Due to the growing threat of hacking and identity fraud, vendors of hardware and software solutions for online transaction security are set to commence battle. Therefore, increased security requirements for online transactions will determine cumulative shipments of hardware-based solutions, including one-time-password (OTP) generators, portable smart card readers and USB tokens reach 1.8 billion units by the end of 2016, a recent survey has revealed.

According to a new study called “Online ID & Authentication”, conducted by ABI Research, greater development of more user-friendly software in browsers and on mobile devices will result in software solutions representing 60 percent of shipments in 2016.

The study has pointed out that an explosion of mobile software solutions shipping into the market will occur from 2013. Due to the growing number of threats, mobile software solutions are expected to register 392 of million annual shipments in 2016.

ABI Research’s study provides regional forecasts for biometric sensors in mobile devices, enhanced browser-based software, mobile device software, OTP generators, portable smartcard readers and USB tokens across several markets.