, and key market strategies.

Research Coverage

The report segments the passwordless authentication market and forecasts its size by offering (hardware, software, and services), motility (fixed/rack mounted, mobile/portable), authentication type (single-factor authentication, multi-factor authentication), end-use industry (BFSI, IT and ITeS, government and law enforcement, healthcare, manufacturing, retail and consumer electronics, travel and hospitality, and others), and region (North America, Europe, Middle East and Africa, Asia Pacific, and Latin America).

The study also includes an in-depth competitive analysis of the market's key players, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key benefits of buying report

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall passwordless authentication market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.

1 Introduction

1.1 Study Objectives
1.2 Market Definition
1.2.1 Inclusions and Exclusions
1.3 Study Scope
1.3.1 Market Segmentation
1.3.2 Regions Covered
1.4 Years Considered
1.5 Currency Considered
Table 1 USD Exchange Rates, 2018-2021
1.6 Stakeholders

2 Research Methodology

2.1 Research Data
Figure 1 Passwordless Authentication Market: Research Design
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakdown of Primary Interviews
2.1.2.2 Key Industry Insights
2.2 Data Triangulation
Figure 2 Market: Research Flow
2.3 Market Size Estimation
Figure 3 Passwordless Authentication Market: Top Down vs. Bottom Up
2.3.1 Revenue Estimates
2.3.2 Supply-Side Analysis
Figure 4 Market Size Estimation Methodology - Approach 1 (Supply Side Analysis): Revenue of Solutions/Services of Passwordless Authentication Vendors
Figure 5 Market Size Estimation Methodology - Approach 2, Supply-Side Analysis
Figure 6 Market Size Estimation Methodology - Approach 3, Bottom-Up (Supply Side): Collective Revenue from All Solutions and Services of Passwordless Authentication Vendors
2.3.3 Demand-Side Analysis
Figure 7 Market Size Estimation Methodology - Approach 1, Top-Down (Demand Side)
2.4 Market Forecast
Table 2 Factor Analysis
2.5 Research Assumptions
Table 3 Study Assumptions
2.6 Limitations and Risk Assessment
Figure 8 Limitations of Study

3 Executive Summary

Table 4 Passwordless Authentication Market and Growth Rate, 2016-2021 (USD Million, Y-O-Y %)
Table 5 Market and Growth Rate, 2022-2027 (USD Million, Y-O-Y %)
Figure 9 North America to Account for Largest Market Share in 2022

4 Premium Insights

4.1 Attractive Opportunities for Players in Passwordless Authentication Market
Figure 10 Need for Compliance Automation and Frictionless Authentication to Drive Growth of Market
4.2 Market, by Offering
Figure 11 Hardware Segment to Account for Larger Market Share During Forecast Period
4.3 Market, by Authentication Type
Figure 12 Multi-Factor Authentication to Gain Larger Market Share During Forecast Period
4.4 Market, by Motility
Figure 13 Mobile/Portable to Account for Larger Market Share During Forecast Period
4.5 Market, by End-use Industry and Region
Figure 14 Bfsi and North America to Account for Significant Share in 2022
4.6 Market Investment Scenario
Figure 15 Asia-Pacific to Emerge as Best Market for Investment in the Next Five Years

5 Market Overview and Industry Trends

5.1 Introduction
5.2 Market Dynamics
Figure 16 Passwordless Authentication Market: Drivers, Restraints, Opportunities, and Challenges
5.2.1 Drivers
5.2.1.1 Need to Reduce IT Costs
5.2.1.2 Need to Strengthen Security and Reduce Attack Vectors
Figure 17 Cost of Data Breaches, by Initial Attack Vector
5.2.1.3 Increasing Demand for Better User Experience
5.2.2 Restraints
5.2.2.1 High Initial Deployment Cost
5.2.3 Opportunities
5.2.3.1 Boost in Use of Biometric Authentication Systems
5.2.3.2 Growing Adoption of Adaptive Authentication
Figure 18 Risk Detection by Adaptive Authentication
5.2.4 Challenges
5.2.4.1 Security Limitations and Weaknesses
5.2.4.2 Reluctance of People to Shift from Traditional Password-based Authentication
5.3 Case Study Analysis
5.3.1 Case Study 1: Hypr Saved Aetna from “The Password Armageddon”
5.3.2 Case Study 2: Duo Security Helped Aha! Enhance Customer Security
5.3.3 Case Study 3: Microsoft's ‘Windows Hello’ Provided Axiata with Elevated Worker Ease and Tighter Cybersecurity
5.4 Value Chain Analysis
Figure 19 Passwordless Authentication Market: Value Chain
5.5 Ecosystem Analysis
Figure 20 Market Ecosystem
5.6 Porter's Five Forces Analysis
Table 6 Market: Porter's Five Forces Analysis
5.6.1 Threat of New Entrants
5.6.2 Threat of Substitutes
5.6.3 Bargaining Power of Suppliers
5.6.4 Bargaining Power of Buyers
5.6.5 Competitive Rivalry Within Industry
Figure 21 Market: Porter's Five Forces Analysis:
5.7 Pricing Analysis
Table 7 Passwordless Authentication Market: Pricing Levels
5.8 Technology Analysis
5.8.1 Artificial Intelligence and Machine Learning
5.8.2 Public-Key Cryptography
Figure 22 Public-Key Cryptography Model
5.8.3 Decentralized Authentication
5.8.4 Biometric Authentication
5.8.4.1 Facial Recognition
5.8.4.2 3D Face Recognition
5.8.4.3 Finger Vein Recognition
5.8.4.4 Iris Recognition
5.8.4.5 Voice Recognition
5.9 Patent Analysis
Table 8 Passwordless Authentication Market: Patents
Table 9 Top 10 Patent Owners (US)
Figure 23 Top 10 Companies with Highest Number of Patents
5.10 Trends/Disruptions Impacting Buyers
Figure 24 Market: Trends/Disruptions Impacting Buyers
5.11 Tariff and Regulatory Landscape
5.11.1 Introduction
5.11.2 Payment Card Industry Data Security Standard (Pci-Dss)
5.11.3 International Organization for Standardization (Iso) 27001
5.11.4 European Union General Data Protection Regulation (Eu Gdpr)
5.11.5 Service Organization Control 2 (Soc 2) Compliance
5.11.6 Sarbanes-Oxley (Sox) Act
5.11.7 Electronic Identification, Authentication, and Trust Services
5.11.8 Know Your Customer Regulation
5.11.9 Anti-Money Laundering Act
5.12 Key Stakeholders and Buying Criteria
5.12.1 Key Stakeholders in Buying Process
Figure 25 Influence of Stakeholders in Buying Process (%)
Table 10 Influence of Stakeholders on Buying Process (%)
5.13 Key Conferences and Events, 2022-2023
Table 11 Detailed List of Conferences and Events

