FIDO Authentication Market : A Look at the Industry's Growth Drivers and Challenges
The FIDO Authentication Market size was USD 1.3 billion in 2022 and is expected to Reach USD 6.72 billion by 2030 and grow at a CAGR of 22.8 % over the forecast period of 2023-2030.
The FIDO (Fast Identity Online) Authentication market ?is experiencing significant growth as the demand for secure and user-friendly authentication solutions increases. Organizations across various sectors, including finance, healthcare, and e-commerce, are adopting FIDO standards to enhance security and reduce reliance on passwords. The FIDO Alliance, a consortium of leading tech companies, has been instrumental in developing protocols that enable passwordless authentication using biometrics, security keys, and other methods. This shift not only improves user experience but also mitigates risks associated with password breaches and phishing attacks, driving market expansion.
The integration of FIDO authentication in mobile devices and web browsers is another factor propelling the market. Major tech giants such as Google, Apple, and Microsoft have incorporated FIDO standards into their platforms, facilitating widespread adoption. This integration allows for seamless authentication experiences across devices and services, promoting a unified security approach. Furthermore, regulatory requirements and growing awareness of data privacy issues are pushing enterprises to adopt robust authentication mechanisms like FIDO
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Covid 19 impact analysis:
The latest report is the most recent study that offers 360°?coverage of the FIDO Authentication ?industry that has been facing the brunt of the adverse economic impact of the COVID-19 outbreak since the beginning of this year. The global health crisis has affected nearly every aspect of the business vertical and led to massive disruptions to the global?FIDO Authentication ?market demand and supply chains. Researchers draw predictions for the market scenario in the post-COVID era. The report, additionally, assesses the present market situation and estimates its future outcomes, keeping in mind the impact of the pandemic on the global economic landscape.
Major companies profiled in the market report include
?OneSpan, Aware, Inc., Nok Nok Labs, Inc., Century Longmai Technology Co., Ltd., Daon, Movenda, Thales Security, RSA Security LLC, International Systems Research Co., Yubico, and other players
Research objectives:?
The latest research report has been formulated using industry-verified data. It provides a detailed understanding of the leading manufacturers and suppliers engaged in this market, their pricing analysis, product offerings, gross revenue, sales network & distribution channels, profit margins, and financial standing. The report’s insightful data is intended to enlighten the readers interested in this business sector about the lucrative growth opportunities in the?FIDO Authentication ?market.
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It?has segmented the global?FIDO Authentication?market
By Component
l FIDO Authentication Devices
l FIDO Authentication SDKs
l FIDO Client SDK
l FIDO Server SDK
Services
l Technology Consulting
l Integration & Deployment
l FIDO Certification Services
l Support Services
By Application
l Payment Processing
l PKI/Credential Management
l Document Signing
l User Authentication
l Others
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By Industry Vertical
l BFSI
l Healthcare & Life Sciences
l IT & Telecom
l Retail & CPG
l Government & Defense
l Energy & Utilities
l Others
Key Objectives of the Global?FIDO Authentication Market Report:
l The report conducts a comparative assessment of the leading market players participating in the global?FIDO Authentication?market.
l The report marks the notable developments that have recently taken place in the FIDO Authentication ?industry
l It details on the strategic initiatives undertaken by the market competitors for business expansion.
l It closely examines the micro- and macro-economic growth indicators, as well as the essential elements of the?FIDO Authentication?market value chain.
l The repot further jots down the major growth prospects for the emerging market players in the leading regions of the market
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