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Global Hardware OTP Token Authentication Market 2016-2020 - Key Vendors are Gemalto, Dell, VASCO & Symantec - Research and MarketsResearch and Markets has announced the addition of the "Global Hardware OTP Token Authentication Market 2016-2020" report to their offering. The global hardware OTP token authentication market to grow at a CAGR of 8.42% during the period 2016-2020. 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. 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. According to the report, cyber-attacks are increasing, especially against websites where the number of online transactions is significantly high. Hackers are also targeing 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. Key vendors Other prominent vendors
For more information about this report visit http://www.researchandmarkets.com/research/hbhwp3/global_hardware Related Topics: IT Security
View source version on businesswire.com: http://www.businesswire.com/news/home/20160906005792/en/ |
