Analyzing Out of Band Authentication Software Market: Global Industry Perspective and Forecast (2024 to 2031)

The "Out of Band Authentication Software Market" is focused on controlling cost, and improving efficiency. Moreover, the reports offer both the demand and supply aspects of the market. The Out of Band Authentication Software market is expected to grow annually by 8.5% (CAGR 2024 - 2031).

This entire report is of 102 pages.

Out of Band Authentication Software Introduction and its Market Analysis

The Out of Band Authentication Software market research report highlights that Out of Band Authentication Software is a security measure used to verify a user's identity via a separate channel, reducing the risk of unauthorized access. The target market includes industries with sensitive data such as banking, finance, and healthcare. The major driving factors for revenue growth in this market include increasing instances of cyber attacks, regulatory requirements for data security, and the rising adoption of cloud-based services. Key players in the market include Broadcom, Gemalto, Strikeforce Technologies, Swivel Secure, ASL, CensorNet, Deepnet Security, EZMCOM, Early Warning, SecurEnvoy, and TeleSign. The main findings of the report suggest a growing demand for advanced security solutions in response to evolving cyber threats, with recommendations for companies to invest in innovative technologies to stay ahead of the curve.

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Out of Band Authentication Software market is witnessing significant growth, driven by the increasing adoption of Two-Factor and Multifactor Certification for securing sensitive data in Payment Card Industry (PCI), Banking, Financial Services, And Insurance (BFSI), and Government sectors. This software offers an extra layer of security by requiring users to verify their identity through a separate channel, reducing the risk of unauthorized access. Regulatory and legal factors specific to this market include compliance with data protection laws and industry standards, such as GDPR and PCI DSS. Security breaches and cyber threats are also driving the demand for robust authentication solutions in the market, further fueling its growth. As organizations strive to protect their valuable data and maintain regulatory compliance, the Out of Band Authentication Software market is expected to witness steady growth in the coming years.

Top Featured Companies Dominating the Global Out of Band Authentication Software Market

The Out of Band Authentication Software Market is highly competitive with key players such as Broadcom, Gemalto, Strikeforce Technologies, Swivel Secure, ASL, CensorNet, Deepnet Security, EZMCOM, Early Warning, SecurEnvoy, and TeleSign dominating the market. These companies offer a range of out-of-band authentication solutions including biometric authentication, one-time passwords, push notifications, and more.

Broadcom, a leading semiconductor company, offers a comprehensive suite of out-of-band authentication solutions to secure sensitive data and prevent unauthorized access. Gemalto, a digital security company, provides multi-factor authentication solutions that combine out-of-band verification with mobile security technologies. Strikeforce Technologies specializes in developing patented out-of-band authentication technology to protect user credentials and prevent identity theft.

Swivel Secure offers a range of adaptive authentication solutions that utilize out-of-band channels to verify user identities effectively. ASL provides secure authentication services for enterprises, including out-of-band authentication solutions to protect against cyber threats. CensorNet offers cloud-based authentication solutions that utilize out-of-band channels to secure access to critical applications and data.

Deepnet Security specializes in providing secure access solutions, including out-of-band authentication technologies to enhance security for businesses of all sizes. EZMCOM offers comprehensive authentication solutions, including out-of-band verification, to protect corporate networks and sensitive data from unauthorized access. Early Warning provides real-time fraud prevention solutions that leverage out-of-band authentication to enhance security for financial transactions.

In terms of sales revenue, Gemalto generated approximately $3 billion in revenue in 2020, while Broadcom reported revenues of over $20 billion in the same period. Strikeforce Technologies reported revenues of around $5 million in 2020. These companies play a crucial role in driving the growth of the Out of Band Authentication Software Market by providing innovative and reliable authentication solutions to meet the increasing security needs of organizations worldwide.

• Broadcom
• Gemalto
• Strikeforce Technologies
• Swivel Secure
• ASL
• CensorNet
• Deepnet Security
• EZMCOM
• Early Warning
• SecurEnvoy
• TeleSign

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Out of Band Authentication Software Market Analysis, by Type:

• Two-Factor Certification
• Multifactor Certification

Out of Band Authentication Software, such as Two-Factor Certification and Multifactor Certification, adds an extra layer of security by requiring users to verify their identities through multiple means. Two-Factor Certification typically involves something the user knows (password) and something the user has (smartphone). Multifactor Certification includes an additional authentication factor, such as biometric data or security questions. These methods help in boosting the demand for Out of Band Authentication Software as they provide stronger security measures against cyber threats, identity theft, and unauthorized access, making it an essential tool for organizations looking to protect sensitive data.

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Out of Band Authentication Software Market Analysis, by Application:

• Payment Card Industry (PCI)
• Banking, Financial Services, And Insurance (BFSI)
• Government

Out of Band Authentication Software is used in PCI to enhance security in online transactions, BFSI to protect sensitive financial information, and Government to secure access to confidential data. This software verifies users' identities through a second communication channel, such as a mobile device, ensuring added security against cyber threats. The fastest growing application segment in terms of revenue is Banking, as financial institutions increasingly rely on out of band authentication to combat fraud and cyber attacks, and to comply with regulatory requirements.

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Out of Band Authentication Software Industry Growth Analysis, by Geography:

North America:

• United States


• Canada

Europe:

• Germany


• France


• U.K.


• Italy


• Russia

Asia-Pacific:

• China


• Japan


• South Korea


• India


• Australia


• China Taiwan


• Indonesia


• Thailand


• Malaysia

Latin America:

• Mexico


• Brazil


• Argentina Korea


• Colombia

Middle East & Africa:

• Turkey


• Saudi


• Arabia


• UAE


• Korea

The Out of Band Authentication Software market is expected to witness significant growth in regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the market with a market share percentage valuation of approximately 35%, followed by Europe with around 25%. Asia-Pacific is also expected to witness substantial growth with a market share of around 20%. Latin America and Middle East & Africa are expected to contribute significantly to the market as well, with a market share of approximately 10% each. The increasing adoption of advanced security measures in these regions is driving the growth of the Out of Band Authentication Software market.

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