NEW YORK -
Aug. 1, 2025 -
PRLog -- According to the latest market research study published by P&S Intelligence, the global passwordless authentication market is poised to witness remarkable growth, with an estimated revenue of USD 10.8 billion in 2024 and a projected CAGR of 27.4% during 2025–2032, reaching USD 73.7 billion by the end of the forecast period. This innovative approach to user verification, which eliminates the need for traditional passwords, is rapidly gaining momentum due to its enhanced security, seamless user experience, and ability to mitigate cyberattack risks.
Unlike conventional methods, passwordless authentication leverages technologies such as biometrics, smartphone-based information, and hardware tokens to authenticate users securely. This method not only streamlines the login process but also significantly reduces the need for password management, a common pain point for users and organizations alike.
The global market's expansion is being catalyzed by increasing cybersecurity threats, the growing reliance on mobile devices and cloud technologies, and a broader push for enterprise digital transformation. As industries strive for regulatory compliance and more intuitive user experiences, passwordless solutions are emerging as the next frontier in digital identity verification.
Key Insights - The fingerprint authentication category is expected to lead the market with a 60% revenue share in 2024, driven by widespread adoption in consumer electronics, government applications, and advanced touchless biometric technologies.
- Face recognition technology is projected to experience the fastest growth, with a CAGR of 28% from 2025 to 2032, gaining popularity for identity verification in border control and mobile devices.
- The hardware segment will remain dominant in 2024, contributing 55% of the market revenue, as multi-factor authentication devices like tokens, biometric systems, and smart cards gain traction.
- The BFSI industry will be the largest and fastest-growing vertical, generating 40% of the revenue in 2024 and anticipated to grow at a CAGR of 29% through 2032, due to rising demand for seamless, secure digital banking experiences.
Browse detailed report analysis on "Passwordless Authentication Industry Trends and Forecast Report, 2032 (https://www.psmarketresearch.com/market-analysis/password...)" - North America will dominate geographically, accounting for 40% of the global market in 2024, owing to high-profile data breaches, robust technology adoption, and presence of key players.
- Asia-Pacific will emerge as the fastest-growing region, with a projected CAGR of 30% from 2025 to 2032, bolstered by cloud-based service uptake, digitalization, and rising cybersecurity awareness.
- Technological trends such as continuous authentication and behavioral biometrics are transforming the landscape, shifting from binary verification models to adaptive, risk-based strategies.
- Competitive dynamics remain robust, with players like HID Global, NEC Corporation, Fujitsu, and Okta Inc. actively investing in innovations, mergers, and strategic partnerships.
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