Out-of-Band Authentication Market Growth Accelerated by Rising Demand for Secure User Authentication

Lucy Kart

Out-of-Band Authentication Market Growth Accelerated by Rising Demand for Secure User Authentication

Out-of-band authentication (OOBA) provides an additional layer of security for login process by leveraging a separate communication channel different from the primary network for identity verification. OOBA is gaining traction due to growing demand for multi-factor authentication from businesses across industries to prevent unauthorized access, safeguard confidential data and mitigate security risks. Products in the OOBA market include hardware tokens, phone call, SMS, push notification and e-mail verification. They provide a simple and convenient solution for organization to securely identify and authenticate users during logins without compromising user experience.

The global Out-of-Band Authentication Market is estimated to be valued at US$ 1.36 Bn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The growing adoption of cloud-based applications and the increasing instances of cybercrimes are propelling the demand for out-of-band authentication solutions globally. Cloud computing has transformed how enterprises operate by providing on-demand access to shared pools of configurable computing resources like networks, servers, storage, applications and services. However, migration of workloads to public clouds has also increased security concerns regarding data privacy and confidentiality. Out-of-band authentication is increasingly being leveraged by cloud service providers and organizations to securely access cloud applications and resources from any location. This is expected to drive the growth of OOBA market over the forecast period.

Segment Analysis

The global out-of-band authentication market is dominated by single-use codes segment. This is mainly due to its ubiquitous usage in multi-factor authentication for email and web logins. The single-use codes such as one-time passwords are directly sent to users' registered mobile numbers or emails during the authentication process, adding an extra layer of security beyond username and password.

Key Takeaways

Global Out-Of-Band Authentication Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. Continuous developments in the market—including new product launches, mergers & acquisitions, agreements, and expansions—are expected to help the market grow.

Regional analysis

North America dominates the global out-of-band authentication market currently due to high technology adoption and stringent cybersecurity regulations. The region is expected to continue its dominance in the coming years led by growing digitalization of enterprises and rising BYOD trend. Asia Pacific is projected to witness the fastest growth during the forecast period with increasing cyber threats and initiatives towards digital transformation across industries in major countries like China and India.

Key players

Key players operating in the Out-of-Band authentication market are The Chemours Company (US), Daikin Industries, Ltd. (Japan), 3M (US), The AGC Group (Japan), Solvay (Belgium), HaloPolymer, OJSC (Moscow), Dongyue Group Limited (China), Gujarat Fluorochemicals Limited (India), Jiangsu Meilan Chemical Co. Ltd. (China), and Shanghai Huayi 3F New Materials Co. Ltd. (China). Continuous developments in the market—including new product launches, mergers & acquisitions, agreements, and expansions—are expected to help the market grow. Leading manufacturers of PTFE have opted for new product launches to sustain their market position.

Get More Insights on this Topic- https://www.rapidwebwire.com/out-of-band-authentication-market-demand-size-share-and-outlook/

Lucy Kart

Global Out-Of-Band (OOB) Authentication Market Is Estimated To Witness High Growth Owing To The Rising Need For Advanced Security Measures

Ashish Thapa 2023-08-14

The global Out-of-Band (OOB) Authentication market is estimated to be valued at $553. A) Market Overview:The Out-Of-Band (OOB) Authentication Market provides a strong and secure approach to verifying user identities in various applications and industries. C) Market Key Trends:One of the key trends observed in the Out-Of-Band Authentication Market is the integration of biometric authentication methods. D) SWOT Analysis:Strength 1: Enhanced Security Measures - Out-of-Band Authentication offers a robust security solution to protect sensitive data from unauthorized access. E) Key Takeaways:- The global Out-of-Band Authentication market is expected to witness high growth, exhibiting a CAGR of 22.

Out of Band Authentication Market Historical Analysis, Current Market Scenario 2023

jony toal 2022-11-22

The Out of Band Authentication (OOBA) market is defined as a process that uses two different signals from two or more authentication channels for the authentication of a user. With the difficulties in handling hardware-based solutions and greater flexibility offered by software solutions, the demand for software solutions is increasing. Organizations can avoid certain costs, such as maintenance of infrastructure, and technical staff by using the cloud-based authentication solutions. Low cost of installation, upgrade, and maintenance helps to fuel growth in the adoption of cloud-based out of band authentication solutions. The study includes an in-depth competitive analysis of the key players in the OOBA market, along with their company profiles, recent developments, and key market strategies.

Global Out-of-Band (OOB) Authentication Market is Estimated to Witness High Growth Owing to the Rising Need for Advanced Security Measures

sachin sadgir 2023-08-21

The global Out-of-Band (OOB) Authentication market is estimated to be valued at $553. This market is witnessing significant adoption due to the increasing need for advanced security measures and protecting sensitive data from cyber threats. Firstly, the rising number of cyberattacks and data breaches has compelled organizations to enhance their security measures. Biometrics, such as fingerprint or facial recognition, add an extra layer of security to the authentication process. Strength 2: Convenient User Experience - The use of mobile channels for authentication provides users with a seamless and convenient experience.

How LANTRONIX SLC 8000 helps reduce costs of on-site visits to your data center infrastructure

Sapply IT Distribution 2022-03-02

How LANTRONIX SLC 8000 helps reduce costs of on-site visits to your data center infrastructureAccording to Research and Markets, the global data center market is expected to grow at a compound annual growth rate of more than 2 percent during the period 2019–2025. While today’s data centers are constructed with a high regard for physical security and efficiency, there is an ongoing cost for each visitor that enters the site. The Solution: To reduce the foot traffic in your data center, Lantronix’s SLC 8000 advanced console server integrated with ConsoleFlow™ provides centralized management software. The Solution: The SLC 8000 provided the customer’s IT professionals the ability to monitor, manage and troubleshoot servers and IT infrastructure from anywhere and at any time. By establishing secure, reliable connectivity to the data center, IT professionals can now diagnose and resolve problems immediately – right from their desk.

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The Out-Of-Home Advertising Global Market Report 2021-31 by The Business Research Company describes and explains the global out-of-home advertising market and covers 2016 to 2021, termed the historic period, and 2022 to 2026, termed the forecast period, along with further forecasts for the period 2026-2031. The report evaluates the market across each region and for the major economies within each region. The OOH advertising market is expected to reach $40. id=3508&type=smp Out-Of-Home Advertising Global Market Report 2022 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. TBRC’s report covers the out-of-home advertising market segments- 1) By Type: Billboard, Transport, Street Furniture, Transit Displays, Others2) By Platform: Static, Digital3) By Application: Food and Beverage Industry, Vehicle Industry, Health and Medical Industry, Commercial and Personal Services, Consumer Goods, Others About The Business Research Company: The Business Research Company is a market intelligence firm that excels in company, market, and consumer research.

Digital out of Home Market Demands, Trends, Industry Analysis, Segmentation, Insight, Scope, & Forecast by 2028.

Google 2022-12-29

Also, market share analysis and key trend analysis are the major success factors in the market report. For better understanding of the market and leading business growth, digital out of home market research report is the ideal solution. com/reports/global-digital-out-of-home-market Key Players Digital out of Home MarketØ OUTFRONT Media Inc. dbmr=global-digital-out-of-home-market Digital out of Home Market Country Level AnalysisThe countries covered in the compression therapy market report are U. dbmr=global-digital-out-of-home-marketAbout Us: Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches.

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Along with an industrial chain, market statistics in terms of revenue, sales, price, capacity, regional market analysis, segment-wise data, and market forecast information are offered in the full study, etc.

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