#FIDO Authentication Industry

[rohitpalan]

FIDO Authentication Industry Hits $1.24 Billion in 2022, Set to Soar to $12.06 Billion by 2033

The FIDO Authentication Market has witnessed remarkable growth, with the total revenue reaching US$ 1,238.6 million in 2022. This impressive growth trajectory is projected to continue, with the market expected to surge to US$ 12,059.7 million by 2033, reflecting a robust Compound Annual Growth Rate (CAGR) of 23.1% from 2023 to 2033.

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Drivers and Opportunities:

The market’s expansion is driven by several factors, including the increasing adoption of FIDO authentication solutions across various industries. The rising concerns over cybersecurity threats have prompted organizations to seek robust authentication methods, further fueling market growth. Additionally, the growing popularity of biometric authentication methods and the proliferation of mobile devices are providing lucrative opportunities for market players to innovate and expand their offerings.

Competitive Landscape – Regional Trends:

The FIDO Authentication Market is highly competitive, with key players constantly innovating to maintain their market position. Regional trends indicate that North America dominates the market, owing to a high concentration of tech-savvy enterprises and stringent security regulations. Europe follows closely behind, driven by increasing awareness of data security. Meanwhile, the Asia-Pacific region presents significant growth potential due to the rapid digitalization of economies and the need for robust authentication solutions.

Restraints:

Despite its rapid growth, the market faces certain limitations, including concerns related to user privacy and data protection. Striking a balance between stringent security measures and user convenience remains a challenge for market players. Moreover, the high initial costs associated with implementing FIDO authentication solutions may hinder adoption among smaller enterprises.

Region-wise Insights – Category-wise Insights:

Regionally, North America leads the FIDO Authentication Market, with a substantial share of the global market. Within categories, biometric authentication solutions are gaining prominence due to their accuracy and user-friendliness. Moreover, the healthcare and financial sectors are witnessing substantial adoption of FIDO authentication, driven by the need for secure access to sensitive data.

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Competitive Landscape

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.

In January 2021, Aware, Inc. announced the launch of AwareABIS, an automated biometric identification system (ABIS) used for large-scale biometric identification and deduplication. Designed to serve among 1-30 million identities or more, AwareABIS supports fingerprint, face and iris modalities, and features a modular architecture that helps security teams configure and optimize the system for civil or criminal applications.

FIDO Authentication Outlook by Category

By Solution:

FIDO U2F 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:

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

[finom-de]

Passkey: Die Grundlage von Finoms Sicherheitsupgrade

Erfahren Sie mehr über die Integration von FIDO2/WebAuthn bei Finom - für eine verbesserte Nutzererfahrung und mehr Sicherheit.

Passkeys (FIDO2/WebAuthn) sind ein notwendiges Tool, um Ihre digitale Sicherheit sicherzustellen. Dem von Verizon durchgeführten 2023 Data Breach Investigations Report zufolge sind 83 % aller Datenlecks finanziell motiviert. 49 % dieser Lecks entstanden aufgrund gestohlener Anmeldedaten. Finom führt Finanztransaktionen auf der ganzen Welt durch. Daher ist es sehr wichtig, die neuesten Technologien einzusetzen, um unsere Kunden zu schützen.

Aber was tun diese Tools eigentlich? In diesem Artikel soll ein umfassender Überblick darüber geboten werden, einschließlich der technischen Aspekte von Passkeys und Details bezüglich ihrer praktischen Implementierung. Außerdem werden die weiteren Auswirkungen auf die Industrie betrachtet.

Passkey: Die Grundlagen 

Um den Wert dieser Technologie begreifen zu können, muss man vorher die technische Seite der Dinge verstehen - Passkeys sind nämlich auch als FIDO2 und WebAuthn bekannt. Der folgende Abschnitt wird kurz darüber aufklären.

Was ist FIDO2?

FIDO2 ist der generelle Begriff für alle passwortlosen, offenen Authentifizierungsstandards. Mit FIDO2 kann man über Plattform-Authentifikatoren - beispielsweise biometrische Scanner - auf Geräte zugreifen. Sie sind in der Regel in das Gerät eingebaut; bekannte Beispiele sind Fingerabdruckscanner oder Gesichtserkennung. Das bedeutet, dass man auch ohne separate Authentifikatoren - beispielsweise USB-Sicherheitsschlüssel, die wie ein physischer Schlüssel funktionieren und an keine bestimmte Plattform gebunden sind - passwortlos auf ein Gerät zugreifen kann. Ermöglicht wird dies durch die FIDO-Allianz, eine offene Industrievereinigung, deren Hauptziel es ist, die Abhängigkeit der Nutzer von Passwörtern zu reduzieren. 

