Artificial Intelligence
Overall demand for Passwordless Authentication Market is Projected to Grow at a CAGR of 15.3%, Totaling Revenue of US$ 55.7 Bn During the Forecast Period of 2022-32 | Future Market Insights, Inc.
NEWARK, Del, Nov. 03, 2022 (GLOBE NEWSWIRE) — The global password-less authentication market is projected to grow at a robust pace with a phenomenal CAGR of about 15.3% between 2022 and 2032. The global market is expected to be valued at around US$ 13,450.4 Million in 2022 and exceed a valuation of about US$ 55,679.4 Million by 2032. Password-less authentication is known as a type of multi-factor authentication, which expects the users to provide their identity without using passwords as a factor. According to historical estimation, the global password-less authentication market witnessed significant growth registering a CAGR of around 11.4% from 2016 to 2021.
The security process of password-less authentication depends upon a few unique biological characteristics of an individual in order to verify authenticity. There are major factors like improved security and convenient ways of accessing data from anywhere, driving the growth of password-less authentication systems.
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Over recent years, there has been an increase in the penetration of smartphones and several other consumer electronic devices, demanding access to end-user accounts and logins. The rising adoption of password-less authentication for an additional layer of security beyond passwords is another factor driving the growth of the password-less authentication market.
Technological advancements such as the internet of things (IoT) and artificial intelligence in devices such as smartphones and tablets among others are factors driving the growth of password-less authentication solutions. Several companies are nowadays adopting the use of fingerprint authentication and smartcards in their offices which is anticipated to further bolster sales in the global password-less authentication market by 2032.
Key Takeaways
- Security points such as fingerprint sensors and smartcards are paving the way for a smooth flow of data between points that allow for a seamless experience. Enterprises are utilizing facial recognition, voice analysis, and iris recognition to authenticate and verify their employees. In addition to that, the global surge in the adoption of fingerprint recognition and facial recognition within consumer electronics is yet another factor expected to propel the password-less authentication demand over the projection period.
- As per the reports, there are around 80% of hacking-related breaches because of weak and reused passwords. More than 90% of users reuse passwords throughout their work and personal accounts. Due to these reasons, the banking industry is moving towards the implementation of password-less authentication for an additional layer of security for their customer’s accounts.
- Human errors are known as security holes that are unable to get fixed by the IT team. But there are multiple ways through which the IT team can minimize the risk, hence, the pro-security professionals are heavily focusing on the same. The weak link is authentication which is why the authentication systems in the banking sector are adopting, especially as cloud services multiply and there is an increase in danger from weak or stolen passwords. Therefore, the surge in applications of password-less authentication within the banking sector is augmenting the growth of password-less authentication solutions globally.
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Competitive Landscape
Prominent players in the global password-less authentication market is working on deploying the platform as part of an end-to-end access management solution or to integrate with any industry-standard identity provider to continuously authenticate users in enterprise environments. Crucial key market enterprises are focusing on enabling to deliver authentication and SSO across applications, devices, and things, by using automated risk-based behavioral modeling powered by AI and machine learning to authenticate users’ claimed identities.
More Insights into the Password-less Authentication Market
The North American password-less authentication market is anticipated to dominate the global landscape by accounting for around 38.2% of the total market share in 2022. North America is dominating the global market as it contributes the leading shares to the password-less authentication market on the basis of revenue and is expected to register significant growth over a forecast period due to the increasing market competition.
The U.S. comprises the majority of key vendors which offer a wide range of authentication solutions. This is considered a propelling factor for the global password-less authentication market. All the vital end-use industries including healthcare, banking, retail, logistics, consumer electronics, and others are moving towards the adoption of password-less authentication. There is an increase in the adoption of password-less authentication technology in the country and there is a good number of research projects going on.
The European region is expected to account for a total market share of around 21.2% owing to the extensive research and studies which have taken place in the European market over the years.
