#FIDO Authentication Industry
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FIDO Authentication Industry Hits $1.24 Billion in 2022, Set to Soar to $12.06 Billion by 2033
The FIDO Authentication Market has witnessed remarkable growth, with the total revenue reaching US$ 1,238.6 million in 2022. This impressive growth trajectory is projected to continue, with the market expected to surge to US$ 12,059.7 million by 2033, reflecting a robust Compound Annual Growth Rate (CAGR) of 23.1% from 2023 to 2033.
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Drivers and Opportunities:
The market’s expansion is driven by several factors, including the increasing adoption of FIDO authentication solutions across various industries. The rising concerns over cybersecurity threats have prompted organizations to seek robust authentication methods, further fueling market growth. Additionally, the growing popularity of biometric authentication methods and the proliferation of mobile devices are providing lucrative opportunities for market players to innovate and expand their offerings.
Competitive Landscape – Regional Trends:
The FIDO Authentication Market is highly competitive, with key players constantly innovating to maintain their market position. Regional trends indicate that North America dominates the market, owing to a high concentration of tech-savvy enterprises and stringent security regulations. Europe follows closely behind, driven by increasing awareness of data security. Meanwhile, the Asia-Pacific region presents significant growth potential due to the rapid digitalization of economies and the need for robust authentication solutions.
Restraints:
Despite its rapid growth, the market faces certain limitations, including concerns related to user privacy and data protection. Striking a balance between stringent security measures and user convenience remains a challenge for market players. Moreover, the high initial costs associated with implementing FIDO authentication solutions may hinder adoption among smaller enterprises.
Region-wise Insights – Category-wise Insights:
Regionally, North America leads the FIDO Authentication Market, with a substantial share of the global market. Within categories, biometric authentication solutions are gaining prominence due to their accuracy and user-friendliness. Moreover, the healthcare and financial sectors are witnessing substantial adoption of FIDO authentication, driven by the need for secure access to sensitive data.
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Competitive Landscape
As organizations around the world are challenged in controlling dynamic and hybrid IT environment, the need for secure mobile or online applications without compromising user convenience is increasing continuously.
Owing to this, most of the leading players in the FIDO authentication technology are coming with advanced and innovative solutions that meets the ever-changing demand from organizations for advanced security and privacy concerns.
In January 2021, Aware, Inc. announced the launch of AwareABIS, an automated biometric identification system (ABIS) used for large-scale biometric identification and deduplication. Designed to serve among 1-30 million identities or more, AwareABIS supports fingerprint, face and iris modalities, and features a modular architecture that helps security teams configure and optimize the system for civil or criminal applications.
FIDO Authentication Outlook by Category
By Solution:
FIDO U2F Authentication Devices
FIDO Authentication SDKs
FIDO Client SDK
FIDO Server SDK
Services
Technology Consulting
Integration & Deployment
FIDO Certification Services
Support Services
By Application:
Payment Processing
PKI/Credential Management
Document Signing
User Authentication
Others
By Industry:
BFSI
Healthcare & Life Sciences
IT & Telecom
Retail & CPG
Government & Defense
Energy & Utilities
Others
By Region:
North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East and Africa
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Embrace the passwordless future of passkeys
Have digital passwords has been around since the 1960s, and we haven’t come up with a better option… until now. A tech industry-wide group called the FIDO Alliance aims to get rid of them, and for good reason: Passwords are easy to hack, and hard to remember. The smarter method, they argue, is to scrap difficult passwords altogether and use cryptographic keys for authentication instead. These…
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#loginsecurity#solution#strongpassword#cyberattack#passwordsecurity#passwordlessauthentication#informationtechnology#auth#web#machinelearning#ios#android#userauthentication#otp#logindetails#hacking#futureprotected#logindata#windowshello#secure#loosedata#rainbowsecurity#style#lock#future#safe#kyc#biocertica#privateblockchain#safer
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Cloud Authentication Market Share, Development by Companies Outlook, Growth Prospects & Key Opportunities by 2022-2032
A recent market analysis by Future Market Insights predicts that the cloud authentication market is worth US$ 11,279.2 million in 2022. Over the projection period, a CAGR of 14.4% is expected to be achieved in the market.
The BFSI industry is among those with the highest information sensitivity. Cloud authentication is being aggressively adopted by the sector to safeguard client data and guard against fraud and data breaches.