6 Passwordless Authentication Market, by Type

6.1 Introduction
6.2 Fingerprint Recognition
6.3 Palm and Vein Recognition
6.4 Iris Recognition
6.5 Face Recognition
6.6 Voice Print Analysis
6.7 Smart Cards and Security Keys
6.8 Other Types

7 Passwordless Authentication Market, by Offering

7.1 Introduction
7.1.1 Offerings: Password Authentication Market Drivers
Figure 26 Services to Grow at Highest Rate During by 2027
Table 12 Market, by Offering, 2016-2021 (USD Million)
Table 13 Market, by Offering, 2022-2027 (USD Million)
7.2 Hardware
7.2.1 Hardware Security Identification and Authentication Devices Use Automated Methods to Verify Identity
Table 14 Hardware: Market, by Region, 2016-2021 (USD Million)
Table 15 Hardware: Market, by Region, 2022-2027 (USD Million)
7.3 Software
7.3.1 Rising Need for Frictionless UI and Enhanced Software Experience
Table 16 Software: Market, by Region, 2016-2021 (USD Million)
Table 17 Software: Market, by Region, 2022-2027 (USD Million)
7.4 Services
7.4.1 Growing Demand for Passwordless Authentication Services in SMEs
Table 18 Services: Market, by Region, 2016-2021 (USD Million)
Table 19 Services: Market, by Region, 2022-2027 (USD Million)

8 Passwordless Authentication Market, by Authentication Type

8.1 Introduction
8.1.1 Authentication Types: Market Drivers
Figure 27 Multi-Factor Authentication to Grow at a Higher Rate by 2027
Table 20 Market, by Authentication Type, 2016-2021 (USD Million)
Table 21 Market, by Authentication Type, 2022-2027 (USD Million)
8.2 Single-Factor Authentication (Sfa)
8.2.1 Single-Factor Authentication Mode Difficult to Fake
Table 22 Single-Factor Authentication: Market, by Region, 2016-2021 (USD Million)
Table 23 Single-Factor Authentication: Market, by Region, 2022-2027 (USD Million)
8.3 Multi-Factor Authentication
8.3.1 Added Security Layer Provides Protection Against Theft and Fraud
Table 24 Multi-Factor Authentication: Market, by Region, 2016-2021 (USD Million)
Table 25 Multi-Factor Authentication: Market, by Region, 2022-2027 (USD Million)

9 Passwordless Authentication Market, by Motility

9.1 Introduction
9.1.1 Motilities: Market Drivers
Figure 28 Fixed/Rack Mounted to Witness Higher Growth by 2027
Table 26 Market, by Motility, 2016-2021 (USD Million)
Table 27 Market, by Motility, 2022-2027 (USD Million)
9.2 Fixed/Rack Mounted
9.2.1 Growing Need to Strengthen User Experience and Facilitate Automation
Table 28 Fixed/Rack Mounted: Market, by Region, 2016-2021 (USD Million)
Table 29 Fixed/Rack Mounted: Market, by Region, 2022-2027 (USD Million)
9.3 Mobile/Portable
9.3.1 Fingerprint Sensors and Iris Recognition Technology to Improve Mobile Authentication Capabilities
Table 30 Mobile/Portable: Market, by Region, 2016-2021 (USD Million)
Table 31 Mobile/Portable: Market, by Region, 2022-2027 (USD Million)

