SAN FRANCISCO, Dec. 22, 2022 /PRNewswire/ — The global passwordless authentication market size is expected to reach USD 55.70 billion by 2030, growing at promising 18.2% CAGR, according to a new report by Grand View Research, Inc. Passwordless authentication is a security procedure that uses unique biological traits of a person to validate their authenticity.
Key Industry Insights & Findings from the report:
-
Growing investments in developed countries such as the U.S., Canada, Germany, France, and the U.K. for implementing passwordless authentication technology is a crucial factor driving the growth.
-
Fingerprint recognition and facial recognition provide various benefits. The increased security, accountability, convenience, and their non-transferable nature are crucial drivers for the growth.
-
The surge in e-commerce and internet banking, as well as legislations by various authorities such as central banks mandates large organizations to utilize robust authentication mechanisms to authenticate customers.
-
Multi-factor authentication protects clients from phishing attempts and fraudulent purchases and secures transactions.
Read 117-page market research report, “Passwordless Authentication Market Size, Share & Trends Analysis Report By Component, By Product Type (Facial Recognition, Fingerprint, Iris), By Authentication Type, By Portability, By End-user, By Region, And Segment Forecasts, 2022 – 2030“, published by Grand View Research.
Passwordless…