FIDO2 besteht aus zwei Teilen: der Web-Authentifizierung (WebAuthn) und dem Client to Authenticator Protocol (CTAP). In diesem Artikel werden wir uns auf WebAuthn konzentrieren, da diese für den Nutzer relevanter ist.

Was ist WebAuthn?

Die Web Authentication-API wurde von der FIDO-Allianz und dem World Wide Web Consortium entwickelt, um es Servern zu ermöglichen, Nutzer ohne Passwort zu authentifizieren. Stattdessen wird ein öffentlich-privates Schlüsselpaar generiert, welches Authentifikatoren von Anwendungen wie Apples Touch-ID miteinander verbindet, wodurch kein Passwort mehr benötigt wird.

Also, wie funktioniert WebAuthn innerhalb des FIDO2-Frameworks? Eigentlich genauso wie CTAP, dessen Hauptzweck es ist, Passwörter abzuschaffen. Der Fokus von WebAuthn liegt jedoch auf der Serverseite statt der Nutzerseite. Mit WebAuthn ist es wesentlich einfacher für Online-Dienstleister wie Finom, sichere Authentifizierungsmethoden zu verwenden. 

Die Wichtigkeit fortschrittlicher Authentifizierung im Finanzsektor

Wissen Sie noch, dass wir sagten, 83 % aller Datendiebstähle seien finanziell motiviert? Das bedeutet, dass Hacker hauptsächlich den Finanzsektor angreifen. Dem VMWare-Artikel Modern Bank Heists 5.0 zufolge ist es offensichtlich, dass diese Branche einigen einzigartigen Herausforderungen gegenübersteht: 

Hacker werden in ihren Angriffen des Finanzsektors immer kreativer. Statt direkt anzugreifen, implementieren sie inzwischen etwas namens Inselhopping. Sie konzentrieren sich auf einzelne Parteien und angegliederte Dritte, bis sie zum eigentlichen Ziel gelangen. 

Erpressungssoftware erlebt ein Comeback. 74 % aller Banken haben bereits mindestens einen Angriff mit Erpressungssoftware erlebt. In 63 % dieser Fälle wurde das Lösegeld tatsächlich bezahlt. 

Man kann das Problem nicht mit Geld lösen. Viele große Finanzeinrichtungen planen, ihr Budget um bis zu 30 % zu erhöhen. Doch wie man sieht, garantiert das keinen Erfolg. Hacker könnten einfach neue Wege finden, die Systeme zu manipulieren. 

Die Nutzung von Passkeys bei Finom

Da die Situation immer gefährlicher wird, wissen wir, dass die Einhaltung von Industriestandards und der Datenschutz-Grundverordnung nicht ausreichen wird. Daher hat Finom den wichtigen Schritt getan, Passkeys in seine Dienstleistungen zu integrieren. 

Wie implementiert Finom Passkeys?

Um die Dinge so einfach wie möglich zu halten, sorgt Finom dafür, dass Passwörter nicht länger notwendig sind. Das bedeutet, dass man diese nicht länger vergessen oder verlieren kann, was auch die potenzielle Anfälligkeit für Phishing-Attacken und Hackerangriffe reduziert. Statt eines Passworts nutzen wir Biometrie - etwas, das individuell und einzigartig ist und nicht vergessen oder verloren werden kann. 

Wie profitieren Finoms Kunden von Passkeys?

Kunden, denen Benutzerfreundlichkeit wichtig ist, werden Passkeys sicherlich lieben. Man muss sich ein Passwort weniger merken und kann so schnell und problemlos auf seinen Account zugreifen. Das Highlight dieser Technologie ist jedoch die erhöhte Sicherheit. Phishing und nicht autorisierte Zugriffsversuche bleiben erfolglos, da ein Passwort alleine nicht reicht, um sich einzuloggen.

Nutzererfahrung mit Passkeys

Grundsätzlich sind die Nutzererfahrungen mit Passkeys positiv. Sie machen den Login-Prozess reibungslos und sicher. Aus wirtschaftlicher Perspektive reduzieren Passkeys die Betriebskosten für Passwort-Datenbanken und gewährleisten eine hohe digitale Sicherheit. 