10 Passwordless Authentication Market, by End-use Industry

10.1 Introduction
10.1.1 End-use Industries: Market Drivers
Figure 29 Bfsi to Account for Largest Market by 2027
Table 32 Market, by End-use Industry, 2016-2021 (USD Million)
Table 33 Market, by End-use Industry, 2022-2027 (USD Million)
10.2 Banking, Financial Services, and Insurance (Bfsi)
10.2.1 Contactless Biometrics to Improve Customer Service
Table 34 Bfsi: Market, by Region, 2016-2021 (USD Million)
Table 35 Bfsi: Market, by Region, 2022-2027 (USD Million)
10.3 Information Technology (IT) and Information Technology-Enabled Services (Ites)
10.3.1 Increased Attacks and Data Breaches to Drive Use of Authentication Solutions in IT Sector
Table 36 IT and Ites: Market, by Region, 2016-2021 (USD Million)
Table 37 IT and Ites: Market, by Region, 2022-2027 (USD Million)
10.4 Government and Law Enforcement
10.4.1 Rising Demand for Passwordless Authentication to Enhance National Security
Table 38 Government and Law Enforcement: Passwordless Authentication Market, by Region, 2016-2021 (USD Million)
Table 39 Government and Law Enforcement: Market, by Region, 2022-2027 (USD Million)
10.5 Healthcare
10.5.1 Increasing Need for Passwordless Authentication to Improve Patient Care
Table 40 Healthcare: Market, by Region, 2016-2021 (USD Million)
Table 41 Healthcare: Market, by Region, 2022-2027 (USD Million)
10.6 Manufacturing
10.6.1 Passwordless Authentication to Reduce Operational Losses in Manufacturing Companies
Table 42 Manufacturing: Market, by Region, 2016-2021 (USD Million)
Table 43 Manufacturing: Market, by Region, 2022-2027 (USD Million)
10.7 Travel and Hospitality
10.7.1 Growing Need to Enhance Security at Major Public Places
Table 44 Travel and Hospitality: Market, by Region, 2016-2021 (USD Million)
Table 45 Travel and Hospitality: Market, by Region, 2022-2027 (USD Million)
10.8 Retail and Consumer Electronics
10.8.1 Rising Demand for Passwordless Authentication for Smooth Retail Purchases
Table 46 Retail and Consumer Electronics: Passwordless Authentication Market, by Region, 2016-2021 (USD Million)
Table 47 Retail and Consumer Electronics: Market, by Region, 2022-2027 (USD Million)
10.9 Other End-use Industries
Table 48 Other End-use Industries: Market, by Region, 2016-2021 (USD Million)
Table 49 Other End-use Industries: Market, by Region, 2022-2027 (USD Million)

