Behavioral Biometrics Market - Global Industry Analysis by Key Players, Share, Segmentation, Consumption Analysis

Behavioral Biometrics Market

The global behavioral biometrics market is likely to witness growth with a CAGR of 23.9% during the forecast period. Behavioral biometrics is the study of the identification of measurable and unique features of human activities such as their voice, movements, and signature patterns. The simple biometric system will be altered to behavioral biometric authentication system in the coming years. The major objective of behavioral biometrics solutions is to protect individual and organizations’ data from any unauthorized access. This technology is less costly, simple, and easy to implement as compared to other security technologies. Further, behavioral biometrics provides benefits such as security, flexibility, convenience, and efficiency.

The increasing adoption of the Internet of Things by various companies is driving the demand for the behavioral biometrics market in recent years. Further, the increasing use of behavioral biometrics for fraud prevention and detection in financial services, consumer applications, and government applications, is also driving the demand for the behavioral biometrics market. At the same time, the rise in the adoption of cloud computing by organizations is expected to create further opportunities for the market during the forecast period. However, performance issues associated with behavioral biometrics are obstructing the growth of the market in recent years.

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Based on applications, the identity and access management segment dominated the market in 2018 and is expected to show similar trends in coming years. The increasing use of behavioral biometrics to secure the identity access solution is one of the factors that is fueling the demand for the market. Based on deployment, the cloud-based segment will witness the fastest growth during the forecast period. The benefits of cloud-based behavioral biometrics such as cost-effectiveness and time efficiency are some of the factors that will propel the growth of the behavioral biometrics market.

North America dominated the market in 2018 and is expected to show similar trends in coming years. The growing technologically advanced IT infrastructure in the country is expected to drive the market in the region.

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