FIDO Authentication Market Size to Surpass USD 9.90 Billion by 2032 | SNS Insider

The FIDO Authentication Market is growing as demand for passwordless, secure login solutions rises, driven by biometrics, public key cryptography, MFA adoption.

AUSTIN, TX, UNITED STATES, February 7, 2025 /EINPresswire.com/ -- The FIDO Authentication Market size was USD 1.5 Billion in 2023 and is expected to reach USD 9.90 Billion by 2032, growing at a CAGR of 23.33% over the forecast period of 2024-2032. Growing demand from the market to ensure password-less and secured authentication is boosting the growth. Cyber-attacks including data breaches, identity thefts, and AI-powered cyber-attacks, businesses as well as customers are resorting to enhanced security, hassle-free user experiences along more complex encryption-based solutions.

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Keyplayers:
SAP – Walldorf, Germany
Oracle – Austin, Texas, USA
DHL Supply Chain – Bonn, Germany
IBM – Armonk, New York, USA
Tata Consultancy Services (TCS) – Mumbai, India
C.H. Robinson – Eden Prairie, Minnesota, USA
JDA Software (Blue Yonder) – Scottsdale, Arizona, USA
XPO Logistics – Greenwich, Connecticut, USA
Kuehne + Nagel – Schindellegi, Switzerland
Siemens – Munich, Germany
Geodis – Levallois-Perret, France
Ryder System – Miami, Florida, USA
Transplace – Frisco, Texas, USA
Manhattan Associates – Atlanta, Georgia, USA
Infosys – Bangalore, India

By Component, FIDO Authentication Devices Capture 51% of Market Share in 2023
The FIDO Authentication Devices segment dominated the market in 2023, holding around 51% of the revenue share. Growing demand for hardware-based security solutions from the sectors like banking, healthcare, and government is boosting the growth of this segment. The FIDO devices, including biometric readers, hardware tokens, and USB security keys, have exceptional protection against cybersecurity threats like identity theft and data breaches.
By Application, Payment Processing Segment Leads FIDO Authentication Market with 55% Revenue Share in 2023
In 2023, the Payment Processing segment accounted for approximately 55% of the FIDO authentication market's revenue share. This dominance is mainly because of the growth in the digital payment’s ecosystem, including mobile banking, e-commerce, and digital wallets. The more online transactions grow, the more these payments need to be secured.

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By Industry Vertical, BFSI Sector Dominates FIDO Authentication Market in 2023, Driven by Need for Secure Financial Transactions
The BFSI sector remains a dominant vertical due to the critical need for secure authentication in financial transactions in 2023. Financial transactions involved are highly sensitive, containing all personal and financial information, so cybercriminals find them quite attractive. Growing digital banking, mobile payments, online trading, and insurance services have increased volumes of sensitive transactions that require tough protection.

By Region, North America Leads FIDO Authentication Market, While Asia-Pacific Emerges as Fastest-Growing Region
In 2023, North America led the FIDO authentication market, capturing a 43% revenue share. Dominated by advanced cybersecurity infrastructure in the finance, healthcare, and enterprise IT sectors, the region continues to show remarkable growth. High mobile usage is a common aspect of a techie populace found in the United States.

Asia-Pacific, on the other hand, has emerged as the fastest-growing region in the FIDO authentication market. The region’s rapid digital transformation, increased internet penetration, and heightened focus on cybersecurity are key factors contributing to this growth.

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