Es sollte auch erwähnt werden, dass Passkeys auch bei Verlust eines Handys via Apple-, Google- oder Microsoft-Cloud synchronisiert bleiben. Das bedeutet, dass man einfach ein anderes Gerät nutzen kann, um auf seine Accounts zuzugreifen.

Cybersicherheit entwickelt sich derzeit in Richtung einer breiteren Akzeptanz und Nutzung von Passkeys weiter. Mit dieser Technologie wird der Faktor Mensch eine geringere Auswirkung auf die digitale Sicherheit haben. Dasselbe gilt für Nutzer von Finanzdienstleistungen, einschließlich der Kunden von Finom.

Die Zukunft der Authentifizierung im Finanzsektor

Inzwischen wird biometrische Authentifizierung bereits in vielen Geräten verwendet. Wir erwarten, dass ihre Nutzung sich in Zukunft weiter verbreiten wird, wodurch diese Authentifizierungsmethode sich durchsetzen und zur Norm werden wird. Da immer mehr Unternehmen im Finanzsektor mit Passkeys arbeiten, hoffen wir, dass Passwörter bald der Vergangenheit angehören werden. Was Geldtransfers angeht, werden Passwörter vermutlich großflächig durch Passkeys ersetzt werden. 

Unsere Priorität ist es stets, unsere Dienstleistungen für alle unsere Kunden so bequem und sicher wie möglich zu machen. Wir werden neue Technologien immer im Blick behalten und diejenigen implementieren, die die Sicherheit unserer Dienste verbessern können. Damit hoffen wir, die Sicherheitsstandards aller Kunden des Finanzsektors erhöhen zu können.

Wie können Passkeys die Sicherheit im Finanzsektor verbessern?

Passkeys verringern die Angreifbarkeit von Nutzern, wenn diese auf ihre Accounts zugreifen. Im Finanzsektor ist dies besonders wichtig, da hier das Potenzial für finanzielle Verluste besteht. Einen Passkey zu benutzen, bedeutet, dass kein Passwort geklaut werden kann, wodurch es nicht autorisierten Personen schwerer fällt, Zugriff auf einen Account zu erhalten. 

Hacker werden immer kreativer. Indem wir moderne Authentifizierungsmethoden wie Passkeys verwenden, erhöhen wir unsere Sicherheit und stellen gleichzeitig eine bessere Nutzererfahrung sicher. Deshalb ist es wahrscheinlich, dass Sie diese Technologie bei mehr und mehr Online-Anwendungen unterschiedlicher Unternehmen antreffen werden. Für eine sicherere Zukunft des Finanzsektors und darüber hinaus!

Genießen Sie bei der Nutzung von Finoms Dienstleistungen das höchste Sicherheitslevel

Finom nutzt Passkeys, um sicherzustellen, dass nur autorisierte Personen auf einen Finom-Account zugreifen können. Möchten Sie mehr über Finoms Palette an Finanzdienstleistungen erfahren? Werfen Sie einen Blick auf die Links im Produkte-Tab am Ende der Website. Wenn Sie mehr über den Login-Prozess bei Finom erfahren wollen, können Sie außerdem unseren ausführlichen Guide über Passkeys lesen.

Die Vorteile höherer Zugriffsanforderungen gehen über den Finanzsektor hinaus. Reduzieren Sie das Phishing- und Hacking-Risiko, indem Sie diese modernen Authentifizierungsmethoden auch für Ihre persönlichen Accounts nutzen.

[uvation]

Ditch the Password! Embracing a Secure Passwordless Future 

We've all been there - the frustration of forgotten passwords, the struggle to create complex (yet memorable) combinations, and the constant worry about data breaches. But what if there was a better way? Enter passwordless computing, a revolutionary approach to online security that eliminates the need for passwords altogether. 

The Password Problem: A Growing Threat 

Passwords have long been the cornerstone of online security. But in today's digital landscape, they've become a liability: 

Weak Passwords: Many users create weak, easily guessable passwords, making them vulnerable to brute-force attacks and hacking attempts. 

Password Fatigue: The sheer number of online accounts we juggle leads to password reuse, a dangerous practice that puts all your data at risk if one account is compromised. 

Phishing Attacks: Deceptive emails and websites can trick users into revealing their passwords, granting access to cybercriminals. 

