Global Passwordless Authentication Market – Industry Trends and Forecast to 2031

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Passwordless Authentication Market Analysis and Size

The increasing need for improving safety and security across various residential and commercial sectors, growing penetration of smart home solutions, high adoption of Internet of Things technology, an increasing number of terrorist attacks and organized crimes globally, growth in awareness regarding home security systems and technological advancements are the major factors that are projected to positively affect the market.

Data Bridge Market Research analyzes that the global passwordless authentication market was valued at USD 12,945.30 million in 2023 and is expected to reach USD 83,288.9 mllion by 2031, registering a CAGR of 26.2% during the forecast period of 2024-2031. Authentication System segments accounts the highest market share due to the increasing usage of software as a services tools among the consumer. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation

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Market Definition

Paswordless Authentication refers to a type of instrument in which a mechanism permits or nullifies the privilege to get some information or perform some activity to enhance security by allowing an individual to modify the security protocols for the database and simultaneously control user access. These solutions are based on storing the identity of a person either by biometrics or access card. They verify the same to provide access to a particular area in the enterprise. It assists in preventing unauthorized viruses and hackers from misusing personal information and safeguards personal data from getting hacked.

Global Passwordless Authentication Market Dynamics

Drivers

• Increasing need for improving safety and security across various residential and commercial sector

The safety and well-being of your employees are important enough reasons to establish a safety program in the workplace, but there are other business benefits to starting a safety program and sticking to it. There are several devices and tools which can be installed in both commercial and residential to ensure the security. However, there is moderate increase in the crime rate across the globe. This is expected to create the demand for access control for improving the safety and security across residential and commercial sector.

• Rapid developments in cloud computing and access control 

The rapid development of network platforms, cloud computing technology is widely used in computer management systems. At the same time, it also brings various cloud security issues. In order to solve cloud security problems and protect cloud resources, cloud computing access needs to be set up the control technology. This article will briefly introduce the basic concepts of cloud computing, discuss cloud computing security management issues, analyze cloud computing access control technologies in traditional mode, and discuss about the access control technologies in cloud environments.

Opportunity

• Rise in the usage of the systems as a security for both employers and employee

A safety culture is a general approach for the organization’s safety management. It blends an effort made by groups and individuals regarding attitudes, proficiency, values and goals of a company’s safety program. Companies with a culture of safety demonstrate a strong concern for their employees’ safety and well-being. The safety culture must be pervasive throughout all departments and levels. Management needs to be observant of the atmosphere by spending time all around their facilities. They will need to monitor procedures and positively reinforce company guidelines and values. This will create a better opportunity for the usage of access control system in companies and enhances the security for both employers and employee.

Restraint/Challenge

• Low awareness regarding the availability and benefits of advanced security solutions

Security awareness training is a formal process for educating the employees and business partners. Furthermore, they will promote the usage of security solutions among the customers for the end use. Moreover, it is very necessary to understand the application of advance security solutions in daily life. The knowledge has to be provided to the users to understand the benefits and scope of the solutions. As most of the users or the professionals are not aware of the solutions. Hence, this could be a major restraining factor for the market.

This passwordless authentication market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth

 Recent Developments

• In June 2023, Thales announced the acquisition of Tesserent o accelerate its cybersecurity development roadmap. This acquisition will help the company to provide a full suite of cyber security solutions and services to medium and enterprise-level organizations. Furthermore, this will provide business expansion in Australia and New Zealand at a time when the market is expecting double-digit growth through to 2026
• In April 2023, Honeywell International Inc. announced launch of the Morley-IAS Max fire detection and alarm system that helps improve building and occupant safety. This has enhanced the product portfolio and attracts new customers to accelerate the revenue growth for the company

Global Passwordless Authentication Market Scope

The market is segmented on the basis of technology, component, vertical and service. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Technology

• Authentication System
• Detection Systems
• Alarm Panels
• Communication Devices
• Perimeter Security Systems

Component

• Hardware
• Software

Vertical

• Commercial
• Military and Defense
• Government
• Others

Service

• Installation and Integration
• Maintenance and Support
• Access Control as a Service (ACaaS)

 The Global Passwordless Authentication MarketRegion Analysis/Insights

The market is analyzed and market size insights and trends are provided by country, technology, component, vertical and service as referenced above.

The countries covered in the market report are U.S., Canada, Mexico, Brazil, Argentina, rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, rest of Middle East and Africa.

North America dominates the market due to the increasing cyber and malware attacks, the presence of several governments and security agencies, the shifting from passwords to biometric authentication, and the deployment of cloud-based IAM. 

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data

Semiconductor Infrastructure growth Installed base and New Technology Penetration

The global passwordless authentication market also provides you with a detailed market analysis for every region’s growth in healthcare expenditure for capital equipment, installed base of different kinds of products for the global artificial intelligence in marketing market, the impact of technology using lifeline curves, and changes in battery regulatory scenarios and their impact on the variable frequency drive market. The data is available for the historic period 2010-2020.

Competitive Landscape and Global Passwordless Authentication Market Share Analysis

The global passwordless authentication market is analyzed, and market size information is provided by country, product type & application. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the global internet backbone services

Some of the major players operating in the global passwordless authentication market are:

• SSA ABLOY (Sweden)
• Johnson Controls (U.S.)
• dormakaba Group (Germany)
• Allegion plc (Ireland)
• Honeywell International Inc. (U.S.)
• Nedap N.V. (Netherlands)
• Identiv, Inc. (U.S.)
• SUPREMA (South Korea
• IDEMIA (France)
• Thales (France)
• AMAG Technology (U.S.)
• Gunnebo AB (Sweden)
• NEC Corporation (Japan)
• Napco Security Technologies, Inc. (U.S.)
• HID Global Corporation (U.S.)
• Vanderbilt Industries (Germany)

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