Most telecom and IT organizations are embracing the Bring Your Own Device (BYOD) trend, which is anticipated to accelerate the market for cloud authentication as a service. E-commerce is also among the most cost-conscious industries and one of the companies that hackers target the most owing to the possibility for payments and the vast amount of financial transactions made using credit and debit cards.
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Adopting cloud authentication is therefore seen as the most secure choice for companies.
Over the years, both large enterprises and SMEs have primarily used cloud authentication. Features like automatic user account provisioning, workflow and self-service management, Single Sign-On (SSO), password management, and access governance are useful for large enterprises.
However, the more authentication elements there are, the longer it takes to complete a single task. Fraudsters can also quickly obtain a user's physical sim card and access IDs by using methods like sim swapping or switching. These factors are anticipated to restrict the growth of the cloud authentication market.
Key Takeaways
The cloud authentication market is likely to have a CAGR of 14.4% during the forecast period.
Historically, the cloud authentication market had a CAGR of 12.6% between 2017-2021.
The value of the cloud authentication market is expected to be US$ 12,753.4 million by 2032.
Based on type, the multifactor authentication segment has a 68% share in the cloud authentication market.
Based on the enterprise size, the very large enterprise (1000+ employees) dominated the market share by 26% in 2021.
North America dominated the cloud authentication market with a share of 32.9% in 2021.
During the forecast period, the cloud authentication market in South Asia & Pacific is likely to showcase the growth of 22.5%.
Immense Prospects For Major Key Players
IBM, Microsoft, CA. Inc, Secureworks Inc, Oracle Corporation, Intel Corporation, Onelogin Inc, Hewlett Packard Enterprise Development LP, Sailpoints Technology Holdings Inc, and Ping Identity are some of the major players in the cloud authentication market.
Manufacturers must focus on creating linked production processes that allow them to pinpoint potential growth opportunities and create new revenue streams.
IBM released the security IAM suite V1.0 in August 2020. Access manager, security identity governance and intelligence, security directory suite, and security identity manager are among the security tools included in the latest version.
Oracle released an improved version of their IAM solutions in November 2020. (Oracle Identity Cloud Service). It enables typical IDaaS use cases, including social login, password-less login, strong and adaptive authentication, bidirectional synchronization to on-prim, and others.
The creation and advancement of open standards for safe authentication are the main objectives of a worldwide business organization known as the FIDO Alliance.
Key Players
IBM
Microsoft
CA. Inc
Secureworks Inc.
Oracle corporation
Intel Corporation
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Key segments
By Type:
Single
Multifactor
By Enterprise Size:
Small Offices (1-9 employees)
Small Enterprises (10-99 employees)
Medium-sized enterprise (100-499 employees)
Large Enterprises (500-999 employees)
Very Large Enterprises (1000+ employees)
By Industry:
Service
Distribution Services
Public Sector
Finance
Manufacturing Resources
Infrastructure
By Region:
North America
Latin America
Europe
East Asia
South Asia and Pacific
Middle East & Africa
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OPPO Joins the FIDO Alliance, Accelerating the Arrival of a New Era of Passwordless Sign-ins
OPPO Joins the FIDO Alliance, Accelerating the Arrival of a New Era of Passwordless Sign-ins
The replacement of traditional password-based authentication mechanisms with leading passwordless technology will allow OPPO users to benefit from faster, more convenient, and more secure logins across different accounts, services, and platforms
OPPO recently announced that it has joined the FIDO (Fast IDentity Online) Alliance, an open industry association with a mission to develop…
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The global FIDO Authentication Market is fueled by various factors, according to a detailed assessment explained in the report. This study shows how important in-depth analysis should be, and how it greatly affects the quality of information provided to the readers. Further, the report also takes into account the impact of the novel COVID-19 pandemic on the FIDO Authentication market and offers a clear assessment of the projected market fluctuations during the forecast period.
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FIDO Authentication Market: Projected Revenue Surge by 2033
The FIDO Authentication Market has witnessed remarkable growth, with the total revenue reaching US$ 1,238.6 million in 2022. This impressive growth trajectory is projected to continue, with the market expected to surge to US$ 12,059.7 million by 2033, reflecting a robust Compound Annual Growth Rate (CAGR) of 23.1% from 2023 to 2033.
