Report Ocean has released a research study titled “Out-of-band Authentication Market 2023 Forecast to 2032 Analysis by Market Trends.” This study offers precise economic forecasts, global assessments, and country-level insights. It provides a comprehensive view of the competitive market and includes an in-depth supply chain analysis to identify significant industry changes. The study explores the current market status, anticipated future growth, technological advancements, investment opportunities, market economics, and financial data. It thoroughly examines the market and offers insights based on a SWOT analysis of the industry.

The Out-of-band (OOB) Authentication can be defined as a type of two-factor authentication that uses a secondary verification method through a separate communication channel along with the typical ID and password. OOB Authentication is widely utilized by financial institutions and organizations where high security standards are required. The rising growth of online transactions in Post covid era and increasing penetration of smartphones as well as recent collaboration from leading market players are factors that are accelerating the global market demand.

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For instance, according to Statista – during FY 2020, the volume of digital payments in India was estimated at 34 billion transactions and this number is further increased to 71.95 billion transections. In addition, in 2022, globally total transaction value in the Digital Payments segment is estimated at USD 8.49 trillion and the transaction value is projected to show a CAGR of 12.82% between 2022 & 2026 to reach to USD 13.75 trillion by 2026. Furthermore, leading market players are working towards strategic collaborations and partnerships to leverage the growing demand for OOB Authentication solutions. For instance, in January 2022, Australia based EML Payments Ltd (EML) partnered with Zurich based Netcetera, to implement their state-of-the-art Access Control Server (ACS) which includes a Risk Based Authentication (RBA) solution. Netcetera ACS is based on a modular system, and offers an integrated Out of Band (OOB) authentication method. Also, growing number of compliance requirements by Central Banks and rising incidences of online financial frauds are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, security concerns associated to the Out-of-band (OOB) Authentication & high association cost of OOB Authentication impede the growth of the market over the forecast period of 2022-2028.

Major market players included in this report are:

CensorNet

Deepnet Security

CA Technologies (Broadcom Inc.)

Early Warning Services, LLC

Gemalto N.V. (Thales DIS)

SecurEnvoy Ltd.

StrikeForce Technologies, Inc.

NortonLifeLock, Inc. (Symantec Corporation)

TeleSign Corporation

OneSpan (VASCO Data Security International, Inc.)

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MARKET OVERVIEW

The Internet of Everything (IoE) Market refers to the integration of people, processes, data, and things into a connected ecosystem where smart devices, networks, and applications interact and share data to drive efficiency, insights, and innovation. Here’s a deep analysis of the IoE Market:

• Definition: IoE represents the convergence of the Internet of Things (IoT), people, data, and processes to create a connected environment where everything is interconnected, enabling new levels of automation and intelligence.


• Components: The IoE ecosystem comprises a range of components, including smart devices (sensors, actuators, wearables), networks (5G, Wi-Fi, LPWAN), cloud computing, data analytics, and applications.


• Industry Sectors: The IoE Market spans various industry sectors, including healthcare, manufacturing, transportation, smart cities, agriculture, and retail, where it drives innovation, automation, and efficiency.


• Applications: IoE applications are diverse and include smart homes, connected healthcare devices, industrial automation, autonomous vehicles, and smart infrastructure for cities, offering improved services and insights.


• Data Exchange: IoE thrives on data exchange and analysis, leveraging real-time data from interconnected devices to optimize operations, enhance decision-making, and enable predictive maintenance.


• Security Challenges: The massive amount of interconnected devices raises significant security concerns, necessitating robust cybersecurity measures to protect data, privacy, and the integrity of the ecosystem.


• Market Growth: The IoE Market is experiencing rapid growth as more industries recognize the potential benefits of connectivity, automation, and data-driven decision-making.


• Standards and Interoperability: Interoperability and standardization are critical for IoE to ensure seamless communication and compatibility among diverse devices and systems.


• Sustainability: IoE contributes to sustainability efforts by optimizing resource use, reducing waste, and enhancing energy efficiency, which is particularly important in smart cities and environmental monitoring.


• Future Trends: Future trends in the IoE Market include the continued expansion of 5G networks, edge computing for faster data processing, increased use of AI and machine learning for data analysis, and the growth of smart infrastructure and IoT in developing regions.

The detailed segments and sub-segment of the market are explained below:

By Component

Solution

Services

By Deployment Type

On Premise

Cloud

By Enterprise Size

Large Enterprises

Small and Medium Sized Enterprises

By End Use Industry

BFSI

IT and Telecom

Government and Defense

Retail, Healthcare

Media and Entertainment

Others

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By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

Table of Contents:

1. Executive Summary


2. Introduction


3. Methodology


4. Market Overview


5. Market Analysis
   
   
   
   1. Market Size and Forecast
   
   
   2. Market Trends
   
   
   3. Market Dynamics
   
   
   4. Market Segmentation
   
   
   
   


6. Competitive Landscape
   
   
   
   1. Competitive Scenario
   
   
   2. Key Players
   
   
   
   


7. Regional Analysis
   
   
   
   1. Regional Market Overview
   
   
   2. Market Size and Forecast by Region
   
   
   
   


8. Product/Service Analysis
   
   
   
   1. Product/Service Overview
   
   
   2. Market Size and Forecast by Product/Service
   
   
   
   


9. End-User Analysis
   
   
   
   1. End-User Overview
   
   
   2. Market Size and Forecast by End-User
   
   
   
   


10. Industry Structure


11. Key Findings and Recommendations


12. Conclusion

Market Research Objective:

To assess market size and growth potential:

• The objective is to determine the current market size, estimate its growth rate, and identify potential opportunities for market expansion.

To understand customer preferences and behavior:

• The objective is to gain insights into customer needs, preferences, buying behaviors, and decision-making processes to develop effective marketing strategies and product offerings.

To evaluate market competition:

• The objective is to assess the competitive landscape, identify key competitors, analyze their market share, strengths, weaknesses, and strategies to formulate a competitive positioning.

To explore new market segments:

• The objective is to identify and understand untapped or emerging market segments, assess their potential demand, and evaluate the feasibility of targeting these segments.

To assess brand perception and awareness:

• The objective is to measure brand awareness, perception, and loyalty among customers and target audiences to gauge the effectiveness of branding and marketing efforts.

To evaluate product or service satisfaction:

• The objective is to gather feedback from customers regarding their satisfaction levels with a specific product or service, identify areas for improvement, and enhance customer experience.

To analyze market trends and industry dynamics:

• The objective is to identify and analyze market trends, technological advancements, regulatory changes, and other factors influencing the industry’s dynamics to inform strategic decision-making.

To explore market entry opportunities:

• The objective is to identify potential markets for expansion, assess their attractiveness, understand entry barriers, and evaluate the feasibility of entering new markets.

To conduct market segmentation and targeting:

• The objective is to segment the market based on demographics, psychographics, or other relevant factors and develop targeted marketing strategies for each segment.

To assess pricing strategies:

• The objective is to evaluate pricing strategies in the market, analyze price sensitivity among customers, and identify optimal pricing levels for products or services.

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