Passwordless Authentication Statistics


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Steve Goldstein
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Passwordless Authentication Statistics 2023: Facts about Passwordless Authentication outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on Passwordless Authentication, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to form an LLC? Maybe for educational purposes, business research, or personal curiosity, whatever the reason is – it’s always a good idea to gather more information about tech topics like this.

How much of an impact will Passwordless Authentication Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

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Top Passwordless Authentication Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 77 Passwordless Authentication Statistics on this page 🙂

Passwordless Authentication “Latest” Statistics

  • Passwordless provides a significantly easier and more streamlined user experience since 59% of users confess to reusing passwords in order to avoid having to remember several ones and because recovering a forgotten password is an excessively painful task.[1]
  • The University of Birmingham estimates that each password change costs them $150, resulting in a staggering 30,000 lost production hours annually.[2]
  • According to HYPR’s 2019 password survey data, 78% of participants had to change their passwords over the previous 90 days because they forgot them.[2]
  • In the last two years, 24% of security experts said that their firm had experienced credential stuffing or password spraying.[3]
  • A passwordless MFA solution should be able to interface with fraud and risk engines, according to 30% of respondents.[3]
  • 33% of IT departments have already used passwordless authentication, with the APAC region claiming the highest adoption rate at 41%.[3]
  • 41% claimed to use post-it notes, only 28% indicated they use password management software, while 37% claimed they use browser extensions that remember user credentials or auto.[3]
  • 53% of respondents said that carelessly maintained employee usernames and passwords caused company data breaches.[3]
  • 53% of those surveyed stated they use multi or two-factor authentication to safeguard themselves, and 47% of people safeguard their email and social media accounts.[3]
  • 55% of IT security respondents use two-factor authentication to safeguard corporate servers, while just 46% of respondents protect corporate email accounts.[3]
  • Only if a new security practice or technology is simple to use and significantly improves account security is 56% prepared to use it.[3]
  • In order to store and secure their passwords, 59% of respondents claimed that their firms only relied on human memory.[3]
  • According to 61% of respondents, their businesses’ passwordless MFA solution calls for a shared secret, such as an sms code or one.[3]
  • According to 65% of IT security respondents, biometrics would lessen the possibility of compromised employee accounts.[3]
  • According to 67% of it professional respondents and 55% of people, their organizations have a password policy.[3]
  • The majority of authentication factors are utilized as a part of MFA solutions at firms, according to 72% of IT specialists.[3]
  • 90% of respondents said that their firm had been victimized in 2021, and 29% reported seeing credential stuffing.[3]
  • 96% of respondents said that the importance of passwordless MFA to them was due to its ability to prevent credential theft and.[3]
  • The decreased security risk is the most alluring potential benefit of a passwordless employee solution, according to 49% of those polled.[3]
  • Following security questions and passwords, 65% of study respondents ranked one-time passwords as the third most preferred authentication technique.[3]
  • 55% of respondents preferred a means of securing their personal or corporate accounts without having to remember their passwords in order to avoid being unable to access crucial information due to a forgotten password.[3]
  • Despite rising worries about the security of their personal information, 49% of people are strengthening account security and adding extra layers of protection beyond a username and password.[3]
  • The most significant advantage of passwordless employee authentication, according to 35% of respondents, is a decreased strain on IT resources and people.[3]
  • Internal users make up the vast majority of an organization’s user population when a passwordless solution is in place. The internal user population is led by employees working remotely (86%) and employees working onsite (73%), followed by external contractors and partners (43%).[3]
  • In March 2020, 73% of businesses gave their staff members additional training on how to be secure online while doing remote work, with an emphasis on password and credential verification.[3]
  • 45% of respondents claimed they didn’t want to spend a lot of time safeguarding their accounts since it was just a matter of time before they were hacked.[3]
  • Nearly 50% of IT security respondents said that they regularly could not access information necessary for their jobs because they couldn’t access their phones to utilize an authenticator or obtain a code for verification.[3]
  • Just 35% of people and 41% of IT security responders claim that the password policy is carefully followed.[3]
  • 36% of respondents claimed their companies provide voice recognition and biometrics as alternatives to keyboard input.[3]
  • Only 1% of respondents deemed it unimportant, and none deemed passwordless authentication unimportant at all for a zero-trust method.[3]
  • Passwordless adoption is also strongly influenced by regulatory issues, with 40% of respondents naming compliance as a top concern.[3]
  • The integration problems brought up by 41% of respondents as a result of technical complexity were among the many difficulties with passwordless authentication implementation that survey respondents identified.[3]
  • Regarding difficulties in implementing traditional multifactor authentication systems, 49% cited a negative user experience.[3]
  • When asked when they would deploy a passwordless authentication system for staff, 36% of firms claimed they would do so within a year, 25% of respondents indicated they were planning within two years, while 3% said they were looking into potential choices.[3]