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Key Segments Covered in the Passwordless Authentication Industry Analysis
By Solution:
- Passwordless Authentication Software
- Services
- Professional Services
- Managed Services
By Authentication Type:
- Single-factor Authentication
- Multi-factor Authentication
By End-use Industry:
- BFSI
- Consumer Electronics
- Logistics
- Government
- Aerospace & Defense
- Healthcare
- Retail
- Others
By Region:
- North America Passwordless Authentication Market
- Latin America Passwordless Authentication Market
- Europe Passwordless Authentication Market
- East Asia Passwordless Authentication Market
- South Asia Passwordless Authentication Market
- Oceania Passwordless Authentication Market
- MEA Passwordless Authentication Market
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
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Artificial Intelligence
THE 2024 GLOBAL EXPLORATION SUMMIT IS ANNOUNCED AT THE 120th EXPLORERS CLUB ANNUAL GALA IN NEW YORK
Porto and Terceira Island to Host the ‘Davos of Exploration’ – The GLEX Summit
NEW YORK, April 24, 2024 /PRNewswire/ — The Explorers Club and Expanding World, are thrilled to announce the fifth edition of The GLEX Summit, known as the ‘Davos of Exploration,’ set to take place from June 15 to 19 on Porto city and Terceira Island in the Azores, Portugal.
This year, Porto will Ignite the summit, followed by two days of discussions and exploration in the historic city of Angra do Heroísmo on Terceira Island. From the depths of the oceans to new space missions, the power and future of exploration will be explored in these two World Heritage cities, deeply connected to the history of exploration.
The 2024 GLEX Summit will revolve around the latest discoveries and groundbreaking missions shaping the future of our planet. Highlights of the summit include the Artemis mission, which plans to send astronauts back to the moon for the first time since 1972, and the role of Space and the Oceans in researching and mitigating the effects of climate change. Notable sessions will also delve into the unfortunate incident of the submersible implosion that took place on Titan and the recording of an episode of the BBC’s acclaimed science comedy show ‘The Infinite Monkey Cage,’ hosted by physicist Brian Cox and comedian Robin Ince.
This prestigious event will bring together over three dozen explorer and scientist legends from around the world. Confirmed physicist and researcher Brian Cox, NASA Chief Scientist James Garvin, Aquanaut Fabien Cousteau, Oceanographer David Gallo, Cosmonaut Mike Massimino, Nasa ISS CapCom Tess Caswell, among many others global Explorers and Scientists.
For further inquiries about The GLEX Summit and press accreditation, please contact:
Marco Barbosa [email protected], +351917345744
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Hillstone Networks delivers advanced Microsegmentation across different verticals..
SANTA CLARA, Calif., April 24, 2024 /PRNewswire/ — Hillstone Networks, a leading provider of cybersecurity solutions, has been included in the Forrester Microsegmentation Solutions Landscape, Q2 2024 report. The report offers an overview of the Microsegmentation market, focused on the vendors who deliver solutions for protection of critical resources, combating ransomware, and contributing to compliance adherence. The report provides security professionals a snapshot of these named vendors, considering factors such as size, geographic focus, and use cases to select the most suitable option for their targeted use cases or needs.
In the Landscape Report, Forrester states that “Zero Trust is all about replacing bodies of implicit trust with explicit policy. In physical and virtual networks, the application of this principle is referred to as microsegmentation…. [It] was one of the first true Zero Trust technologies developed after Forrester published the initial Zero Trust reports.”
Forrester states in the report that the main trend is “organizations are finally getting serious about Zero Trust. Some, proactively, are implementing microsegmentation as part of a Zero Trust strategy or initiative. Others are implementing it because they got hit by ransomware and are trying to avoid it again. But all of them are doing Zero Trust with microsegmentation.”
“Being recognized as a vendor in the Microsegmentation solution landscape underscores for us the pivotal role our technology plays in safeguarding critical assets and thwarting ransomware threats. We believe it reaffirms our commitment to providing cutting-edge security measures built on an innovative and AI-powered platform that help our customers defend against evolving cyber risks, ensuring resilience and trust,” states Tim Liu, CTO and Co-founder at Hillstone Networks.
Hillstone’s Microsegmentation solution provides the following key benefits:
Advanced and extensive Microsegmentation for physical servers, virtual machines, cloud hosts, and containers, seamlessly compatible with multiple platforms.Comprehensive, integrated Layer 4 to 7 security and malware features (Next Generation Firewall, Intrusion Prevention System, AntiVirus, URL filtering, DDoS, and bot defense), and complete vulnerability management across the entire application lifecycle.Distributed architecture for easy scaling and portability.Centralized and comprehensive visibility to reduce gaps in the threat surface.Learn more about Hillstone Networks solutions here.
