New Report says Rainbow’s iKey is the Worldwide Market Share Leader for USB Authentication Keys
New Internet Security Report Says the USB Token Market will have substantial growth due to Low Price and Greater Convenience
IRVINE, Calif., November 11, 2002 – A recent Internet security report on authentication and biometric technologies, “Worldwide Hardware and Biometrics Authentication Market Forecast and Analysis 2001-2006,” dated October 2002 from IDC, Framingham, Mass., identifies the Rainbow Technologies iKey as the world’s market share leader in the USB authentication token market with a 50 percent share.
Rainbow Technologies, Inc. (Nasdaq: RNBO), a leading provider of digital content and transaction security for the Internet, and a leader of instant private Web technology, had 50 percent of the estimated $7.5 million USB key market in 2001. The IDC report predicts that USB tokens will have strong growth due to their lower cost per user, and greater convenience and ease of use when compared against traditional tokens and smart cards. The report estimates that by 2006, USB keys will be a $200 million market.
“IDC continues to see strong potential for USB keys for end-user authentication through the next several years,” said Charles Kolodgy, research manager, Internet security, IDC. “IDC believes that Rainbow’s commitment to continuing product development, engineering and worldwide markets positions iKey for the future as a leading product in this rapidly-growing market.”
“The USB key’s security, flexibility, ability to be rapidly deployed and end-user convenience and driving the adoption of this key security element and the iKey continues to be one of our fastest growing eSecurity products, addressing both the needs of our existing markets as well as opening up new ones for us.” said David M. Lynch, vice president of worldwide marketing, Rainbow Technologies. “Within the Rainbow technologies product portfolio, the USB key is providing two-factor authentication to a new class of security appliances that creates an instant private Web, allowing organizations to use the ubiquity and power of the Internet in a new and innovative way – with complete and easily deployed security.”
About iKey
Rainbow’s iKey is the industry’s leading family of USB-based Web authentication tokens, and is available in versions for Microsoft Windows 2000 environments, as well as for public key infrastructure (PKI) and high-assurance environments.
The iKey 2000 allows users to store their digital identities on a device that fits on a key chain. The iKey 2000 is specifically designed for use in PKI environments where on-board private key signing and storage is critical. The iKey 2000 series supports enterprise, business-to-business and business-to-consumer applications built on all major PKI systems out of the box, including: eTrust PKI, Microsoft (Internet Explorer and Outlook), Netscape, Entrust, Baltimore, Xcert, Verisign, Check Point, KyberPASS and many others. The iKey 2032 was awarded FIPS 140-1 Level 2 certification last year by the National Institute of Standards and Technology (NIST). In addition, Rainbow offers the iKey 1000 series for a cost-effective security key for B2C loyalty and branding, Windows 2000 security and secure remote-access. Rainbow is also working with SOFTBANK on using the iKey 1000 to provide hardware-based two-factor authentication for personal digital assistant (PDA) devices in the PocketPC form factor running Windows CE.
About Rainbow Technologies
Founded in 1984, Rainbow Technologies is a leading provider of proven information security solutions for mission-critical data and applications used in business, organization and government computing environments. With headquarters in Irvine, Calif., Rainbow maintains offices and authorized distributors throughout the world. For more information, visit the Web site at www.rainbow.com.