The password management market was valued at slightly above * billion U.S. dollars in 2022 and was expected to exceed * billion U.S. dollars in revenue by 2025. However, the past few years have seen the emergence of new and more secure authentication methods such as passwordless security or multi-factor authentication. Despite the instability that password security currently has, it remains the most used security method worldwide to grant access to company infrastructure. Password security When it comes to online credentials storage habits in 2021, the most common method is still to remember them by heart or write them down on paper. It is no wonder that individuals find it more challenging to keep track of all their online accounts nowadays. Consequently, people tend to reuse the same credentials when creating new online accounts in order to make passwords easier to remember. In 2021, the most frequent password encountered over a 45-day period across the Internet of Things (IoT) devices was admin, used nearly ** million times. Multi-factor authentication (MFA) Simply put, MFA grants the user access to a website or application only after successfully presenting at least * pieces of evidence that could identify the user to an authentication mechanism. Depending on the desired security level, MFA can provide several authentication types. One of the most common types of MFA used by companies worldwide is an SMS code or a one-time password (OTP). In 2021, Philippines registered the highest increase in MFA volume, at over *** percent. By contrast, Israel’s MFA volume dropped by ** percent.

In today's digital landscape, the security of online accounts has become a critical concern, and the Weak Password Checking System market has emerged as a vital segment within cybersecurity. These systems are designed to identify and flag weak, commonly used, or compromised passwords, thereby helping organizations a

Nearly seven out of ten respondents from countries across the world created stronger passwords for their financial accounts. At the same time, 31 percent of respondents had an increased password security for their work-related accounts.

According to a 2023 survey, approximately ** percent of Canadians stated they have their password memorized, while ** percent of respondents wrote the password down on paper. Furthermore, ** percent responded positively to device requests to automatically store passwords.

The authentication method most used by companies worldwide was username and password, mentioned by nearly ** percent of respondents. At the same time, **** of respondents stated that their company was using software tokens such as one-time passwords. Overall, over ********** of respondents indicated using a biometric authentication method.

A combination of email or username and password was the most preferred authentication method for all respondents when it came to shopping or retail accounts in 2021. At the same time, the majority of respondents who chose password based authentication were over 50 years old.

The Password Electronic Safe market has emerged as a pivotal segment within the broader security industry, reflecting an increasing demand for enhanced safeguarding of valuables and sensitive information. As personal and corporate security concerns grow, these advanced storage solutions provide users with an efficie

In 2023, ** percent of the Poles surveyed replied that they create strong and secure passwords themselves. However, only **** percent of those surveyed used password generators and managers.

In today's digital age, the Password Management market is rapidly becoming an essential component of cybersecurity strategies for individuals and businesses alike. As more organizations adopt digital transformation initiatives, the need for secure password management has never been more critical. Password management

In 2023, nearly ** of respondents among IT professionals worldwide considered passwordless authentication to be somewhat or far more secure than traditional passwords. By contrast, only around ** percent of respondents thought that traditional passwords were far more secure than passwordless authentication solutions.

The Commercial Password Hardware market has been experiencing significant growth as organizations increasingly prioritize cybersecurity measures to protect sensitive information and intellectual property. This market encompasses a wide range of devices designed to enhance security through password management and enc

The Password Management Tools Software market has evolved significantly over the past decade, driven by the growing need for robust cybersecurity measures across industries. In an age where data breaches and identity theft are rampant, organizations are increasingly recognizing the value of secure password managemen

In 2024, the most secure authentication method to sign in to online accounts, apps, and smart devices was biometrics, for example fingerprint or face scan, as highlighted by nearly ** percent of respondents among consumers in various countries worldwide. Using a complex password ranked second, mentioned by ** percent of respondents.

According to Cognitive Market Research, the global Mobile User Authentication market size is USD 1952.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 23.50% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 780.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 21.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 585.66 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 449.01 million in 2024 and will grow at a compound annual growth rate (CAGR) of 25.5% from 2024 to 2031.
Latin America had a market share for more than 5% of the global revenue with a market size of USD 97.61 million in 2024 and will grow at a compound annual growth rate (CAGR) of 22.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 39.04 million in 2024 and will grow at a compound annual growth rate (CAGR) of 23.2% from 2024 to 2031.
The Two-Factor Authentication held the highest Mobile User Authentication market revenue share in 2024.

