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PUBLISHER: IMARC | PRODUCT CODE: 1378792
PUBLISHER: IMARC | PRODUCT CODE: 1378792
OTP Hardware Authentication Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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PAGES: 138 Pages
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Abstract
The global OTP hardware authentication market size reached US$ 1.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1.9 Billion by 2028, exhibiting a growth rate (CAGR) of 8.0% during 2022-2028.
OTP (one-time-password) hardware authentication is a security approach wherein a random set of alphanumeric characters are displayed on small, standalone devices, such as key fobs, display cards or tokens. These characters are automatically validated with an authentication server that has a copy of the seed record and a serial number of the device. Once validated, the user is securely granted access to different websites, applications or an operating system. As the characters expire after a specific period, OTP hardware authentication is considered more reliable than static passwords. Moreover, with the integration of radio-frequency identification (RFID) solutions, lost or stolen OTP hardware devices can be tracked easily.
OTP Hardware Authentication Market Trends:
Due to the rising instances of phishing and cyberattacks, several organizations are using OTP hardware devices as they are isolated from the network and cannot be externally accessed. This represents one of the key factors impelling the market growth. Moreover, as these devices have long battery life and offer maximum security, they are widely utilized to support the operation, maintenance and management of various end use industries. Furthermore, the growing traction of hybrid tokens, which are a combination of OTP and certificate-based authentication within a single device, is stimulating the market growth. Apart from this, the key players are incorporating innovative features, such as liquid crystal display (LCD) screen, keypads for passwords and biometric readers, to enhance the security of their products. They are also offering wireless product variants, which is expected to positively influence the market growth in the coming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global OTP hardware authentication market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, type and end user.
Breakup by Product Type:
USB Tokens
SIM Tokens
Mini Tokens
Others
Breakup by Type:
Connected
Disconnected
Contactless
Breakup by End User:
BFSI
Healthcare
Government
Commercial Security
Transportation
Others
Breakup by Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Authenex Inc., Deepnet Security, Dell EMC, Entrust Datacard Corporation, Feitian Technologies Co. Ltd., Fortinet Inc., HID Global Corporation (Assa Abloy AB), Microcosm Ltd., One Identity LLC (Quest Software), OneSpan Inc., RSA Security LLC (Symphony Technology Group), SafeNet, Inc., Securemetric Berhad, Symantec Corporation (Broadcom Inc.), Thales Group and Yubico Inc.
Key Questions Answered in This Report:
- How has the global OTP hardware authentication market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global OTP hardware authentication market?
- What are the key regional markets?
- What is the breakup of the market based on the product type?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the end user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global OTP hardware authentication market and who are the key players?
- What is the degree of competition in the industry?
Product Code: SR112023A2698
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global OTP Hardware Authentication Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Product Type
- 6.1 USB Tokens
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 SIM Tokens
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Mini Tokens
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Others
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
7 Market Breakup by Type
- 7.1 Connected
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Disconnected
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Contactless
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
8 Market Breakup by End User
- 8.1 BFSI
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Healthcare
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Government
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Commercial Security
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Transportation
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
- 8.6 Others
- 8.6.1 Market Trends
- 8.6.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 Authenex Inc.
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.2 Deepnet Security
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.3 Dell EMC
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.3.3 Financials
- 14.3.3.4 SWOT Analysis
- 14.3.4 Entrust Datacard Corporation
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.5 Feitian Technologies Co. Ltd.
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.5.3 Financials
- 14.3.6 Fortinet Inc.
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.6.3 Financials
- 14.3.6.4 SWOT Analysis
- 14.3.7 HID Global Corporation (Assa Abloy AB)
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.8 Microcosm Ltd.
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.9 One Identity LLC (Quest Software)
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.10 Onespan Inc.
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.10.3 Financials
- 14.3.11 RSA Security LLC (Symphony Technology Group)
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.12 SafeNet Inc.
- 14.3.12.1 Company Overview
- 14.3.12.2 Product Portfolio
- 14.3.13 Securemetric Berhad
- 14.3.13.1 Company Overview
- 14.3.13.2 Product Portfolio
- 14.3.14 Symantec Corporation (Broadcom Inc.)
- 14.3.14.1 Company Overview
- 14.3.14.2 Product Portfolio
- 14.3.15 Thales Group
- 14.3.15.1 Company Overview
- 14.3.15.2 Product Portfolio
- 14.3.15.3 Financials
- 14.3.15.4 SWOT Analysis
- 14.3.16 Yubico Inc.
- 14.3.16.1 Company Overview
- 14.3.16.2 Product Portfolio
- 14.3.1 Authenex Inc.
