As per the published report, the global behavioral biometrics market size is estimated to arrive at USD 4.62 billion by 2027. It is projected to develop by 24.5% CAGR from 2020 to 2027.
Due to the growing frequency of cyber attacks, along with the rising demand to defend client’s information and provide them a simplified experience, organizations are seeking sophisticated safety measures.
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Since behavioral biometric solutions are not as much of susceptible to hacking and verification frauds, their market requirement is anticipated to intensify, through end-user businesses.
The globally augmentation of deceptive actions, in a significant figure, is additionally estimated to impel the demand for behavioral biometrics resolutions in the market, during the forecast period.
The rising infiltration of e-commerce and smart phones, together with globally escalating frauds in online payment, is pushing the retailers to provide behavioral biometrics resolutions to defend the customers from online payment frauds.
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Further key findings from the report suggest:
• North America is projected to maintain its domination on the global behavioral biometrics market, for the subsequent eight years. This can be credited to the increasing utilize of sophisticated technologies like block chain, Artificial Intelligence (AI), and Machine Learning (ML), in behavioral biometrics resolutions to provide better safety to the clients
• The small & medium enterprises section is expected to record the maximum CAGR during the forecast period, in terms of enterprise size. This can be credited to the globally increasing number of small & medium enterprises, plus the rising demand from these businesses to present safe online services to their clients
• The continuous authentication section is likely to record a significant CAGR, during the forecast period, in terms of the application. The increasing demand for the extra safety levels through end-user businesses plus the growing acceptance of multimodal biometrics solutions, is powering demand for the section
• On the basis of component, the service sector is expected to record the highest enlargement, during the forecast period. This can be accredited to the increasing reliance of businesses on IT possessions, to enhance their efficiency
• The healthcare section is estimated to record the highest expansion, during the forecast period, in terms of the end-use. In the healthcare industry, behavioral biometrics permits clients to securely store up and access medicinal proceedings
• In terms of deployment, the cloud sector is projected to record the maximum 25.1% CAGR, during the forecast period. The sector is likely to advantage from the reality that it permits enterprises to store up behavioral information and match it up with stocked behavioral facts, to get better exactness and reduce safety problems
• The keystroke dynamics section is expected to record the maximum CAGR during the forecast period, in terms of the type. The increasing quantity of online dealings and the rising number of related frauds are estimated to impel the demand for keystroke dynamics resolutions
Million Insights segmented the global behavioral biometrics market based on End Use, Enterprise Size, Deployment, Application, Type, Component, and Region.
Behavioral Biometrics Component Outlook (Revenue, USD Million, 2016 – 2027)
• Managed Services
• Professional Services
Behavioral Biometrics Type Outlook (Revenue, USD Million, 2016 – 2027)
• Keystroke Dynamics
• Gait Analysis
• Signature Analysis
• Voice Recognition
Behavioral Biometrics Application Outlook (Revenue, USD Million, 2016 – 2027)
• Identity Proofing
• Continuous Authentication
• Risk & Compliance Management
• Fraud Detection & Prevention
Behavioral Biometrics Deployment Outlook (Revenue, USD Million, 2016 – 2027)
Behavioral Biometrics Enterprise Size Outlook (Revenue, USD Million, 2016 – 2027)
• Large Enterprises
• Small & Medium Enterprises
Behavioral Biometrics End-use Outlook (Revenue, USD Million, 2016 – 2027)
• Retail & E-commerce
• Government & Defense
• IT & Telecom
Behavioral Biometrics Region Outlook (Revenue, USD Million, 2016 – 2027)
• North America
• Asia Pacific
• Latin America
Various companies for behavioral biometrics market are:
• Secured Touch Inc
• Plurilock Security Solutions Inc.
• MasterCard Incorporated
• Bio Catch
• Secure Auth Corporation
• Nuance Communications, Inc.
• Fair Isaac Corporation
• BehavioSec Inc.
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