Hardware OTP Token Authentication Market to Grow with a high
CAGR During 2020-2029; increasing number of internet-based
transactions and high level of security provided by the hardware
OTP tokens Drive the Market Growth
Research Nester released a report titled “Hardware OTP Token
Authentication Market: Global Demand Analysis & Opportunity
Outlook 2029” which delivers detailed overview of hardware OTP token
authentication market in terms of market segmentation by type, application,
component and region.
Further, for the in-depth analysis, the report encompasses the industry
growth indicators, restraints, supply and demand risk, along with detailed
discussion on current and future market trends that are associated with the
growth of the market.
Hardware OTP token authentication market is projected to grow with a high
CAGR during the forecast period, i.e., 2020-2029 on account of the
increasing investments in banking and finance industry and preference for
convenience and instant use of the tokens.
The market is segmented by type into disconnected, connected and
contactless among these segments, the disconnected segment is anticipated
to hold the largest share by the end of 2020 in the hardware OTP token
authentication market as a result of the higher security to the data and
adherence to the compliances.
On the basis of region, the market is segmented into North America, Europe,
Asia Pacific, Latin America, and the Middle East & Africa, out of which,
hardware OTP token authentication market in the North America is
projected to grow at the highest CAGR throughout the forecast period.
Currently, the market in North America holds the largest share owing to the
presence of leading technology providers in the region, especially in the
United States, who are extensively involved in the research and development
for innovative authentication systems.
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Increasing Investments from Banking and Fi