Out-of-Band Authentication Industry development, growth, key factors and forecast to 2027

1. Out-of-Band Authentication Industry development, growth, key factors and forecast to 2027 Market Overview Out-of-band (OOB) Authentication refers to an authentication process that utilizes communications channel and one of the potential types of two-factor authentication among enterprises that call for high security. Out-of-band (OOB) Authentication is commonly used by online banking websites, financial institutions, and other organizations. For instance, in online banking, to complete the login process, an authentication code is sent via SMS to the account holder’s mobile device. The Out-of-band (OOB) Authentication system is used to provide extra protection against unauthorized access and confirmations, and prevents hacking and fraud. This system effectively blocks many kinds of hacking and identifies theft in an online banking websites. Multifactor authentication systems primarily use credentials such as passwords, security tokens, cellphones, PINs, and smart cards for authentication. The OOB authentication method comprises mobile phone-based OOB authentication tokens, including backup call and SMS and hardware OOB authentication tokens. Request Sample Copy Of This Business Report: https://www.coherentmarketinsights.com/insight/request-sample/2774 Market Dynamics The exponential rise in the volume of online transactions as well as rise in compliance requirements are one of the major drivers contributing to growth of the global out-of-band (OOB) authentication market. A number of consumers depend on internet for the online transactions, which has increased the frequency of cyber-attacks majorly on websites where online transactions are significantly high. Moreover, hackers always target lucrative sectors, which have a huge online customer base. Thus, to counter these cyber-attacks, various organizations are adopting authentication methods such as phone- based authentication, software OTP tokens, hardware one-time passwords (OTP) tokens, and others to make secure online transactions. For instance, in April 2019, Worldpay, Inc., a global payment technology provider, announced the launch of ‘FraudSight’, which is a new solution designed to prevent the fraud and optimize approval rates, potentially boosting revenue across all channels. According to the Worldpay, Inc., FraudSight can make transaction validity decisions for merchants of all sizes. Get Request Customization Copy Of This Business Report: https://www.coherentmarketinsights.com/insight/request-customization/2774 Key players operating in the global Out-of-Band authentication market include Broadcom, Entrust Datacard Corporation, Deepnet Security, Early Warning Services, LLC, Gemalto NV, SecurEnvoy Ltd, StrikeForce Technologies, Inc., TeleSign, Symantec Corporation, OneSpan Inc., DynaPass Inc., and Duo among others. About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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