Get Sample Copy of this Report at:
https://www.futuremarketinsights.com/reports/sample/rep-gb-12485
Drivers and Opportunities:
The market’s expansion is driven by several factors, including the increasing adoption of FIDO authentication solutions across various industries. The rising concerns over cybersecurity threats have prompted organizations to seek robust authentication methods, further fueling market growth. Additionally, the growing popularity of biometric authentication methods and the proliferation of mobile devices are providing lucrative opportunities for market players to innovate and expand their offerings.
Competitive Landscape – Regional Trends:
The FIDO Authentication Market is highly competitive, with key players constantly innovating to maintain their market position. Regional trends indicate that North America dominates the market, owing to a high concentration of tech-savvy enterprises and stringent security regulations. Europe follows closely behind, driven by increasing awareness of data security. Meanwhile, the Asia-Pacific region presents significant growth potential due to the rapid digitalization of economies and the need for robust authentication solutions.
Restraints:
Despite its rapid growth, the market faces certain limitations, including concerns related to user privacy and data protection. Striking a balance between stringent security measures and user convenience remains a challenge for market players. Moreover, the high initial costs associated with implementing FIDO authentication solutions may hinder adoption among smaller enterprises.
Region-wise Insights – Category-wise Insights:
Regionally, North America leads the FIDO Authentication Market, with a substantial share of the global market. Within categories, biometric authentication solutions are gaining prominence due to their accuracy and user-friendliness. Moreover, the healthcare and financial sectors are witnessing substantial adoption of FIDO authentication, driven by the need for secure access to sensitive data.
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https://www.futuremarketinsights.com/request-report-methodology/rep-gb-12485
Competitive Landscape
As organizations around the world are challenged in controlling dynamic and hybrid IT environment, the need for secure mobile or online applications without compromising user convenience is increasing continuously.
Owing to this, most of the leading players in the FIDO authentication technology are coming with advanced and innovative solutions that meets the ever-changing demand from organizations for advanced security and privacy concerns.
In January 2021, Aware, Inc. announced the launch of AwareABIS, an automated biometric identification system (ABIS) used for large-scale biometric identification and deduplication. Designed to serve among 1-30 million identities or more, AwareABIS supports fingerprint, face and iris modalities, and features a modular architecture that helps security teams configure and optimize the system for civil or criminal applications.
FIDO Authentication Outlook by Category
By Solution:
FIDO U2F Authentication Devices
FIDO Authentication SDKs
FIDO Client SDK
FIDO Server SDK
Services
Technology Consulting
Integration & Deployment
FIDO Certification Services
Support Services
By Application:
Payment Processing
PKI/Credential Management
Document Signing
User Authentication
Others
By Industry:
BFSI
Healthcare & Life Sciences
IT & Telecom
Retail & CPG
Government & Defense
Energy & Utilities
Others
By Region:
North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East and Africa
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FIDO Authentication Market: Global Forecast Over 2031
Transparency Market Research delivers key insights on the global FIDO authentication market. In terms of revenue, the global FIDO authentication market is estimated to expand at a CAGR of 10.7% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global FIDO authentication market.
FIDO authentication is a set of technology-agnostic security specifications for strong authentication. It significantly supports multifactor authentication (MFA) and public key cryptography, storing personal identification information (PII), such as biometric authentication, locally on the customer’s device in order to protect it. FIDO authentication helps enterprises to alleviate critical risks of a data breach arising due to password mismanagement and weak passwords. It also allows organizations to save on costs related to device provisioning, customer support, and password reset, while delivering a seamless user experience. FIDO authentication standards offer a series of open and scalable specifications such as FIDO2, Universal Second Factor (U2F), and Universal Authentication (UAF), providing more secure and simpler authentication experiences. FIDO authentication standards make user identification easier with multi-factor authentication (MFA), biometric systems, and other alternatives across applications and websites.
Rise in need for advanced security solutions and increase in adoption of web and mobile applications that help in reducing cyber-attack exposure are creating potential demand for FIDO authentication. Moreover, several benefits of FIDO authentication such as ease of use, cost reduction, standardization, and strong authentication are propelling their adoption across businesses.
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FIDO Authentication Market: Dynamics
FIDO authentication services engage in the practice of shielding organizations and their assets from cyber threats and identity fraud, which might impede the stability of the business process. It employs numerous authentication techniques to authorize and validate user credentials in real-time.
FIDO authentication services is a sub-segment of identity and access management that can be defined as the management of individual identities, their authorization, and providing access based on predefined rules. Organizations struggled to meet compliance demands, resulting in deploying solutions limited to few applications and systems.
