2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!

What Industry-Specific Factors Are Fueling the Growth of thePasswordless Authentication Market?

Growing concerns about data security are expected to accelerate the growth of the passwordless authentication market. With increasing digital connectivity and complex IT systems, data security threats are becoming more prominent. Passwordless authentication methods, including biometrics and hardware tokens, offer a more secure alternative to traditional passwords. According to the Information Commissioner’s Office in May 2024, cyber-related incidents accounted for 32.5% of personal data breaches in the past year, underscoring the rising security threats. Thus, concerns over data security are driving the growth of the passwordless authentication market.

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How Will the Growth Rate of thePasswordless Authentication Market Impact Industry Trends by 2034?

The passwordless authentication market has seen rapid growth. It is forecasted to grow from $20.07 billion in 2024 to $23.64 billion in 2025, marking a CAGR of 17.8%. This growth was driven by escalating cybersecurity concerns, widespread mobile device use, regulatory mandates, growing cloud adoption, and increased awareness of secure authentication practices.

The passwordless authentication market is expected to grow to $45.01 billion by 2029, at a CAGR of 17.5%. Growth is driven by the focus on user experience, a shift towards zero-trust security, stronger authentication needs, and regulatory emphasis on data protection. Major trends include multi-factor authentication, behavioral biometrics, continuous authentication, and innovative solutions.

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What Key Market Trends and Innovations Are Shaping the Future of thePasswordless Authentication Industry?

Companies in the passwordless authentication market are providing innovative solutions like secret location authentication to enhance security and streamline access management. Secret location authentication relies on a user’s physical location to verify their identity. For example, Center Identity, a US-based company, launched a patented secret location authentication method in April 2024, where users authenticate via a map location, using geolocation data and artificial intelligence to ensure security and ease of use, without the need for additional devices.

Which Companies Are Leading the Charge in Expanding thePasswordless Authentication Market Growth?

Major companies operating in the passwordless authentication market are Microsoft Corporation, International Business Machines Corporation (IBM), Fujitsu Limited, NEC Corporation, Thales Group, Okta Inc., HID Global Corporation, Entrust Corporation, LogMeIn Inc., Ping Identity Corporation, Duo Security LLC, Signicat AS, Prove Identity Inc., OneLogin Inc., Beyond Identity Inc., Stytch Inc., Trusona Inc., HYPR Corp., Ubisecure Limited, Secret Double Octopus Ltd., EmpowerID LLC, Veridium Ltd., IDEE GmbH, Yubico AB, LogMeOnce LLC

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How is the Global Passwordless Authentication Market Segemented?

The passwordless authentication market covered in this report is segmented –

1) By Type: Fingerprint Authentication, Palm Recognition, Iris Recognition, Face Recognition, Voice Recognition, Smart Card

2) By Component: Hardware, Software, Services

3) By Authentication Type: Single-factor Authentication, Multi-factor Authentication

4) By Portability: Fixed, Mobile

5) By End-user: IT And Telecom, Retail, Transportation And Logistics, Aerospace And Defense, BFSI, Healthcare, Government

Subsegments:

1) By Fingerprint Authentication: Optical Fingerprint Scanners, Capacitive Fingerprint Scanners, Ultrasonic Fingerprint Scanners, Thermal Fingerprint Scanners

2) By Palm Recognition: Palm Vein Recognition, Palm Print Recognition, 3D Palm Recognition

3) By Iris Recognition: Near Infrared Iris Scanning, Multimodal Iris Recognition, Mobile Iris Recognition

4) By Face Recognition: 2D Face Recognition, 3D Face Recognition, Infrared Face Recognition, Thermal Face Recognition, Facial Landmark Detection

5) By Voice Recognition: Speaker Verification, Speech-To-Text Biometrics, Voiceprint Recognition, Biometric Authentication Via Voice Assistants

6) By Smart Card: RFID Smart Cards, Smart Card With Biometrics, Contactless Smart Cards, Multi-Factor Authentication Smart Cards

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Which Geographics are Influencing the Growth of the Passwordless Authentication Market?

North America was the largest region in the passwordless authentication market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the passwordless authentication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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