According to Future Market Insights (FMI), the global behavioral biometrics market is expected to grow at a CAGR of 23.6 percent over the next ten years, reaching a worth of roughly US$ 1.1 billion in 2020. Behavioral biometrics is a new technology that authenticates people by looking at their behavioral patterns. Gait analysis, keystroke dynamics, voice ID, signature analysis, mouse use characteristics, and cognitive biometrics are examples of behavioral biometric verification approaches.
Behavioral biometrics can be used to digitally identify someone to enable them access to systems, devices, or data. It is utilized in the application flow and throughout online sessions to detect criminal conduct and stolen/fake identities. By recognizing abnormal behavior, continuous identity verification and validation help to avoid account takeovers.
The Most Important Findings from the Behavioral Biometrics Market Research
- Because of the increased demand for online transactions, identity verification, and validation applications will account for more than 32% of the market.
- Behavioral biometrics software will have a greater acceptance rate, with 59.8% of the market, thanks to industry end customers’ increased security system requirements.
- On the back of expanding business requirements, India and Indonesia are leaders in the South Asia & Pacific market, with CAGRs of over 38 percent and 34 percent, respectively, through 2031.
- Because of the presence of a mature corporate sector, the market in the United States is expected to grow at a CAGR of 17.0 percent through 2031.
- Intelligent Transportation System (ITS) technology has a wide range of applications.
Competitive Landscape of the Behavioral Biometrics Market
- BioCatch Ltd.
- Nuance Communications Inc.
- NuData Security (MasterCard)
- SecuredTouch Ltd.(Ping Identity)
- UnifyID (Prove)
- Fair Issac Corporation
- BehavioSec Inc.