Asia Pacific Out-of-band (OOB) Authentication Market By Solution Type (Phone-based Out-of-Band, Hardware Out-of-Band), Vertical (BFSI, Payment Card Industry, Government, Healthcare & Lifesciences)
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The Asia Pacific Out-of-band (OOB) Authentication Market would witness market growth of 24.6% CAGR during the forecast period (2017 - 2023). Out-of-band authentication is a two-factor authentication process, which needs a secondary verification process via a different communication channel along with the typical ID and password. The method is widely used in banking and financial institutions and in organizations that require high security.
The use of out-of-band authenticators makes it difficult to hack into an account, as two separate and unconnected authentication channels would have to be hacked to gain access into an account. The continuous growth in the online transactions has led organizations to implement authentication techniques such as hardware OTP tokens, e-mail, and phone-based authentication methods to ensure safety in the online transactions, driving the growth of the market.
Furthermore, the availability of 3G and 4G devices, leading to a rise in online transactions and growing to bring your own device (BYOD) trend in many organization have further added to the growth of out-of-band authentication systems. Based on Solution Type, the market report segments the market into Phone-based and Hardware. Based on Vertical, the market report segments the market into BFSI, Payment Card Industry, Government, Healthcare & Lifesciences, and Others. Based on Countries, the Out-of-band (OOB) Authentication market segments the market into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the competition analysis of key stakeholders of the Asia Pacific Out-of-band (OOB) Authentication Market. Key companies profiled in the report include CA Technologies, Inc., Symantec Corporation, CensorNet Ltd., Deepnet Security, Early Warning Services, LLC, Gemalto NV, Shearwater Group (SecurEnvoy Ltd.), StrikeForce Technologies, Inc., BICS (TeleSign), and VASCO Data Security International, Inc.