Out-of-Band Authentication Market: Key Findings, Conclusions and Implications for Practice

Out-of-band authentication (OOBA) is a two-factor authentication technique that needs two distinct verification methods from two distinct networks that operate simultaneously. Using this authentication method helps to protect against unauthorized access as well as fraud and hacking. The out-of-band authentication procedure includes call and SMS, OTP, tokens for OOB authentication based on mobile phones, and other methods. The U.S. Securities and Exchange Commission reports that spear-phishing attacks, ransomware attacks, and spoofing or business email compromise (BEC) attacks have all increased by 250%, 350%, and 70%, respectively, in businesses. Additionally, from US$ 4.9 million in 2017 to US$ 7.5 million in 2018, the average cost of a cyber-data breach has increased. The global Out-of-Band authentication market is anticipated to grow as a result of all these factors.

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The industry concentration ratio and the most recent developments for the market share are shown using tables, figures, graphs, and charts. The report covers product classification, application areas, and geographic regions to explain the perception and scope of the market. Both quantitative and qualitative data from primary and secondary statistical sources are included in the study. This report offers detailed support for businesses and people interested in the market by providing important statistics on the state of the industry. Enhancing the fundamental leadership capabilities of clients and new players in the industry is one of the main objectives of this report.

Top Key Players: 

Major market participants in the out-of-band authentication space include CA Technologies, Gemalto NV, Symantec Corporation, StrikeForce Technologies Inc., Ping Identity, SAASPASS, i-Sprint Innovations, TeleSign, VASCO Data Security International Inc., Deepnet Security, and TeleSign, among others.

The Regional Evaluation

During the forecast period of 2019–2026, it is anticipated that North America, followed by Europe, will account for the largest market size in the global Out-of-band authentication market. One of the driving forces behind the adoption of Out-of-band authentication services and solutions is the rise in the Internet of Things (IoT) and connected devices, as well as the problems they cause. The region would continue to dominate the market during the forecast period due to the presence of numerous OOBA dealers and extensive responsiveness regarding these solutions.

The "Out-of-Band Authentication Market" by Fortune Business Insights is a comprehensive analysis of the market that spans over 60 geographies and offers high-level market segmentation for each one. In the section on regional and national breakdowns, the market in each geography is examined, along with market size by region and nation. It also evaluates the market's past and projected growth, highlights significant trends, and discusses corporate expansion strategies.

Segmentation of the Global Out-of-Band Authentication Market

By Authentication Channel: 

  • SMS

  • Email

  • Push Notification

  • Voice

  • Others

By Industry Vertical: 

  • BFSI

  • IT & Telecom

  • Retail

  • Others

By Region

  • North America (the US and Canada)

  • Europe (the United Kingdom, Germany, France, Italy, Spain, Scandinavia, and the rest of Europe)

  • Asia Pacific (including Japan, China, India, Australia, Southeast Asia, and the remaining countries in the region)

  • South America (including Brazil, Mexico, and the rest of South America)

  • Europe, Asia, and Africa (South Africa, GCC, and the Rest of the Middle East and Africa)

The study examines several crucial elements to comprehend the market, such as the most recent market dynamics, growth potential, development trends, market challenges, development threats, and risk factors. The information is easy to understand thanks to this comprehensive market overview. In addition to offering short- and long-term market forecasts, the study provides an analytical stance on the pertinent global market sector.

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https://www.fortunebusinessinsights.com/industry-reports/out-of-band-authentication-market-100588

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