FIDO (Fast IDentity Online) is an open authentication standard designed to provide secure and convenient authentication for online services. FIDO aims to replace traditional passwords with stronger, easier-to-use forms of authentication, such as biometrics (e.g. fingerprints, facial recognition) and security keys.
The standard is designed to be device and platform-agnostic, allowing for seamless authentication across multiple devices and services. FIDO authentication provides increased security compared to passwords, as the authentication credentials are stored on the user’s device and never shared with the service provider. Key players in the FIDO authentication market include Yubico, Google, Microsoft, and Feitian.
In 2022, the revenue from FIDO authentication solutions reached US$ 1,238.6 Mn. The entire market is anticipated to increase at a CAGR of 23.1% from 2023 to 2033, reaching US$ 12,059.7 Mn. The market’s level of competitiveness will rise as the demand for FIDO authentication solutions keeps growing. According to the FMI projection, the top 5 providers would control roughly 69.4% of the market in 2022. Nearly 15% of the worldwide authentication market is made up of FIDO authentication.
The use of passwords for authentication and identification is no longer necessary thanks to FIDO authentication, which substitutes a number of other methods for quicker and more secure password-less authentication.
The market has FIDO (First Identity Online) Alliance, which could be referred to as one of the non-profit organizations including tech giants like Microsoft, Apple, and Facebook, is pressing for implementing much stronger security, especially when ‘work from home’ is the ‘new normal’. FIDO U2F (Universal 2nd Factor) security key is getting publicized as a security protocol facilitating secured access to Internet users through single physical security key. Trends like these are certainly helping the FIDO authentication market to grow inadvertently in the upcoming period.
To Get Sample Copy of Report Visit @ https://www.futuremarketinsights.com/reports/sample/rep-gb-12485
The key players are looking for replacing conventional complex and static passwords with various advanced options of authentication, which are inclusive of PIN and biometrics. Several advantages of FIDO authentication like reduction of costs, standardization, and appropriate authentication are driving incorporation of FIDO authentication solutions all across.
There is a rise in cloud-based resources, remote access, and various mobility solutions; which is compelling the enterprises to go for simple-to-manage solutions to lessen exposure to endpoint attack. Trend of BYOD (Bring Your Own Device) coupled with rise in vulnerability of data against deploying novel applications is also expected to propel the FIDO authentication market. Future Market Insights has walked through these findings with future perspectives in its latest market study entitled ‘FIDO Authentication Market’. The diligent team of analysts and consultants is there to execute. Macros as well as micros are being worked upon.
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 and get 30% Off @ 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
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Authentication Technology Innovation / Development Trends
3.2.1. Single Factor Authentication Technology
3.2.2. Two Factor Authentication Technology
3.2.3. Multi Factor Authentication Technology
3.3. Average Pricing Analysis, By Products
4. FIDO Alliance Overview
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com