The growing support from several governments is likely to fuel the market growth in the coming years. The industry is expected to secure US$ 1.2 Billion in 2022.
The global out of band authentication market is estimated to garner US$ 4.3 Billion while exhibiting a 13.2% CAGR during the forecast period. The growing support from several governments is likely to fuel the market growth in the coming years. The industry is expected to secure US$ 1.2 Billion in 2022.
The rising need for frictionless out of band authentication solutions among organizations and stringent data protection regulations for information security is the main driver of the market. Also, the growing instances of authentication relate frauds and data breaches increase the growth of the band authentication market.
The increasing use of cloud-based technology such as artificial intelligence, big data and blockchain in many enterprises impelled the growth of the market.
Also, the increasing adoption of digital payment modes increases the demand of the market in forecasting years which is often used in financial institutions and other organizations with high-security requirements. The services segment is likely to offer remunerative opportunities for the global out of band authentication market.
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Key Takeaways from the Market Study
Competitive Landscape
Key players of the global out of band authentication market include Gemalto, CA Technologies, Symantec, Ping Identity, RSA Security among others. Market players are leveraging strategic collaborative initiatives to increase their market share and increase their profitability. Recent developments among key players are:
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global out of band authentication market presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
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Key Segments Covered in the Out of Band Authentication Market Report
Out of Band Authentication by Component:
Out of Band Authentication by Authentication Channel:
Out of Band Authentication by Deployment type:
Out of Band Authentication by Organisation Size:
Out of Band Authentication by Vertical:
Out of Band Authentication by Region:
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jul 02, 2023