DUBLIN--(BUSINESS WIRE)--Jun 11, 2018--The "Out-of-band (OOB) Authentication Market by Solution Type and End User - Global Opportunity Analysis and Industry Forecast, 2017-2023" report has been added to ResearchAndMarkets.com's offering.

The growth of the global out-of-band authentication is driven by rise in volume of online transactions, continuous increase in advanced & complex threats, and rise in compliance requirements. However, risks associated with OOB authentication with SMS and high product association costs are some of the major restraints of this market. On the contrary, upsurge in adoption of OOB authentication by small- & medium-sized businesses is expected to provide potential opportunities for market expansion.

Out-of-band (OOB) authentication is a verification technique, which uses two different networks that work simultaneously. This type of sophisticated authentication system is used to provide extra protection against unauthorized access and confirmations, and prevents many frauds and hacking. It effectively blocks many kinds of hacking and identifies thefts in online banking. 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.

KEY MARKET SEGMENTS

BY SOLUTION TYPE

Hardware OOB authentication Phone-based OOB authentication

BY END USER

Banking, Financial Services & Insurance Payment Card Industry Government Healthcare Others

KEY MARKET PLAYERS

CA Technologies CensorNet Ltd. Deepnet Security Early Warning Services, LLC Gemalto NV SecurEnvoy Ltd. StrikeForce Technologies, Inc. Symantec Corporation TeleSign VASCO Data Security International, Inc.

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SOURCE: Research and Markets

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PUB: 06/11/2018 04:58 AM/DISC: 06/11/2018 04:58 AM

http://www.businesswire.com/news/home/20180611005428/en