Hardware OTP Token Authentication Market Size Forecast 2020 to 2024 | Industry Top Key Players, Trends, Dynamics, Growth Statistics, Opportunities by Business Plans – The Daily Chronicle


Hardware OTP Token Authentication

New Research Report on “Hardware OTP Token Authentication Market” presents an in-depth analysis of Hardware OTP Token Authentication which includes market size, share, growth, and demand forecast until 2024 (in USD billion). The report sheds light on the latest market developments and prominent trends in the market. Hardware OTP Token Authentication market report includes research methodology, value chain analysis, industry analysis by the power of suppliers and consumers. Hardware OTP Token Authentication market report also includes new upcoming technology of Hardware OTP Token Authentication Industry that will help our clients.

Hardware OTP Token Authentication Market Covers Major Key Players:

Hardware OTP Token Authentication Market Covers manufacturers on the basis of market status, production, consumption and forecast details.

  • Authenex Inc.
  • Dell Technologies Inc.
  • Entrust Datacard Corporation
  • Gemalto NV (Thales Group)
  • Microcosm Ltd.
  • One Identity LLC
  • RSA Security LLC
  • SurepassID Corp.
  • Symantec Corporation
  • VASCO Data Security International Inc.

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    Market Overview:

  • Hardware OTP tokens are a product category within the two-factor authentication sector, primarily used for ensuring user authentication and access management applications. Primary authentication is followed by the secondary authentication with the use of a hardware device. Since user login authentication without the possession of hardware devices is not allowed, hardware tokens are reliable in ensuring authenticated user login.
  • – The portability factor associated with these hardware devices further eliminates the need for external software and hardware for identity management. The enhanced level of security provided by these tokens is a major factor reinforcing their demand across the various end-user industries around the world.
  • – Enterprises, BFSI, government, healthcare, and other segments (gaming, service providers, etc.) are few of the end-user industry segments that require or are required to have multi-factor authentication for granting access to information or usage of services. The mandatory regulations from many government bodies make it necessary for the use of OTP.
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  • – Software OTP, SMS, email, biometrics, etc., are available substitutes to hardware OTP tokens, but hardware tokens are considered more secure as they do not require a network to access the passcode or PIN and are not susceptible to hacks, among other threats.

    Scope of the Report:

    A token is a piece of data that has no meaning or use on its own, but when combined with the correct tokenization system it becomes a vital player in securing the application. Token-based authentication works by ensuring that each request to a server is accompanied by a signed token, which the server verifies for authenticity and only then responds to the request.

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    Key Market Trends:

    Disconnected Hardware OTP Token Authentication Market Has the Largest Share

    – A disconnected hardware OTP token requires the number to be copied into the passcode field by hand. Disconnected tokens have neither a physical nor logical connection to the client computer. Disconnected tokens do not require a special input device, and instead, use a built-in screen to display the generated authentication data, which the user enters manually via a keyboard or keypad.
    – Disconnected tokens are the most common type of security tokens used, usually in combination with a password, in two-factor authentication for online identification. These devices have been in the market for over three decades and have undergone various developments, in order to avoid miscreants getting access to it.
    – Disconnected hardware OTP token authentication segment enjoys the largest share in the market studied, due to the ease in use and the increased security it offers against connected or networked devices.

    Early Adoption Enables North America to Have the Largest Market Share

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    – The United States is the largest contributor to breach activity with 2,330 breaches reported with the UK positioned 2nd far behind with reported 184 breach reports. Number of breaches: 2,330, in the United States led to total exposed records of 2,317,065. This led to the personal information being compromised and password and other details getting exposed.
    – As per the White House Council of Economic Advisers, the US economy loses approximately USD 57 billion to USD 109 billion per year to dangerous cyber activity. The increase in the number of data breaches is pushing many organizations to adopt hardware OTP devices that provide another layer of security for the user to secure themselves.
    – Enterprises these days are operating globally and their employees travel to various offices across the globe. The OTP token authentication allows access as well as provide an additional layer of security to the organizations to secure their and the employee’s information.

    Hardware OTP Token Authentication Market Report contents include:

    • Analysis of the laboratory balance market including revenues, future growth, market outlook
    • Historical data and forecast
    • Regional analysis including growth estimates
    • Analyzes the end user markets including growth estimates.
    • Profiles on laboratory balance including products, sales/revenues, and market position
    • Market structure, market drivers and restraints.

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    Detailed TOC of Hardware OTP Token Authentication Market Report 2020-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Introduction to Market Drivers & Restraints
    4.3 Market Drivers
    4.3.1 Growing Number of Internet-based Transactions
    4.3.2 Increasing Investments from Banking and Finance Industry
    4.4 Market Restraints
    4.4.1 Growing Use and Reliability of Bio-metric Authentication
    4.5 Regional Market Lifecycle Analysis
    4.6 Industry Attractiveness – Porter’s Five Force Analysis
    4.6.1 Threat of New Entrants
    4.6.2 Bargaining Power of Buyers/Consumers
    4.6.3 Bargaining Power of Suppliers
    4.6.4 Threat of Substitute Products
    4.6.5 Intensity of Competitive Rivalry
    4.7 Regulatory Policy Analysis

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    5 MARKET SEGMENTATION
    5.1 By Type
    5.1.1 Connected
    5.1.2 Disconnected
    5.1.3 Contactless
    5.2 By End-user Industry
    5.2.1 Banking, Financial Services & Insurance
    5.2.2 Government
    5.2.3 Enterprise Security
    5.2.4 Healthcare
    5.2.5 Other End-user Industries
    5.3 Geography
    5.3.1 North America
    5.3.2 Europe
    5.3.3 Asia-Pacific
    5.3.4 Latin America
    5.3.5 Middle East & Africa

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Authenex Inc.
    6.1.2 Dell Technologies Inc.
    6.1.3 Entrust Datacard Corporation
    6.1.4 Gemalto NV (Thales Group)
    6.1.5 Microcosm Ltd.
    6.1.6 One Identity LLC
    6.1.7 RSA Security LLC
    6.1.8 SurepassID Corp.
    6.1.9 Symantec Corporation
    6.1.10 VASCO Data Security International Inc.

    7 INVESTMENT ANALYSIS

    8 MARKET OPPORTUNITIES AND FUTURE TRENDS

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