Behavioral Biometrics Market - Global Industry Analysis

Global Behavioral Biometrics Market: Overview

Today in the world of technology, a large amount of personal data is shared online. The use of the password is a standard protection method but to support better combat identity fraud, several new solutions such as multi-factor authentication solutions are continuously in development and behavioral biometric is one such popular solution. Behavioral biometric is the study related to the measure of uniquely identifying the measurable patterns in human activities and based on creating a unique profile for each customer, it provides an innovative approach for user identification.

Report Scope:

Global Behavioral Biometrics Market: Growth Factors

The global behavioral biometrics market is growing at a rapid rate. Major factors that are fostering the growth of the global market include the rise in the necessity for multilayered security, the frequency of cyber-attacks growing at a rapid rate, and the rise in demand for behavioral biometric for fraud detection & prevention. Additionally, the use of behavioral biometrics offers numerous advantages. It is entirely frictionless and doesn’t interrupt, slow, or interfere with the user experience. Also, the identification is precise & accurate and users cannot practicably be impersonated. Behavioral biometrics also offers powerful protection against account takeover, identity threat, and insider threats. In addition to this, the technology of behavioral biometrics provides robust, risk-appropriate anti-fraud and identity authentication measures that are effortless to users and does not require additional security steps or special hardware. Thus, there is an increase in the deployment of behavioral biometrics owing to its greater demand in online banking, payments, e-commerce, and several other high-security authentication markets which in turn is boosting the growth of the global behavioral biometrics market. Moreover, the increase in the use of cloud technology and the growing adoption of small & medium-size enterprises are also some of the factors that are driving the growth of the global market. Furthermore, the rise in the use of smart sensors in mobile computing devices such as wearable, tablets, or smartphones through which behavioral biometric can capture the data that can authenticate the user can provide lucrative opportunities for the growth of the global behavioral biometrics market over the forecast period. However, concerns regarding transparency and privacy may hinder the growth of the global behavioral biometrics market.

The global behavioral biometrics market is been moderately affected by the Covid-19 pandemic. The nationwide lockdown and constraint on movement have impacted the key industries operating in the global market. However, the rise in e-commerce, online banking & payments, and growing cyber threats has led to the adoption of behavioral biometrics by the banking and financial sectors. As a result, steady growth is witnessed in the growth of the market during the pandemic.

Global Behavioral Biometrics Market: Segmentation

The global behavioral biometrics market is segregated based on component, application, deployment mode, organization size, vertical, and region. Based on the component, the global behavioral biometrics market is split into services and software. The application segment is divided into risk & compliance management, fraud detection & prevention management, and identity & access management.

The organization size segment consists of large enterprises and small & medium-sized enterprises (SMEs). Cloud and on-premises are the deployment mode of the behavioral biometrics market. Based on the vertical, the global market is bifurcated into telecommunications, BFSI, government & defense, healthcare, retail & e-commerce, and other verticals.

Global Behavioral Biometrics Market: Regional Analysis

Geographically, North America is projected to hold a maximum share in the global behavioral biometrics market during the forecast period. The presence of state-of-the-art IT infrastructure and rapid adoption of technology are the key factors that are fueling the growth of the market in this region. In addition to this, the growing rate of cyber-attacks and the growing necessity of risk & compliance management are also some of the factors that are fueling the growth of the market in the North America region. The market in the Asia Pacific is expected to grow rapidly due to growing investment in the development of behavioral biometrics solutions and growing demand from the BFSI & government sector for multilayered security.

 Global Behavioral Biometrics Market: Competitive Players

Some of the key participants that are operating in the global behavioral biometrics market are BioCatch, Zighra, Plurilock, ThreatMark, SecuredTouch, BehavioSec, Mastercard, SecureAuth, Nuance Communications, and IBM.

 Global Behavioral Biometrics Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.