11 Passwordless Authentication Market, by Region

11.1 Introduction
Figure 30 Asia-Pacific to Grow at Highest CAGR by 2027
Table 50 Market, by Region, 2016-2021 (USD Million)
Table 51 Market, by Region, 2022-2027 (USD Million)
11.2 North America
11.2.1 North America: Market Drivers
11.2.2 North America: Regulatory Landscape
Figure 31 North America: Market Snapshot
Table 52 North America: Passwordless Authentication Market, by Offering, 2016-2021 (USD Million)
Table 53 North America: Market, by Offering, 2022-2027 (USD Million)
Table 54 North America: Market, by Authentication Type, 2016-2021 (USD Million)
Table 55 North America: Market, by Authentication Type, 2022-2027 (USD Million)
Table 56 North America: Market, by Motility, 2016-2021 (USD Million)
Table 57 North America: Market, by Motility, 2022-2027 (USD Million)
Table 58 North America: Market, by End-use Industry, 2016-2021 (USD Million)
Table 59 North America: Market, by End-use Industry, 2022-2027 (USD Million)
Table 60 North America: Market, by Country, 2016-2021 (USD Million)
Table 61 North America: Market, by Country, 2022-2027 (USD Million)
11.2.3 US
11.2.3.1 High Technological Awareness with Presence of Key Vendors
Table 62 US: Passwordless Authentication Market, by Offering, 2016-2021 (USD Million)
Table 63 US: Market, by Offering, 2022-2027 (USD Million)
Table 64 US: Market, by Authentication Type, 2016-2021 (USD Million)
Table 65 US: Market, by Authentication Type, 2022-2027 (USD Million)
Table 66 US: Market, by Motility, 2016-2021 (USD Million)
Table 67 US: Market, by Motility, 2022-2027 (USD Million)
Table 68 US: Market, by End-use Industry, 2016-2021 (USD Million)
Table 69 US: Market, by End-use Industry, 2022-2027 (USD Million)
11.2.4 Canada
11.2.4.1 Huge Investments Made to Enhance Cybersecurity Needs
Table 70 Canada: Passwordless Authentication Market, by Offering, 2016-2021 (USD Million)
Table 71 Canada: Market, by Offering, 2022-2027 (USD Million)
Table 72 Canada: Market, by Authentication Type, 2016-2021 (USD Million)
Table 73 Canada: Market, by Authentication Type, 2022-2027 (USD Million)
Table 74 Canada: Market, by Motility, 2016-2021 (USD Million)
Table 75 Canada: Market, by Motility, 2022-2027 (USD Million)
Table 76 Canada: Market, by End-use Industry, 2016-2021 (USD Million)
Table 77 Canada: Market, by End-use Industry, 2022-2027 (USD Million)
11.3 Europe
11.3.1 Europe: Passwordless Authentication Market Drivers
11.3.2 Europe: Regulatory Landscape
Table 78 Europe: Market, by Offering, 2016-2021 (USD Million)
Table 79 Europe: Market, by Offering, 2022-2027 (USD Million)
Table 80 Europe: Market, by Authentication Type, 2016-2021 (USD Million)
Table 81 Europe: Market, by Authentication Type, 2022-2027 (USD Million)
Table 82 Europe: Market, by Motility, 2016-2021 (USD Million)
Table 83 Europe: Market, by Motility, 2022-2027 (USD Million)
Table 84 Europe: Market, by End-use Industry, 2016-2021 (USD Million)
Table 85 Europe: Market, by End-use Industry, 2022-2027 (USD Million)
Table 86 Europe: Market, by Country, 2016-2021 (USD Million)
Table 87 Europe: Market, by Country, 2022-2027 (USD Million)
11.3.3 UK
11.3.3.1 Rising Investments in Passwordless Technologies and Industry Standards, Such as Fido
Table 88 UK: Passwordless Authentication Market, by Offering, 2016-2021 (USD Million)
Table 89 UK: Market, by Offering, 2022-2027 (USD Million)
Table 90 UK: Market, by Authentication Type, 2016-2021 (USD Million)
Table 91 UK: Market, by Authentication Type, 2022-2027 (USD Million)
Table 92 UK: Market, by Motility, 2016-2021 (USD Million)
Table 93 UK: Market, by Motility, 2022-2027 (USD Million)
Table 94 UK: Market, by End-use Industry, 2016-2021 (USD Million)
Table 95 UK: Market, by End-use Industry, 2022-2027 (USD Million)
11.3.4 Germany
11.3.4.1 Establishing of German Identity Card as National Eid
Table 96 Germany: Passwordless Authentication Market, by Offering, 2016-2021 (USD Million)
Table 97 Germany: Market, by Offering, 2022-2027 (USD Million)
Table 98 Germany: Market, by Authentication Type, 2016-2021 (USD Million)
Table 99 Germany: Market, by Authentication Type, 2022-2027 (USD Million)
Table 100 Germany: Market, by Motility, 2016-2021 (USD Million)
Table 101 Germany: Market, by Motility, 2022-2027 (USD Million)
Table 102 Germany: Market, by End-use Industry, 2016-2021 (USD Million)
Table 103 Germany: Market, by End-use Industry, 2022-2027 (USD Million)
11.3.5 France
11.3.5.1 Increased Digitalization and Strict Government Regulations
Table 104 France: Passwordless Authentication Market, by Offering, 2016-2021 (USD Million)
Table 105 France: Market, by Offering, 2022-2027 (USD Million)
Table 106 France: Market, by Authentication Type, 2016-2021 (USD Million)
Table 107 France: Market, by Authentication Type, 2022-2027 (USD Million)
Table 108 France: Market, by Motility, 2016-2021 (USD Million)
