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

The World has Changed, Weakening theThe World has Changed, Weakening the Security Once Afforded by Passwords, Finds Frost & Sullivan PR Newswire MOUNTAIN VIEW, California, Feb. 19, 2014 -- Core challenge to authentication is fitting the appropriate mix of cost, usability/flexibility and risk mitigation 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.