Hardware OTP Token Authentication Market 2022 is estimated to clock a modest CAGR status during the forecast period 2022-2026 With Top Countries Data

The "Hardware OTP Token Authentication Market" provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the Market’s growth. The rise in the aviation sector is escalating the growth of the Hardware OTP Token Authentication Market. Increased adoption of superior technology consisting of synthetic intelligence and system learning, a developing quantity of records and growing utility of records answers through an extensive variety of ends person verticals consisting of banking, economic services, and insurance, authorities and public sector, telecommunications and IT, energy, healthcare and others are the foremost elements as a consequence of the increase of the market.

The Global Hardware OTP Token Authentication Market Size is Projected to Reach at a CAGR of 7.5% during 2022-2026.

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Market Overview:

- The portability factor associated with these hardware devices further eliminates the need for external software and hardware for identity management. The enhanced level of security provided by these tokens is a major factor reinforcing their demand across the various end-user industries around the world.
- Enterprises, BFSI, government, healthcare, and other segments (gaming, service providers, etc.) are few of the end-user industry segments that require or are required to have multi-factor authentication for granting access to information or usage of services. The mandatory regulations from many government bodies make it necessary for the use of OTP.

Key players in the global Hardware OTP Token Authentication Market covered:

Authenex Inc., Dell Technologies Inc., Entrust Datacard Corporation, Thales Group (Gemalto NV), Microcosm Ltd, One Identity LLC, RSA Security LLC, SurepassID Corp., Broadcom Inc. (Symantec Corporation), VASCO Data Security International Inc.,

Recent Development:

- Apr 2019 - Thales completed the acquisition of Gemalto (Euronext Amsterdam and Paris: GTO), creating a global leader in digital identity and security. With Gemalto, Thales will cover the entire critical decision chain in a digital world, from data generation via sensors, to real-time decision support. Completed in 15 months, the acquisition of Gemalto by Thales for EUR 4.8 billion creates a Group on a new scale and a global leader in digital identity and security employing 80,000 people.
- Nov 2017 - RSA, a subsidiary of Dell Technologies, expanded its technology ecosystem, in order to make strong authentication more continuous, proactive, and pervasive. Offering seamless interoperability with the CyberArk Privileged Account Security Solution, Microsoft Windows Hello, Palo Alto Networks Next-Generation Firewall, and VMware Workspace ONE, RSA enables organizations to quickly and easily leverage the broad set of modern mobile authentication methods from the RSA SecurID Access solution.

Market Segmentation by Type:

 Connected
 Disconnected
Contactless

Market Segmentation by Application:

 Banking, Financial Services & Insurance
 Government
Enterprise Security
Healthcare
 Other End-user Industries

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Key Market Trends

Disconnected Hardware OTP Token Authentication Market has the Largest Share

- A disconnected hardware OTP token requires the number to be copied into the passcode field by hand. Disconnected tokens have neither a physical nor logical connection to the client computer. Disconnected tokens do not require a special input device, and instead, use a built-in screen to display the generated authentication data, which the user enters manually via a keyboard or keypad.
- Disconnected tokens are the most common type of security tokens used, usually in combination with a password, in two-factor authentication for online identification. These devices have been in the market for over three decades and have undergone various developments, in order to avoid miscreants getting access to it.

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Early Adoption Enables North America to Have the Largest Market Share

- The United States is the largest contributor to breach activity with 2,330 breaches reported, with the United Kingdom positioned 2nd, far behind with reported 184 breach reports. The number of breaches: 2,330, in the United States led to total exposed records of 2,317,065. This led to the personal information being compromised and password and other details getting exposed.
- As per the White House Council of Economic Advisers, the US economy loses approximately USD 57 billion to USD 109 billion per year to dangerous cyber activity. The increase in the number of data breaches is pushing many organizations to adopt hardware OTP devices that provide another layer of security for the user to secure themselves.

Table of Contents: Hardware OTP Token Authentication Market

- Chapter 1: outline of Hardware OTP Token Authentication marketplace

- Chapter 2: worldwide market reputation and forecast through areas

- Chapter 3: worldwide marketplace popularity and forecast by using types

- Chapter 4: worldwide marketplace repute and forecast by using Downstream enterprise

- Chapter 5: marketplace riding issue evaluation

- Chapter 6: market opposition reputation by major producers

- Chapter 7: essential producers Presentation and market data

- Chapter 8: Upstream and Downstream marketplace investigation

- Chapter 9: Fetched and net part investigation

- Chapter 10: marketplace file end

- Chapter 11: research technique and Reference

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