TechNavio recognizes the following companies as the key players in the Global Hardware One-Time Password Token Authentication Market: RSA Security Inc., VASCO Data Security International Inc., SafeNet Inc., and Gemalto N.V.
Commenting on the report, an analyst from TechNavio’s IT Security team said: “The Global Authentication market comprises software and hardware authentication solutions. Despite the respective advantages and disadvantages of software and hardware authentication solutions, both segments are expected to coexist. Some industries that are more cost-conscious will adopt software authentication solutions, whereas large enterprise with traditional setups will adopt hardware authentication solutions. Hence, vendors are introducing a unified platform that can provide both hardware and software authentication solutions. Furthermore, this unified platform will help the authentication vendors save costs as they do not have to maintain separate platforms and modules. Additionally, this could help in increasing adoption as a unified platform enables end-users to switch easily to other hardware OTP token authentication solutions. ”
According to the report, one of the major drivers is the increased dependence on websites and web applications for transactions, which has led to numerous cyber-attacks. In the current scenario, financial companies are increasingly providing online facilities and features for their customers. Hence, companies are empowering their customers with secure authentication solutions such as hardware OTP tokens that can provide a higher level of security than traditional single-factor authentication.
Further, the report states that the major challenge faced by the market is the increased acceptance of software authentication solutions. As software authentication solutions are easy to use and require low installation costs, they are being used increasingly. They are also being widely adopted by non-traditional industries. Hence, this is affecting the demand for hardware OTP tokens.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are Symantec, Entrust, ActivIdentity, Deepnet Security Ltd., Yubico AB, and ID Control.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/content/global-hardware-one-time-password-token…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/it-security
Follow us on Twitter @ Technavio
TechNavio Announces the Publication of its Research Report -Global Hardware One-Time Password Token Authentication Market 2012-2016
