Market and Buyer’s Guide for Customer Authentication

With the increasing need to protect sensitive data against cyber threats, the core challenge in customer authentication lies in adopting advanced, passwordless technologies to meet business security needs while ensuring consumer ease of use and trust. Customer authentication is not just a technical feature but a cornerstone of business security and customer trust. The market for customer authentication has been evolving rapidly, with technological innovations reshaping traditional security measures. 

Despite the availability of advanced authentication technologies, such as FIDO2 passkeys and biometric systems, many businesses are hesitant to transition from traditional multi-factor authentication (MFA) methods. Concerns about the opportunity cost of change, the complexity of new technologies, and educational barriers for consumers are some of the key challenges faced. Additionally, integrating advanced features into authentication solutions has become a critical requirement, yet many are unsure how to implement these advancements effectively.

According to our latest research, the market for customer authentication solutions is projected to experience significant growth. Liminal forecasts the total addressable market (TAM), which is estimated to grow from $18.0 billion in 2024 to $38.9 billion by 2028 at a compound annual growth rate (CAGR) of 16.6%. This rapid growth highlights the increasing demand to adopt more effective customer authentication solutions.

The Market and Buyer’s Guide for Customer Authentication provides insights into market trends, buyer insights, and notable vendors. An essential guide to exploring customer authentication solutions and new methods that help your business balance trust and security.