Global Out-of-Band (OOB) Authentication Market to Reach US$ 3.5 Billion by 2028, Accelerated by Increasing Number of Security Breaches and Cyber Threats

June 29, 2023

As per the latest report by IMARC Group, titled "Out-of-Band (OOB) Authentication: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global out-of-band (OOB) authentication market size reached US$ 1.01 Billion in 2022. Out-of-band (OOB) authentication is a method that verifies a user's identity through an alternative channel separate from the primary communication channel, providing an extra layer of security. This authentication technique utilizes two separate channels, typically a mobile device or email, to validate the user's identity. OOB authentication offers numerous benefits, as it significantly reduces the risk of unauthorized access and identity theft as it requires an additional verification step. It is a highly user-friendly method that helps mitigate the risk of unauthorized access or fraudulent activities. It also eliminates the need for users to remember complex passwords or carry physical tokens, as they can receive the authentication codes on their mobile devices or email accounts. Furthermore, the authentication can be implemented across various platforms and devices, making it a versatile solution for organizations operating in multi-device environments. Currently, the different types of out-of-band authentication include SMS-based authentication and voice-based authentication.

Global Out-of-Band (OOB) Authentication Market Trends:

The global out-of-band (OOB) authentication market is primarily boosted by a multitude of factors, including the increasing number of security breaches and cyber threats. This is further accelerated by the surging product application across industries to protect sensitive data and prevent unauthorized access. OOB authentication provides an additional layer of security by leveraging separate communication channels, such as SMS, email, or phone calls, to verify user identity, reducing the risk of fraudulent activities. Moreover, the rapid growth of digital transformation initiatives and the escalating adoption of mobile and cloud-based technologies are driving the market growth. Furthermore, the stringent government regulations and the surging adoption of online banking, e-commerce, and digital payment platforms are fueling the market growth. Besides this, the growing awareness of the limitations of traditional password-based authentication methods and the rapid adoption of bring-your-own-device (BYOD) policies are propelling the market growth. Furthermore, the rising need for secure access to corporate networks and sensitive data and the burgeoning adoption of the Internet of Things (IoT) devices are augmenting the market growth. Other drivers include the escalating need for multi-factor authentication solutions, the integration of biometric authentication with OOB methods, the demand for strong customer authentication in the banking and financial sector, the need for secure access to critical infrastructure and systems, and the advancements in OOB authentication technologies, are influencing the market growth. Looking forward, the market value is projected to reach US$ 3.5 Billion by 2028, expanding at a CAGR of 22.55% during 2023-2028.

Market Summary: 

  • By the component, the market is segregated into solution (hardware and software) and services. According to the report, solution (hardware and software) represented the largest segment.
  • Based on the authentication channel, the market is divided into SMS, email, push notification, voice, token-based, and others. According to the report, SMS represented the largest segment.
  • By the deployment mode, the market is bifurcated into on-premises and cloud-based.  According to the report, cloud-based represented the largest segment.
  • Based on the enterprise size, the market is segmented into large enterprises, small and medium-sized enterprises. According to the report, large enterprises represented the largest segment.
  • By the industry vertical, the market is segmented into BFSI, IT and telecom, government and defense, retail, healthcare, media and entertainment, and others.  According to the report, BFSI represented the largest segment.
  • On the basis of the region, the market has been categorized into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. According to the report, North America was the largest market for out-of-band (OOB) authentication.
  • The competitive landscape of the industry has also been examined with some of the key players being Deepnet Security, Early Warning Services LLC, i-Sprint Innovations Pte Ltd, OneSpan, Ping Identity Corporation, RSA Security LLC, SAASPASS, SecurEnvoy (Shearwater Group plc), SolidPass, StrikeForce Technologies Inc., Thales Group, etc.

Report Scope:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Components Covered
  • Solution: Hardware, Software
  • Services
Authentication Channels Covered SMS, Email, Push Notification, Voice, Token-based, Others
Deployment Modes Covered On-premises, Cloud-based
Enterprise Sizes Covered Large Enterprises, Small and Medium-sized Enterprises
Industry Verticals Covered BFSI, IT and Telecom, Government and Defense, Retail, Healthcare, Media and Entertainment, Others
Regions Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Deepnet Security, Early Warning Services LLC, i-Sprint Innovations Pte Ltd, OneSpan, Ping Identity Corporation, RSA Security LLC, SAASPASS, SecurEnvoy (Shearwater Group plc), SolidPass, StrikeForce Technologies Inc., Thales Group, etc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

134 N 4th St.
Brooklyn, NY 11249, USA
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Global Out-of-Band (OOB) Authentication Market to Reach US$ 3.5 Billion by 2028, Accelerated by Increasing Number of Security Breaches and Cyber Threats
Purchase options Year End sale

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us

Phone: +1-631-791-1145


Phone: +91-120-433-0800


Phone: +44-753-713-2163


Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More