Passwordless Computing: A Secure Alternative 

Passwordless computing offers a more secure and user-friendly approach to authentication. Here's how it works: 

Multi-Factor Authentication (MFA): Instead of relying solely on a password, passwordless systems use a combination of factors for verification. This could involve your fingerprint, facial recognition, a security token, or a one-time code sent to your phone. 

Biometric Authentication: Fingerprint scanners, facial recognition software, and iris scanners leverage your unique physical characteristics for secure login. 

Security Keys: Physical tokens or software-based keys provide an additional layer of security by requiring user possession for login. 

Benefits of Switching to Passwordless Computing 

The advantages of embracing a passwordless future are numerous: 

Enhanced Security: Eliminating passwords removes a major vulnerability and makes hacking attempts significantly more difficult. 

Improved User Experience: No more struggling to remember complex passwords - passwordless systems offer a faster and more convenient login process. 

Reduced IT Costs: Password management and breaches can be a major drain on IT resources. Passwordless systems can help streamline these processes and reduce costs. 

Stronger Compliance: For businesses in regulated industries, passwordless authentication can help meet compliance requirements for data security. 

Transitioning to Passwordless Systems 

Transitioning to passwordless systems involves several steps. Organizations must first assess their current security infrastructure and identify areas where passwordless authentication can be implemented. Next, they should choose the appropriate authentication methods based on their specific needs and user preferences. Finally, it is essential to educate users about the new system and provide ongoing support to ensure a smooth transition. 

Passwordless Login Solutions: A Glimpse into the Future 

Several innovative passwordless login solutions are emerging: 

Fingerprint and Facial Recognition: These technologies offer convenient and secure authentication methods. 

FIDO (Fast Identity Online) Alliance: This industry standard promotes interoperable passwordless login solutions. 

Zero-Knowledge Proofs: This advanced cryptographic technique allows users to verify their identity without revealing their password. 

Passwordless Security Advancements 

The field of passwordless security is continuously evolving, with new advancements emerging regularly. Innovations such as behavioral biometrics, which analyze patterns of user behavior, and decentralized identity systems, which provide secure and private identity verification, are pushing the boundaries of what passwordless technology can achieve. These advancements promise to make digital security even more robust and user-friendly in the coming years. 

The shift to a passwordless computing future is not just a trend but a necessary evolution in digital security. By embracing passwordless authentication methods, organizations can enhance security, improve user experience, and reduce operational burdens. As technology continues to advance, the transition to passwordless systems will become increasingly seamless, paving the way for a more secure and efficient digital world. The era of passwordless computing is here, and it’s transforming how we protect and access our digital lives. 

Whether you’re an individual looking to secure your personal accounts or a business aiming to safeguard sensitive data, understanding and adopting passwordless technology is crucial. The benefits are clear, and the future is passwordless. 

[digitalshiksha01]

Embrace the passwordless future of passkeys

Have digital passwords has been around since the 1960s, and we haven’t come up with a better option… until now. A tech industry-wide group called the FIDO Alliance aims to get rid of them, and for good reason: Passwords are easy to hack, and hard to remember. The smarter method, they argue, is to scrap difficult passwords altogether and use cryptographic keys for authentication instead. These…

[sagarg889]

Cloud Authentication Market Share, Development by Companies Outlook, Growth Prospects & Key Opportunities by 2022-2032

A recent market analysis by Future Market Insights predicts that the cloud authentication market is worth US$ 11,279.2 million in 2022. Over the projection period, a CAGR of 14.4% is expected to be achieved in the market.

The BFSI industry is among those with the highest information sensitivity. Cloud authentication is being aggressively adopted by the sector to safeguard client data and guard against fraud and data breaches.

Most telecom and IT organizations are embracing the Bring Your Own Device (BYOD) trend, which is anticipated to accelerate the market for cloud authentication as a service. E-commerce is also among the most cost-conscious industries and one of the companies that hackers target the most owing to the possibility for payments and the vast amount of financial transactions made using credit and debit cards.

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Adopting cloud authentication is therefore seen as the most secure choice for companies.

Over the years, both large enterprises and SMEs have primarily used cloud authentication. Features like automatic user account provisioning, workflow and self-service management, Single Sign-On (SSO), password management, and access governance are useful for large enterprises.

