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Global Hardware OTP Token Authentication Market 2016-2020

Global Hardware OTP Token Authentication Market 2016-2020

About Hardware OTP Authentication

Hardware OTP authentication method enables organizations to secure their data with two-factor authentication. The hardware device that is being used is the first step of authentication followed by a security token that is issued to the user to verify the identity of the user. This two-factor authentication method enables secure business transactions and enhances user experience.

Technavio’s analysts forecast the global hardware OTP token authentication market to grow at a CAGR of 8.42% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the global hardware OTP token authentication market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of hardware OTP tokens across the globe.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Hardware OTP Token Authentication Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Gemalto
  • Dell
  • VASCO
  • Symantec
Other prominent vendors
  • Authenex
  • Deepnet Security
  • Entrust
  • FEITIAN Technologies
  • Fortinet
  • HID
  • ID Control
  • Nexus
  • PortalGuard
  • SecuTech
  • SecureMetric Technology
  • Yubico
Market driver
  • Preference for convenience and instant use
  • For a full, detailed list, view our report
Market challenge
  • Rise in adoption of software authentication methods
  • For a full, detailed list, view our report
Market trend
  • Increasing adoption of authentication solutions by SMEs
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2020 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Hardware OTP Token Authentication Market 2016-2020

Technavio recognizes the following companies as the key players in the global hardware OTP token authentication market: Gemalto, Dell, VASCO, and Symantec.

Other Prominent Vendors in the market are: Authenex, Deepnet Security, Entrust, FEITIAN Technologies, Fortinet, HID, ID Control, Nexus, PortalGuard, SecuTech, SecureMetric Technology, and Yubico.

Commenting on the report, an analyst from Technavio’s team said: “The global authentication market includes both software and hardware authentication methods. The organizations that are cost conscious have moved to software authentication methods whereas certain organizations, mostly in the government sector, are continuing with the hardware authentication methods. Now, the vendors are introducing a unified platform, which would allow the use of both hardware and software authentication methods, eliminating the cost involved in shifting from one platform and module to another. Also, users can easily switch from one hardware OTP token authentication solution to another hardware OTP authentication solution. SecureAuths' SecureAuth IdP provides authentication security, single sign-on, and user self-service tools in a unified platform. The introduction of unified platforms is a growing trend in the global hardware OTP token authentication market.”

According to the report, cyber-attacks are increasing, especially against websites where the number of online transactions is significantly high. Hackers are also targeting certain lucrative sectors that have a huge number of online customers. To make online transactions secure, organizations have started using the hardware OTP token authentication method. Hence, the rapid increase in the volume of online transactions acts as a driver for the global hardware OTP token authentication market.

Further, the report states that a major challenge for the hardware OTP token authentication market is the high upgrading and replacement costs of the hardware solutions. The complexity of the network infrastructure has resulted in the procurement of security products of various generations. Hence, obsolescence of technology has resulted in a number of new hardware products being purchased by end-users every time there is a software update. So, the new hardware OTP token products entering the market are not seamlessly integrated with the existing products, irrespective of the specifications, multiple protocol standards, or products from other vendors. Also, the cost of replacing a hardware device in case of software obsolescence and upgrading is very high.

Companies Mentioned

Gemalto, Dell, VASCO, Symantec, Authenex, Deepnet Security, Entrust, FEITIAN Technologies, Fortinet, HID, ID Control, Nexus, PortalGuard, SecuTech, SecureMetric Technology, and Yubico.

  • Executive summary
    • Key findings
      • Table Overview of numbers 2015 and 2015 (% market share)
  • Scope of the report
    • Market overview
      • Table Major countries considered
    • Top-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
  • Market landscape
    • Market overview
    • Two-factor authentication
      • Table Two-factor authentication method
    • Comparison of two-factor authentication and multi-factor authentication
      • Table Multi-factor authentication versus two-factor authentication
    • Regulations related to multi-factor authentication
    • Advantages and disadvantages of hardware OTP token
  • Authentication techniques
    • Comparison of authentication techniques
      • Table Comparison of authentication techniques 2015
  • Market size and forecast
    • Global hardware OTP token authentication market
      • Table Global hardware OTP token authentication market 2015-2020 ($ millions)
  • Market segmentation by end-users
    • Hardware OTP token authentication market in BFSI sector
      • Table Hardware OTP token authentication market in BFSI sector 2015-2020 ($ millions)
    • Hardware OTP token authentication market in PCI
      • Table Hardware OTP token authentication market in PCI 2015-2020 ($ millions)
    • Hardware OTP token authentication market in government sector
      • Table Hardware OTP token authentication market in government sector 2015-2020 ($ millions)
    • Hardware OTP token authentication market in healthcare sector
      • Table Hardware OTP token authentication market in healthcare sector 2015-2020 ($ millions)
  • Geographical segmentation
    • Hardware OTP token authentication market in Americas
      • Table Hardware OTP token authentication market in Americas 2015-2020 ($ millions)
    • Hardware OTP token authentication market in EMEA
      • Table Hardware OTP token authentication market in EMEA 2015-2020 ($ millions)
    • Hardware OTP token authentication market in APAC
      • Table Hardware OTP token authentication market in APAC 2015-2020 ($ millions)
  • Market attractiveness
    • Market attractiveness by end-user segmentation
      • Table Market attractiveness by end-users 2016
      • Table Market attractiveness by end-users 2020
  • Market drivers
    • Increase in volume of online transactions
      • Table Global 3G and 4G connections (millions)
    • Higher level of security provided by hardware OTP tokens
    • Preference for convenience and instant use
    • Adherence to compliance mandates
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • High upgrading and replacement costs
    • Rise in adoption of software authentication methods
    • Hardware devices are inconvenient to carry and vulnerable
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Emergence of next-generation hardware OTP tokens
    • Growing use of unified platforms for authentication purposes
    • Increasing adoption of authentication solutions by SMEs
  • Impact of trends
    • Table Impact of trends
  • Buying criteria
    • Table Buying criteria for hardware OTP token authentication solutions
  • Five forces analysis
    • Table Five forces analysis
  • Vendor landscape
    • Competitive landscape
      • Table Competitive rating of hardware OTP authentication vendors
      • Table Vendor matrix: Hardware OTP tokens
      • Table Vendor matrix: Geographical presence
      • Table Vendor matrix: Features
      • Table Vendor matrix: End-users
    • Other prominent vendors
  • Key vendor profiles
    • Gemalto
    • Dell
      • Table Pricing of Dell authentication solutions
    • VASCO
    • Symantec
      • Table Symantec: Business segmentation by revenue 2015
      • Table Symantec: Geographical segmentation by revenue 2015
    • Assumptions
  • Appendix
    • List of abbreviations
  • Explore Technavio

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