PUBLISHER: The Business Research Company | PRODUCT CODE: 1686390
PUBLISHER: The Business Research Company | PRODUCT CODE: 1686390
Fast Identity Online (FIDO) authentication comprises open standards and specifications aimed at enhancing online security through a robust and user-friendly authentication method. This approach replaces traditional password-based authentication methods, which are often susceptible to security risks such as phishing attacks, credential theft, and password reuse.
The primary types of FIDO authentication include password authentication, biometric authentication, hardware token-based authentication, and others. Password authentication is a method of verifying a user's identity before granting access to a system. It involves FIDO authentication devices and FIDO authentication software development kits (SDKs) deployed in both cloud-based and on-premises modes. The organizations involved range from small and medium-sized enterprises to large enterprises, spanning sectors such as banking and finance, healthcare, government and defense, e-commerce, information technology, and telecommunications, among others.
The fast identity online (FIDO) authentication market research report is one of a series of new reports from The Business Research Company that provides fast identity online (FIDO) authentication market statistics, including fast identity online (FIDO) authentication industry global market size, regional shares, competitors with a fast identity online (FIDO) authentication market share, detailed fast identity online (fido) authentication market segments, market trends and opportunities, and any further data you may need to thrive in the fast identity online (FIDO) authentication industry. This fast identity online (FIDO) authentication market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The fast identity online (FIDO) authentication market size has grown exponentially in recent years. It will grow from $1.93 billion in 2024 to $2.39 billion in 2025 at a compound annual growth rate (CAGR) of 23.8%. The growth in the historic period can be attributed to password vulnerabilities, increasing cybersecurity threats, consumer demand for user-friendly security, push for biometric authentication, industry standards and alliances.
The fast identity online (FIDO) authentication market size is expected to see exponential growth in the next few years. It will grow to $5.72 billion in 2029 at a compound annual growth rate (CAGR) of 24.4%. The growth in the forecast period can be attributed to continued mobile device expansion, consumer demand for convenience and security, industry standards and interoperability, proliferation of iot devices, migration to cloud-based services. Major trends in the forecast period include continued R&D in authentication technologies, embrace of multi-factor authentication (MFA), focus on privacy-enhancing technologies, expansion of FIDO authentication standards, adoption of webauthn standard.
The rising incidence of cyber threats is projected to drive the growth of the fast identity online (FIDO) authentication market in the coming years. Cyber threats encompass various dangers and risks posed by malicious activities aimed at compromising data through tactics targeting computer systems, networks, and digital information. FIDO authentication mitigates these threats by eliminating the need for passwords, offering robust authentication methods, and storing biometric data locally. This results in fast and secure logins, supported by cryptographic credentials that remain on the user's device. For instance, in November 2023, the Australian Signals Directorate, a federal agency, reported in its 2023 ASD Cyber Threat Report that nearly 94,000 cybercrime reports were received during the 2022-23 financial year, representing a 23% increase compared to the previous year. Thus, the surge in cyber threats is propelling the growth of the FIDO authentication market.
The increasing use of web and mobile applications is anticipated to drive the growth of the fast identity online (FIDO) authentication market in the future. Web applications are software programs that function within web browsers, while mobile applications are specifically designed for smartphones and tablets. FIDO authentication facilitates the adoption of these applications by offering secure, password-less access options that improve user convenience and enhance cybersecurity. For example, in August 2023, RipenApps Technologies, an India-based software company, reported that global consumer spending on mobile applications reached $129 billion in 2022. Additionally, mobile advertising experienced growth, reaching $336 billion, reflecting a 13.8% increase compared to the previous year. Therefore, the rising adoption of web and mobile applications is fueling the growth of the FIDO authentication market.
Major companies in the FIDO authentication market are concentrating on developing innovative technologies, including cloud-based authentication solutions, to offer reliable services to customers. Cloud-based authentication solutions utilize a cloud-based infrastructure to authenticate users securely. For example, AuthenTrend Technology Inc., a Taiwan-based fingerprint-enabled authenticator company, launched AT.AuthFi for FIDO authentication in March 2022. AT.AuthFi enhances security, resists phishing attacks, and supports password-less login and two-factor authentication. It provides a monthly billing cycle for usage and offers a fully manageable FIDO cloud server API and administration dashboard. These solutions simplify FIDO integration for administrators and enable secure, convenient password-less logins.
In April 2024, Entrust Corp., a US-based software company, acquired Onfido for an undisclosed amount. This acquisition is intended to enhance Entrust's FIDO-compliant identity authentication solutions by incorporating Onfido's advanced AI-powered identity verification technologies, which will improve secure, passwordless, and multi-factor authentication capabilities. Onfido is a UK-based technology company specializing in digital identity verification and authentication solutions.
Major companies operating in the fast identity online (FIDO) authentication market report are Google LLC, Microsoft Corporation, Amazon Web Services Inc., Deloitte Touche Tohmatsu Limited, Cisco Systems Inc., Advanced Card Systems Ltd., NEC Corporation, Vodacom Group Limited, EOH Holdings, IDEMIA, Gentex Corporation, HID Global Corporation, RSA Security LLC, ELAN Microelectronics Corporation, OneSpan, Yubico Inc., Feitian Technologies Co. Ltd., Axell Corporation, Duo Security Inc., Daon Inc., Entrust Datacard Corporation, Aware Inc., Azimuth Labs Pte Ltd., Bit4id s.r.l., BIO-key International Inc., HYPR Corp., Merchant logo Ensurity Technologies Private Limited, Nok Labs Inc., ByStamp, Accura Scan SDK
North America was the largest region in the Fast identity online (FIDO) authentication market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fast identity online (fido) authentication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the fast identity online (fido) authentication market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The fast identity online (FIDO) authentication market includes revenues earned by entities providing services such as technology consulting, FIDO certification services, support services, multi-factor authentication (MFA), phishing prevention, and enterprise solutions. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The FIDO authentication market also consists of sales of biometric tokens and USB dongles, smart cards, IoT devices, and operating systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Fast Identity Online (FIDO) Authentication Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on fast identity online (fido) authentication market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for fast identity online (fido) authentication ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The fast identity online (fido) authentication market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.