Out of band Authentication Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

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Out of band Authentication Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Status : March, 2020 | Technology & Media | PPT format

Report Digest


Global Out of Band Authentication Market: Overview

The global out-of-band authentication market is likely to display monumental growth in the near future. Spanning outside the defined band for telecommunications frequency, out-of-band is an activity mainly used for protection from false decode in telecommunication systems.

To define, out of band authentication (OOBA) refers to a process where authentication is carried out using two different signals using two different networks or channels. Using such sophisticated authentication, this prevents many kinds of fraud and hacking.

The report on out of band authentication market delves into past and current trends to assess future growth trends in the said market. To present this, analysts employed industry-centric statistical tools and verifiable research methodologies. Further, prevailing competitive hierarchy in the out of band authentication market and how it is expected to change over the forecast period is a highlight of the report.

Global Out of Band Authentication Market: Notable Developments and Competitive Scenario

  • In recent years, with ceaseless smartphone use, digital transaction is becoming common in India. Financial technology companies are striving to launch new authentication solutions to bolster digital security transactions. In this space, Financial Software and Systems has released FSS Secure3D – a new generation adaptive authentication product. Based on EMVCO 3DS 2.0, it is one among top 20 globally certified products.
  • Entrust Datacard – a leading player in the out of band authentication market made news by expanding availability of its proprietary authentication solution - IntelliTrust Authentication Service. The solution is now available integrated with Microsoft’s Azure Active Directory cloud platform.

Global Out of Band Authentication Market: Key Trends

Majorly fuelling the out of band authentication market is rising need to employ sophisticated authentication technologies to prevent data theft and identity theft. The ever-expanding use of smartphones for digital payments carries risk of loss of critical credentials. Vulnerability of unsecure payment gateways can leak user information to third-parties involved in hacking. In such scenarios, employing out of band authentication technologies adds another layer for data security using online banking.

With such enhanced security features, financial institutions and other organizations that have high security requirements often use out-of-band authentication. Online payment gateways and bank transactions that involve critical information are often paired with out of band authentication technology to safeguard information. This boosts the out of band authentication market.

On the downside, out of band authentication has vulnerabilities too. Out of band authentication is usually carried out via SMS messages on user’s mobile phone, which carries risk of being intercepted or redirected.

For such reasons, the U.S. National Institute of Standards and Technology is updating guidelines for digital online authentication. Once these guidelines are implemented it will offer the next level of security to safeguard online data and online identity. This is likely to have a negative impact on the out of band authentication market.

Global Out of Band Authentication Market: Regional Outlook

The global out of band authentication market could be studied across North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa. Among them, North America is likely to contribute the leading revenue to the overall out of band authentication market. Excessive use of sophisticated authentication to prevent fraud, especially by financial institutions makes North America a key one.

Asia Pacific, on the other hand, is poised to display healthy growth in the out of band authentication market over the forecast period. Due to increasing BYOD practices among both SMEs and large organizations, need to prevent identity theft is leading to the adoption of sophisticated authentication technologies.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.

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