The World has Changed, Weakening the Security Once Afforded by Passwords, Finds Frost & Sullivan - WAFF-TV: News, Weather and Sports for Huntsville, AL

The World has Changed, Weakening the Security Once Afforded by Passwords, Finds Frost & Sullivan

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SOURCE Frost & Sullivan

Core challenge to authentication is fitting the appropriate mix of cost, usability/flexibility and risk mitigation

MOUNTAIN VIEW, Calif., Feb. 19, 2014 /PRNewswire/ -- 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.

For complimentary access to more information on this research, please visit: http://bit.ly/1eNZ8Ci

The explosive increase in users and the sheer number of distinct systems in work and personal lives is highlighting the importance of convenient authentication. Otherwise, the onslaught of system credentials may push users to revert to tactics that invalidate the intended security strength of passwords. As a result, security professionals are actively seeking ways to improve the strength of user authentication on their networks.

"Cloud-based services and bring your own device (BYOD) trends, in particular, demand speedy information exchange through the cloud for business continuity, and hence, security for these applications tops the priority list in most organizations," said Frank Dickson, Network Security industry principal at Frost & Sullivan. "As an extension of remote access to a network's sensitive data, strong authentication is beneficial in credential federation."

However, existing solutions are familiar and embedded in user's routines and so the introduction of new methods will require significant investment in user education. Overcoming strictly legacy hardware token authentication is another challenge.

Vendors must realize strong authentication security is a tool that customers use to manage risk. This means they must communicate the degree to which their solution mitigates risk when compared with competing solutions. Providing a compelling cost/benefit analysis will also aid chief information security officers win budget approval for improved authentication methods.

"The strong authentication market does not have a single future but many futures, as different use cases and levels of requirements will necessitate diverse solutions," opined Dickson. "To that end, attaining technology through acquisitions or licensing is a successful strategy to address product portfolio deficiencies."

Analysis of the Strong Authentication and One-Time Password (OTP) Market is part of the Network Security (http://www.networksecurity.frost.com) Growth Partnership Service program. Frost & Sullivan's related research services include: Analysis of the Global Vulnerability Management Market, Analysis of the Global Web and Email Content Security Market, Analysis of the SIEM and Log Management Market, and Analysis of the Global Mobile Endpoint Protection Market. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

Join Frost & Sullivan's interactive Visionary IT portal for the latest Information and Communication Technologies research, insights and tools to make winning, long-term business decisions. Visit: http://visionary-it.gilcommunity.com/

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Analysis of the Strong Authentication and One-Time Password (OTP) Market
ND12-74

Contact:
Britni Myers
Corporate Communications – North America
P: 210.477.8481
E: britni.myers@frost.com

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