According to IMARC Group’s latest report, titled “Behavioral Biometrics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global behavioral biometrics market grew at a CAGR of around 23% during 2015-2020. Behavioral biometrics refers to a cybersecurity solution that identifies and measures human physical and cognitive-behavioral patterns to verify users in real-time. It prevents fraud and relies on mobile computing devices, including smartphones, tablets, and wearables, to gather data through gyroscopes and accelerometers. Behavioral biometrics utilizes advanced software algorithms, such as artificial intelligence (AI), for identity authentication. It is predominantly adopted in the banking, financial services, and insurance (BFSI) industry for secured online payment services.
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The rising instances of data breaches are compelling various businesses to adopt authentication technology to protect customers against cybercrime, thereby primarily driving the behavioral biometrics market. It offers anti-fraud measures and continuous, risk-based identity authentication, which require no special hardware or additional security steps. Furthermore, behavioral biometrics can be combined with deep learning technology to make the process user-specific by modeling unique features of individual behavior. Additionally, owing to the convenience, flexibility, and efficiency, the applications of behavioral biometrics is expected to increase in the e-commerce sector over the forecasted period. Looking forward, IMARC Group expects the global behavioral biometrics market to exhibit strong growth during the next five years.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
BehavioSec Inc.
BioCatch Ltd.
Fair Isaac Corporation
International Business Machines Corporation
Mastercard Incorporated
Nuance Communications Inc.
Plurilock Security Inc.
SecureAuth Corporation
SecuredTouch Inc.
ThreatMark s.r.o.
UnifyID Inc.
Zighra Inc.
Market Segmentation:
Breakup by Component:
Software
Services
Managed Services
Professional Services
Breakup by Type:
Keystroke Dynamics
Gait Analysis
Signature Analysis
Voice Recognition
Breakup by Application:
Identity Proofing
Continuous Authentication
Risk and Compliance Management
Fraud Detection and Prevention
Others
Breakup by Deployment:
Cloud-based
On-premises
Breakup by Enterprise Size:
Large Enterprise
Small and Medium Enterprise
Breakup by End Use Industry:
BFSI
Retail and E-commerce
Government and Defense
Healthcare
IT and Telecom
Others
Breakup by Region:
North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
Market Performance (2015-2020)
Market Outlook (2021-2026)
Market Trends
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape
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