TechNavio, a market research leader in the area of IT Security, recently published its report, Global Hardware One-Time Password Token Authentication Market 2010-2014.
London, UK, December 09, 2011 -- TechNavio, a market research leader in the area of IT Security, recently published its report, Global Hardware One-Time Password Token Authentication Market 2010-2014. The report covers the Americas and the EMEA and APAC regions, and discusses significant trends impacting the growth of this market. The report is based on an in-depth study of the market with inputs from key industry participants. In addition to profiling key vendors, the report discusses the important drivers, trends, and challenges for the industry.
TechNavio's report highlights that the declining price of hardware one-time password (OTP) tokens is resulting in increased adoption among small and medium-sized businesses (SMBs). Regulatory guidelines that were previously applicable only to large enterprises are now applicable to SMBs as well. Hence, the increasing frequency of attacks, coupled with the growing regulatory requirements, is driving SMBs to adopt strong authentication solutions such as hardware OTP tokens.
Commenting on the report, an analyst from TechNavio's IT Security team said, "One of the major reasons for the growth in the overall IT Security market is strict compliance requirements. However, a key challenge facing this market is the growing preference for software authentication solutions over hardware OTP token solutions. As a result, the Software Authentication market has been witnessing stronger growth."
Key findings from the report:
• Price-based Competition Leading to Reduction in Prices
• High Initial Deployment and Replacement Costs of Hardware Tokens in Some Regions
• Low Regulatory Requirements in Developing Regions
TechNavio is the market research platform of Infiniti Research publishing periodic reports on multiple areas of niche and emerging technologies. For further information, please visit http://www.technavio.com/content/global-hardware-one-time-password-token-authentication-market-2010-2014. Follow us on Twitter @Technavio for daily industry updates.
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