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TMCNet:  Research and Markets: The Global Hardware One-Time Password Token Authentication Market to Grow at a CAGR Of 9.12% over the Period 2012-2016

[December 19, 2013]

Research and Markets: The Global Hardware One-Time Password Token Authentication Market to Grow at a CAGR Of 9.12% over the Period 2012-2016

DUBLIN --(Business Wire)--

Research and Markets (http://www.researchandmarkets.com/research/zt9tm4/global_hardware) has announced the addition of the "Global Hardware One-Time Password Token Authentication Market 2012-2016" report to their offering.

One of the key factors contributing to this market growth is the increasing dependence on websites and web applications for transactions. The Global Hardware One-Time Password Token Authentication market has also been witnessing the emergence of a unified platform for various authentication solutions.

However, increasing acceptance of software authentication solutions could pose a challenge to the growth of this market.

The key vendors dominating this space include Gemalto N.V., RSA Security Inc., SafeNet (News - Alert) Technology Ltd., and VASCO Data Security International Inc.

The other vendors mentined in the report are ActivIdentity Corp., Deepnet Security Ltd., Entrust Inc., ID Control, Symantec (News - Alert) Corp., and Yubico AB.


Commenting on the report, an analyst from the 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.

For more information visit http://www.researchandmarkets.com/research/zt9tm4/global_hardware

About Research and Markets

Research and Markets is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.


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