Out-of-band (OOB) Authentication Market to Garner USD 4,205 Billion by 2030 | To See Incredible Growth During the Forecast Period 2020-2030

Increase in volume of online transactions, continuous rise in advanced & complex threats, and surge in compliance requirements drive the growth of the global out-of-band authentication market. However, risks regarding OOB authentication with SMS and high product association costs limit the market growth. On the other hand, rise in adoption of OOB authentication by small and medium-sized businesses creates new opportunities in the coming years.

Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/4536

According to the report, the global out-of-band authentication industry generated $553.45 million in 2020, and is expected to reach $4.2 billion by 2030, witnessing a CAGR of 22.8% from 2021 to 2030.

Covid-19 Scenario:

• The implementation of out-of-band authentication increased during the pandemic with adoption of remote working culture and surge in data theft and cyberattacks.

• Financial institutions and enterprises increased adoption to protect their data, reduce fraudulent activities, and prevent unauthorized access. Owing to considerable rise in online banking activities, OBB authentication was implemented to prevent hacking and identity thefts.

For Report Customization:
https://www.alliedmarketresearch.com/request-for-customization/4536

Based on component, the solution segment accounted for the highest share in 2020, contributing to more than two-thirds of the global out-of-band authentication market, and is projected to maintain its lead position throughout the forecast period. This is due to secure dedicated alternate access method provided to an IT network infrastructure to administer connected devices and IT assets. However, the services segment is projected to register the highest CAGR of 25.3% from 2021 to 2030, owing to remotely control and management of critical IT assets and network equipment using a secure connection through a secondary interface that is physically separate from the primary network connection.

Based on industry vertical, the BFSI segment held the largest share in 2020, accounting for more than one-fourth of the global out-of-band authentication industry, and is projected to maintain its leadership status during the forecast period. This is due to rise in online transactions and implementation of hardware and software OTP options to enable OOB authentication and provide an added layer of security. However, the IT and telecom segment is projected to portray the highest CAGR of 27.8% from 2021 to 2030, owing to the ability to monitor and manage networks and keep them up and running.

Access Full Summary at - https://www.alliedmarketresearch.com/out-of-band-OOB-authentication-market

Based on industry vertical, the BFSI segment held the largest share in 2020, accounting for more than one-fourth of the global out-of-band authentication industry, and is projected to maintain its leadership status during the forecast period. This is due to rise in online transactions and implementation of hardware and software OTP options to enable OOB authentication and provide an added layer of security.

However, the IT and telecom segment is projected to portray the highest CAGR of 27.8% from 2021 to 2030, owing to the ability to monitor and manage networks and keep them up and running.

Buy Now & Get Exclusive Discount on this Report:  https://www.alliedmarketresearch.com/out-of-band-OOB-authentication-market/purchase-options

Leading Market Players

• CensorNet

• Deepnet Security

• CA Technologies (Broadcom Inc.)

• Early Warning Services, LLC

• Gemalto N.V. (Thales DIS)

• SecurEnvoy Ltd.

• StrikeForce Technologies, Inc.

• NortonLifeLock, Inc. (Symantec Corporation)

• TeleSign Corporation

• OneSpan (VASCO Data Security International, Inc.)

Inquiry Before Buying:  https://www.alliedmarketresearch.com/purchase-enquiry/4536

Thanks for reading this article; you can also get individual chapter-wise sections or region-wise report versions like North America, Europe, or Asia

If you have any special requirements, please let us know and we will offer you the report as per your requirements.

Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll-Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.