Business Industry Technology

Increase in the usage of online transaction propelling Out-of-band (OOB) Authentication Market by 2023

Out-of-band (OOB) Authentication Market

Out-of-band (OOB) Authentication is a verification technique, which uses two different networks that work simultaneously. This type of sophisticated authentication system is used to provide extra protection against unauthorized access and confirmations, and prevents fraud and hacking. It effectively blocks many kinds of hacking and identifies theft in online banking.

 

Rise in volume of online transactions, continuous increase in advanced & complex threats, and rise in compliance requirements are some of the major factors that have propel the growth of the out-of-band authentication market.

 

Out-of-band (OOB) Authentication Market

 

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According to a recent report published by Allied Market Research, titled, Out-of-band Authentication Market by Solution Type, End User: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global out-of-band authentication market was valued at $274 million in 2016, and is projected to reach at $1,143 million by 2023, growing at a CAGR of 22.80% from 2017 to 2023.

 

The payment card industry segment is expected to witness the highest growth, owing to enforcement of regulations by the regulatory authorities related to data security. North America generated the highest revenue in 2016; however, Asia-Pacific segment is anticipated to witness the fastest growth rate during the forecast period.

 

Major End-User:

  • Banking, Financial Services & Insurance
  • Payment Card Industry
  • Government
  • Healthcare
  • Others

 

Key Benefits

  • This study includes the analytical depiction of the global out-of-band authentication market along with current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities.
  • The current market is quantitatively analyzed from 2016 to 2023 to highlight the financial competency of the industry.
  • Porters Five Forces analysis illustrates the potency of buyers & suppliers in the global out-of-band authentication industry.

 

Market by Geography:

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA

 

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Global Key Player:

The global out-of-band authentication market is dominated by key players such as CA Technologies, CensorNet Ltd., Deepnet Security, Early Warning Services, LLC, Gemalto NV, SecurEnvoy Ltd, StrikeForce Technologies, Inc., Symantec Corporation, TeleSign, and VASCO Data Security International, Inc.

 

About Allied Market Research

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

 

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