  • When asked what considerations businesses give top priority when choosing a passwordless system, ease of assimilation was cited as a crucial criterion by 76% of respondents.[3]
  • When asked which sort of two-factor authentication they use for their personal accounts, 32% of users selected mobile authentication applications, while 27% said they use SMS codes they get on their phones.[3]
  • By 2022, up from 5% in 2018, Gartner forecasts that 60% of major, international businesses and 90% of midsize businesses would employ passwordless solutions in more than 50% of use cases.[4]
  • 81% of data hacking instances are caused by weak, stolen, or poorly managed passwords.[5]
  • 41% of respondents said they had to use internal resources, such as funds and staff time, to deal with the effects of credential mishandling.[6]
  • 70% of survey participants stated they anticipated remote work would raise the cost of a breach.[6]
  • 25% of those surveyed said that choosing the right technology was challenging and that reluctance to change and fear of the unknown hindered adoption.[6]
  • 32% on average of help desk support inquiries are about password problems, which takes personnel away from tasks for which they might be more valuable.[6]
  • According to a poll of IT executives, 60% of corporate customers often depend on multifactor authentication.[6]
  • Respondents praised MFA for its improved capacity for meeting compliance duties, cost savings of 53%, a decrease in credential-related breaches of 52%, and other favorable effects.[6]
  • Comparatively to 45% of respondents using other solutions, 67% of respondents utilizing Okta highlighted fewer or no credential breaches as a significant feature of their selected solution.[6]
  • Around 30% of those who were concerned about data privacy also indicated worry about the strain on IT resources.[6]
  • Only 31% of respondents said they used biometrics, perhaps due to the higher expense of establishing biometric technology.[6]
  • Only 8% of those polled said that improperly managing employee credentials had no negative effects.[6]
  • Almost one-third of IT departments have already used passwordless authentication, with the APAC region having the highest adoption rate at 41%.[6]
  • Passwords are the most popular authentication factor utilized as a part of MFA solutions at enterprises, according to 72% of IT executives.[6]
  • With 53% of respondents citing cost savings as a key advantage of the MFA solutions used at their firms, okta was also competitive with other solutions in this area.[6]
  • The third most mentioned advantage of passwordless authentication, noted by nearly a third, was lessening the pressure on IT resources and people. In all locations, 35% of respondents.[6]
  • With 68% of respondents, respondents in the APAC region had the largest number of respondents who said passwordless authentication was extremely essential.[6]
  • Respondents mentioned integration problems in the greatest proportion (53% in the U.S. and 39% in APAC).[6]
  • The UK’s results were somewhat lower, with 67% of respondents identifying this advantage, but it was still the most often mentioned MFA benefit for UK respondents.[6]
  • 74% of Okta users mentioned secure login using SSO, compared to 67% of users of competing solutions.[6]
  • Protection for distant work compared to 72% of IT executives who deployed solutions from other vendors, 78% of IT leaders who used Okta solutions rated the top perceived advantage of MFA as a benefit.[6]
  • With 72% of respondents depending on them as part of an MFA strategy, the APAC region is likewise in the lead when it comes to authenticator applications.[6]
  • At 58% and 60%, respectively, the U.S. and the UK are almost tied in the use of authenticator applications.[6]
  • The good news is that the majority of respondents’ firms have implemented technology to enable passwordless authentication and almost all respondents to the study (95%).[6]
  • In the APAC area, where 79% of respondents mentioned it, this perceived advantage just edged out security for remote work.[6]
  • 29% of U.S. respondents said it was challenging to choose technology, compared to only 20% in the UK and APAC areas.[6]
  • Passwordless authentication was deemed essential for zero trust by U.S.-based IT executives at the greatest proportion (40% of respondents).[6]
  • In 29% of incidents, credentials were taken; you are still in danger as long as you use passwords, even if your company institutes rules prohibiting writing down or distributing passwords and somehow manages to enforce such policies properly.[7]
  • 56% of breaches were not discovered for months or more, giving hackers plenty of opportunities to steal money, steal intellectual property, and cause mayhem.[7]
  • 65% of company executives either discuss their passwords with others or write them down on personal papers like sticky notes.[7]
  • According to Verizon’s 2019 Data Breach Investigation Report, 29% of breaches included credentials that were stolen.[7]
  • More than 70% of workers re-use passwords people often choose passwords that are easy to guess, even when they don’t reuse them.[7]
  • A passwordless approach was something that 77% of respondents in India said they were considering adopting, compared to under 40% in Japan, Germany, and the United Arab Emirates.[8]
  • Over 80% of data breaches, according to a recent Verizon Data Breach Investigation Report, are caused by weak passwords.[9]
  • Going passwordless, in the opinion of 92% of enterprises, is the future of system access security, and there is a very good reason for this. The advantages outweigh the drawbacks.[10]
  • When everything is said, corporations may save almost $1.9 million by ditching passwords.[10]
  • According to a 2021 Verizon Data Breach Investigation Report, stolen credentials were at blame for 61% of security breaches.[11]
  • Users are said to be delighted and secure by okta’s passwordless authentication solution, which claims to shorten authentication time by 50%, minimize operational expenses associated with password management, and remove threats associated with phishing and credential stuffing.[11]
  • To put it another way, if passwordless security can cut your odds of being compromised by 61%, there is no compelling reason not to explore it.[11]
  • Microsoft estimates that 150 million individuals currently use this password-free feature each month.[12]
  • Passwords are now supported by 99% of services, according to KnowBe4, although alternatives aren’t as prevalent.[12]

