The FIDO authentication solutions revenue totalled US$ 1,238.6 Million in 2022. The overall market is expected to reach US$ 12,059.7 Million by 2033, growing at a CAGR of 23.1% for 2023 to 2033.
Report Attributes | Details |
---|---|
Base year (2022) FIDO Authentication Market Value | US$ 1,238.6 Million |
FIDO A Market Projected year (2033) Value | US$ 12,059.7 Million |
CAGR% (2023 to 2033) | 23.1% |
Top 5 Vendor Market Share | Around 35% |
The demand for FIDO authentication solutions will continue accelerating, increasing competition prevalent in the market. FMI has forecast the top 5 providers to account for around 69.4% of total market in 2022. FIDO Authentication constitutes nearly 15% to global authentication market.
FIDO authentication is a solution that eliminates the need for passwords for authentication and identification purposes and replaces it with various other means for faster and more secure password-less authentication.
Market Statistics | Details |
---|---|
Jan - Jun (H1), 2021 (A) | 22.8% |
Jul - Dec (H2), 2021 (A) | 23.0% |
Jan - Jun (H1),2022 Projected (P) | 23.3% |
Jan - Jun (H1),2022 Outlook (O) | 23.5% |
Jul - Dec (H2), 2022 Outlook (O) | 23.8% |
Jul - Dec (H2), 2022 Projected (P) | 23.6% |
Jan - Jun (H1), 2023 Projected (P) | 24.1% |
BPS Change : H1,2022 (O) - H1,2022 (P) | (+)20 |
BPS Change : H1,2022 (O) - H1,2021 (A) | (+)70 |
BPS Change: H2, 2022 (O) - H2, 2022 (P) | (+)20 |
BPS Change: H2, 2022 (O) - H2, 2022 (A) | (+)80 |
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FIDO Authentication helps businesses in addressing the need for secure application without compromising user convenience. With the use of FIDO authentication solutions and services, organizations can eliminate the weak links in the authentication chain such as traditional passwords and offer enhanced security and customer experience by password less authentication.
Today’s resource-strapped IT departments face tremendous pressure to ensure that endpoints and servers comply with operating procedures, regulations, and security policies. Coupled with this, the growing adoption of digital solutions and technologies is driving the growth of FIDO Authentication products.
The sales for FIDO authentication solutions is estimated to rise at 21.0% CAGR registered during 2018-2022.
FIDO (First Identity Online) Alliance, a non-profit association that includes tech giants such as Apple, Microsoft, and Facebook has been pushing the implementation of stronger security practices during the ongoing COVID-19 crisis. As such, the FIDO U2F (Universal 2nd Factor) security key is being publicized as one of the latest security protocols that enables Internet users to securely access any number of online services through a single physical security key. Such trends are anticipated to create incremental opportunities for companies in the FIDO authentication industry.
The growing adoption of mobile and web applications and growing need for advanced security solutions that help in reducing endpoint attack exposure are fuelling the demand for FIDO Authentication solution and services.
Also, the continuous rise in remote access, cloud-based resources, and mobility solutions is propelling enterprises to adopt for easy-to-manage solutions for reducing endpoint attack exposure which is one of the key factors driving the growth of FIDO Authentication market.
Besides this, the rising trend of “Bring Your Own Device” (BYOD) and increasing data vulnerability against deployment of new applications are also some of key factors propelling the growth of FIDO authentication market.
North America is predicted to remain one of the most attractive markets during the forecast period. According to the study, the USA is expected to account for 82% of the North America market share through 2033. The USA is the largest market for FIDO authentication due to the strong presence of FIDO authentication solution and service providers. This is attributed to the increase in demand for FIDO based authentication solutions in various industries such as banking, financial services, and insurance (BFSI), consumer goods and retail, telecommunication, healthcare, and others.
Also, with the rising remote working trend and growing need to outsmart the advanced security and privacy threats, the demand for FIDO authentication solution is expected to increase in coming years. Hence, the demand for FIDO authentication solutions would increase across the country, during the forecast period.
Demand for FIDO authentication platforms in the United Kingdom is expected to rise at an impressive CAGR of 23.4% over the forecast period. The United Kingdom economy is increasingly powered by big data, platform business models, advanced analytics, smartphone technology and peer-to-peer networks. At the same time, innovation in the financial sector is dramatically changing the markets.
The demand for FIDO authentication solutions is growing in the United Kingdom owing to the continuous increase in adoption of advanced security solutions among the enterprises in the regions to strengthen their IT framework.
The United Kingdom FIDO authentication market is witnessing significant growth opportunities as leading players continue focusing on the expansion of their presence in various verticals, such as BFSI, telecommunication, retail, government/public sector, and manufacturing. Insurance frauds are the major issues faced by European countries.
