The market for Behavioral Biometrics is expected to grow at a CAGR of around 24.1% from 2020 to 2027 and expected to reach the market value of around US$ 4,093.2 Mn by 2027.
Behavioral biometrics is the study associated with the measure of uniquely identifying and measurable patterns in human activities. It’s an evolving technology that authenticates users based on patterns in their behavior. Basically, it identifies unique, individual regularities in the ways that people type and move. Behavioral biometrics technologies authenticate continuously, evaluating a user’s ongoing interaction with their mobile device or computer in real-time, unlike traditional authentication methods, which authenticate only when access is initiated. Behavioral biometric tools run on the actual mobile devices and computer systems connected to an organization’s data and a behavioral profile is automatically generated for each user with valid access. The generated behavioral profile reflects the distinct ways in which he/she interacts with critical systems like gestures including keystrokes, screen swipes, and mouse movements. Once a user’s profile is learned, their respective gestures are monitored silently, in real-time, in order to continuously authenticate identity. If the situation occurs, where behavioral patterns don’t match the profile, the system immediately prompts for other Deployment Models of authentication, block access, or lock down the entire device.
The rising online transactions and fraudulent activities across the globe in almost every industrial sector including BFSI, retail and e-commerce, healthcare, government and defense, and telecommunications among others are supporting the demand for behavioral biometrics. The increasing need for a multi-layered security approach in the finance vertical because the risk of data breaches is higher in the financial sector is further bolstering market growth. Additionally, enhanced security as compared to static biometrics and higher compatibility with emerging AI technologies are the factors projected to provide potential opportunities throughout the forecast period from 2020 to 2027.
On the other side, low cybersecurity budget and high installation cost associated with the behavioral biometrics software are projected to hinder the growth to an extent.
North America accounted for the maximum revenue share in the global market
In 2019, North America has the potential revenues share (%) in the behavioral biometrics market and the region is projected estimated to exhibit consistent growth over the forecast period from 2020 to 2027. The technologically advanced industrial infrastructure of the region is supporting the regional market value. The ongoing investment in the research and development by the major players in order to provide more efficient solutions to their customers along with greater security is boosting the market growth. Furthermore, the Asia Pacific region is projected to exhibit the fastest growth throughout the forecast timeframe from 2020 to 2027. The developing economies of the region along with their developing industrial infrastructure are projected to exhibit the fastest growth in the near future. In 2019, the United States has announced the investment of US$ 15 billion for cybersecurity, an increase of 4.1 % i.e. US$ 583.4 million over 2018.
Key Market Players
The players profiled in the report include BehavioSec Inc (Sweden), BioCatch Ltd (Israel), FST Biometrics Corporation (Israel), Mastercard Technologies Canada ULC (NuData Security), Nuance Communications Inc. (US), Plurilock Security Solutions Inc (Canada), SecureAuth Corporation (US), SecuredTouch Inc.(US), UnifyID Inc. (US), Zighra Inc (Canada), and others.
Focus Group for Behavioral Biometrics Market
Manufacturers and Suppliers of Biometric Component and Equipment
Professional service providers
Managed service providers
Installation, monitoring, and controlling companies
Technology standards organizations, alliances, forums, and associations related to the market
Legal agencies, Government organizations
Artificial Intelligence (AI) solution providers
User data analytics software providers
Market By Application
Identity and access management
Fraud detection and prevention management
Risk and compliance management
Market By Component
Market By Deployment Model
Market By End-User
Retail and eCommerce
Government and Defense
Others (Education, Real Estate, and Travel)
Market By Geography
Middle East & Africa
The market for behavioral biometrics is expected to reach a market value of around US$ 4,093.2 Mn by 2027.
The behavioral biometrics market is expected to grow at a CAGR of around 24.1% from 2020 to 2027.
The rising online transactions and fraudulent activities across the globe, increasing need for a multi-layered security approach in the finance vertical because the risk of data breaches is higher in the financial sector, and emerging AI technologies are some of the primary factors bolstering the market growth.
BehavioSec Inc (Sweden), BioCatch Ltd (Israel), FST Biometrics Corporation (Israel), Mastercard Technologies Canada ULC (NuData Security), Nuance Communications Inc. (US), Plurilock Security Solutions Inc (Canada), SecureAuth Corporation (US), SecuredTouch Inc. (US), UnifyID Inc. (US), Zighra Inc (Canada), and others are the prominent players in the behavioral biometrics market.
North America held the highest market share in the behavioral biometrics market
Asia Pacific is expected to be the fastest growing market over the forecast period.
The report provides insights on global behavioral biometrics market segment by application, component, deployment model, end user and major geographic regions.