Passwordless Authentication: Market Sizing Predictions

In the light of the increase in cybercrime, more companies are adopting Passwordless Authentication to protect their platforms, leading this market segment to expect a considerable growth in the coming years. KuppingerCole Analysts predicts that the Compound Annual Growth Rate (CAGR) goes up to 31.1%, leading the Passwordless Authentication market to reach 6.6 billion US dollars by 2025. This expected growth can also be attributed to the user-friendliness of this method and to the possibility the easy integration of those systems within a company framework, as well as the rising cases of data theft and the constant search of the companies to protect their sensitive information. North America and EMEA are the regions where this service is experiencing the strongest growth.?

This segment promises to grow strongly in the coming years, offering modern and efficient solutions to different organizations. Many of the vendors have developed specialized risk-based passwordless products and services, which can integrate with customers' on-premises IAM components and support the migration of legacy applications to modern authentication systems.?