Rising cases of money laundering and terrorist financing are considered primary threats in the United Kingdom because of which the European Banking Authority (EBA) has declared the fraud management to be the topmost priority for the EU in 2020.
The sales in India is estimated to increase at an impressive rate of around 33% CAGR between 2022 and 2033. India is home to a bustling economy driven by a technology sector providing integration services and product development on a global scale.
This economy serves a population that is more connected by the day. In fact, India has passed the United States and is now the second biggest consumer of the Internet after China. This trend in connecting the previously unconnected and is the major area for the Indian government to proactively create relevant technology regulations, initiatives, policies.
In addition, much of India uses PKI and digital certificates to ensure secure online transactions – this is a bulky and time-consuming process that stands to be vastly improved through FIDO authentication.
Demand for FIDO Authentication solutions in Japan is estimated to total US$ 644.2 Mn by the end of 2033. The FIDO Japan Working Group (FJWG) has been created to address the growing interest in FIDO authentication from stakeholders across a wide variety of industries in Japan who want to reduce fraud risk while providing better, faster user experiences.
By working at a local level, this working group become an effective team within the FIDO Alliance to promote FIDO solutions, improve FIDO awareness and collect regional requirements so FIDO standards can best address the authentication needs of the Japan market.
The Alliance and the FJWG is clearly making an impact, as deployments of FIDO authentication by major organizations has accelerated in Japan (and throughout Asia) since 2016. Most often these deployments utilize FIDO biometric authentication on mobile devices.
Country | BPS Change (H2'22 (O) - H2'22 (P)) |
---|---|
US | (+)21 |
UK | (+)24 |
Japan | (+)19 |
India | (+)26 |
Canada | (+)18 |
The BPS change for H2’22(O)-H2’22(P) was (+)21 units in US because of the growing concerns of cyber-attacks. Technological progress and a shift towards password-less authentication drove the BPS change in UK market of (+)24 units and of (+)19 units in Japan.
Growth in industrialization and economic progress caused a BPS change of (+)26 units in India. Canada displayed a BPS change of (+)18 units because of the growth in the investment in the IT & telecommunication industry.
Based on solution, FIDO U2F authentication devices (Security Keys) is expected to contribute for nearly 47% of the overall share in 2022. FIDO U2F allows online services to augment the security of their existing password infrastructure by adding a strong second factor to user login.
The user logs in with a username and password as before. The service can also prompt the user to present a second factor device (such as a FIDO security key) at any time it chooses. The strong second factor allows the service to simplify its passwords (e.g. 4–digit PIN) without compromising security.
Moreover, the U2F keys give the IT teams a deeper level of security. The use of public key encryption significantly mitigates risks such as identity theft, unauthorized access, man-in-the-middle, and malicious software.
The PKI/credential management application segment is projected to register growth at a CAGR of 26.7% over the coming years. Secure and simple access to digital resources is a fundamental need for organizations.
However, to achieve that can be difficult via public key infrastructure (PKI) alone. FIDO offers an excellent alternative but for many organizations there is a requirement to have more management of the FIDO credential.
PKI and FIDO both offer crypto-based authentication, the most secure method of multi-factor authentication available. FIDO can provide a suitable alternative means of strong authentication to PKI as it combines highly secure crypto based security with a simple standards based approach. This makes it suitable for modern applications, including SaaS, in addition to not having the policy constraints associated with PKI, making it a viable option for contractors and supply chain.
The IT & telecom segment is expected to contribute a revenue share of close to 22% in 2022, and is expected to maintain its dominance in the upcoming years owing to rapid digitization. Telecom companies, which collect and store personal data from millions of customers, are prime targets for hackers.
Telecom companies and service providers continue to evolve service delivery and business processes to online and mobile services, but are constantly trading off fast and easy access with robust authentication security.
Security based on FIDO Specifications turns that around and makes online security a simpler and better user experience while providing stronger security and reducing risks for telecom.
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As organizations around the world are challenged in controlling dynamic and hybrid IT environment, the need for secure mobile or online applications without compromising user convenience is increasing continuously.
Owing to this, most of the leading players in the FIDO authentication technology are coming with advanced and innovative solutions that meets the ever-changing demand from organizations for advanced security and privacy concerns.
