GITNUX MARKETDATA REPORT 2024

Authentication Industry Statistics

Authentication industry is projected to grow steadily due to increasing concerns about data security and privacy.

Statistic 1

"As of 2019, 40% of US companies required MFA for employee access to systems,"

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Statistic 2

"In 2020, the password less authentication market was valued at USD 1.1 billion globally,"

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Statistic 3

"As of 2019, the global behavioral biometrics market was valued at USD 871.2 million and is anticipated to reach USD 4,467.4 million by 2027."

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Statistic 4

"61% of company IT teams believe in MFA as one of the most effective security measures."

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Statistic 5

"81% of cyber-attacks leverage stolen or weak passwords, indicating high reliance on authentication."

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Statistic 6

"In 2020, around 41% of businesses adopting biometric authentication."

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Statistic 7

"96% of businesses are either using or planning to use MFA in 2020."

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Statistic 8

"In 2021, 71% of consumers are worried about security of online transactions."

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Statistic 9

"In the healthcare industry, use of biometrics is expected to increase to 30% by 2022."

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Statistic 10

"2 out of 3 customers prefer biometrics over traditional text passwords."

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Statistic 11

"The behavioral biometrics market is expected to grow at a CAGR of 24.5% from 2020 to 2027."

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Statistic 12

"By 2025, at least 80% of all smartphones will have biometric capabilities."

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Statistic 13

"72% of organisations plan to stop using passwords by 2022, with biometrics and machine learning stepping in as replacements."

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