Table 109 France: Market, by Motility, 2022-2027 (USD Million)
Table 110 France: Market, by End-use Industry, 2016-2021 (USD Million)
Table 111 France: Market, by End-use Industry, 2022-2027 (USD Million)
11.3.6 Rest of Europe
Table 112 Rest of Europe: Passwordless Authentication Market, by Offering, 2016-2021 (USD Million)
Table 113 Rest of Europe: Market, by Offering, 2022-2027 (USD Million)
Table 114 Rest of Europe: Market, by Authentication Type, 2016-2021 (USD Million)
Table 115 Rest of Europe: Market, by Authentication Type, 2022-2027 (USD Million)
Table 116 Rest of Europe: Market, by Motility, 2016-2021 (USD Million)
Table 117 Rest of Europe: Market, by Motility, 2022-2027 (USD Million)
Table 118 Rest of Europe: Market, by End-use Industry, 2016-2021 (USD Million)
Table 119 Rest of Europe: Market, by End-use Industry, 2022-2027 (USD Million)
11.4 Asia-Pacific
11.4.1 Asia-Pacific: Market Drivers
11.4.2 Asia-Pacific: Regulatory Landscape
Figure 32 Asia-Pacific: Market Snapshot
Table 120 Asia-Pacific: Passwordless Authentication Market, by Offering, 2016-2021 (USD Million)
Table 121 Asia-Pacific: Market, by Offering, 2022-2027 (USD Million)
Table 122 Asia-Pacific: Market, by Authentication Type, 2016-2021 (USD Million)
Table 123 Asia-Pacific: Market, by Authentication Type, 2022-2027 (USD Million)
Table 124 Asia-Pacific: Market, by Motility, 2016-2021 (USD Million)
Table 125 Asia-Pacific: Market, by Motility, 2022-2027 (USD Million)
Table 126 Asia-Pacific: Market, by End-use Industry, 2016-2021 (USD Million)
Table 127 Asia-Pacific: Market, by End-use Industry, 2022-2027 (USD Million)
Table 128 Asia-Pacific: Market, by Country, 2016-2021 (USD Million)
Table 129 Asia-Pacific: Market, by Country, 2022-2027 (USD Million)
11.4.3 China
11.4.3.1 Increasing Implementation of Digital Authentication Solutions in Various Segments Coupled with Stringent Government Laws
Table 130 China: Passwordless Authentication Market, by Offering, 2016-2021 (USD Million)
Table 131 China: Market, by Offering, 2022-2027 (USD Million)
Table 132 China: Market, by Authentication Type, 2016-2021 (USD Million)
Table 133 China: Market, by Authentication Type, 2022-2027 (USD Million)
Table 134 China: Market, by Motility, 2016-2021 (USD Million)
Table 135 China: Market, by Motility, 2022-2027 (USD Million)
Table 136 China: Market, by End-use Industry, 2016-2021 (USD Million)
Table 137 China: Market, by End-use Industry, 2022-2027 (USD Million)
11.4.4 Japan
11.4.4.1 Technological Advancements and High Awareness Regarding Cybercrime
Table 138 Japan: Passwordless Authentication Market, by Offering, 2016-2021 (USD Million)
Table 139 Japan: Market, by Offering, 2022-2027 (USD Million)
Table 140 Japan: Market, by Authentication Type, 2016-2021 (USD Million)
Table 141 Japan: Market, by Authentication Type, 2022-2027 (USD Million)
Table 142 Japan: Market, by Motility, 2016-2021 (USD Million)
Table 143 Japan: Market, by Motility, 2022-2027 (USD Million)
Table 144 Japan: Market, by End-use Industry, 2016-2021 (USD Million)
Table 145 Japan: Market, by End-use Industry, 2022-2027 (USD Million)
11.4.5 India
11.4.5.1 Implementation of Government Policies to Promote Use of Technology
Table 146 India: Passwordless Authentication Market, by Offering, 2016-2021 (USD Million)
Table 147 India: Market, by Offering, 2022-2027 (USD Million)
Table 148 India: Market, by Authentication Type, 2016-2021 (USD Million)
Table 149 India: Market, by Authentication Type, 2022-2027 (USD Million)
Table 150 India: Market, by Motility, 2016-2021 (USD Million)
Table 151 India: Market, by Motility, 2022-2027 (USD Million)
Table 152 India: Market, by End-use Industry, 2016-2021 (USD Million)
Table 153 India: Market, by End-use Industry, 2022-2027 (USD Million)
11.4.6 Rest of Asia-Pacific
Table 154 Rest of Asia-Pacific: Passwordless Authentication Market, by Offering, 2016-2021 (USD Million)
Table 155 Rest of Asia-Pacific: Market, by Offering, 2022-2027 (USD Million)
Table 156 Rest of Asia-Pacific: Market, by Authentication Type, 2016-2021 (USD Million)
Table 157 Rest of Asia-Pacific: Market, by Authentication Type, 2022-2027 (USD Million)
Table 158 Rest of Asia-Pacific: Market, by Motility, 2016-2021 (USD Million)
Table 159 Rest of Asia-Pacific: Market, by Motility, 2022-2027 (USD Million)
Table 160 Rest of Asia-Pacific: Market, by End-use Industry, 2016-2021 (USD Million)
Table 161 Rest of Asia-Pacific: Market, by End-use Industry, 2022-2027 (USD Million)
11.5 Middle East and Africa
11.5.1 Middle East and Africa: Passwordless Authentication Market Drivers
11.5.2 Middle East and Africa: Regulatory Landscape
Table 162 Middle East and Africa: Market, by Offering, 2016-2021 (USD Million)
Table 163 Middle East and Africa: Market, by Offering, 2022-2027 (USD Million)
