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OTP Hardware Authentication Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The global OTP hardware authentication market exhibited strong growth during 2015-2020. Looking forward, the market is expected to grow at a CAGR of around 8% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor.

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 for growth at the global, regional and country level from 2021-2026. 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, OneSpan Inc., RSA Security LLC (Symphony Technology Group), SafeNet, Inc., Securemetric Berhad, Symantec Corporation (Broadcom Inc.), Thales Group and Yubico Inc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2020
Historical Period 2015-2020
Forecast Period 2021-2026
Units US$ Billion
Segment Coverage Product Type, Type, End User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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, OneSpan Inc., RSA Security LLC (Symphony Technology Group), SafeNet, Inc., Securemetric Berhad, Symantec Corporation (Broadcom Inc.), Thales Group and Yubico Inc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

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?

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
    9.2    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
    9.3    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
    9.4    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
    9.5    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 

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$), 2015-2020
Figure 3: Global: OTP Hardware Authentication Market: Breakup by Product Type (in %), 2020
Figure 4: Global: OTP Hardware Authentication Market: Breakup by Type (in %), 2020
Figure 5: Global: OTP Hardware Authentication Market: Breakup by End User (in %), 2020
Figure 6: Global: OTP Hardware Authentication Market: Breakup by Region (in %), 2020
Figure 7: Global: OTP Hardware Authentication Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 8: Global: OTP Hardware Authentication (USB Tokens) Market: Sales Value (in Million US$), 2015 & 2020
Figure 9: Global: OTP Hardware Authentication (USB Tokens) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 10: Global: OTP Hardware Authentication (SIM Tokens) Market: Sales Value (in Million US$), 2015 & 2020
Figure 11 Global: OTP Hardware Authentication (SIM Tokens) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 12: Global: OTP Hardware Authentication (Mini Tokens) Market: Sales Value (in Million US$), 2015 & 2020
Figure 13: Global: OTP Hardware Authentication (Mini Tokens) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 14: Global: OTP Hardware Authentication (Other Product Types) Market: Sales Value (in Million US$), 2015 & 2020
Figure 15: Global: OTP Hardware Authentication (Other Product Types) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 16: Global: OTP Hardware Authentication (Connected) Market: Sales Value (in Million US$), 2015 & 2020
Figure 17: Global: OTP Hardware Authentication (Connected) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 18: Global: OTP Hardware Authentication (Disconnected) Market: Sales Value (in Million US$), 2015 & 2020
Figure 19: Global: OTP Hardware Authentication (Disconnected) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 20: Global: OTP Hardware Authentication (Contactless) Market: Sales Value (in Million US$), 2015 & 2020
Figure 21: Global: OTP Hardware Authentication (Contactless) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 22: Global: OTP Hardware Authentication (BFSI) Market: Sales Value (in Million US$), 2015 & 2020
Figure 23: Global: OTP Hardware Authentication (BFSI) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 24: Global: OTP Hardware Authentication (Healthcare) Market: Sales Value (in Million US$), 2015 & 2020
Figure 25: Global: OTP Hardware Authentication (Healthcare) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 26: Global: OTP Hardware Authentication (Government) Market: Sales Value (in Million US$), 2015 & 2020
Figure 27: Global: OTP Hardware Authentication (Government) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 28: Global: OTP Hardware Authentication (Commercial Security) Market: Sales Value (in Million US$), 2015 & 2020
Figure 29: Global: OTP Hardware Authentication (Commercial Security) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 30: Global: OTP Hardware Authentication (Transportation) Market: Sales Value (in Million US$), 2015 & 2020
Figure 31: Global: OTP Hardware Authentication (Transportation) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 32: Global: OTP Hardware Authentication (Other End Users) Market: Sales Value (in Million US$), 2015 & 2020
