Passwordless authentication market to reach $6.6B by 2025
The passwordless authentication market may reach $6.6 billion by 2025, experiencing a compound annual growth rate of 31.1 percent compared to 2020 figures.
The analysis comes from a new report by KuppingerCole, which claims more passwordless systems are being adopted because several vendors are selling competitive products across various sectors.
These vendors are pushing the market forward by providing a consistent login experience across all devices, introducing frictionless user experiences, including integrated authentication approaches, and ensuring that no passwords or password hashes are traveling over networks.
Many of these companies have also developed specialized risk-based passwordless products and services that integrate with customers’ on-premises identity and access management components and support migrating legacy applications to modern authentication systems.
The new data by KuppingerCole is bolstered by integrations and partnerships that some passwordless vendors announced or completed this week.
1Kosmos integrates with Ping Identity’s DaVinci
The first of these is 1Kosmos, which announced a collaboration that will enable Ping Identity customers to implement biometric, identity-based authentication and passwordless access using 1Kosmos’ BlockID for with employees, customers and citizens.
Further, the partnership will see 1Kosmos join Ping Identity‘s global technology partner program.
“1Kosmos is committed to delivering transparent identity verification and passwordless solutions that support an organization’s existing identity infrastructures, including partner solutions like PingOne DaVinci,” says Javed Shah, vice president of product management for 1Kosmos.
The integration comes weeks after 1Kosmos won an innovator award at Sinet16.
Transmit Security MFA available in AWS marketplace
Identity vendor Transmit Security has also announced an integration this week, with its multifactor authentication and account protection services now available in Amazon’s Web Services (AWS) Marketplace.
Transmit Security is also an advanced technology partner in the AWS partner network. Integrating its biometric selfie technology with liveness detection and government document verification will help businesses build secure and smoother identity experiences.
“We’re proud to expand upon the services that AWS provides to product teams, giving them additional features that make it faster to open new accounts and easier to log in with passkeys or other strong authentication methods while protecting customers from account takeover and other threats,” says Niv Goldenberg, chief product officer at Transmit Security.
Transmit Security updated its biometric passwordless authentication suite in August, also announcing financial growth.
FusionAuth now supports WebAuthn passwordless biometrics
The final integration announced this week is from FusionAuth, a developer-focused authentication platform.
The company said it would start supporting biometric passwordless login using WebAuth, enabling developers to create software with built-in fingerprint and facial recognition capabilities. These will be available directly on mobile and laptop devices without needing any installed apps.
“Developers and SaaS providers already use FusionAuth to securely authenticate millions of their end users,” explains Brian Pontarelli, chief technology officer and founder. “We just gave them an easy option to use biometrics and eliminate stolen password risks.”
WebAuthn is a World Wide Web Consortium and FIDO Alliance standard for passwordless login.
Certification testing for FIDO standards was also discussed in a presentation at Authenticate 2022 last week.