Attribute | Details |
---|---|
Forecast Period | 2023 to 2033 |
Historical Data Available for | 2018 to 2022 |
Market Analysis | USD Million for Value |
Key Regions Covered | North America; Latin America; Europe; South Asia & Pacific; East Asia and the Middle East & Africa |
Key Countries Covered | USA, Canada, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Australia & New Zealand, GCC Countries, Turkey and South Africa |
Key Segments Covered | Solution, Application, Enterprise Size, Industry, and Region |
Key Companies Profiled | Aware; OneSpan; HYPR Cor; Yubico; Daon; Thales Group; RSA Security LLC; Movenda; Nok Nok Labs, Inc.; Bluink Ltd.; Century Longmai Technology Co., Ltd.; Raonsecure Co., Ltd.; International Systems Research Co. (ISR); Hypersecu Information Systems, Inc. |
Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
Customization & Pricing | Available upon Request |
The market is estimated to reach US$ 12,059.7 million by 2033.
The market is expected to record a growth of 23.1% through 2033.
North America monopolizes the FIDO authentication market.
The growth potential of the India market is 33% CAGR through 2033.
FIDO U2F authentication devices is likely to remain strong through 2033.
1. Executive Summary | FIDO authentication Market 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. Solution Innovation / Development Trends 4. Market - Pricing Analysis 4.1. Types of Pricing Model 4.1.1. Subscription Pricing Model 4.1.2. Perpetual Licensing 4.2. Regional Average Pricing Analysis Benchmark 5. Global Market Demand (in Value in US$ Million) Analysis 2018 to 2022 and Forecast, 2023 to 2033 5.1. Historical Market Value (US$ Million) Analysis, 2018 to 2022 5.2. Current and Future Market Value (US$ Million) Projections, 2023 to 2033 5.2.1. Y-o-Y Growth Trend Analysis 5.2.2. Absolute $ Opportunity Analysis 6. Market Background 6.1. Macro-Economic Factors 6.2. Forecast Factors - Relevance & Impact 6.3. Value Chain 6.4. COVID-19 Crisis – Impact Assessment 6.4.1. Current Statistics 6.4.2. Short-Mid-Long Term Outlook 6.4.3. Likely Rebound 6.5. Market Dynamics 6.5.1. Drivers 6.5.2. Restraints 6.5.3. Opportunity Analysis 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Solution 7.1. Introduction / Key Findings 7.2. Historical Market Size (US$ Million) Analysis By Solution, 2018 to 2022 7.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Solution, 2023 to 2033 7.3.1. FIDO U2F Authentication Devices 7.3.2. SDKs 7.3.2.1. FIDO Client SDK 7.3.2.2. FIDO Server SDK 7.3.3. Services 7.3.3.1. Technology Consulting 7.3.3.2. Integration & Deployment 7.3.3.3. FIDO Certification Services 7.3.3.4. Support Services 7.4. Market Attractiveness Analysis By Solution 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Application 8.1. Introduction / Key Findings 8.2. Historical Market Size (US$ Million) Analysis By Application, 2018 to 2022 8.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Application, 2023 to 2033 8.3.1. Payment Processing 8.3.2. PKI/Credential Management 8.3.3. Document Signing 8.3.4. User Authentication 8.3.5. Others 8.4. Market Attractiveness Analysis By Application 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Industry 9.1. Introduction / Key Findings 9.2. Historical Market Size (US$ Million) Analysis By Industry, 2018 to 2022 9.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Industry, 2023 to 2033 9.3.1. BFSI 9.3.2. Healthcare & Life Sciences 9.3.3. IT & Telecom 9.3.4. Retail & CPG 9.3.5. Government & Defense 9.3.6. Energy & Utilities 9.3.7. Others 9.4. Market Attractiveness Analysis By Industry 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region 10.1. Introduction 10.2. Historical Market Size (US$ Million) Analysis By Region, 2018 to 2022 10.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Region, 2023 to 2033 10.3.1. North America 10.3.2. Latin America 10.3.3. Europe 10.3.4. East Asia 10.3.5. South Asia and Pacific 10.3.6. Middle East and Africa (MEA) 10.4. Market Attractiveness Analysis By Region 11. