Global Analysis for Behavioral Biometrics Technology Market and Forecasts by Type, Application, Regions, Trends, Growth and Market Size

Behavioral Biometrics Technology Market

The global Behavioral Biometrics Technology Market size was valued at USD 0.87 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 24.5% from 2020 to 2025.

The rise in fraudulent activities and an increase in online transactions are driving the demand for digital authentication across the globe. Furthermore, the growing demand for a multi-layered security approach in financial institutions is expected to drive Behavioral Biometrics Technology Market growth. Expansion of the Internet of Things (IoT) landscape, along with the growing need for enhanced security systems, is also expected to drive the market growth.

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The key players mentioned are BehavioSec Inc., BioCatch, Fair Isaac Corporation, Mastercard Incorporated, Nuance CommunicationsInc., Plurilock Security Solutions Inc., SecureAuth Corporation, SecuredTouch Inc, UnifyID.

By Type, Behavioral Biometrics Technology has been segmented into:

· Keystroke Dynamics

· Gait Analysis

· Signature Analysis

· Voice Recognition

By Application, Behavioral Biometrics Technology has been segmented into:

· BFSI

· Retail & E-commerce

· Healthcare

· Government & Defense

· IT & Telecom

· Others

Regions and Countries Level Analysis:

· North America (U.S., Canada, Mexico)

· Europe (Germany, U.K., France, Italy, Russia, Spain etc.)

· Asia-Pacific (China, India, Japan, Southeast Asia etc.)

· South America (Brazil, Argentina etc.)

· Middle East & Africa (Saudi Arabia, South Africa etc.)

The successive increase in the use of mobile applications and the exchange of data over the web are giving rise to numerous security and privacy concerns. The rising usage of smartphones in daily lives for socializing, entertainment, and work purposes are increasing the number of mobile applications for the provision of these services. However, traditional authentication techniques such as unlock patterns and passwords prove to be largely ineffective when it comes to advanced security and privacy threats. The trend is driving the popularity of advanced techniques such as continuous authentication based on behavioral biometrics.

The notable rise in the number of online services, such as webmail, e-Banks, and e-commerce, which verify users by a username and password, is being increasingly exploited by identity thieves. The presence of an additional security layer proves to be significantly beneficial in overcoming potential identity theft. Verifying users based on their keystroke dynamics and mouse activities provides a greater potential as an additional biometric security layer. These factors are expected to drive the Behavioral Biometrics Technology Market over the forecast period.

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