Enterprises have been adopting FIDO authentication services to alleviate these threats in the last few years, which helps synchronize identities between directories, password, compliance management, and access authentication, delivering access to applications and data of sensitive companies on users preferred mobile devices. These FIDO authentication services not only offer a highly secure environment, but they are cost-effective and have operational efficiency and management control. This is projected to propel the FIDO authentication market during the forecast period.
FIDO standards offer a series of scalable specifications such as FIDO2, Universal Second Factor (U2F), and Universal Authentication Framework (UAF), enabling a stronger, simpler, and more secure user authentication experience. For instance, The Alliance added the FIDO Cooperation and Liaison Program, which invites industry associations worldwide for implementation of FIDO standards.
Furthermore, in May 2020, FIDO Alliance launched LoginWithFIDO, a new website to educate service providers and consumers on the benefits of FIDO simpler, stronger authentication.
In April 2018, The W3C launched FIDO2, the web authentication JavaScript API standard and FIDO’s corresponding Client to Authentication Protocol. Major players of web browsers such as Microsoft Edge, Mozilla Firefox, Chrome, and Google have also implemented the standards on Windows 10, Android, and related Microsoft technologies to have built-in support for FIDO authentication.
Thus, government agencies pushing for standardization of data security protocols is anticipated to propel the FIDO authentication market significantly during the forecast period.
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FIDO Authentication Market: Prominent Regions
North America is significant market for FIDO authentication. The region is home to a considerable number of SMEs and large enterprises and hence, the average deployment of FIDO authentication in enterprises was highest in the region. North America accounted for a prominent share of cyber security spending in 2020. This growing trend of having a strong focus on cyber security by small and medium, and large organizations in the region, clearly shows concerns about data protection. In North America, the U.S. is anticipated to hold a significant share in the market, due to the rising number of cyber-thefts and data breaches as well as strong presence of FIDO authentication vendors across the country, which, in turn, is expected to boost the FIDO authentication market in North America.
However, the FIDO authentication market in Asia Pacific is projected to expand at a robust pace during the forecast period. In the region, large enterprises are expected to adopt these solutions at a higher rate. Furthermore, governments in APAC countries are focused on the adoption of authentication across verticals. Asia Pacific has emerging economies that are emphasizing on enhancing cybersecurity with passwordless authentication. This, in turn, is anticipated to boost the FIDO authentication market during the forecast period.
FIDO Authentication Market: Key Players
Key players operating in the global FIDO Authentication market are Aware, Inc., Cardcontact Systems GmbH, Daon, Futurex, Huawei Device Co., Ltd., HYPR Group, LoginID, Movenda, OneSpan, RSA Security LLC, Swift, Thales Security, Ultra Electronics, Utimaco GmbH, and Yubico.
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Global FIDO Authentication Market: Segmentation
FIDO Authentication Market, by Component
FIDO Authentication Devices
FIDO Authentication SDKs
Support Services
FIDO Authentication Market, by Application
Payment Processing
PKI/Credential Management
Database Encryption
Application Level Encryption
Others
FIDO Authentication Market, by Vertical
Banking and Financial Services
Government
Technology and Communication
Industrial and Manufacturing
Energy and Utility
Retail and Consumer Products
Healthcare & Life sciences
Others
TMR Latest News Publication:
Cyber Security as a Service Market – The threat quotient over the internet has increased phenomenally over the years. According to a survey by RiskBased, data breaches exposed nearly 4.1 bn records only in the first 6 months of 2019. A study by Ponemon Institute stated that security breaches have expanded by 11 percent since 2018 and 67 percent since 2014. These statistics highlight the necessity to keep cybersecurity measures in place for avoiding any untoward cases of breaching. Such advancements lead to an increase in the growth rate of cyber security as a service market.
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Episode 1196 - Passwordlesss Authentication Is One Step Closer, Major Announcement
Passwordless authentication is the future of the industry and it's taken one step closer to being widespread. This episode talks about an announcement Apple, Microsoft, Google had in partnership with the FIDO Alliance.
Source - https://fidoalliance.org/
Be aware, be safe.
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Apple, Google, and Microsoft Team Up to Vanquish the Password
Apple, Google, and Microsoft Team Up to Vanquish the Password
We’ve been promised the end of password-based logins on the internet for a very long time, but now it seems that promise may finally be fulfilled.