Table 164 Middle East and Africa: Market, by Authentication Type, 2016-2021 (USD Million)
Table 165 Middle East and Africa: Market, by Authentication Type, 2022-2027 (USD Million)
Table 166 Middle East and Africa: Market, by Motility, 2016-2021 (USD Million)
Table 167 Middle East and Africa: Market, by Motility, 2022-2027 (USD Million)
Table 168 Middle East and Africa: Market, by End-use Industry, 2016-2021 (USD Million)
Table 169 Middle East and Africa: Market, by End-use Industry, 2022-2027 (USD Million)
Table 170 Middle East and Africa: Market, by Country, 2016-2021 (USD Million)
Table 171 Middle East and Africa: Market, by Country, 2022-2027 (USD Million)
11.5.3 Middle East
11.5.3.1 Government's Agility in Adopting Modern Technologies
Table 172 Middle East: Passwordless Authentication Market, by Offering, 2016-2021 (USD Million)
Table 173 Middle East: Market, by Offering, 2022-2027 (USD Million)
Table 174 Middle East: Market, by Authentication Type, 2016-2021 (USD Million)
Table 175 Middle East: Market, by Authentication Type, 2022-2027 (USD Million)
Table 176 Middle East: Market, by Motility, 2016-2021 (USD Million)
Table 177 Middle East: Market, by Motility, 2022-2027 (USD Million)
Table 178 Middle East: Market, by End-use Industry, 2016-2021 (USD Million)
Table 179 Middle East: Market, by End-use Industry, 2022-2027 (USD Million)
11.5.4 Africa
11.5.4.1 Strong Government Initiatives to Develop Passwordless Authentication Solutions
Table 180 Africa: Passwordless Authentication Market, by Offering, 2016-2021 (USD Million)
Table 181 Africa: Market, by Offering, 2022-2027 (USD Million)
Table 182 Africa: Market, by Authentication Type, 2016-2021 (USD Million)
Table 183 Africa: Market, by Authentication Type, 2022-2027 (USD Million)
Table 184 Africa: Market, by Motility, 2016-2021 (USD Million)
Table 185 Africa: Market, by Motility, 2022-2027 (USD Million)
Table 186 Africa: Market, by End-use Industry, 2016-2021 (USD Million)
Table 187 Africa: Market, by End-use Industry, 2022-2027 (USD Million)
11.6 Latin America
11.6.1 Latin America: Passwordless Authentication Market Drivers
11.6.2 Latin America: Regulatory Landscape
Table 188 Latin America: Market, by Offering, 2016-2021 (USD Million)
Table 189 Latin America: Market, by Offering, 2022-2027 (USD Million)
Table 190 Latin America: Market, by Authentication Type, 2016-2021 (USD Million)
Table 191 Latin America: Market, by Authentication Type, 2022-2027 (USD Million)
Table 192 Latin America: Market, by Motility, 2016-2021 (USD Million)
Table 193 Latin America: Market, by Motility, 2022-2027 (USD Million)
Table 194 Latin America: Market, by End-use Industry, 2016-2021 (USD Million)
Table 195 Latin America: Market, by End-use Industry, 2022-2027 (USD Million)
Table 196 Latin America: Market, by Country, 2016-2021 (USD Million)
Table 197 Latin America: Market, by Country, 2022-2027 (USD Million)
11.6.3 Brazil
11.6.3.1 Increasing Incidence of Cybercrime
Table 198 Brazil: Passwordless Authentication Market, by Offering, 2016-2021 (USD Million)
Table 199 Brazil: Market, by Offering, 2022-2027 (USD Million)
Table 200 Brazil: Market, by Authentication Type, 2016-2021 (USD Million)
Table 201 Brazil: Market, by Authentication Type, 2022-2027 (USD Million)
Table 202 Brazil: Market, by Motility, 2016-2021 (USD Million)
Table 203 Brazil: Market, by Motility, 2022-2027 (USD Million)
Table 204 Brazil: Market, by End-use Industry, 2016-2021 (USD Million)
Table 205 Brazil: Market, by End-use Industry, 2022-2027 (USD Million)
11.6.4 Mexico
11.6.4.1 Increasing Number of Cyberattacks
Table 206 Mexico: Passwordless Authentication Market, by Offering, 2016-2021 (USD Million)
Table 207 Mexico: Market, by Offering, 2022-2027 (USD Million)
Table 208 Mexico: Market, by Authentication Type, 2016-2021 (USD Million)
Table 209 Mexico: Market, by Authentication Type, 2022-2027 (USD Million)
Table 210 Mexico: Market, by Motility, 2016-2021 (USD Million)
Table 211 Mexico: Market, by Motility, 2022-2027 (USD Million)
Table 212 Mexico: Market, by End-use Industry, 2016-2021 (USD Million)
Table 213 Mexico: Market, by End-use Industry, 2022-2027 (USD Million)
11.6.5 Rest of Latin America
Table 214 Rest of Latin America: Passwordless Authentication Market, by Offering, 2016-2021 (USD Million)
Table 215 Rest of Latin America: Market, by Offering, 2022-2027 (USD Million)
Table 216 Rest of Latin America: Market, by Authentication Type, 2016-2021 (USD Million)
Table 217 Rest of Latin America: Market, by Authentication Type, 2022-2027 (USD Million)
Table 218 Rest of Latin America: Market, by Motility, 2016-2021 (USD Million)
Table 219 Rest of Latin America: Market, by Motility, 2022-2027 (USD Million)
Table 220 Rest of Latin America: Market, by End-use Industry, 2016-2021 (USD Million)
Table 221 Rest of Latin America: Market, by End-use Industry, 2022-2027 (USD Million)

