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Analysis of the Strong Authentication and One Time Password (OTP) Market

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The strong authentication and one-time password (OTP) market is seeing steady growth due to several factors: the movement to cloud-based services; the demand for single, federated sign-on to …

The strong authentication and one-time password (OTP) market is seeing steady growth due to several factors: the movement to cloud-based services; the demand for single, federated sign-on to software-as-a-service (SaaS) apps; the continuing growth of the threat landscape; open standard approaches; and innovative methods for stronger authentication. Biometrics is now the largest segment for strong authentication, with much of its momentum driven by the use of voice biometrics in call center and interactive voice response (IVR) applications.

Frost & Sullivan's new Analysis of the Strong Authentication and One-Time Password (OTP) Market finds the market earned revenue of $1.52 billion in 2013 and estimates this to reach $2.16 billion in 2018 at a compound annual growth rate of nearly 7 percent. The research notes new strong authentication methods are less expensive than the dominant hardware OTP method, fueling adoption. The analysis also finds RSA remains the largest vendor in the industry, with about one-fifth of the market revenue; however, the breadth of strong authentication methods creates a market for many players. This research covers hard token, USB key, biometrics, and soft token/device-as-a-token solutions.

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  • 1. The World has Changed, Weakening the Security Once Afforded by Passwords Research PREVIEW for the Analysis of the Strong Authentication and OneTime Password (OTP) Market @FS_TVision
  • 2. Sample of Key Highlights • • • • • Authentication establishes a bond of trust between an organization and the user who is requesting system access. Strong authentication refers to methods of authenticating users with a level of validation that is beyond that of simple username and password. The total market for strong authentication grew to $1.53 billion in 2013. 2013 was a “watershed” year for strong authentication in that biometrics became the largest segment of strong authentication technology. Much of the momentum in biometrics is being driven by the use of voice biometrics, especially in call center and interactive voice response (IVR) applications. The total market will grow to $2.1 billion by 2018, representing a compound annual growth rate of almost 7 percent. RSA remains the largest vendor in the market, with about one-fifth of the market revenue. This is down from 2010 when RSA had approximately one-quarter of the market revenue. The decline is market revenue is less about RSA’s performance and more about a growing market for new authentication methods. Source: Frost & Sullivan analysis.
  • 3. Drivers and Restraints Strong Authentication Market: Key Market Drivers and Restraints, Global, 2013–2018 5–6 years H H H Single, federated sign-on to SaaS apps M H H Growth of the threat landscape M H H Open Standards Approaches L M H Compliance mandates strong authentication L L M Large Installed base of existing solutions Market Restraints 3–4 years Movement to cloud-based services Market Drivers 1–2 years H H M Resistance to change within the security community H M L Mature strong authentication methods are expensive and inconvenient M M L Vendors communicate in terms of features rather than quantifiable benefits L L L Impact: H High M Medium L Low Note: Drivers & Restraints are ranked in order of impact. Source: Frost & Sullivan analysis.
  • 4. Executive Summary—CEO’s Perspective 1 According to the 2012 Verizon Breach Investigation Report1, weak or stolen login credentials were a factor in over 76 percent of the breaches analyzed. 2 The authentication form factor used should be determined by types of authentication needs. 3 There are a number of emerging alternatives to hardware OTP. Security professionals should apply an open mind. 4 Authentication methods should be viewed as a method to manage risk. Companies need multiple methods of authentication to properly match the strength/convenience of the authentication method to the level of risk to be managed. 1-To download this study, go to: http://www.verizonenterprise.com/resources/reports/rp_data-breach-investigations-report-2012_en_xg.pdf Source: Frost & Sullivan analysis.
  • 5. Details of the Full Analysis