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 11.1. Introduction 11.2. Historical Market Size (US$ Million) and Trend Analysis By Market Taxonomy, 2018 to 2022 11.3. Current and Future Market Size (US$ Million) and Forecast By Market Taxonomy, 2023 to 2033 11.3.1. By Country 11.3.1.1. USA 11.3.1.2. Canada 11.3.2. By Solution 11.3.3. By Application 11.3.4. By Industry 11.4. Market Attractiveness Analysis 11.4.1. By Country 11.4.2. By Solution 11.4.3. By Application 11.4.4. By Industry 12. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 12.1. Introduction 12.2. Historical Market Size (US$ Million) and Trend Analysis By Market Taxonomy, 2018 to 2022 12.3. Current and Future Market Size (US$ Million) and Forecast By Market Taxonomy, 2023 to 2033 12.3.1. By Country 12.3.1.1. Brazil 12.3.1.2. Mexico 12.3.1.3. Rest of Latin America 12.3.2. By Solution 12.3.3. By Application 12.3.4. By Industry 12.4. Market Attractiveness Analysis 12.4.1. By Country 12.4.2. By Solution 12.4.3. By Application 12.4.4. By Industry 13. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 13.1. Introduction 13.2. Historical Market Size (US$ Million) and Trend Analysis By Market Taxonomy, 2018 to 2022 13.3. Current and Future Market Size (US$ Million) and Forecast By Market Taxonomy, 2023 to 2033 13.3.1. By Country 13.3.1.1. Germany 13.3.1.2. Italy 13.3.1.3. France 13.3.1.4. United Kingdom 13.3.1.5. Spain 13.3.1.6. BENELUX 13.3.1.7. Russia 13.3.1.8. Rest of Europe 13.3.2. By Solution 13.3.3. By Application 13.3.4. By Industry 13.4. Market Attractiveness Analysis 13.4.1. By Country 13.4.2. By Solution 13.4.3. By Application 13.4.4. By Industry 14. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033 14.1. Introduction 14.2. Historical Market Size (US$ Million) and Trend Analysis By Market Taxonomy, 2018 to 2022 14.3. Current and Future Market Size (US$ Million) and Forecast By Market Taxonomy, 2023 to 2033 14.3.1. By Country 14.3.1.1. India 14.3.1.2. Malaysia 14.3.1.3. Indonesia 14.3.1.4. Singapore 14.3.1.5. Australia & New Zealand 14.3.1.6. Rest of South Asia & Pacific 14.3.2. By Solution 14.3.3. By Application 14.3.4. By Industry 14.4. Market Attractiveness Analysis 14.4.1. By Country 14.4.2. By Solution 14.4.3. By Application 14.4.4. By Industry 15. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 15.1. Introduction 15.2. Historical Market Size (US$ Million) and Trend Analysis By Market Taxonomy, 2018 to 2022 15.3. Current and Future Market Size (US$ Million) and Forecast By Market Taxonomy, 2023 to 2033 15.3.1. By Country 15.3.1.1. China 15.3.1.2. Japan 15.3.1.3. South Korea 15.3.2. By Solution 15.3.3. By Application 15.3.4. By Industry 15.4. Market Attractiveness Analysis 15.4.1. By Country 15.4.2. By Solution 15.4.3. By Application 15.4.4. By Industry 16. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033 16.1. Introduction 16.2. Historical Market Size (US$ Million) and Trend Analysis By Market Taxonomy, 2018 to 2022 16.3. Current and Future Market Size (US$ Million) and Forecast By Market Taxonomy, 2023 to 2033 16.3.1. By Country 16.3.1.1. GCC Countries 16.3.1.2. Turkey 16.3.1.3. Northern Africa 16.3.1.4. South Africa 16.3.1.5. Rest of Middle East and Africa 16.3.2. By Solution 16.3.3. By Application 16.3.4. By Industry 16.4. Market Attractiveness Analysis 16.4.1. By Country 16.4.2. By Solution 16.4.3. By Application 16.4.4. By Industry 17. Emerging Countries Market Analysis 17.1. USA Market Analysis 17.1.1. By Solution 17.1.2. By Application 17.1.3. By Industry 17.2. Canada Market Analysis 17.2.1. By Solution 17.2.2. By Application 17.2.3. By Industry 17.3. Mexico Market Analysis 17.3.1. By Solution 17.3.2. By Application 17.3.3. By Industry 17.4. Brazil Market Analysis 17.4.1. By Solution 17.4.2. By Application 17.4.3. By Industry 17.5. Germany Market Analysis 17.5.1. By Solution 17.5.2. By Application 17.5.3. By Industry 17.6. Italy Market Analysis 17.6.1. By Solution 17.6.2. By Application 17.6.3. By Industry 17.7. France Market Analysis 17.7.1. By Solution 17.7.2. By Application 17.7.3. By Industry 17.8. United Kingdom Market Analysis 17.8.1. By Solution 17.8.2. By Application 17.8.3. By Industry 