Behavioral Biometrics Market Share, Trends & Size Report 2030

Behavioral Biometrics Market Scope and Growth Factors -

The SNS Insider report indicates that the Behavioral Biometrics Market was valued at USD 2.01 billion in 2022, and it is projected to achieve a market size of USD 11.64 billion by 2030, with a compound annual growth rate (CAGR) of 24.5% expected over the forecast period from 2023 to 2030.

In the banking industry, behavioral biometrics has several advantages. These include protection against account takeover, identification of social engineering, and protection against account opening. The consistency provided by behavioral. In the BFSI industry, biometric solutions will increase their adoption.

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Key Players Covered in Behavioral Biometrics market report are:

BioCatch Ltd., Nuance Communications Inc., NuData Security, SecuredTouch Ltd., UnifyID, Fair Issac Corporation, ThreatMark, Callsign Inc., Adjust GmbH, Mastercard Incorporated, Plurilock Security Solutions Inc., SecureAuth Corporation, Zighra, BEHAVIOSEC INC., EZMCOM Inc., IBM Corporation, NEC Corporation, SAMSUNG SDS and Other Players

The primary applications of behavioral biometrics are the analysis of a user's digital-physical characteristics and cognitive behavior. It is becoming more and more popular as a successful fraud prevention strategy in a variety of industries. Behavioral biometrics verifies individuals based on their actions and interactions online rather than by using a computer to identify fraudulent activity their external attributes.

Segmentation Analysis -

Rising consumer demand for smooth, trouble-free experiences is anticipated to drive the market during the forecast period. The industry leaders are also heavily investing in the current processes for customer experience design and cybersecurity. In order to bridge the gap and improve user experience, behavioral biometric verification techniques are being used more and more. They do this by introducing a secure, data-driven authentication layer converse.

As of 2022, the identity proofing segment held a dominant market share of 33.7%. Depending on their level of privilege, identity-proofing solutions offer users various options for authentication. By creating fail-safe mechanisms, these solutions also assist in the establishment of policies for the authentication of sensitive applications. Identity verification, continuous authentication, risk and compliance management, and fraud detection and prevention are the segments of the application market.

Behavioral Biometrics Market Segmentation as Follows:

By Component
Software
Service

By Type
Voice Recognition
Keystroke Dynamics
Gait Analysis
Signature Analysis
Others

By Deployment
On-premise
Cloud-based

By Application
Risk & Compliance Management
Identity Proofing
Continuous Authentication
Fraud Detection & Prevention

By Organization Size
Large Enterprises
SMEs

By Industry
Retail & E-commerce
Healthcare
BFSI
Government & Defense
IT & Telecom
Others

Segmented by Region/Country:
North America
Europe
China
Japan
Asia Other

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Key Regional Development -

North America will hold the largest share of the global behavioral biometrics market. The primary drivers of the market's expansion in this region are the availability of cutting-edge IT infrastructure and the quick uptake of new technologies. Furthermore, the increasing frequency of cyberattacks and the growing demand for risk and compliance management are some of the other factors driving the market's expansion in the North American region. The Asia Pacific market is anticipated to expand quickly as a result of rising funding for the creation of behavioral biometrics solutions and rising demand for multilayered protection.

Key Takeaway's-

Rising demand for seamless customer experiences devoid of obstacles or complications is expected to propel the market. Additionally, the market leaders are making significant investments in the current cybersecurity and customer experience design processes. Increasingly, behavioral biometric verification techniques are being used to close the gap by introducing a safe data-driven authentication layer that provides a better user experience encounter.

Recent Developments -

- Leading behavioral biometrics company BioCatch introduced behavioral biometric software in October 2023 to guard vulnerable population segments against fraud. The software is a new feature designed to protect older users from fraudulent activity when opening an account.

- On February 8, 2023, BioCatch, the world leader in behavioral biometric intelligence and cutting-edge fraud prevention technologies, opened its Australian headquarters. Additionally, the company expands operations throughout Asia-Pacific, with headquarters in Australia and Singapore, solidifying its global market dominance.

- A May 2023 article states that ThreatFabric, an Amsterdam-based company, received €11.5 million (about US$12.55 million) in a first round of funding in order to advance its behavioral biometrics and fraud prevention tools.

Table of Content - Analysis of Key Points

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter's 5 forces model
7. PEST Analysis
8. Behavioral Biometrics Market Segmentation, By Component
9. Behavioral Biometrics Market Segmentation, By Type
10. Behavioral Biometrics Market Segmentation, By Deployment
11. Behavioral Biometrics Market Segmentation, By Application
12. Behavioral Biometrics Market Segmentation, By Organization Size
13. Behavioral Biometrics Market Segmentation, By Industry
14. Regional Analysis
15. Company Profiles
16. Competitive Landscape
17. Conclusion

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