12 Competitive Landscape

12.1 Overview
12.2 Market Evaluation Framework
Figure 33 Market Evaluation Framework, 2019-2022
12.3 Strategies Adopted by Key Players/Right to Win
Table 222 Overview of Strategies Adopted by Key Passwordless Authentication Vendors
12.4 Revenue Analysis of Leading Players
Figure 34 Passwordless Authentication Market: Revenue Analysis
12.5 Market Share Analysis of Top Market Players
Table 223 Market: Degree of Competition
12.6 Historical Revenue Analysis
Figure 35 Segmental Revenue Analysis of Top Market Players, 2017-2021 (USD Million)
12.7 Password Authentication Market: Ranking of Key Players
Figure 36 Ranking of Key Players, 2022
12.8 Evaluation Matrix for Key Players
12.8.1 Evaluation Matrix for Key Players: Definitions and Methodology
Figure 37 Evaluation Quadrant for Key Players: Criteria Weightage
Figure 38 Passwordless Authentication Market: Key Player Evaluation Quadrant, 2022
12.8.2 Stars
12.8.3 Emerging Leaders
12.8.4 Pervasive Players
12.8.5 Participants
12.9 Competitive Benchmarking
12.9.1 Evaluation Criteria for Key Companies
Table 224 Company Industry Footprint
Table 225 Company Regional Footprint
12.9.2 Evaluation Criteria for Startups
Table 226 Detailed List of Startups
Table 227 Regional Footprint for Startups
12.10 Evaluation Matrix for Startups
12.10.1 Evaluation Matrix for Startups: Definitions and Methodology
Figure 39 Evaluation Quadrant for Startups: Criteria Weightage
Figure 40 Passwordless Authentication Market: Startup Evaluation Matrix, 2022
12.10.2 Progressive Companies
12.10.3 Responsive Companies
12.10.4 Dynamic Companies
12.10.5 Starting Blocks
12.11 Competitive Scenario
12.11.1 Product/Solution Launches
Table 228 Market: Product/Solution Launches, 2019-2022
12.11.2 Deals
Table 229 Passwordless Authentication Market: Deals, 2019-2022

13 Company Profiles

13.1 Key Players
(Business Overview, Solutions, Products & Services, Recent Developments, Analyst's View)*
13.1.1 Hid Global
Table 230 Hid Global: Business Overview
Table 231 Hid Global: Products/Solutions/Services Offered
Table 232 Hid Global: Product Launches
Table 233 Hid Global: Deals
13.1.2 Nec
Table 234 Nec: Business Overview
Figure 41 Nec: Company Snapshot
Table 235 Nec: Products/Solutions/Services Offered
Table 236 Nec: Product Launches
Table 237 Nec: Deals
13.1.3 Microsoft
Table 238 Microsoft: Business Overview
Figure 42 Microsoft: Company Snapshot
Table 239 Microsoft: Products/Solutions/Services Offered
Table 240 Microsoft: Product Launches
Table 241 Microsoft: Deals
13.1.4 Fujitsu
Table 242 Fujitsu: Business Overview
Figure 43 Fujitsu: Company Snapshot
Table 243 Fujitsu: Products/Solutions/Services Offered
Table 244 Fujitsu: Product Launches
Table 245 Fujitsu: Deals
13.1.5 Okta
Table 246 Okta: Business Overview
Figure 44 Okta: Company Snapshot
Table 247 Okta: Products/Solutions/Services Offered
Table 248 Okta: Product Launches
Table 249 Okta: Deals
13.1.6 Duo Security
Table 250 Duo Security: Business Overview
Table 251 Duo Security: Products/Solutions/Services Offered
Table 252 Duo Security: Product Launches
Table 253 Duo Security: Deals
13.1.7 Thales
Table 254 Thales: Business Overview
Figure 45 Thales: Company Snapshot
Table 255 Thales: Products/Solutions/Services Offered
Table 256 Thales: Product Launches
Table 257 Thales: Deals
13.1.8 Beyond Identity
Table 258 Beyond Identity: Business Overview
Table 259 Beyond Identity: Products/Solutions/Services Offered
Table 260 Beyond Identity: Product Launches
Table 261 Beyond Identity: Deals
13.1.9 Entrust
Table 262 Entrust: Business Overview
Table 263 Entrust: Products/Solutions/Services Offered
Table 264 Entrust: Product Launches
Table 265 Entrust: Deals
13.1.10 Ping Identity
Table 266 Ping Identity: Business Overview
Figure 46 Ping Identity: Company Snapshot
Table 267 Ping Identity: Products/Solutions/Services Offered
Table 268 Ping Identity: Product Launches
Table 269 Ping Identity: Deals
13.1.11 Veridium
Table 270 Veridium: Business Overview
Table 271 Veridium: Products/Solutions/Services Offered
Table 272 Veridium: Product Launches
Table 273 Veridium: Deals
13.1.12 Onelogin
Table 274 Onelogin: Business Overview
Table 275 Onelogin: Products/Solutions/Services Offered
Table 276 Onelogin: Product Launches
Table 277 Onelogin: Deals
*Details on Business Overview, Solutions, Products & Services, Recent Developments, Analyst's View Might Not be Captured in Case of Unlisted Companies.
13.2 Other Players
13.2.1 IBM
13.2.2 Yubico
13.2.3 Secret Double Octopus
13.2.4 Logmeonce
13.2.5 Trusona
13.2.6 Lastpass
13.2.7 Idee
13.2.8 Prove
13.2.9 Hypr
13.2.10 Authentiq
13.2.11 Behaviosec
13.2.12 Stytch
13.2.13 Signicat
13.2.14 Ubisecure
13.2.15 Empowerid
13.3 Startups
13.3.1 1Kosmos
13.3.2 Identite
13.3.3 Cidaas
13.3.4 Keyless
13.3.5 Pureid

