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    Juniper Research: OTT Channels to Generate $2 Billion Globally by 2029, Threatening Operators’ Market Dominance

    May 20, 2025
    OTT channels like WhatsApp and Viber are leading the pack.

    A new study from Juniper Research has found that revenue from one-time passwords (OTPs) sent via over-the-top (OTT) messaging applications will grow 600% over the next five years, from less than $300 million in 2024. 

    Mobile identity solutions leverage the mobile phone number as a unique identifier for verifying users’ identities in digital solutions. OTPs are unique codes delivered through messaging channels, such as SMS, which a user can leverage to verify their identity.

    While global mobile identity revenue has historically been attributed solely to operators, Juniper Research’s latest study identified OTT channels, such as WhatsApp and Viber, as the most prominent threat to this status quo. Enterprises will be attracted to the channel’s end-to-end encryption, amidst high levels of fraud present across operators’ SMS networks today.

    An extract from the new report, Global Mobile Identity Market 2025-2029, is now available as a free download.

    Identity APIs to Minimise Traffic Migration to OTT Channels

    To combat the growth of mobile identity over OTT messaging channels, operators must provide Application Programming Interface (API) suites that provide increased value to enterprises than OTPs sent via OTT channels. To fully maximise the adoption of mobile identity APIs, Juniper Research has identified the SIM Swap API, which checks for illegitimate SIM swaps, as a service that provides an additional check that OTT channels are unable to provide, increasing the value of APIs to enterprises.

    Research author Georgia Allen commented: “Unlike OTPs, which are susceptible to social engineering attacks, APIs provide robust authentication that is less vulnerable to such exploits. As operators launch these APIs, they must educate enterprises on these benefits, or risk losing authentication traffic to OTT channels.”

    About the Research

    The new research suite offers the most comprehensive assessment of the mobile identity market to date, including market analysis and in-depth forecasts for 61 countries. The dataset contains over 25,900 market statistics within a five-year period. The report includes a Country Readiness Index and a Competitor Leaderboard.

    Source: Juniper Research