The FIDO Alliance, an industry group aimed at standardizing authentication methods online, announced that its passwordless sign-on method has received support from the big browser builders: Apple, Microsoft, and Google. That means that later this year…
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Passwords on the internet: soon the end of the ordeal? - 06/05/2022 at 08:51
Passwords on the internet: soon the end of the ordeal? – 06/05/2022 at 08:51
A common authentication system, dubbed FIDO, could be rolled out within a year, industry giants say.
(illustration) (AFP / KIRILL KUDRYAVTSEV)
“Forgot your password?”. The hassle of unique codes to remember could soon be history within a year thanks to the “FIDO” system.
Google, Apple and Microsoft announced an agreement on Thursday May 5 to build this protocol,
which allows you to…
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#Boursorama#CAC 40 shares#currency indices#invest#investment#Paris stock exchange#quotes#Sicav#stock market#trackers#warrants
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Passwords on the internet: soon the end of the ordeal? - 06/05/2022 at 08:51
Passwords on the internet: soon the end of the ordeal? – 06/05/2022 at 08:51
A common authentication system, dubbed FIDO, could be rolled out within a year, industry giants say.
(illustration) (AFP / KIRILL KUDRYAVTSEV)
“Forgot your password?”. The hassle of unique codes to remember could soon be history within a year thanks to the “FIDO” system.
Google, Apple and Microsoft announced an agreement on Thursday May 5 to build this protocol,
which allows you to…
View On WordPress
#Boursorama#CAC 40 shares#currency indices#invest#investment#Paris stock exchange#quotes#Sicav#stock market#trackers#warrants
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Apple, Google, and Microsoft to extend support for FIDO ‘passwordless’ sign-in
Apple, Google, and Microsoft to extend support for FIDO ‘passwordless’ sign-in
In early 2020, Apple joined the FIDO Alliance, an open industry association created to reduce the interoperability of authentication methods and reduce reliance on traditional passwords. Now Apple, Google, and Microsoft have committed to expanding support for the FIDO Standard, moving toward a universal “passwordless” sign-in method.
more…
The post Apple, Google, and Microsoft to extend support…
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PSD2 and Open Banking Biometric Authentication Market Insights 2021, Global Analysis and Forecast to 2027
A significant PSD2 and Open Banking Biometric Authentication market research study helps in planning by providing accurate and state-of-the-art information about the consumer’s demands, preferences, attitudes and their changing tastes about the specific product. It estimates the market share and possible sales volume of a client company. The industry report makes familiar with the types of consumers, their views about the product, their buying intentions and their ideas for the step up of a product. Moreover, PSD2 and Open Banking Biometric Authentication market analysis report discovers the better and new methods to distribute the products to consumers and also recognizes the extent of the marketing problems.
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There are 3 key segments covered in this report: competitor segment, product type segment, end use/application segment.
For competitor segment, the report includes global key players of PSD2 and Open Banking Biometric Authentication as well as some small players. At least 10 companies are included:
· Nok Nok Labs
· Apple
· Gemalto
· Iritech,Inc.
· The FIDO Alliance
· VoiceVault
A trustworthy PSD2 and Open Banking Biometric Authentication market research report guides the manufacturer about planning of advertising and sales promotion efforts thereby making it more effective. It not only restrains the risks of ambiguity but also assists in taking sound decisions. Furthermore, the market report helps keep hold of reputation of the firm and its products. Whether it is about the product, customer, competitor or marketing strategy, market research analysis report helps drive the business in a right direction. To gain competitive advantage and to thrive in the market, go for PSD2 and Open Banking Biometric Authentication market report.
For product type segment, this report listed main product type of PSD2 and Open Banking Biometric Authentication market in global and china.
· Type 1
· Type 2
For end use/application segment, this report focuses on the status and outlook for key applications. End users are also listed.
· Bank
· Other
Globalization makes it clear that market research report hold an immense importance for the growth of many businesses. The wide ranging PSD2 and Open Banking Biometric Authentication market document proves to be true in this regard and is designed in a way that is anticipated. It’s the demand or necessity of today’s business to do market research analysis before taking any verdict about the products. This is the transparent market report which has been structured with authentic tools and techniques. The market research analysis conducted in the winning PSD2 and Open Banking Biometric Authentication market report helps improve product and also decide about the necessary changes to the future products.
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