14 Adjacent Markets

14.1 Introduction to Adjacent Markets
Table 278 Adjacent Markets and Forecasts
14.2 Limitations
14.3 Passwordless Authentication: Adjacent Markets
14.3.1 Contactless Biometrics Market
Table 279 Contactless Biometrics Market, by Software, 2018-2021 (USD Million)
Table 280 Contactless Biometrics Market, by Software, 2022-2027 (USD Million)
Table 281 Face Recognition Market, by Region, 2018-2021 (USD Million)
Table 282 Face Recognition Market, by Region, 2022-2027 (USD Million)
Table 283 Iris Recognition Market, by Region, 2018-2021 (USD Million)
Table 284 Iris Recognition Market, by Region, 2022-2027 (USD Million)
Table 285 Contactless Fingerprint Recognition Market, by Region, 2018-2021 (USD Million)
Table 286 Contactless Fingerprint Recognition Market, by Region, 2022-2027 (USD Million)
Table 287 Contactless Biometric Cards Market, by Region, 2018-2021 (USD Million)
Table 288 Contactless Biometric Cards Market, by Region, 2022-2027 (USD Million)
Table 289 Voice Recognition Market, by Region, 2018-2021 (USD Million)
Table 290 Voice Recognition Market, by Region, 2022-2027 (USD Million)
14.3.2 Digital Identity Solutions Market
Table 291 Digital Identity Solutions Market, by Offering, 2016-2021 (USD Million)
Table 292 Digital Identity Solutions Market, by Offering, 2022-2027 (USD Million)
Table 293 Solutions: Digital Identity Solutions Market, by Region, 2016-2021 (USD Million)
Table 294 Solutions: Digital Identity Solutions Market, by Region, 2022-2027 (USD Million)
Table 295 Services: Digital Identity Solutions Market, by Region, 2016-2021 USD Million)
Table 296 Services: Digital Identity Solutions Market, by Region, 2022-2027 (USD Million)
14.3.3 Multi-Factor Authentication Market
Table 297 Multi-Factor Authentication Market, by Model Type, 2016-2021 (USD Million)
Table 298 Multi-Factor Authentication Market, by Model Type, 2022-2027 (USD Million)
Table 299 Two-Factor: Multi-Factor Authentication Market, by Region, 2016-2021 (USD Million)
Table 300 Two-Factor: Multi-Factor Authentication Market, by Region, 2022-2027 (USD Million)
Table 301 Three-Factor: Multi-Factor Authentication Market, by Region, 2016-2021 (USD Million)
Table 302 Three-Factor: Multi-Factor Authentication Market, by Region, 2022-2027 (USD Million)
Table 303 Four-Factor: Multi-Factor Authentication Market, by Region, 2016-2021 (USD Million)
Table 304 Four-Factor: Multi-Factor Authentication Market, by Region, 2022-2027 (USD Million)
Table 305 Five-Factor: Multi-Factor Authentication Market, by Region, 2016-2021 (USD Million)
Table 306 Five-Factor: Multi-Factor Authentication Market, by Region, 2022-2027 (USD Million)

15 Appendix

15.1 Discussion Guide

Companies Mentioned

Authentiq
Behaviosec
Beyond Identity
Cidaas
Duo Security
Empowerid
Entrust
Fujitsu
Hid Global
Hypr
IBM
Idee
Identite
Keyless
Kosmos
Lastpass
Logmeonce
Microsoft
Nec
Okta
Onelogin
Ping Identity
Prove
Pureid
Secret Double Octopus
Signicat
Stytch
Thales
Trusona
Ubisecure
Veridium
Yubico

Methodology

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Table Information

Report Attribute	Details
No. of Pages	306
Published	November 2022
Forecast Period	2022 - 2027
Estimated Market Value ( USD ) in 2022	$ 6.6 Billion
Forecasted Market Value ( USD ) by 2027	$ 21.2 Billion
Compound Annual Growth Rate	26.2%
Regions Covered	Global
No. of Companies Mentioned	32

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Global Passwordless Authentication Market by Offering (Hardware, Software, and Services), Motility (Fixed/Rack Mounted, and Mobile/Portable), Authentication Type (Single-factor, Multi-factor), End-Use Industry and Region - Forecast to 2027

Annual Growth Rate (CAGR) of 26.2% during the forecast period

By motility, fixed/rack mounted to grow at higher CAGR during the forecast period

By end-use industry, BFSI industry accounts for the largest market size during the forecast period

By offering, the hardware segment to grow at the largest market size during the forecast period

Breakdown of primaries:

Research Coverage

Key benefits of buying report

Table of Contents

Companies Mentioned

Methodology

Table Information

Annual Growth Rate (CAGR) of 26.2% during the forecast period

By motility, fixed/rack mounted to grow at higher CAGR during the forecast period

By end-use industry, BFSI industry accounts for the largest market size during the forecast period

By offering, the hardware segment to grow at the largest market size during the forecast period

Breakdown of primaries:

Research Coverage

Key benefits of buying report

Table of Contents

Companies Mentioned

Methodology

Table Information

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