Get In Touch

Out-of-band authentication (OOBA) is a two-factor authentication technique that requires two different verification methods from two different networks that work simultaneously. This authentication method is used to provide extra security against unauthorized access and prevent hacking and fraud. The authentication solution automatically blocks many kinds of thefts and hacking in online or net banking. The out-of-band authentication method includes call and SMS, OTP, mobile phone-based OOB authentication tokens, and others.

The global Out-of-band authentication solutions and services market is primarily driven by a rise in the volume of online transactions. Currently, a number of users depend on the Internet for transactions, which has increased the occurrence of cyberattacks, mainly on websites where online transactions are high. Hackers focus on those sectors that have a significant online customer base such as the banking industry. A continuous increase in advanced and complex threats is projected to fuel demand for Out-of-band authentication solutions and services across the world in the near future. This is mainly because simple authentication is not enough to stop these cyberattacks. Currently, a rise in compliance requirements is expected to boost demand for Out-of-band authentication (OOBA) solutions and services around the globe. This is primarily because concerns about data privacy have increased demand for Out-of-band authentication solutions from industries handling critical data such as payment card, baking, insurance, and health care. Furthermore, a rise in the adoption of digital payment modes by users is anticipated to fuel the Out-of-band authentication solutions market. Moreover, an increase in the number of Internet of Things (IoT) and connected devices are expected to boost the Out-of-band authentication solutions market.

However, lack of awareness about cyberattacks is expected to restrain the Out-of-band authentication solutions and services market. In the banking and insurance sector, even a single cyberattack can lead to an irreparable loss. Thus, the need to reduce cyberattacks is anticipated to create growth opportunities for the Out-of-band authentication solutions and services market in the next few years.

The global Out-of-band authentication solutions and services market can be segmented based on component, enterprise size, authentication technology, industry, and region. Based on component, the market can be classified into solutions and services. The solutions segment can be further split into hardware Out-of-band authentication and phone-based Out-of-band authentication. The services segment can be further divided into professional services and managed services. In terms of enterprise size, the market can be categorized into small and medium enterprises and large enterprises. Based on authentication technology, the market can be divided into SMS, e-mail, OTP (one-time passcodes), push notification, and phone callbacks. In terms of industry, the market can be classified into banking, financial services, government and defense, health care, IT and telecom, and retail.

In terms of region, the global Out-of-band authentication solutions and services market can be segmented into Europe, North America, South America, Middle East & Africa, and Asia Pacific. The Out-of-band authentication solutions and services market in North America is expected to expand at a significant rate during the forecast period. This is primarily due to a rise in awareness about cyberattacks among users in the region. Asia Pacific is projected to be a rapidly growing region of the Out-of-band authentication solutions and services market during the forecast period. The region is estimated to present lucrative opportunities to the Out-of-band authentication solutions and services market in the near future. Factors such as increase in awareness about digital transactions, frauds, and cyberattacks are propelling demand for Out-of-band authentication solutions and services in the region.

Major players operating in the global Out-of-band authentication solutions and services market include SolidPass, CA Technologies (Broadcom Inc.), Symantec Corporation, Ping Identity Corporation, RSA Security LLC, Entrust Datacard Corporation, EZMCOM Inc., OneSpan Inc., StrikeForce Technologies, Inc., SecurEnvoy Ltd, and Nok Nok Labs, Inc..

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

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

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.


Out Of Band Authentication Solutions Services Market

Pre Book