OUT-OF-BAND AUTHENTICATION MARKET ANALYSIS

Market Challenges And Opportunities

Furthermore, data privacy concerns have increased in all industries, such as financial services, payment card, baking, insurance, and healthcare sectors. These industries are required to comply with privacy and security requirements set by regulatory authorities, as breach in a compliance can cause financial loss to the company. This has resulted in increased adoption of out-of-band (OOB) authentication methods. However, risks included in out-of-band (OOB) authentication with SMS and the high product association cost has restrained the global out-of-band (OOB) authentication market growth. Furthermore, increase in adoption of out-of-band (OOB) authentication by small and medium-sized businesses is expected to provide numerous opportunities for out-of-band (OOB) authentication market globally during forecast period.