Market Dynamics of Mobile User Authentication Market

Key Drivers for Mobile User Authentication Market

Surging Mobile Device Usage to Increase the Demand Globally

The pervasive use of smartphones and tablets has caused an urgent demand for robust authentication methods to safeguard non-public and expert facts. With those gadgets serving as relevant repositories for sensitive statistics, secure admission is vital to save you from unauthorized breaches. Biometric authentication, which includes fingerprint and facial reputation, has gained prominence for its reliability and comfort. Additionally, multi-aspect authentication (MFA) combining passwords with biometrics or OTP (one-time password) verification offers enhanced protection layers. As cellular gadgets continue to conform and combine deeper into daily activities, the development and adoption of stringent authentication protocols stay paramount to mitigate risks associated with data breaches and identity robbery, making sure customers can expectantly navigate their digital lives.

Growing Security Threats to Propel Market Growth

The escalation of cybercrime, encompassing phishing attacks and information breaches, underscores the critical need for robust cell authentication answers among both corporations and individuals. As smartphones and tablets increasingly save and get the right of entry to sensitive facts, they become prime objectives for malicious actors in search of unauthorized access. Effective cellular authentication strategies include biometric verification (along with fingerprint or facial popularity) and multi-element authentication (MFA), combining passwords with extra security layers like OTPs (one-time passwords) or hardware tokens. These measures help give a boost to defenses against evolving cyber threats, ensuring that entry to to non-public and enterprise data stays steady. Implementing and continuously updating these authentication answers are critical steps in mitigating dangers associated with the growing sophistication of cyberattacks in the modern-day interconnected digital landscape.

Restraint Factor for the Mobile User Authentication Market

Privacy Concern to Limit the Sales

The use of biometric facts for authentication functions has sparked an ongoing debate over privacy worries. While biometrics provide comfort and strong protection, storing sensitive non-public records inclusive of fingerprints or facial features on gadgets raises apprehensions among customers. The ability dangers consist of unauthorized get admission to biometric templates and the misuse of captured facts for identification theft or surveillance purposes. Additionally, there are issues about the permanence and irreversibility of biometric statistics as soon as compromised. To address those problems, builders, and policymakers suggest for stringent security features, encryption protocols, and transparent user consent rules. Balancing the advantages of biometric authentication with safeguarding personal privacy is essential in fostering the belief and adoption of these technologies in the digital age.

Impact of Covid-19 on the Mobile User Authentication Market

The COVID-19 pand...

The Locker Electronic Password Lock market has emerged as a critical segment within the broader security solutions industry, providing innovative access control systems that cater to a diverse range of applications, from educational institutions and gyms to corporate offices and personal storage. These advanced lock

As of *************, a survey among Americans revealed that nearly ********* of respondents kept their passwords safe by using FaceID, while ** percent used a password manager. By contrast, only ** percent of respondents reported using generated passwords.

The Single Factor Authentication System market plays a crucial role in enhancing security measures across various industries by simplifying access controls for users. This system, which typically relies on one method of identity verification-such as a password or a security token-focuses on providing a streamlined u

In 2023, ** percent of respondents among IT and cybersecurity leaders in the United States reported using a Privileged Access Management (PAM) solution to manage their workplace passwords. In addition, over half of respondents stated that their company used an enterprise password management solution to create, store, and change passwords. On the other hand, ** percent of respondents had already replaced traditional passwords with biometrics or passkeys at their workplace.

The One Time Password (OTP) Display Card market has emerged as a critical component of secure authentication solutions in an increasingly digitized world. As organizations move towards robust security protocols to safeguard sensitive data and protect against cyber threats, OTP display cards have gained prominence fo

In 2021, around ** percent of adult respondents in the Philippines stated that they thought they had a moderate level of security of their social media passwords. In comparison, ** percent of respondents said that they think their social media passwords had strong level of security. Facebook is the favorite social media platform among internet users in the Philippines in that year.