Figure 33: Global: OTP Hardware Authentication (Other End Users) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 34: North America: OTP Hardware Authentication Market: Sales Value (in Million US$), 2015 & 2020
Figure 35: North America: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 36: United States: OTP Hardware Authentication Market: Sales Value (in Million US$), 2015 & 2020
Figure 37: United States: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 38: Canada: OTP Hardware Authentication Market: Sales Value (in Million US$), 2015 & 2020
Figure 39: Canada: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 40: Asia Pacific: OTP Hardware Authentication Market: Sales Value (in Million US$), 2015 & 2020
Figure 41: Asia Pacific: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 42: China: OTP Hardware Authentication Market: Sales Value (in Million US$), 2015 & 2020
Figure 43: China: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 44: Japan: OTP Hardware Authentication Market: Sales Value (in Million US$), 2015 & 2020
Figure 45: Japan: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 46: India: OTP Hardware Authentication Market: Sales Value (in Million US$), 2015 & 2020
Figure 47: India: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 48: South Korea: OTP Hardware Authentication Market: Sales Value (in Million US$), 2015 & 2020
Figure 49: South Korea: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 50: Australia: OTP Hardware Authentication Market: Sales Value (in Million US$), 2015 & 2020
Figure 51: Australia: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 52: Indonesia: OTP Hardware Authentication Market: Sales Value (in Million US$), 2015 & 2020
Figure 53: Indonesia: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 54: Others: OTP Hardware Authentication Market: Sales Value (in Million US$), 2015 & 2020
Figure 55: Others: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 56: Europe: OTP Hardware Authentication Market: Sales Value (in Million US$), 2015 & 2020
Figure 57: Europe: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 58: Germany: OTP Hardware Authentication Market: Sales Value (in Million US$), 2015 & 2020
Figure 59: Germany: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 60: France: OTP Hardware Authentication Market: Sales Value (in Million US$), 2015 & 2020
Figure 61: France: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 62: United Kingdom: OTP Hardware Authentication Market: Sales Value (in Million US$), 2015 & 2020
Figure 63: United Kingdom: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 64: Italy: OTP Hardware Authentication Market: Sales Value (in Million US$), 2015 & 2020
Figure 65: Italy: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 66: Spain: OTP Hardware Authentication Market: Sales Value (in Million US$), 2015 & 2020
Figure 67: Spain: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 68: Russia: OTP Hardware Authentication Market: Sales Value (in Million US$), 2015 & 2020
Figure 69: Russia: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 70: Others: OTP Hardware Authentication Market: Sales Value (in Million US$), 2015 & 2020
Figure 71: Others: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 72: Latin America: OTP Hardware Authentication Market: Sales Value (in Million US$), 2015 & 2020
Figure 73: Latin America: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 74: Brazil: OTP Hardware Authentication Market: Sales Value (in Million US$), 2015 & 2020
Figure 75: Brazil: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 76: Mexico: OTP Hardware Authentication Market: Sales Value (in Million US$), 2015 & 2020
Figure 77: Mexico: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 78: Others: OTP Hardware Authentication Market: Sales Value (in Million US$), 2015 & 2020
Figure 79: Others: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 80: Middle East and Africa: OTP Hardware Authentication Market: Sales Value (in Million US$), 2015 & 2020
Figure 81: Middle East and Africa: OTP Hardware Authentication Market Forecast: Sales Value (in Million US$), 2021-2026
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, 2020 and 2026
Table 2: Global: OTP Hardware Authentication Market Forecast: Breakup by Product Type (in Million US$), 2021-2026
Table 3: Global: OTP Hardware Authentication Market Forecast: Breakup by Type (in Million US$), 2021-2026
Table 4: Global: OTP Hardware Authentication Market Forecast: Breakup by End User (in Million US$), 2021-2026
Table 5: Global: OTP Hardware Authentication Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 6: Global: OTP Hardware Authentication Market: Competitive Structure
Table 7: Global: OTP Hardware Authentication Market: Key Players

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