Passwordless Authentication Reduces Risk and Improves User Satisfaction

#PiyushGoyal #TataGroup #Passwordless

Passwordless Authentication Reduces Risk



Rising cyber security threats have opened up a huge market for companies offering passwordless authentication services. One of the easiest ways to infiltrate an enterprise's computer network is through an employee’s account. And more specifically, through password phishing. The user provides some other form of evidence such as a fingerprint, proximity badge, or hardware token code. But the question is how passwordless authentication can help eliminate bad actors and is being increasingly adopted by Indian financial, IT, retail, healthcare, and government services sectors. It also talks about how several corporates have deployed a zero-trust architecture for all its employees globally and their lakhs of managed devices, enabling them to access on-premise and cloud-based applications securely and seamlessly. An IBM survey says, it’s Security X-force survey showed that 82% of the 22,000 global respondents reuse their email and password combinations.



At this time, the passive authentication market is expected to grow at a compound annual growth rate of 25.53% over the analyzed period to reach a market size of $3,089.319 million in 2026 from $628.831 million in 2019. Passive authentication is an advanced form of authentication under which the identification of the user is confirmed without the requirement of any additional specific actions for authentication. In this digital era, the majority of operations have turned to the online channel for better performance. From grocery, cloth, and accessories shopping, to banking and financial services, every industry has paved the way in online channels for a greater customer base. By 2030, India is expected to lead the growth of passwordless authentication in the Asia pacific market along with China and Japan. Growing penetration of smartphones and technologies such as facial and fingerprint reco

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