Post by raihanali747 on Jan 6, 2024 5:58:44 GMT
As data breaches become more common, it's clear that passwords alone won't do the trick. Organizations are stepping up their game by implementing additional security measures to protect accounts. Two-factor authentication (2FA) and multi-factor authentication (MFA) are widely used methods that require users to enter a one-time code, usually sent via SMS or email, in addition to regular login credentials.
Passwordless security goes one step further by providing account access through biometrics, hardware tokens, and other innovative means. Here are some interesting statistics: 46% of IT professionals use two-factor authentication to log into work accounts. 11 Among organizations that require this additional level of security, 28% rely on SMS codes . However, not everyone is happy with SMS authentication, as 54% of IT professionals find it disruptive to workflow and 47% find it annoying. eleven The passwordless authentication market is expected to reach a staggering $53 billion by 2030. 12 This approach allows users to access their accounts using various methods such as fingerprint scanning, hardware tokens, SMS codes and more.
The market was valued at $12.79 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 16.7% to $53.64 billion by 2030. An overwhelming 87% of IT professionals believe that moving to a passwordless infrastructure is important for improving security. Phone Number List Despite this recognition, 80% of organizations still admit to using passwords in their work. 13 While 80% of organizations continue to rely on passwords for certain types of infrastructure access, 60% have moved to passwordless authentication methods to some extent 13 : % Authentication type 60% use of hardware security tokens 48% use of one-time email links 43% using certificate-based authentication 42% using public/private key pairs About 30% of users have experienced security breaches as a direct result of using weak passwords. 25 Additionally, about 20% of passwords are cracked using cracking techniques.
Passwordless security goes one step further by providing account access through biometrics, hardware tokens, and other innovative means. Here are some interesting statistics: 46% of IT professionals use two-factor authentication to log into work accounts. 11 Among organizations that require this additional level of security, 28% rely on SMS codes . However, not everyone is happy with SMS authentication, as 54% of IT professionals find it disruptive to workflow and 47% find it annoying. eleven The passwordless authentication market is expected to reach a staggering $53 billion by 2030. 12 This approach allows users to access their accounts using various methods such as fingerprint scanning, hardware tokens, SMS codes and more.
The market was valued at $12.79 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 16.7% to $53.64 billion by 2030. An overwhelming 87% of IT professionals believe that moving to a passwordless infrastructure is important for improving security. Phone Number List Despite this recognition, 80% of organizations still admit to using passwords in their work. 13 While 80% of organizations continue to rely on passwords for certain types of infrastructure access, 60% have moved to passwordless authentication methods to some extent 13 : % Authentication type 60% use of hardware security tokens 48% use of one-time email links 43% using certificate-based authentication 42% using public/private key pairs About 30% of users have experienced security breaches as a direct result of using weak passwords. 25 Additionally, about 20% of passwords are cracked using cracking techniques.