Global Behavioral Biometrics Market
December 28, 2018
to a recent report published by Allied Market Research, titled,
"Behavioral biometrics Market by Component, Type, Deployment Mode,
Application, Organization Size, Industry Vertical, and Region: Global
Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global
behavioral biometrics market was valued at $720.50 million in 2017, and
is projected to reach $3,922.42 million by 2025, registering a CAGR of
23.71% from 2018 to 2025. In 2017, the voice recognition segment
accounted for the highest revenue in the market.
Vishwa Gaul, Research Analyst, ICT at
Allied Market Research said, "Asia-Pacific augmented and virtual reality
market is expected to grow at a highest CAGR in the near future, due to
increase in popularity of immersive technologies, rise in number of
start-ups dealing in this market, and promising opportunities in
healthcare & manufacturing sectors."
Behavioral biometrics system refers to the cognitive footprint of the
user, which focuses on different behavioral characteristics of the user
as how they performs a specific action. These solutions consist of
various types of solutions depending on their authentication methods
such as keystroke dynamics, gait analysis, signature analysis, and
others. This technology decreases the dependency on passwords and other
forms of authentication, and prevents single point of failure. It is
becoming mainstream, as enterprise customers have been constantly
focusing on adding an additional layer of security on top of existing
authentication methods to secure their data. Development of IoT
landscape, rise in number of online transactions, and surge in number of
advanced threats have led to increased need for enhanced authentication
systems, thereby driving the market growth. However, low digital
security funding restrains the growth of the market.
Based on industry vertical, the BFSI dominated the global market in
2017, owing to rise in demand for advanced data security solutions among
these organizations. Recently, Israel-based bank, Leumi Card announced
to replace passwords with passive behavioral authentication for data
security. Furthermore, the healthcare segment is expected to grow at the
highest CAGR during the forecast period, owing to rise in demand for
biometric solutions to meet the unique challenges such as patient
identification, patient record maintenance, fake billing, duplicates
claims, and others.
In 2017, North America dominated the global market, and is expected to
maintain this trend during the forecast period. However, Asia-Pacific is
expected to witness the highest growth in the near future, owing to rise
in digital security spending among the government & BFSI sector and
increase in smartphones penetration in the emerging economies such as
China, Japan, India, and South Korea.
Key Findings of the Behavioral biometrics Market:
industry vertical, the BFSI segment is expected to dominate the global
behavioral biometrics during the forecast period.
•In 2017, North America accounted
for the highest revenue among the other regions.
•Based on deployment mode, the
on-premise behavioral biometrics solutions segment generated the highest
revenue in 2017.
•By region, Asia-Pacific is
anticipated to exhibit substantial growth during the forecast period.
Some of the key market players profiled in the report include BehavioSec
Inc., BioCatch, EZMCOM Inc., IBM Corporation, NEC Corporation, Nuance
Communications, Inc., NuData Security Inc., Plurilock, Samsung SDS,
SecuredTouch Inc., and others.