|[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
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
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
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
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.
[ Back To Technology News's Homepage ]