Passwordless Authentication Software Market Scope
Passwordless authentication is a type of multi-factor authentication that eliminates a password as an authentication type. Instead of using passwords, passwordless authentication relies on authenticating a user via other means, such as something a user has (like a trusted mobile device or a hardware security key) and something that they are (scanning their fingerprint). The most common use cases for passwordless authentication include either workforce authentication or customer authentication. Furthermore, companies use passwordless authentication to improve end-user experience, as many people forget or reuse unsecured passwords. Reduce security risks to the company stemming from breached passwords. And reduce the cost of maintaining passwords and lifting the burden of password resets on help desk teams.
The market study is being classified by Type (Cloud-Based and Web-based) and major geographies with country level break-up.
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Passwordless Authentication Software market throughout the predicted period.
Ping Identity Corp (United States), Yubico (United States), Secret Double Octopus (Israel), Microsoft (United States), Authentiq BV (United States), 1Kosmos (United States), Cidaas (Germany), Groove id (United States), HYPR (United States) and IDEE GmbH (Germany) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are IdRamp (United States), Locurity, Inc. (United States), Identite (Canada), OARO (Canada), Privakey (United States), ReachFive (France), Trusona (United States) and Veridium (United States).
AdvanceMarketAnalytics has segmented the market of Global Passwordless Authentication Software market by Type, Application and Region.
On the basis of geography, the market of Passwordless Authentication Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On 25 June 2019, Ping Identity, the leader in Identity Defined Security, announced a significant update to PingOne for Customers, the cloud-delivered Identity-as-a-Service (IDaaS) offering built for developers. The API-first solution can now deliver seamless and secure push notifications from custom mobile applications that can be used for passwordless and advanced multi-factor authentication. The cloud identity solution helps development teams speed time to launch for their applications, while also taking security concerns off their plates and letting them maintain customization and control over their user experiences. This release marks another milestone for PingOne for Customers that makes embedding secure identity services—login, registration, multi-factor authentication and others—into applications easier than ever.
On 28 April 2020, Trusona, the pioneering leader in passwordless multi-factor authentication technology, announced it has expanded its suite of passwordless solutions to support 2-step verification with Time-based One-time Passwords (TOTPs), allowing enterprises to further consolidate security and provide even more global users with secure account access.
- Technological Advancements in Passwordless Authentication Software
- The Rising Risks from Phishing and Password Attacks
- The Growing Need to Offer Enhanced Customer Experience
- Upsurging Demand for Passwordless Authentication Solutions To Reduce Total Cost of Ownership (TCO)
- Passwords are Burden for the IT Staffs in Many Ways is the Key Factor Driving the Market Growth
- The Rising Adoption of Passwordless Authentication Software across the Medium Size Enterprises
- An Availability of Other Authentication Tools
Key Target AudiencePasswordless Authentication Software Companies, Potential Investors, Regulatory & Government Bodies, End Users and Others
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