However, the more authentication elements there are, the longer it takes to complete a single task. Fraudsters can also quickly obtain a user's physical sim card and access IDs by using methods like sim swapping or switching. These factors are anticipated to restrict the growth of the cloud authentication market.

Key Takeaways

The cloud authentication market is likely to have a CAGR of 14.4% during the forecast period.

Historically, the cloud authentication market had a CAGR of 12.6% between 2017-2021.

The value of the cloud authentication market is expected to be US$ 12,753.4 million by 2032.

Based on type, the multifactor authentication segment has a 68% share in the cloud authentication market.

Based on the enterprise size, the very large enterprise (1000+ employees) dominated the market share by 26% in 2021.

North America dominated the cloud authentication market with a share of 32.9% in 2021.

During the forecast period, the cloud authentication market in South Asia & Pacific is likely to showcase the growth of 22.5%.

Immense Prospects For Major Key Players

IBM, Microsoft, CA. Inc, Secureworks Inc, Oracle Corporation, Intel Corporation, Onelogin Inc, Hewlett Packard Enterprise Development LP, Sailpoints Technology Holdings Inc, and Ping Identity are some of the major players in the cloud authentication market.

Manufacturers must focus on creating linked production processes that allow them to pinpoint potential growth opportunities and create new revenue streams.

IBM released the security IAM suite V1.0 in August 2020. Access manager, security identity governance and intelligence, security directory suite, and security identity manager are among the security tools included in the latest version.

Oracle released an improved version of their IAM solutions in November 2020. (Oracle Identity Cloud Service). It enables typical IDaaS use cases, including social login, password-less login, strong and adaptive authentication, bidirectional synchronization to on-prim, and others.

The creation and advancement of open standards for safe authentication are the main objectives of a worldwide business organization known as the FIDO Alliance.

Key Players

IBM

Microsoft

CA. Inc

Secureworks Inc.

Oracle corporation

Intel Corporation

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Key segments

By Type:

Single

Multifactor

By Enterprise Size:

Small Offices (1-9 employees)

Small Enterprises (10-99 employees)

Medium-sized enterprise (100-499 employees)

Large Enterprises (500-999 employees)

Very Large Enterprises (1000+ employees)

By Industry:

Service

Distribution Services

Public Sector

Finance

Manufacturing Resources

Infrastructure

By Region:

North America

Latin America

Europe

East Asia

South Asia and Pacific

Middle East & Africa

[webanditnews]

OPPO Joins the FIDO Alliance, Accelerating the Arrival of a New Era of Passwordless Sign-ins

OPPO Joins the FIDO Alliance, Accelerating the Arrival of a New Era of Passwordless Sign-ins

The replacement of traditional password-based authentication mechanisms with leading passwordless technology will allow OPPO users to benefit from faster, more convenient, and more secure logins across different accounts, services, and platforms OPPO recently announced that it has joined the FIDO (Fast IDentity Online) Alliance, an open industry association with a mission to develop…

[rohitpalan]

FIDO Authentication Market: Projected Revenue Surge by 2033

The FIDO Authentication Market has witnessed remarkable growth, with the total revenue reaching US$ 1,238.6 million in 2022. This impressive growth trajectory is projected to continue, with the market expected to surge to US$ 12,059.7 million by 2033, reflecting a robust Compound Annual Growth Rate (CAGR) of 23.1% from 2023 to 2033.

Get Sample Copy of this Report at: https://www.futuremarketinsights.com/reports/sample/rep-gb-12485

Drivers and Opportunities:

The market’s expansion is driven by several factors, including the increasing adoption of FIDO authentication solutions across various industries. The rising concerns over cybersecurity threats have prompted organizations to seek robust authentication methods, further fueling market growth. Additionally, the growing popularity of biometric authentication methods and the proliferation of mobile devices are providing lucrative opportunities for market players to innovate and expand their offerings.

Competitive Landscape – Regional Trends:

The FIDO Authentication Market is highly competitive, with key players constantly innovating to maintain their market position. Regional trends indicate that North America dominates the market, owing to a high concentration of tech-savvy enterprises and stringent security regulations. Europe follows closely behind, driven by increasing awareness of data security. Meanwhile, the Asia-Pacific region presents significant growth potential due to the rapid digitalization of economies and the need for robust authentication solutions.

