Hardware OTP Token Authentication Market, Global Outlook and Forecast 2023-2032
Hardware OTP authentication is a two-factor authentication solution that enables secure remote network access and digital signature functionality with the help of a physical hardware authenticator or a secure token. Hardware OTP utilizes a separate device or a security token issued to a user to generate a password that acts as a second factor for authentication.
This report aims to provide a comprehensive presentation of the global market for Hardware OTP Token Authentication, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Hardware OTP Token Authentication. This report contains market size and forecasts of Hardware OTP Token Authentication in global, including the following market information:
Global Hardware OTP Token Authentication Market Revenue, 2018-2023, 2024-2032, ($ millions)
Global top five companies in 2022 (%)
The global Hardware OTP Token Authentication market was valued at US$ 341.1 million in 2022 and is projected to reach US$ 504.1 million by 2029, at a CAGR of 5.7% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Hardware OTP tokens are a product category within the two-factor authentication sector, primarily used for ensuring user authentication and access management applications. Primary authentication is followed by the secondary authentication using a hardware device. Since user login authentication without the possession of hardware devices is not allowed, hardware tokens are reliable in ensuring authenticated user login. Further, hardware OTP tokens are highly instrumental in preventing any chance of network infiltration. The portability factor associated with these hardware devices also eliminates the need for external software and hardware for identity management. The enhanced level of security provided by these tokens is a significant factor reinforcing their demand across the various end-user industries around the world.
MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Hardware OTP Token Authentication companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Hardware OTP Token Authentication Market, by Type, 2018-2023, 2024-2032 ($ millions)
Global Hardware OTP Token Authentication Market Segment Percentages, by Type, 2022 (%)
USB Tokens
SIM Tokens
Mini Tokens
Global Hardware OTP Token Authentication Market, by Application, 2018-2023, 2024-2032 ($ millions)
Global Hardware OTP Token Authentication Market Segment Percentages, by Application, 2022 (%)
Banking, Financial Services and Insurance (BFSI)
Healthcare
Government
PCI (Payment Card Industry)
Commercial Security
Others
Global Hardware OTP Token Authentication Market, By Region and Country, 2018-2023, 2024-2032 ($ Millions)
Global Hardware OTP Token Authentication Market Segment Percentages, By Region and Country, 2022 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Hardware OTP Token Authentication revenues in global market, 2018-2023 (estimated), ($ millions)
Key companies Hardware OTP Token Authentication revenues share in global market, 2022 (%)
Further, the report presents profiles of competitors in the market, key players include:
Dell
Gemalto
Symantec
VASCO
Authenex
Deepnet Security
Entrust
FEITIAN Technologies
Fortinet
HID
ID Control
Nexus
PortalGuard
SecureMetric Technology
Yubico
Outline of Major Chapters:
Chapter 1: Introduces the definition of Hardware OTP Token Authentication, market overview.
Chapter 2: Global Hardware OTP Token Authentication market size in revenue.
Chapter 3: Detailed analysis of Hardware OTP Token Authentication company competitive landscape, revenue and market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Hardware OTP Token Authentication in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: The main points and conclusions of the report.
