Behavioral Biometrics Market Analysis Report By Component, By Type, By Application, By Deployment, By Enterprise Size, By End-use, By Region And Segment Forecasts From 2020 To 2027

Synopsis

With reference to the report published, the global behavioral biometrics market was prized by USD 0.87 billion in 2019. It is estimated to witness a 24.5% CAGR from 2020 to 2027.

Drivers

The growth in online dealings plus an escalation in deceptive actions is powering the demand for digital verification, throughout the world. Besides, the rising insistence for a multifaceted security method in financial organizations is estimated to impel the expansion of the market for behavioral biometrics. The rising necessity for better security arrangement, together with the progress of the Internet of Things (IoT) background is, moreover, anticipated to push the enlargement of the market.

The growing utilization of smartphones in everyday life, intended for job functions, socialization, as well as amusement is escalating the figure of mobile applications for the prerequisite of these services. The repeated enhancement in the utilization of mobile functions, along with the swap over of information on the network, is producing several secrecy as well as safety concerns.

On the other hand, when it comes to highly developed secrecy and safety threats, conventional verification methods like password and unlock patterns prove to be largely useless. The movement is compelling the reputation of modern methods like constant verification, founded on behavioral biometrics.

Restraints

The secrecy of information is the main concern close to the latest technologies. The compilation plus storage of individual information, by means of these technologies, like a signature, face recognition, and voice recognition, may be considered as an incursion of confidentiality. Additionally, in behavioral biometrics, voice recognition has a need for a first-class soundtrack and it is not easy to authenticate clients, among the backdrop sound. These issues are expected to impede the progress of the market, during the forecast period.

Effect of Covid-19

The eruption of the COVID-19 pandemic is likely to upset the market for behavioral biometrics technology on a number of frontages. The virus has forced numerous companies, working in the market, to momentarily stop the movement of the manufacturing process, to obey the latest government rules.

On the other hand, the pandemic has, globally, enlarged the need for suitable, clean, and safe, verification arrangements. The extremely infectious character of COVID-19 has made every person suspicious for touching keypads, card readers, and additional apparatuses, meant for precise individuality verification. This has augmented the requirement for behavior sourced technologies like gait analysis and voice recognition. It provides a precise way out to recognize individuals, physically and online. It does not add to the increase of the COVID-19 virus as well as additional pathogens.

Enterprise Size Insight

In 2019, the large enterprise sector held more than 70.0% share and ruled the behavioral biometrics market. Large enterprises concentrate on, putting into operation behavioral biometrics, in their commercial applications to increase customer reliability as well as decrease general infrastructure overheads. This development is projected to propel the demand for behavioral biometrics, in the large enterprise section.

Deployment Insight

On the basis of deployment, the behavioral biometrics market has been subdivided into cloud and on-premise. In 2019, the on-premise section held more than 60.0% share and dominated the market. This can be credited to the reality that on-premise behavioral biometrics resolutions are simple to incorporate as well as build up with presented online assistance. Besides, the on-premise deployment offers establishments with an excessive amount of customization and, in addition, invites lesser expenses in case of some extra resources.

Cloud deployment permits the business functions to be effortlessly incorporated with third-party functions and offer safety to online contributions. Now, the businesses are, gradually more, taking on the cloud function, used for the reorganization of their data storage space.

Application Insight

On the basis of application, the behavioral biometrics market is subdivided into fraud detection & prevention, continuous authentication, risk & compliance management, and identity proofing.

In 2019, the identity proofing section held more than 34.0% share and ruled the market. It is estimated to maintain its supremacy during the forecast period also. Identity proofing resolutions present diverse validation alternatives to consumers, on the basis of their privilege stages.

Type Insight

On the basis of the type, the market is subdivided into voice recognition, gait analysis, signature analysis, and keystroke dynamics. In 2019, the voice recognition section retained above 35.0% share and led the market.