About Hillstone Networks
Hillstone Networks’ Integrative Cybersecurity approach is based on a visionary, AI-powered, and accessible platform, delivering coverage, control, and consolidation to secure over 28,000 global enterprises.
Media ContactZeyao Hu+1 [email protected]
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Artificial Intelligence
Tetra Pharm Technologies and Glysious Announce Collaboration to Develop Transdermal Combination Drugs Targeting the Endocannabinoid System
The collaboration brings together Tetra Pharm Technologies’ expertise in enabling technology with Glysious’ proprietary transdermal drug delivery system, renowned for its effectiveness, comfort, and convenience.
COPENHAGEN, Denmark, April 24, 2024 /PRNewswire/ — Tetra Pharm Technologies and Glysious are pleased to announce a strategic collaboration aimed at developing a ground-breaking transdermal drug delivery system complementing several of Tetra Pharm Technologies’ pipeline candidates. The joint invention aims to revolutionize transdermal release of “difficult-to-formulate” compounds targeting the endocannabinoid system.
Tetra Pharm Technologies has focused intensively on formulation expertise, that is, how the molecules are effectively integrated with a drug delivery system to reach their desired targets. Glysious has worked rigorously on the development of an adhesive patch for transdermal drug delivery since the company’s incorporation in 2020.
“The Glysious technology enables precision, sustained dosing, and allows for a high drug load and effective emptying of patches. The transdermal patches remain in place and are very comfortable and convenient to use, resulting in improved patient compliance. However, we have identified challenges with standard formulation strategies, not providing acceptable drug release due to shortcomings of the formulation matrix”, says Professor, Dr.Techn. Anne Ladegaard Skov, Chief Scientific Officer, Glysious.
Back in 2023 Glysious and Tetra Pharm Technologies performed early in-vitro feasibility tests, integrating Tetra Pharma Technologies’ proprietary enabling technology for delivery of poorly soluble compounds with Glysious’ patch.
Dr. Morten Allesø, Chief Scientific Officer, Tetra Pharm Technologies, adds: “Although both parties were aware of the uniqueness of our respective technologies, we were positively surprised to find a five-fold increase in performance of our combination product compared to conventional formulation technologies. This is truly remarkable, and we consider it our shared obligation to further advance this technology to the benefit of the patients.”
The objectives of the collaboration include conducting comprehensive in-vitro and in-vivo studies to evaluate the performance and efficacy of the combined drug delivery system. Additionally, Tetra Pharm Technologies and Glysious plan to pursue a common patent for the joint invention, ensuring that their innovative technology remains protected and exclusive.
“We are excited to collaborate with the innovative team in Tetra Pharm Technologies on this transdermal drug delivery system paving the way for commercialization and scaling of the Glysious technology within the pharma segment”, says Stina Bjerg Nielsen, Chief Executive Officer, Glysious.
Martin Rose, Chief Executive Officer, Tetra Pharm Technologies, concludes: “The collaboration represents a unique opportunity to harness the synergies between our respective technologies. By combining our expertise, we aim to develop a transdermal drug delivery system that offers superior efficacy, convenience, and patient compliance, supporting several of our pipeline programs”.
As part of the collaboration, the partners will exchange expertise, knowledge, and resources. In addition, Tetra Pharm Technologies and Glysious will conduct joint research, experiments, and tests as required for the development of a joint patent. The scope of the collaboration is focused on disease indications such as pain, sleep disorders, and appetite regulation.
About Tetra Pharm Technologies
Tetra Pharm Technologies is a Danish biopharmaceutical company established in 2018 with a vision to be a leader in research and development of pharmaceutical drugs for the treatment of diseases related to the endocannabinoid system. For more information, please visit www.tetrapharm.eu
About Glysious
Glysious is a Danish medtech company, incorporated in 2020, that develops patches, creams, spray, and foams with controlled release of active ingredients for cosmetics and life science applications. For more information, please visit www.glysious.com
For further informationJacob SchlundtChief Marketing OfficerTetra Pharm [email protected]+45 51976225
Stina Bjerg NielsenChief Executive [email protected]+45 3053 5393
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