FIDO Authentication Market set to Reach USD 6.72 billion by 2030 Due to Increasing Adoption of Mobile and IoT Devices

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 authentication market is witnessing a surge in demand as organizations increasingly prioritize robust security measures. FIDO, which stands for Fast Identity Online, offers a novel approach to authentication by leveraging public key cryptography. Unlike traditional password-based methods, FIDO authentication relies on biometrics, security keys, or other device-based credentials, providing a higher level of security and usability. This shift towards FIDO authentication is driven by the need to combat rising cyber threats and enhance user experience simultaneously.

One of the key drivers propelling the growth of the FIDO authentication market is the escalating number of data breaches and identity theft incidents across various industries. Organizations are recognizing the limitations of password-based authentication, which often proves vulnerable to phishing attacks and brute-force hacking attempts. FIDO authentication addresses these vulnerabilities by eliminating the reliance on static passwords, thereby mitigating the risks associated with credential-based breaches. As regulatory bodies impose stricter data protection regulations, businesses are increasingly turning to FIDO authentication solutions to fortify their security posture and ensure compliance.

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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

• FIDO Authentication Devices
• FIDO Authentication SDKs
• FIDO Client SDK
• FIDO Server SDK

Services

• Technology Consulting
• Integration & Deployment
• FIDO Certification Services
• Support Services

By Application

• Payment Processing
• PKI/Credential Management
• Document Signing
• User Authentication
• Others

By Industry Vertical

• BFSI
• Healthcare & Life Sciences
• IT & Telecom
• Retail & CPG
• Government & Defense
• Energy & Utilities
• Others

Key Reasons to Purchase this Report:

A comprehensive study of market size, share and dynamics is a global FIDO Authentication ‘market research report and a thorough survey of developments in the field.

It offers an in-depth overview of revenue growth and an analysis of the total business benefits.

In addition to the strategic landscape for commodity pricing and marketing, the FIDO Authentication ‘ industry research also provides key players.

This is a new post covering the latest impact on the target market. The research report addresses the rapidly evolving market climate as well as the initial and future impact assessment

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