17.9. Spain Market Analysis 17.9.1. By Solution 17.9.2. By Application 17.9.3. By Industry 17.10. BENELUX Market Analysis 17.10.1. By Solution 17.10.2. By Application 17.10.3. By Industry 17.11. Russia Market Analysis 17.11.1. By Solution 17.11.2. By Application 17.11.3. By Industry 17.12. China Market Analysis 17.12.1. By Solution 17.12.2. By Application 17.12.3. By Industry 17.13. Japan Market Analysis 17.13.1. By Solution 17.13.2. By Application 17.13.3. By Industry 17.14. South Korea Market Analysis 17.14.1. By Solution 17.14.2. By Application 17.14.3. By Industry 17.15. India Market Analysis 17.15.1. By Solution 17.15.2. By Application 17.15.3. By Industry 17.16. Malaysia Market Analysis 17.16.1. By Solution 17.16.2. By Application 17.16.3. By Industry 17.17. Indonesia Market Analysis 17.17.1. By Solution 17.17.2. By Application 17.17.3. By Industry 17.18. Singapore Market Analysis 17.18.1. By Solution 17.18.2. By Application 17.18.3. By Industry 17.19. Australia and New Zealand Market Analysis 17.19.1. By Solution 17.19.2. By Application 17.19.3. By Industry 17.20. GCC Countries Market Analysis 17.20.1. By Solution 17.20.2. By Application 17.20.3. By Industry 17.21. Turkey Market Analysis 17.21.1. By Solution 17.21.2. By Application 17.21.3. By Industry 17.22. Northern Africa Market Analysis 17.22.1. By Solution 17.22.2. By Application 17.22.3. By Industry 17.23. South Africa Market Analysis 17.23.1. By Solution 17.23.2. By Application 17.23.3. By Industry 18. Market Structure Analysis 18.1. Market Analysis by Tier of Companies 18.2. Market Share Analysis of Top Players 19. Competition Analysis 19.1. Competition Dashboard 19.2. Competition Deep Dive 19.2.1. Aware 19.2.1.1. Business Overview 19.2.1.2. Solution Portfolio 19.2.1.3. Profitability by Market Segments 19.2.1.4. Key Strategy & Developments 19.2.2. OneSpan 19.2.2.1. Business Overview 19.2.2.2. Solution Portfolio 19.2.2.3. Profitability by Market Segments 19.2.2.4. Key Strategy & Developments 19.2.3. HYPR Cor 19.2.3.1. Business Overview 19.2.3.2. Solution Portfolio 19.2.3.3. Profitability by Market Segments 19.2.3.4. Key Strategy & Developments 19.2.4. Yubico 19.2.4.1. Business Overview 19.2.4.2. Solution Portfolio 19.2.4.3. Profitability by Market Segments 19.2.4.4. Key Strategy & Developments 19.2.5. Daon 19.2.5.1. Business Overview 19.2.5.2. Solution Portfolio 19.2.5.3. Profitability by Market Segments 19.2.5.4. Key Strategy & Developments 19.2.6. Thales Group 19.2.6.1. Business Overview 19.2.6.2. Solution Portfolio 19.2.6.3. Profitability by Market Segments 19.2.6.4. Key Strategy & Developments 19.2.7. RSA Security LLC 19.2.7.1. Business Overview 19.2.7.2. Solution Portfolio 19.2.7.3. Profitability by Market Segments 19.2.7.4. Key Strategy & Developments 19.2.8. Movenda 19.2.8.1. Business Overview 19.2.8.2. Solution Portfolio 19.2.8.3. Profitability by Market Segments 19.2.8.4. Key Strategy & Developments 19.2.9. Nok Nok Labs, Inc. 19.2.9.1. Business Overview 19.2.9.2. Solution Portfolio 19.2.9.3. Profitability by Market Segments 19.2.9.4. Key Strategy & Developments 19.2.10. Bluink Ltd. 19.2.10.1. Business Overview 19.2.10.2. Solution Portfolio 19.2.10.3. Profitability by Market Segments 19.2.10.4. Key Strategy & Developments 19.2.11. Century Longmai Technology Co., Ltd. 19.2.11.1. Business Overview 19.2.11.2. Solution Portfolio 19.2.11.3. Profitability by Market Segments 19.2.11.4. Key Strategy & Developments 19.2.12. Raonsecure Co., Ltd. 19.2.12.1. Business Overview 19.2.12.2. Solution Portfolio 19.2.12.3. Profitability by Market Segments 19.2.12.4. Key Strategy & Developments 19.2.13. International Systems Research Co. (ISR) 19.2.13.1. Business Overview 19.2.13.2. Solution Portfolio 19.2.13.3. Profitability by Market Segments 19.2.13.4. Key Strategy & Developments 19.2.14. Hypersecu Information Systems, Inc. 19.2.14.1. Business Overview 19.2.14.2. Solution Portfolio 19.2.14.3. Profitability by Market Segments 19.2.14.4. Key Strategy & Developments 20. Assumptions and Acronyms Used 21. Research Methodology
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