Product Code: SR112023A2698
List of Figures
- Figure 1: Global: OTP Hardware Authentication Market: Major Drivers and Challenges
- Figure 2: Global: OTP Hardware Authentication Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: OTP Hardware Authentication Market: Breakup by Product Type (in %), 2022
- Figure 4: Global: OTP Hardware Authentication Market: Breakup by Type (in %), 2022
- Figure 5: Global: OTP Hardware Authentication Market: Breakup by End User (in %), 2022
- Figure 6: Global: OTP Hardware Authentication Market: Breakup by Region (in %), 2022
- Figure 7: Global: OTP Hardware Authentication Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 8: Global: OTP Hardware Authentication (USB Tokens) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 9: Global: OTP Hardware Authentication (USB Tokens) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 10: Global: OTP Hardware Authentication (SIM Tokens) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 11: Global: OTP Hardware Authentication (SIM Tokens) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 12: Global: OTP Hardware Authentication (Mini Tokens) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 13: Global: OTP Hardware Authentication (Mini Tokens) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 14: Global: OTP Hardware Authentication (Other Product Types) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 15: Global: OTP Hardware Authentication (Other Product Types) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 16: Global: OTP Hardware Authentication (Connected) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 17: Global: OTP Hardware Authentication (Connected) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 18: Global: OTP Hardware Authentication (Disconnected) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 19: Global: OTP Hardware Authentication (Disconnected) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 20: Global: OTP Hardware Authentication (Contactless) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 21: Global: OTP Hardware Authentication (Contactless) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 22: Global: OTP Hardware Authentication (BFSI) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 23: Global: OTP Hardware Authentication (BFSI) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 24: Global: OTP Hardware Authentication (Healthcare) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 25: Global: OTP Hardware Authentication (Healthcare) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 26: Global: OTP Hardware Authentication (Government) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 27: Global: OTP Hardware Authentication (Government) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 28: Global: OTP Hardware Authentication (Commercial Security) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 29: Global: OTP Hardware Authentication (Commercial Security) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 30: Global: OTP Hardware Authentication (Transportation) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 31: Global: OTP Hardware Authentication (Transportation) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 32: Global: OTP Hardware Authentication (Other End Users) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 33: Global: OTP Hardware Authentication (Other End Users) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 34: North America: OTP Hardware Authentication Market: Sales Value (in Million US$), 2017 & 2022
- Figure 35: North America: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 36: United States: OTP Hardware Authentication Market: Sales Value (in Million US$), 2017 & 2022
- Figure 37: United States: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 38: Canada: OTP Hardware Authentication Market: Sales Value (in Million US$), 2017 & 2022
- Figure 39: Canada: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 40: Asia Pacific: OTP Hardware Authentication Market: Sales Value (in Million US$), 2017 & 2022
- Figure 41: Asia Pacific: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 42: China: OTP Hardware Authentication Market: Sales Value (in Million US$), 2017 & 2022
- Figure 43: China: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 44: Japan: OTP Hardware Authentication Market: Sales Value (in Million US$), 2017 & 2022
- Figure 45: Japan: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 46: India: OTP Hardware Authentication Market: Sales Value (in Million US$), 2017 & 2022
- Figure 47: India: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 48: South Korea: OTP Hardware Authentication Market: Sales Value (in Million US$), 2017 & 2022
- Figure 49: South Korea: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 50: Australia: OTP Hardware Authentication Market: Sales Value (in Million US$), 2017 & 2022
- Figure 51: Australia: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 52: Indonesia: OTP Hardware Authentication Market: Sales Value (in Million US$), 2017 & 2022
- Figure 53: Indonesia: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 54: Others: OTP Hardware Authentication Market: Sales Value (in Million US$), 2017 & 2022
- Figure 55: Others: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 56: Europe: OTP Hardware Authentication Market: Sales Value (in Million US$), 2017 & 2022
- Figure 57: Europe: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 58: Germany: OTP Hardware Authentication Market: Sales Value (in Million US$), 2017 & 2022
- Figure 59: Germany: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 60: France: OTP Hardware Authentication Market: Sales Value (in Million US$), 2017 & 2022
- Figure 61: France: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 62: United Kingdom: OTP Hardware Authentication Market: Sales Value (in Million US$), 2017 & 2022
- Figure 63: United Kingdom: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 64: Italy: OTP Hardware Authentication Market: Sales Value (in Million US$), 2017 & 2022
- Figure 65: Italy: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 66: Spain: OTP Hardware Authentication Market: Sales Value (in Million US$), 2017 & 2022
- Figure 67: Spain: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 68: Russia: OTP Hardware Authentication Market: Sales Value (in Million US$), 2017 & 2022
- Figure 69: Russia: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 70: Others: OTP Hardware Authentication Market: Sales Value (in Million US$), 2017 & 2022
- Figure 71: Others: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 72: Latin America: OTP Hardware Authentication Market: Sales Value (in Million US$), 2017 & 2022
- Figure 73: Latin America: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 74: Brazil: OTP Hardware Authentication Market: Sales Value (in Million US$), 2017 & 2022
- Figure 75: Brazil: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 76: Mexico: OTP Hardware Authentication Market: Sales Value (in Million US$), 2017 & 2022
- Figure 77: Mexico: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 78: Others: OTP Hardware Authentication Market: Sales Value (in Million US$), 2017 & 2022
- Figure 79: Others: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 80: Middle East and Africa: OTP Hardware Authentication Market: Sales Value (in Million US$), 2017 & 2022
- Figure 81: Middle East and Africa: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 82: Global: OTP Hardware Authentication Industry: SWOT Analysis
- Figure 83: Global: OTP Hardware Authentication Industry: Value Chain Analysis
- Figure 84: Global: OTP Hardware Authentication Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: OTP Hardware Authentication Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: OTP Hardware Authentication Market Forecast: Breakup by Product Type (in Million US$), 2023-2028
- Table 3: Global: OTP Hardware Authentication Market Forecast: Breakup by Type (in Million US$), 2023-2028
- Table 4: Global: OTP Hardware Authentication Market Forecast: Breakup by End User (in Million US$), 2023-2028
- Table 5: Global: OTP Hardware Authentication Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 6: Global: OTP Hardware Authentication Market: Competitive Structure
- Table 7: Global: OTP Hardware Authentication Market: Key Players
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