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LoginRadius Releases its Consumer Identity Trend Report 2023: The Continued Rise of Passwordless Login & MFA

LoginRadius, the global customer identity and access management (CIAM) provider, today published its annual identity report titled “Consumer Digital Identity Trend Report 2023”.

The report provides an in-depth analysis of the consumer identity market and offers an exclusive look into global consumer identity trends in 2023.

Additionally, the key findings portrayed the eight core trends around consumer identity, ranging from the preferred authentication methods and preferred identity verification to industry-standard performance benchmarks.

The research was carried out from the data from the LoginRadius CIAM platform by analyzing over 1 billion digital identities from January 01, 2022, to December 31, 2022.

Here are a few findings outlined from the annual Consumer Identity Trends Report 2023:

27.72% of companies use five fields, while 27.91% use six fields on their registration forms.

Of the customers using multi-factor authentication, 46.37% use MFA via an authenticator app, 18.48% use MFA via SMS messaging, and 35.15% use MFA via an email code.

95.82% of companies offer standard login using an email ID, and only 4.18% offer using a username.

Facebook is preferred by 36.98% of users, and Google is preferred by 35.23% of users globally.

“The digital revolution has placed a greater emphasis on customer identity solutions as more businesses recognize the importance of providing secure and streamlined access to their services,” explains Rakesh Soni, CEO and Co-founder of LoginRadius.

“We recognized early on how providing hassle-free and seamless onboarding to users is critical for driving conversions and building customer loyalty,“ adds Soni.

The LoginRadius’ Consumer Digital Identity Trend Report 2023 is recommended for C-suite professionals, IAM Professionals, product managers of B2C companies, or anyone looking to improve customer experience and lead generation strategies.

About LoginRadius

LoginRadius is a leading cloud-based consumer identity and access management (CIAM) solution that empowers businesses to deliver a delightful consumer experience.

The developer-friendly Identity Platform provides a comprehensive set of APIs to enable authentication, identity verification, single sign-on, user management, and account protection capabilities such as multi-factor authentication on any web or mobile application. The company offers open-source SDKs, integrations with over 150 third-party applications, pre-designed and customizable login interfaces, and best-in-class data security products. The platform is already loved by over 500 brands, with a reach of 1.17 billion consumers worldwide.

The company has been named a leading industry player in consumer identity and access management (CIAM) by Gartner, KuppingerCole, and Computer Weekly. Microsoft is a major technology partner and investor.

For more information, visit loginradius.com or follow @LoginRadius on Twitter.