The requirement for voice associates like Cortana, Alexa, Siri, and Google Home is increasing and customers are expected to be fascinated in utilizing voice biometrics to open their individual apparatuses. Moreover, voice recognition assists in recognize fraudsters inside the voice channel, because it engages a one-to-one equivalent relating voice samples. These things are estimated to boost the expansion of the voice recognition sector.

Component Insight

Based on the component, the behavioral biometrics market is subdivided into service and software. The service section is extra sub-divided into professional services and managed services. Moreover, the increasing figure of counterfeit tricks is pushing the requirement for behavioral biometrics software.

The software section held more than 70.0% revenue share in 2019 and led the market. The globally rising demand for dependable as well as secure digital dealings, due to the increasing infiltration of smartphones along with the e-commerce business, is causing the augmented implementation of behavioral biometrics software.

End-Use Insight

On the basis of end-use, the market for behavioral biometrics is subdivided into IT & Telecom, healthcare, BFSI, defense & government, e-commerce & retail, plus others. In 2019, the BFSI section held more than 25.0% share and led the market. It is anticipated to keep hold of its domination, during the forecast period also.

The institutions of the BFSI division are making use of behavioral biometrics, to build up advanced recognition result, which is able to battle with fake activities and create additionally the safe business.

The enhanced protection presented by behavioral biometrics resolutions is bringing about their augmented orders, through the financial organizations. The global appearance of online and mobile banking plus the increasing requirement to enhance e-Banking safety is estimated to push the demand for behavioral biometrics in the BFSI subdivision.

Regional Insight

The Asia Pacific is expected to record major enlargement, during the forecast period. The instantaneous payment platforms in addition to the increasing propagation of mobile payment, throughout the province, have amplified scam actions. This is impelling insist for behavioral biometrics. Moreover, the providers of fiscal services, within the region, are concentrating on giving safe verification way out on the basis of behavioral biometrics, to their clients.

In 2019, North America held more than 30.0% revenue share and led the global market. The increasing demand for the safety of the data by means of behavioral biometrics resolution in addition to the existence of important technology provider companies is expected to power the expansion of the market, within North America.

Companies

To make stronger their place in the market, major companies are taking on the approaches like mergers & acquisitions, presentation of fresh products, up-gradation of the product, as well as partnerships. Besides, the companies are seriously spending on R&D actions to reinforce their ability through fresh and budding technologies and to integrate this expertise into their products.

Some of the companies for the behavioral biometrics market are:

    • Zighra
    • Secured Touch Inc
    • Plurilock Security Solutions Inc.
    • MasterCard Incorporated
    • Bio Catch
    • UnifyID
    • Secure Auth Corporation
    • Nuance Communications, Inc.
    • Fair Isaac Corporation
    • BehavioSec Inc.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For this study, Million Insights has segmented the global behavioral biometrics market report based on component, type, application, deployment, enterprise size, end-use, and region:

• Component Outlook (Revenue, USD Million, 2016 - 2027)
    • Software
    • Service
        • Managed Services
        • Professional Services

• Type Outlook (Revenue, USD Million, 2016 - 2027)
    • Keystroke Dynamics
    • Gait Analysis
    • Signature Analysis
    • Voice Recognition

• Application Outlook (Revenue, USD Million, 2016 - 2027)
    • Identity Proofing
    • Continuous Authentication
    • Risk & Compliance Management
    • Fraud Detection & Prevention

• Deployment Outlook (Revenue, USD Million, 2016 - 2027)
    • On-premise
    • Cloud

• Enterprise Size Outlook (Revenue, USD Million, 2016 - 2027)
    • Large Enterprise
    • Small & Medium Enterprise

• End-use Size Outlook (Revenue, USD Million, 2016 - 2027)
    • BFSI
    • Retail & E-commerce
    • Healthcare
    • Government & Defense
    • IT & Telecom
    • Others

• Region Outlook (Revenue, USD Million, 2016 - 2027)
    • North America
        • U.S.
        • Canada
    • Europe
        • Germany
        • U.K.
    • The Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
    • MEA