Restraints:

Despite its rapid growth, the market faces certain limitations, including concerns related to user privacy and data protection. Striking a balance between stringent security measures and user convenience remains a challenge for market players. Moreover, the high initial costs associated with implementing FIDO authentication solutions may hinder adoption among smaller enterprises.

Region-wise Insights – Category-wise Insights:

Regionally, North America leads the FIDO Authentication Market, with a substantial share of the global market. Within categories, biometric authentication solutions are gaining prominence due to their accuracy and user-friendliness. Moreover, the healthcare and financial sectors are witnessing substantial adoption of FIDO authentication, driven by the need for secure access to sensitive data.

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Competitive Landscape

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.

In January 2021, Aware, Inc. announced the launch of AwareABIS, an automated biometric identification system (ABIS) used for large-scale biometric identification and deduplication. Designed to serve among 1-30 million identities or more, AwareABIS supports fingerprint, face and iris modalities, and features a modular architecture that helps security teams configure and optimize the system for civil or criminal applications.

FIDO Authentication Outlook by Category

By Solution:

FIDO U2F 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:

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

[marketresearchcapture]

The global FIDO Authentication Market is fueled by various factors, according to a detailed assessment explained in the report. This study shows how important in-depth analysis should be, and how it greatly affects the quality of information provided to the readers. Further, the report also takes into account the impact of the novel COVID-19 pandemic on the FIDO Authentication market and offers a clear assessment of the projected market fluctuations during the forecast period.

[digitrenndsamr]

FIDO Authentication Market: Global Forecast Over 2031

Transparency Market Research delivers key insights on the global FIDO authentication market. In terms of revenue, the global FIDO authentication market is estimated to expand at a CAGR of 10.7% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global FIDO authentication market.

FIDO authentication is a set of technology-agnostic security specifications for strong authentication. It significantly supports multifactor authentication (MFA) and public key cryptography, storing personal identification information (PII), such as biometric authentication, locally on the customer’s device in order to protect it. FIDO authentication helps enterprises to alleviate critical risks of a data breach arising due to password mismanagement and weak passwords. It also allows organizations to save on costs related to device provisioning, customer support, and password reset, while delivering a seamless user experience. FIDO authentication standards offer a series of open and scalable specifications such as FIDO2, Universal Second Factor (U2F), and Universal Authentication (UAF), providing more secure and simpler authentication experiences. FIDO authentication standards make user identification easier with multi-factor authentication (MFA), biometric systems, and other alternatives across applications and websites.

Rise in need for advanced security solutions and increase in adoption of web and mobile applications that help in reducing cyber-attack exposure are creating potential demand for FIDO authentication. Moreover, several benefits of FIDO authentication such as ease of use, cost reduction, standardization, and strong authentication are propelling their adoption across businesses.

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FIDO Authentication Market: Dynamics

FIDO authentication services engage in the practice of shielding organizations and their assets from cyber threats and identity fraud, which might impede the stability of the business process. It employs numerous authentication techniques to authorize and validate user credentials in real-time.

FIDO authentication services is a sub-segment of identity and access management that can be defined as the management of individual identities, their authorization, and providing access based on predefined rules. Organizations struggled to meet compliance demands, resulting in deploying solutions limited to few applications and systems.

Enterprises have been adopting FIDO authentication services to alleviate these threats in the last few years, which helps synchronize identities between directories, password, compliance management, and access authentication, delivering access to applications and data of sensitive companies on users preferred mobile devices. These FIDO authentication services not only offer a highly secure environment, but they are cost-effective and have operational efficiency and management control. This is projected to propel the FIDO authentication market during the forecast period.

FIDO standards offer a series of scalable specifications such as FIDO2, Universal Second Factor (U2F), and Universal Authentication Framework (UAF), enabling a stronger, simpler, and more secure user authentication experience. For instance, The Alliance added the FIDO Cooperation and Liaison Program, which invites industry associations worldwide for implementation of FIDO standards.

Furthermore, in May 2020, FIDO Alliance launched LoginWithFIDO, a new website to educate service providers and consumers on the benefits of FIDO simpler, stronger authentication.

In April 2018, The W3C launched FIDO2, the web authentication JavaScript API standard and FIDO’s corresponding Client to Authentication Protocol. Major players of web browsers such as Microsoft Edge, Mozilla Firefox, Chrome, and Google have also implemented the standards on Windows 10, Android, and related Microsoft technologies to have built-in support for FIDO authentication.

