Out-of-band (OOB) Authentication Market
The rise in OOB authentication adoption by SMEs offers many opportunities for the out-of-band authentication market.
PORTLAND, PORTLAND, OR, UNITED STATE, July 29, 2024 /
EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “
Out-of-band (OOB) Authentication Market," The out-of-band (oob) authentication market was valued at $553.45 million in 2020, and is estimated to reach $4.2 billion by 2030, growing at a CAGR of 22.8% from 2021 to 2030.
Rise in volume of online transaction, continuous increase in advanced & complex threats, and rise in compliance requirements drive growth of the global out-of-band authentication market growth. However, risk included in OOB authentication with SMS and high product association costs hamper the out-of-band authentication industry.
Request Sample Report at:
https://www.alliedmarketresearch.com/request-sample/4536
The solution segment dominated the global market in 2020, and is expected to remain dominant during the forecast period, owing to surge in adoption of hardware OOB authenticators among end users.
By industry vertical, the BFSI segment led the market in 2020, and is projected to maintain its dominance in the future. However, the IT & telecom segment is expected to witness highest growth, owing to enforcement of regulations by regulatory authorities related to data security.
North America generated the highest revenue in 2020; however, the Asia-Pacific segment is anticipated to witness fastest growth rate during the out-of-band authentication market analysis.
For Report Customization:
https://www.alliedmarketresearch.com/request-for-customization/4536
During the COVID-19 pandemic, most financial institutions adopted online banking and enterprises started to operate in work from home. Thus, the need for out of band authentication increased during the pandemic as chances of data theft and virus attacks increased and financial institutions and enterprises to protect their data, adopted out of band authentication. Therefore, the COVID-19 pandemic had a positive impact on the out-of-band authentication industry.
KEY FINDINGS OF THE STUDY
The solution segment accounted for the highest revenue in the global out-of-band authentication market size during the forecast period.
In 2020, the BFSI segment accounted for the highest revenue among the other industry verticals in the global out-of-band authentication market share.
North America generated the highest revenue in 2020.
Asia-Pacific is projected to exhibit substantial growth during the out-of-band authentication market forecast period.
Buy Now & Get Exclusive Report at:
https://www.alliedmarketresearch.com/out-of-band-OOB-authentication-market/purchase-options
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR 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.
AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients’ requirements is complemented with analyst support and customization requests.
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
David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
Twitter