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.
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 Analysis and Insights: Global Hardware OTP Token Authentication Market
The global Hardware OTP Token Authentication market size is projected to reach US$ 501.2 million by 2027, from US$ 331.5 million in 2020, at a CAGR of 6.0% during 2021-2027.
With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Hardware OTP Token Authentication market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Hardware OTP Token Authentication market in terms of revenue.
On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Hardware OTP Token Authentication market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Hardware OTP Token Authentication market.

Global Hardware OTP Token Authentication Scope and Market Size
Hardware OTP Token Authentication market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Hardware OTP Token Authentication market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by Type and by Application in terms of revenue and forecast for the period 2016-2027.

Segment by Type
USB Tokens
SIM Tokens
Mini Tokens

Segment by Application
Banking, Financial Services and Insurance (BFSI)
Healthcare
Government
PCI (Payment Card Industry)
Commercial Security
Others

By Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Nordic
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA

By Company
Dell
Gemalto
Symantec
VASCO
Authenex
Deepnet Security
Entrust
FEITIAN Technologies
Fortinet
HID
ID Control
Nexus
PortalGuard
SecureMetric Technology
Yubico