Thus, government agencies pushing for standardization of data security protocols is anticipated to propel the FIDO authentication market significantly during the forecast period.

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FIDO Authentication Market: Prominent Regions

North America is significant market for FIDO authentication. The region is home to a considerable number of SMEs and large enterprises and hence, the average deployment of FIDO authentication in enterprises was highest in the region. North America accounted for a prominent share of cyber security spending in 2020. This growing trend of having a strong focus on cyber security by small and medium, and large organizations in the region, clearly shows concerns about data protection. In North America, the U.S. is anticipated to hold a significant share in the market, due to the rising number of cyber-thefts and data breaches as well as strong presence of FIDO authentication vendors across the country, which, in turn, is expected to boost the FIDO authentication market in North America.

However, the FIDO authentication market in Asia Pacific is projected to expand at a robust pace during the forecast period. In the region, large enterprises are expected to adopt these solutions at a higher rate. Furthermore, governments in APAC countries are focused on the adoption of authentication across verticals. Asia Pacific has emerging economies that are emphasizing on enhancing cybersecurity with passwordless authentication. This, in turn, is anticipated to boost the FIDO authentication market during the forecast period.

FIDO Authentication Market: Key Players

Key players operating in the global FIDO Authentication market are Aware, Inc., Cardcontact Systems GmbH, Daon, Futurex, Huawei Device Co., Ltd., HYPR Group, LoginID, Movenda, OneSpan, RSA Security LLC, Swift, Thales Security, Ultra Electronics, Utimaco GmbH, and Yubico.

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Global FIDO Authentication Market: Segmentation

FIDO Authentication Market, by Component

FIDO     Authentication Devices

FIDO     Authentication SDKs

Support     Services

FIDO Authentication Market, by Application

Payment     Processing

PKI/Credential     Management

Database     Encryption

Application     Level Encryption

Others

FIDO Authentication Market, by Vertical

Banking     and Financial Services

Government

Technology     and Communication

Industrial     and Manufacturing

Energy     and Utility

Retail     and Consumer Products

Healthcare     & Life sciences

Others

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Cyber Security as a Service Market – The threat quotient over the internet has increased phenomenally over the years. According to a survey by RiskBased, data breaches exposed nearly 4.1 bn records only in the first 6 months of 2019. A study by Ponemon Institute stated that security breaches have expanded by 11 percent since 2018 and 67 percent since 2014. These statistics highlight the necessity to keep cybersecurity measures in place for avoiding any untoward cases of breaching. Such advancements lead to an increase in the growth rate of cyber security as a service market.

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[binaryblogger]

Episode 1196 - Passwordlesss Authentication Is One Step Closer, Major Announcement

Passwordless authentication is the future of the industry and it's taken one step closer to being widespread. This episode talks about an announcement Apple, Microsoft, Google had in partnership with the FIDO Alliance.

Source - https://fidoalliance.org/

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[reportwire]

Apple, Google, and Microsoft Team Up to Vanquish the Password

Apple, Google, and Microsoft Team Up to Vanquish the Password

We’ve been promised the end of password-based logins on the internet for a very long time, but now it seems that promise may finally be fulfilled. The FIDO Alliance, an industry group aimed at standardizing authentication methods online, announced that its passwordless sign-on method has received support from the big browser builders: Apple, Microsoft, and Google. That means that later this year…

[nouh123]

Passwords on the internet: soon the end of the ordeal? - 06/05/2022 at 08:51

Passwords on the internet: soon the end of the ordeal? – 06/05/2022 at 08:51

A common authentication system, dubbed FIDO, could be rolled out within a year, industry giants say. (illustration) (AFP / KIRILL KUDRYAVTSEV) “Forgot your password?”. The hassle of unique codes to remember could soon be history within a year thanks to the “FIDO” system. Google, Apple and Microsoft announced an agreement on Thursday May 5 to build this protocol, which allows you to…

[macnews-org]

Apple, Google, and Microsoft to extend support for FIDO ‘passwordless’ sign-in

Apple, Google, and Microsoft to extend support for FIDO ‘passwordless’ sign-in

In early 2020, Apple joined the FIDO Alliance, an open industry association created to reduce the interoperability of authentication methods and reduce reliance on traditional passwords. Now Apple, Google, and Microsoft have committed to expanding support for the FIDO Standard, moving toward a universal “passwordless” sign-in method. more… The post Apple, Google, and Microsoft to extend support…