Global Out of Band Authentication Market was valued at USD xx Mn in 2019 and is expected to reach USD xx Mn by 2027 at a CAGR of xx% over the forecast period 2020-2027.
The report covers an in-depth analysis of COVID-19 pandemic impact on Global Out of Band Authentication Market by region and on the key players revenue affected till July 2020 and expected short term and long-term impact on the market.
Global Out of Band Authentication Market Dynamics:
Out-of-band (OOB) Authentication may be a verification technique that uses 2 totally different networks that job simultaneously; this sort of refined authentication system is employed to produce additional protection against unauthorized access and confirmations, and prevents fraud and hacking. Out of Band Authentication also assists employees to be more efficient, in addition to solving security issues, and IT agencies will provide them with the apps and data they need to execute work-related activities on mobile devices. Effectively block many types of piracy and identify theft in online banking. Multi-factor authentication systems primarily use credentials such as passwords, security tokens, cell phones, PINs, and smart cards for authentication. The increasing demand for growing usage of speed internet, social media, smartphones amongst businesses for accessing media and files from any system will play prominent role in the growth of Out of Band Authentication market. With the tailored corporate connectivity strategies, businesses can exploit the benefits of mobile computing when handling an array of mobile devices and wireless networks effectively. From last decade, the exponential rise of mobile devices enables the users to work in an organised operability, efficient manner and delivers the customer experience flawlessly. With the proliferation of mobile applications, organizations are in a need to monitor the version, protection, and data of the apps. For applications such as banking, purchases and loyalty, where sensitive personal information is transacted from a mobile device, this is especially important. Out of Band Authentication created out of SMS (MDM), which mainly focused exclusively on monitoring and security at the device level. Most Out of Band Authentication vendors have prolonged advanced into unified endpoint management (UEM) following Microsoft’s 2015 release of Windows 10, allowing IT to handle PCs and mobile devices from a single console. The rapid adoption of IoT and cloud computing technologies will witness to create lucrative opportunities for market over the forecast period. The growing need for hassle-free OOBA solutions among organizations, stringent data protection rules for information security, the increasing incidence and sophistication of authentication fraud and data breaches, and the increasing proliferation of digital payment methods are key market drivers.
Global Out of Band Authentication Market is segmented by solution, by deployment, industry vertical, and organization size and by region. By solution, SMS is anticipated to account for a major share during the forecast period in 2019 and is expected to keep its dominance over the forecast period owing to the increasing tablet and smartphone ownership along with enormous product growth. In the upcoming years, the increasing need for SMS solutions to handle and further synchronise with several different channels using a single console is expected to boost the growth. By deployment, cloud-based held the highest market share in 2019 due to the agile, smooth, scalable, and inexpensive characteristics, which was easily incorporated by different businesses in the corporate landscape. The growth of the cloud-based applications is due to the penetration of internet-of-things applications. By industry vertical, IT & telecommunications segment held the highest market share in 2019 and is expected to keep its dominance over the forecast period. Due to the rising improved awareness about the use of organizational mobility tools to complement unified communications and collaboration systems capabilities. By organization size, large organization segment held the largest market share due to the large investments on requirements on the Out of Band Authentication.
By geography, global Out of Band Authentication market is segmented into North America, APAC, Europe, MEA & Africa and South Africa. Among these, North America held the highest market share of xx% in 2019 and is expected to keep its dominance over the forecast period owing to the growing demand across various end-user industries for advanced technology in this region. In addition to that, rising BYOD penetration, deployment of 5G, growing adoption of smartphone. The service in the market in APAC is forecasted to expand at a significant pace on account of the growing penetration of internet as well as digitization in countries such as India, China, Korea, etc.
Report covers in-depth analysis of key development, marketing strategies, supply-side and demand side indicators and company profiles of market leaders, potential players, and new entrants. Key players operating in this market are adopting various organic and inorganic growth strategies such as merger & acquisitions, joint ventures, collaborations, expansion, new product launches and patents to increase their regional presence and business operations.
The objective of the report is to present a comprehensive analysis of the Global Out of Band Authentication Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Out of Band Authentication Market dynamics, structure by analyzing the market segments and project Global Out of Band Authentication Market Clear representation of competitive analysis of key players by price, financial position, Product portfolio, growth strategies, and regional presence in the Global Out of Band Authentication Market the report investor’s guide.
Scope of Global Out of Band Authentication Market
Global Out of Band Authentication Market Segmentation by Solution
• Push Notification Voice
Global Out of Band Authentication Market Segmentation by Deployment
Global Out of Band Authentication Market Segmentation by Industry Vertical
• Banking, Financial Services & Insurance
• IT & Telecommunications
• Travel and Transportation
• Food and Beverage
Global Out of Band Authentication Market Segmentation by Organization Size
• Large Enterprises
• Small Medium Enterprises
Global Out of Band Authentication Market Segmentation by Region
• North America
• ME & Africa
• South Africa
Global Out of Band Authentication Market Major Players
• CA Technologies
• CensorNet Ltd.
• Deepnet Security
• Duo Security
• Early Warning Services LLC
• Entrust Datacard
• i-Sprint Innovations
• Nok Nok Labs
• Ping Identity
• RSA Security
• SecurEnvoy Ltd.
• StrikeForce Technologies Inc.
• Symantec Corporation
• VASCO Data Security International Inc.
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