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Industry Landscape
The cybersecurity and digital identity industry is experiencing rapid growth driven by increasing digital transformation, sophisticated cyber threats, and stringent regulatory demands. There's a strong shift towards passwordless authentication (e.g., passkeys) and secure device onboarding, aiming for enhanced security and user experience. Cloud security, AI-driven threat detection, and identity management are key areas of innovation.
Total Assets Under Management (AUM)
Cybersecurity Market Size in United States
~Approximately 200 billion USD (2023 estimate)
(13.8% CAGR)
- Cloud security dominates the market.
- AI and machine learning are key drivers.
- Demand for identity and access management is surging.
Total Addressable Market
Approximately 200 billion
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Passkeys (FIDO Credentials)
Passkeys, based on FIDO standards, enable a more secure, phishing-resistant, and user-friendly alternative to traditional passwords by leveraging cryptographic key pairs tied to devices or cloud services.
AI-Driven Threat Detection
Artificial Intelligence and Machine Learning are increasingly used to analyze vast datasets for anomalies, predict cyberattacks, and automate responses, significantly enhancing defensive capabilities in real-time.
Decentralized Identity (DID)
Decentralized Identity uses blockchain or distributed ledger technologies to give individuals and organizations more control over their digital identities, enhancing privacy and security through self-sovereign identity models.
Impactful Policy Frameworks
NIST Digital Identity Guidelines (NIST SP 800-63-3)
Published by the National Institute of Standards and Technology, these guidelines (latest revision SP 800-63-3 in 2017 with ongoing updates) provide technical requirements for federal agencies implementing digital identity services, including authentication and credential management.
These guidelines heavily influence US federal agencies and private sector companies seeking government contracts, driving adoption of FIDO-aligned strong authentication methods.
Cybersecurity Executive Order 14028 (2021)
Issued by President Biden in May 2021, this executive order aims to improve the nation's cybersecurity and protect federal government networks, emphasizing zero trust architecture and multi-factor authentication.
It mandates the adoption of strong authentication, including FIDO-compliant solutions, across federal agencies and their contractors, accelerating passwordless adoption.
California Consumer Privacy Act (CCPA) and California Privacy Rights Act (CPRA)
The CCPA (2018) and its expansion, the CPRA (2020), grant California consumers robust privacy rights regarding their personal information, including the right to know, delete, and opt-out of the sale of their data.
These acts compel businesses to implement more secure and privacy-preserving identity management practices, indirectly boosting the demand for FIDO's privacy-enhancing authentication solutions.
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