Global Behavioral Biometrics Market to Garner $3.92 Billion by 2025 at 23.7% CAGR – Key Players BehavioSec Inc., BioCatch, EZMCOM Inc., IBM Corporation, NEC Corporation, Nuance Communications, Inc., NuData Security Inc
Rise in number of digital transactions, growth in applications of biometric technology in the commercial & government sector, and rapid development of IoT landscape have boosted the growth of the global behavioral biometric market. However, high investment and maintenance costs hamper the market growth. On the contrary, increased market of cloud-based behavioral biometric and emerging application of behavioral biometric in the smartphone market are expected to create lucrative opportunities in the near future.
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The global behavioral biometrics market is segmented on the basis of component, type, deployment model, application, organization size, industry vertical, and geography. Based on component, the market is divided into software and services. The software segment held lion’s share in 2017, contributing nearly three-fourths of the total market. However, the services segment is expected to manifest the fastest CAGR of 26.5% during the forecast period.
On the basis of type, the market is bifurcated into signature analysis, keystroke dynamics, voice recognition, gait analysis, and others. The gait analysis is estimated to register the fastest CAGR of 27.5% through 2025. However, the voice recognition segment held the largest share in 2017, accounting for nearly two-fifths of the market.
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Based on deployment model, the market is categorized into cloud-based and on-premise. The cloud-based segment is estimated to register the fastest CAGR of 27.6% during the forecast period. However, the on-premise segment held the largest share in 2017, contributing around three-fifths of the market.
On the basis on industry vertical, the market is segmented into BFSI, retail and e-commerce, healthcare, government and defense, IT and telecom, and others. The BFSI segment dominated the market in 2017, accounting for more than one-fifth of the market. However, the healthcare segment is estimated to register the fastest CAGR of 25.5% during the forecast period.
Based on application, the market is divided into identity proofing, continuous authentication, risk & compliance management, fraud detection and prevention, and others. The identity proofing segment held the largest share in 2017, contributing more than one-third of the market. However, the fraud detection & prevention segment is estimated to register the fastest CAGR of 25.2% during the study period.
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The market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2017, contributing nearly two-fifths of the total market. However, the market across the Asia-Pacific region is estimated to manifest the fastest CAGR of 26.5% during the forecast period.
The global behavioral biometrics market report includes analysis of the major market players such as BioCatch, BehavioSec Inc., IBM Corporation, EZMCOM Inc., Nuance Communications, Inc., NEC Corporation, Plurilock, NuData Security Inc., SecuredTouch Inc., and Samsung SDS.
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