According to IMARC Group’s latest report, titled “Behavioral Biometrics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global market grew at a CAGR of around 23% during 2015-2020. Behavioral biometrics refers to a cybersecurity solution that identifies and measures human physical and cognitive-behavioral patterns to verify users in real-time. It prevents fraud and relies on mobile computing devices, including smartphones, tablets, and wearables, to gather data through gyroscopes and accelerometers. Behavioral biometrics utilizes advanced software algorithms, such as artificial intelligence (AI), for identity authentication. It is predominantly adopted in the banking, financial services, and insurance (BFSI) industry for secured online payment services.
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The rising instances of data breaches are compelling various businesses to adopt authentication technology to protect customers against cybercrime, thereby primarily driving the behavioral biometrics market. It offers anti-fraud measures and continuous, risk-based identity authentication, which require no special hardware or additional security steps. Furthermore, behavioral biometrics can be combined with deep learning technology to make the process user-specific by modeling unique features of individual behavior. Additionally, owing to the convenience, flexibility, and efficiency, the applications of behavioral biometrics is expected to increase in the e-commerce sector over the forecasted period. Looking forward, IMARC Group expects the global behavioral biometrics market to continue its robust growth during the forecast period (2021-2026).
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- BehavioSec Inc.
- BioCatch Ltd.
- Fair Isaac Corporation
- International Business Machines Corporation
- Mastercard Incorporated
- Nuance Communications Inc.
- Plurilock Security Inc.
- SecureAuth Corporation
- SecuredTouch Inc.
- ThreatMark s.r.o.
- UnifyID Inc.
- Zighra Inc.
Market Segmentation:
Component:
- Software
- Services
- Managed Services
- Professional Services
Type:
- Keystroke Dynamics
- Gait Analysis
- Signature Analysis
- Voice Recognition
Application:
- Identity Proofing
- Continuous Authentication
- Risk and Compliance Management
- Fraud Detection and Prevention
- Others
Deployment:
- Cloud-based
- On-premises
Enterprise Size:
- Large Enterprise
- Small and Medium Enterprise
End Use Industry:
- BFSI
- Retail and E-commerce
- Government and Defense
- Healthcare
- IT and Telecom
- Others
Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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