  • 6. Contents Section Slide Number Executive Summary 5 Market Overview 11 Total Market - • External Challenges: Drivers and Restraints 32 • Forecasts and Trends 47 • Market Share and Competitive Analysis 59 • Innovations for Stronger Authentication 69 The Last Word (Conclusions and Implications) 83 Select Company Profiles 92 Appendix 109
  • 7. List of Exhibits Figure Slide Number Total OTP Market: Distribution Channel Analysis, Global, 2013 32 Strong Authentication Market: Key Market Drivers and Restraints, Global, 2013–2018 35 Importance of Features in Decision to Choose/Consider Cloud Software Service Providers 37 Strong Authentication Market: Revenue Forecast, Global, 2010–2018 50 Strong Authentication Market: Revenue Forecast, Global, 2010–2018 51 Total OTP Market: Prices of OTP Product Per User, Global, 2011, 2013, 2015 55 Total Strong Authentication Market: Revenue Forecast by Vertical Market, Global, 2010-2018 56 Percent of Revenue, Total Strong Authentication: Global, 2013 60 Percent of Revenue, Total Strong Authentication: Global, 2010 & 2013 62
  • 8. List of Exhibits Figure Slide Number Agnitio Strong Authentication Revenue 2009-2013 94 Entrust Authentication Revenue 2009-2013 95 Gemalto Authentication Revenue 2009-2013 96 Giesecke & Devrient Authentication Revenue 2009-2013 97 HID Global Authentication Revenue 2009-2013 98 Hitachi Authentication Revenue 2009-2013 99 IBM ZTIC Authentication Revenue 2009-2013 100 ID Control Authentication Revenue 2009-2013 101 KOBIL Systems Authentication Revenue 2009-2013 102
  • 9. List of Exhibits Figure Slide Number NEC Authentication Revenue 2009-2013 103 Nuance Communications Authentication Revenue 2009-2013 104 PhoneFactor Authentication Revenue 2009-2013 105 RSA Authentication Revenue 2009-2013 106 SafeNet Authentication Revenue 2009-2013 107 SecureAuth Authentication Revenue 2009-2013 108 SyferLock Authentication Revenue 2009-2013 109 Symantec Authentication Revenue 2009-2013 110 VASCO Authentication Revenue 2009-2013 111 Yubico Authentication Revenue 2009-2013 112
  • 10. Market Overview—Key Questions This Study Will Answer What is strong authentication and why is it needed? What are the predominant methods of strong authentication? How will the structure of the market change with time? What is the future of the hardware token? What is the market size for strong authentication from 2010 to 2018? What is the strong authentication revenue for the leading vendors by hardware token, software token, USB key, and biometrics? Source: Frost & Sullivan analysis.
  • 11. Partial List of Companies Interviewed 1. Agnitio 2. Authen2cate 3. Comodo 4. Duo Security 5. Entrust 6. FIDO Alliance 7. Giesecke & Devrient 8. GlobalSign 9. HID Global (ActivID) 10. IBM 11. ID Control 12. Lieberman Software 13. mBlox 14. Nok Nok Lads 15. Nuance 16. NXP 17. RSA 18. SafeNet 19. Scio Security 20. SecureAuth 21. SecurEnvoy 22. Swivel Secure 23. Symantec 24. SyferLock 25. TeleSign 26. TextPower 27. VASCO 28. Verizon 29. Yubico Source: Frost & Sullivan research.
  • 12. Associated Multimedia Visionary IT Portal Market Insight Articles Frost & Sullivan's Interactive ICT Community http://visionary-it.gilcommunity.com/ Complimentary ICT Analyst Insights http://bit.ly/1jNWvIJ Analyst Blogs SlideShare Information & Communication Technologies http://bit.ly/Y153CG Frost & Sullivan’s Technology Presentations http://slidesha.re/1oMWgy4 Analyst Briefings GIL Talks Complimentary ICT Webinars http://bit.ly/1f9CZV6 Frost & Sullivan Thought Leadership Videos http://www.gilcommunity.com/gil-talks
  • 13. Interested in Full Access? Connect With Us ICT Twitter Britni Myers https://twitter.com/FS_ITVision Corporate Communications LinkedIn ICT Group (210) 477-8481 http://linkd.in/1kS4C7c Britni.myers@frost.com SlideShare http://www.slideshare.net/FrostandSullivan Research Authors Lead Analyst: Frank Dickson Industry Principal Network Security Frost & Sullivan Contributing Analyst: Chris Rodriguez Senior Industry Analyst Network Security Frost & Sullivan Research Director: Michael Suby Vice President of Research Stratecast | Frost & Sullivan Facebook https://www.facebook.com/FrostandSullivan Frost & Sullivan Events http://bit.ly/MvPRbQ
  • 14. Global Perspective 40+ Offices Monitoring for Opportunities and Challenges
  • 15. Industry Convergence Comprehensive Industry Coverage Sparks Innovation Opportunities Automotive & Transportation Aerospace & Defense Measurement & Instrumentation Consumer Technologies Information & Communication Technologies Automotive Transportation & Logistics Energy & Power Systems Environment & Building Technologies Healthcare Minerals & Mining Chemicals, Materials & Food Electronics & Security Industrial Automation & Process Control