Also Read

How Useful is Passwordless Authentication

One of the key benefits of passwordless authentication is, of course, the elimination of the need for users to remember and regularly update complex passwords. With the rise of cyber threats such as phishing attacks and data breaches, traditional passwords have been increasingly scrutinized for their inherent vulnerabilities. Passwordless authentication seeks to address these issues by removing the weak link – the password itself. Whether through biometrics like fingerprints or facial recognition, hardware tokens, or email or SMS verification codes, passwordless authentication offers a variety of options for users to prove their identities without the need for a traditional password.

Not only does this mean fewer headaches for users who struggle to keep track of countless passwords, but it also reduces the potential for security breaches that can occur when passwords are compromised. Without the need to enter a password, users are less likely to fall victim to phishing attempts or use weak, easily guessable passwords that can be exploited by hackers. This shift towards more secure methods of authentication is a crucial step in safeguarding sensitive information and maintaining the trust of users in an increasingly digital world.

Additionally, the convenience factor cannot be overlooked. Passwordless authentication streamlines the login process, making it quicker and easier for users to access their accounts with just a simple gesture or verification code. This can lead to improved user experience and increased efficiency, particularly for organizations that rely on multiple logins throughout the day.

However, despite these advantages, there are still some lingering concerns about the effectiveness and widespread adoption of passwordless authentication. Some critics argue that biometric data used in these systems could be compromised or exploited, raising privacy and security issues. Additionally, the reliance on technology and hardware tokens may introduce new vulnerabilities that could potentially be exploited by cybercriminals.

Furthermore, the cost and resources required to implement passwordless authentication systems could be prohibitive for some organizations, particularly smaller businesses with limited budgets and IT capabilities. As with any new technology, there may be challenges and barriers to widespread adoption, particularly in industries where traditional password authentication is deeply entrenched.

In conclusion, while passwordless authentication holds great promise for bolstering security and simplifying the login process for users, it is not without its challenges and potential drawbacks. As the technology continues to evolve and improve, it will be important for organizations to carefully consider the risks and benefits before making the switch. Only time will tell whether passwordless authentication becomes the new standard in account security or if traditional passwords will continue to hold their ground.

Reference

  1. auth0 – https://auth0.com/blog/analysis-of-passwordless-connections/
  2. sectigostore – https://sectigostore.com/blog/the-pros-and-cons-of-passwordless-authentication/
  3. swisscyberinstitute – https://swisscyberinstitute.com/blog/38-password-security-statistics/
  4. gartner – https://www.gartner.com/smarterwithgartner/embrace-a-passwordless-approach-to-improve-security
  5. infosecurity-magazine – https://www.infosecurity-magazine.com/next-gen-infosec/passwordless-authentications-safe/
  6. okta – https://www.okta.com/resources/whitepaper/idg-report-passwordless-the-future-of-user-authentication/
  7. preveil – https://www.preveil.com/blog/passwordless-authentication-for-email/
  8. statista – https://www.statista.com/statistics/1290586/passwordless-authentication-global-market-size/
  9. stealthlabs – https://www.stealthlabs.com/blog/passwords-clearly-are-vulnerable-lets-embrace-the-passwordless-future/
  10. strongdm – https://www.strongdm.com/blog/passwordless-authentication
  11. techrepublic – https://www.techrepublic.com/article/a-passwordless-future-isnt-close-its-here/
  12. techzine – https://www.techzine.eu/blogs/security/58043/passwordless-how-will-it-change-the-future-of-authentication/

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