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Out-of-Band (OOB) Authentication Market Size, Trends, Share, and Forecast 2024-2032

  • Writer: ravinder imarc
    ravinder imarc
  • Sep 11, 2024
  • 3 min read

IMARC Group's latest research report, titled "Out-of-Band (OOB) Authentication Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032," offers a comprehensive analysis of the out-of-band authentication market forecast. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.


The global out-of-band (OOB) authentication market size reached US$ 1.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 6.6 Billion by 2032, exhibiting a growth rate (CAGR) of 19.69% during 2024-2032.

Out-of-Band (OOB) Authentication Market Trends:


The global market is primarily driven by the rising incidence of cyber threats and fraudulent activities, necessitating more robust security measures across digital platforms. Moreover, the increasing adoption of mobile banking and online transactions has elevated the need for advanced authentication solutions that ensure secure access to sensitive information. Furthermore, regulatory requirements and compliance standards for data protection are prompting organizations to implement OOB authentication as a critical component of their security strategies.


Additionally, the growing awareness of identity theft risks among consumers is encouraging the adoption of multi-factor authentication methods, including OOB solutions, to enhance user confidence and trust. The expansion of cloud services and remote working trends also contribute to the demand for secure and reliable authentication methods. Besides, advancements in technology, such as artificial intelligence and machine learning, are enabling the development of more sophisticated OOB authentication solutions.   



Out-of-Band (OOB) Authentication Market Scope & Growth Analysis:


The scope of the market is broadening as industries are adopting OOB authentication solutions to safeguard sensitive data and prevent unauthorized access. This includes sectors such as banking, financial services, healthcare, and government, where data security is paramount. Another factor enhancing the market scope is the integration of OOB authentication with existing IT infrastructures, which allows organizations to enhance security without overhauling their systems completely. As businesses increasingly digitize their operations, there is a growing need for reliable security measures, further expanding the potential customer base for OOB authentication providers.


Additionally, the global expansion of digital services and the increasing complexity of cyber-attacks are pushing companies to adopt more advanced authentication solutions, creating new opportunities in emerging markets. The rise of regulatory frameworks focused on enhancing cybersecurity standards also plays a crucial role in expanding the market's reach. Moreover, advancements in mobile technology and the proliferation of smartphones are making OOB authentication more accessible and user-friendly, thereby driving wider adoption.     


Competitive Landscape with Key Players:

  • Deepnet Security

  • Early Warning Services LLC

  • i-Sprint Innovations Pte Ltd

  • OneSpan

  • Ping Identity Corporation

  • RSA Security LLC

  • SAASPASS

  • SecurEnvoy (Shearwater Group plc)

  • SolidPass

  • StrikeForce Technologies Inc.

  • Thales Group


Key Market Segmentation:


Component Insights:


  • Solution

    • Hardware

    • Software

  • Services


Authentication Channel Insights:

  • SMS

  • Email

  • Push Notification

  • Voice

  • Token-based

  • Others


Deployment Mode Insights:


  • On-premises

  • Cloud-based


Enterprise Size Insights:


  • Large Enterprises

  • Small and Medium-sized Enterprises


Industry Vertical Insights:

  • BFSI

  • IT and Telecom

  • Government and Defense

  • Retail

  • Healthcare

  • Media and Entertainment

  • Others


Breakup by Region:


  • North America (United States, Canada)

  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)

  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)

  • Latin America (Brazil, Mexico, Others)

  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)


Key Highlights of the Report:


  • Market Performance 

  • Market Outlook

  • Porter’s Five Forces Analysis

  • Market Drivers and Success Factors

  • SWOT Analysis

  • Value Chain

  • Comprehensive Mapping of the Competitive Landscape


Why Choose IMARC Research Report:


  • Strong Market Research Expertise

  • Targeted Marketing Strategies

  • Innovative Solutions

  • Comprehensive Analysis

  • Accuracy and Reliability

  • Provides Insightful Forecasts

  • Available Customization Options

  • Strong Customer Service


Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.


About Us:


IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.


Contact US:


IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

Tel No:(D) +91 120 433 0800

United States: +1-631-791-1145

 
 
 

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