The global FIDO authentication market stood at ~US$ 1238.6 Million as of the year 2022 and is expected to reach ~US$ 12,059.7 Million by the year 2033 at an exalted CAGR of 23.1% between 2023 and 2033. The fact that using FIDO authentication services and solutions could help the organizations in eliminating weaker links in the authentication chain; like conventional passwords and making way for improved security as well as customer experience through password less authentication.
The industry has With “work from home” becoming the “new normal,” the FIDO (First Identity Online) Alliance, a non-profit group that includes corporate behemoths like Microsoft, Apple, and Facebook, is pushing for the implementation of far greater security. It is becoming more widely known that the FIDO U2F (Universal 2nd Factor) security key is a security protocol that enables secured access for Internet users using a single physical security key. These kinds of trends will undoubtedly contribute to the unintentional growth of the FIDO authentication market in the coming years.
To Get Sample Copy of Report Visit @ https://www.futuremarketinsights.com/reports/sample/rep-gb-12485
The major firms want to replace traditional complicated and static passwords with a variety of cutting-edge authentication alternatives, including PIN and biometrics. Numerous benefits of FIDO authentication, including cost savings, standardisation, and proper authentication, are encouraging the widespread adoption of FIDO authentication solutions.
Cloud-based resources, remote access, and various mobility solutions are on the rise, which is pressuring businesses to choose easy-to-manage solutions to reduce their susceptibility to endpoint attack. The rise in data vulnerability due to the use of novel applications and the BYOD (Bring Your Own Device) trend are both predicted to drive the FIDO authentication industry. In its most recent industry analysis, titled “FIDO Authentication Market,” Future Market Insights has talked through these findings with future projections. There to carry out is the diligent staff of analysts and experts. Both macros and micros are in development.
Key Takeaways from FIDO Authentication Market
· North America holds the largest market share due to the US being subject to rising demand for FIDO-based authentication solutions in several verticals like BFSI, telecommunication, healthcare, and likewise. Also, with hybrid model in place, it’s imperative to outshine privacy and advanced security threats.
· Europe is led by the UK, which is expected to stand tall with aa CAGR of 23.4% in the forecast period. It’s interesting to learn that the economy of the UK is being empowered by platform business models, big data, smartphone technology, advanced analytics, and peer-to-peer networks. Additionally, the governments over here are on a vigil with increasing incidences of terrorist financing and money laundering. The EBA (European Banking Authority) did start prioritizing fraud management for the EU since 2020.
· The Asia-Pacific is led by countries like India, China, and Japan. The FJWG (FIDO Japan Working Group) is created for addressing the growing inclination toward FIDO authentication, especially from stakeholders. India is expected to witness an incredible CAGR in FIDO authentication market (33%) due to the country increasingly using digital certificates and PKI for ascertaining online transactions.
Request Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-12485
Competitive Landscape
· Aware, Inc., in January 2021, announced launching AwareABIS. It comes across as one of the automated biometric identification systems (ABIS) used for biometric deduplication and identification. AwareABIS thus expends support to face, fingerprint, and the iris modalities. It also has a modular architecture helping security teams configure and later optimize system for criminal or civil applications.
“With mobile and web applications being increasingly adopted, advanced security solutions are inevitable. This factor is expected to revolutionize the FIDO authentication market”, says an analyst from Future Market Insights.
· FIDO authentication helps in catering to requirement for secured application, that too, without tampering with user convenience.
FIDO Authentication Outlook by Category
By Solution:
· FIDO U2F Authentication Devices (Security Keys)
· FIDO Authentication SDKs
o FIDO Client SDK
o FIDO Server SDK
· Services
o Technology Consulting
o Integration & Deployment
o FIDO Certification Services
o Support Services
By Application:
· Payment Processing
· PKI/Credential Management
· Document Signing
· User Authentication
· Others
By Industry:
· BFSI
· Healthcare & Life Sciences
· IT & Telecom
· Retail & CPG
· Government & Defense
· Energy & Utilities
· Others
By Region:
· North America
· Latin America
· Europe
· East Asia
· South Asia & Pacific
· Middle East and Africa (MEA)
Ask An Analyst @https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-12485