Global Behavioral Biometrics Market Development, Regional Outlook, Insights And Forecast 2027

Behavioral Biometrics Market: Global Industry Analysis and Forecast (2021-2027), Share, Size

Global Behavioral Biometrics Market size was valued at US$ 1.08 Bn. in 2020 and the total revenue is expected to grow at 24.43 % through 2021 to 2027, reaching nearly US$ 4.99 Bn.

Behavioral Biometrics Market Overview:

The Global Behavioral Biometrics Market Behavioral biometrics is an authentication technique that captures and recognises human behaviour patterns in real time. It collects data using accelerometers and gyroscopes in mobile computing devices such as smartphones, tablets, and wearables. The data is then evaluated using powerful software tools like as artificial intelligence to aid with identity recognition and fraud detection (AI). In the banking, financial services, and insurance (BFSI) industry, behavioural biometrics is currently being used extensively to protect online payment systems. Because of behavioural biometrics, any firm organisation may readily perceive and act on their employees. Its flexibility and ability to adapt to the structure and laws aid businesses and organisations.

Historical Forecast Period:

Maximize Market Research report presents the analysis of each segment from 2021 to 2027 considering 2020 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2020to 2027.

Behavioral Biometrics Market Overview and Dynamics:

The report covers comprehensive data on market drivers, restraints, emerging trends, and growth opportunities that can change the market dynamics of the end use industry. It provides an in-depth analysis of the Behavioral Biometrics Market segments which include products, applications, and competitor analysis.

Businesses are turning to authentication technologies to prevent fraudulent transactions and safeguard customers from cybercrime as the number of data breaches grows around the world. One of the key motivations of the behavioural biometrics sector is that it delivers dependable, ongoing, risk-based identity authentication and anti-fraud measures without the need for any special hardware or other security measures. Furthermore, the market is being propelled forward by the growing demand for high-security business solutions to address the difficulties of safeguarding digital identification for governmental applications.

Behavioral biometrics for these applications can be implemented in a layered method depending on the end user's location and the data's confidentiality. It can also be combined with deep learning to model unique characteristics of individual behaviour and identify them from frauds, making the entire process more user-specific. Aside from that, behavioural biometrics' application in the e-learning sector for test integrity solutions is predicted to rise because to its flexibility, convenience, efficiency, and ability to detect insider threats.

Artificial intelligence (AI) and machine learning (MI), as well as their expanding popularity in authentication and identification applications, may give market players with a significant growth opportunity. In order to create more secure identification, authentication, and verification systems, developers are rapidly combining AI and machine learning into behavioural biometrics. The majority of behavioural biometrics driven by AI are used in financial institutions to prevent account takeover fraud. AI-driven behavioural biometrics are predicted to boost identification and authentication systems as their adoption develops, thanks to advances in AI.

The high cost of installation is one of the key challenges that behavioural biometrics companies encounter around the world. The initial cost of adopting behavioural biometrics has grown considerably as a result of constant technological developments, making these solutions unavailable to end consumers.

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Segmentation:

Identity Proofing, Continuous Authentication, Risk Compliance Management, and Fraud Detection Prevention are the sub-segments of the Behavioral Biometrics market. In 2020, the Identity Proofing sector had the greatest market share of 40%. Identity proofing methods provide different authentication options to users with varied levels of privilege. These technologies can also help with the creation of fail-safe procedures for creating authentication policies for essential applications. The category is expected to grow as organisations become more aware of the need to secure their data from increasingly complicated cyberattacks, malware, identity-related fraud, and data breaches.

On-premise and Cloud are two sub-segments of the Behavioral Biometrics market. In 2020, the On-premise sector had a market share of 65 percent. Internal behavioural biometric solutions are straightforward to link and configure with existing internet offers, which explains this. Furthermore, on-premises implementation provides the organisation with a high level of agility as well as lower costs in the event that additional resources are necessary.

BFSI, Retail E-commerce, Healthcare, Government Defense, IT Telecom, and Others are the sub-segments of the Behavioral Biometrics market. In 2020, the BFSI sector had the greatest market share of 28 percent. As the customer experience improves, preventing clients from becoming victims of fraud and cybercrime has risen to the top of the bank's priority list. As new risks emerge on a daily basis, safeguards must be put in place to protect end users from hacker attacks and fraud without jeopardising the customer experience. With the rise of fintech start-ups and the impending PSD2 (Revised Payment Service Directive) legislation, the industry will become even more competitive; customer experience is becoming an increasingly critical differentiator, necessitating a more sophisticated approach.

Key Players:

• BioCatch
• IBM
• Nuance Communications
• SecureAuth
• Mastercard
• BehavioSec
• ThreatMark
• Plurilock
• One Identity
• FST Biometrics
• UnifyId
• AimBrain
• Zighra
• AuthenWare
• XTN
• Sentegrity
• TypingDNA
• NoPassword
• ID Finance
• Nethone
• Pinn Technologies
• EZMCOM

Regional Analysis:

Regional analysis is another highly comprehensive part of the research and analysis study of the Behavioral Biometrics Market presented in the MMR report. Local development plans are often affected by the performance of Behavioral Biometrics market. Our report briefly explains all the factors, market size, growth rate, import and export in regions covering North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. This research has provided market trends, key opportunities, factors affecting of particular regions, to examine the global and domestic Behavioral Biometrics market and these findings have been strategically presented in the report.

Competition Landscape:

Most of the key players present in the Behavioral Biometrics Market are focusing on mergers and acquisitions to expand their geographic presence and gain a competitive edge. Meanwhile, some of the other players are updating their existing product portfolios and adding innovative screens to keep up with the high consumer demand and generate more sales.

Key questions answered in Behavioral Biometrics Market report

  • What was the market size of Behavioral Biometrics Market in 2020 and forecast up to 2027?
  • Which is the largest regional Behavioral Biometrics Market?
  • What are the major trends followed in Behavioral Biometrics Market across different regions?
  • Who is the key Behavioral Biometrics Market companies leading the market?
  • What are the key strategies adopted by the leading Behavioral Biometrics Market companies in market?
  • Unique data points of this report
  • Statistics on Behavioral Biometrics Market penetration and spending worldwide
  • Recent trends across different regions in terms of adoption of Behavioral Biometrics Market for various end-use.
  • Notable developments going on in Behavioral Biometrics Market
  • Attractive investment proposition for segments as well as geography
  • Comparative scenario for all the segments for years 2020 (actual) and 2027 (forecast)

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