Industry Background:
Out-of-band authentication is the two-factor authentication that requires a secondary verification technique via a separate communication network along with the ID and password for security. It is used in small medium and large size enterprises mainly in financial institutions, telecommunication, and other authentication security requiring applications for higher security.This growth is primarily driven by Growing Digital Security and Privacy Related Concerns in Various Industries and Need for Protecting the Network and Information Against the Hackers.
Globally, a noticeable market trend is evident Emerging Number of Authentication Options. Major Players, such as HYPR Corp (United States), Thales Group (Gemalto) (France), Deepnet Security (United Kingdom), StrikeForce Technologies (United States), SecurEnvoy Ltd (United Kingdom), Broadcom (United States), Symantec Corporation (United States) and Plurilock Security (Canada) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
On 19th May 2020, StrikeForce Technologies, Inc., announced that it’s building the Industry’s most secure video conferencing solution. Security features include Out-of-Band Authentication, Keystroke Encryption, Video Encryption, Audio Encryption, and the ability to prevent hackers from accessing your camera and microphone even when you're offline.
Regulatory Insights:
"The European Banking Authority (EBA) has recognized that of the different authentication elements (inherence, knowledge, and possession), inherence is the most innovative and fastest moving. Identifying a user by the way they type and swipe, and the angle at which they hold a device was highlighted by the EBA in June 2019 as a compliant way to achieve inherence for Strong Customer Authentication (SCA) as part of the EU’s Second Payment Services Directive (PSD2)."
Market Drivers
- Growing Digital Security and Privacy Related Concerns in Various Industries
- Need for Protecting the Network and Information Against the Hackers
Market Trend
- Emerging Number of Authentication Options
Restraints
- Complexities Involved in the Out of Band Authentication
Opportunities
Surging Demand for the Out of Band Authentication in Financial Institutions as they Require High Level of Security
Challenges
Technology and Supportability Related Problems with Out of Band Authentication
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Out of Band Authentication Study Sheds Light on
— The Out of Band Authentication Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Out of Band Authentication industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
— Where Out of Band Authentication industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
— How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.