The Report Passwordless Authentication Market by Component (1.Hardware 2. Software 3.Services), by Type ( 1.Fingerprint Authentication 2.Palm Recognition 3.Iris Recognition 4.Face Recognition 5.Voice Recognition 6.Smart Card ), by Authentication Type ( 1.Single-factor Authentication 2.Multi-factor Authentication) by End-user (1.IT & Telecom 2.Retail 3.Transportation & Logistics 4.Aerospace & Defense 5.BFSI 6.Healthcare 7.Government) and by Portability (1.Fixed 2.Mobile)The increasing adoption of Passwordless Authentication Market as a sustainable and high-performance material drives its market growth.

The global Passwordless Authentication Market is on track to achieve significant growth, with a projected size was valued at USD 6.5 Bn in 2022 and is expected to reach USD 23 Bn by 2029, at a CAGR of 26.3% over the forecast period (2023-2029).

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Components segment with the quickest growth

According to Components, the Hardware industry owned the greatest market share for passwordless authentication in 2022. Users use cryptographically secure hardware to perform multi-factor authentication through hardware-based security devices. It consists of mobile solutions, smart cards, tokens, and biometric systems. These programmes are used to maintain data security and compliance with international security standards.

The Yubikey Bio, the first piece of biometric authentication enabling passwordless logins and multifactor authentication, was unveiled by Yubico in October 2021. A fingerprint reader is built inside the key enabling password-free authentication.

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Fingerprint Authentication, Palm Recognition, Iris Recognition, Face Recognition, Voice Recognition and Smart Card segments based on the type of Type in Passwordless Authentication Market

The category for fingerprint authentication, which accounted for the greatest market share by type in 2022, is anticipated to maintain its leadership throughout the forecast period. Demand for the fingerprint authentication segment is anticipated to expand as segment growth as a result of an expansion in the law enforcement sector. Smartphone users frequently use face recognition to unlock their devices and confirm payments.

North America region is positioned as a frontrunner in the Passwordless Authentication Market

North America: Due to the widespread adoption of cutting-edge technologies like cloud computing, the Internet of Things, and mobile devices, North America is anticipated to be a prominent location for the passwordless authentication market. The adoption of passwordless authentication in this region is anticipated to be driven by the rising concern over data breaches and identity theft. The leading providers in the USA offer a broad range of authentication solutions. Passwordless authentication is being adopted in the area by sectors like healthcare, banking, retail, logistics, and consumer electronics. Passwordless Authentication industry growth is anticipated to be boosted in the North American area, which includes the USA and Canada, with the use of the technology and continuous research. For many applications, the USA and Canada are using passwordless authentication techniques. USA

Passwordless Authentication Market Key Players:

1.Fujitsu 2.NEC Corporation 3.M2SYS Technology 4. Microsoft 5. HID Global Corporation 6. Okta 7. HID Global 8. Duo Security 9.Cisco 10.IBM 11.Log Me Once 12.Trusona 13.PureID 14.Keyless 15.Identite 16.Kosmos 17.Ubisecure 18. Signicat 19. Stytch 20. Hypr 21. Secret Double Octopus

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