Global Passwordless Authentication Market predicted to reach USD 53.64 billion by 2030
Passwordless authentication is a security process which relies on few unique biological characteristics of an individual in order to verify his/her authenticity. It is a method of authenticating user's identity without the use of passwords.
Passwordless authentication comes with several benefits such as improved user experience, better security, and reduction in total cost of ownership. In order to get confirmation, both samples (human and machine) of the biometric data should match.
Growing penetration of smartphones and other consumer electronic devices is a major factor contributing to the growth of the biometric authentication market. In addition, growing need for an additional layer of security beyond passwords is another factor augmenting the growth of passwordless authentication market.
Moreover, rapid adoption of technologies such as artificial intelligence and internet of things (IoT) in devices such as smartphones and tablets among others is another key factor responsible for the growth of the passwordless authentication market. Fingerprint sensors and smartcards are used to verify identities, and these security points allow for a seamless experience and makes way for a smooth flow of data between points.
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