Behavioral Biometrics Industry Analysis: A Comprehensive Market Report 2025

According to a recent report published by Allied Market Research, the global behavioral biometrics market was valued at $720.50 million in 2017, and is projected to reach $3,922.42 million by 2025, registering a CAGR of 23.71% from 2018 to 2025. In 2017, the voice recognition segment accounted for the highest revenue in the market.

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A behavioral biometrics system involves analyzing the cognitive patterns of users, emphasizing various behavioral characteristics in performing specific actions. These systems employ different authentication methods, including keystroke dynamics, gait analysis, and signature analysis. By reducing reliance on traditional passwords and other authentication forms, they mitigate the risk of a single point of failure. The adoption of this technology is on the rise, driven by enterprise customers seeking an additional security layer to safeguard their data. The growing IoT landscape, increasing online transactions, and the rise of advanced threats contribute to the heightened demand for enhanced authentication systems, propelling market growth. However, limited funding for digital security poses a challenge to the market's expansion.

Based on industry vertical, the BFSI dominated the global market in 2017, owing to rise in demand for advanced data security solutions among these organizations. Recently, Israel-based bank, Leumi Card announced to replace passwords with passive behavioral authentication for data security. Furthermore, the healthcare segment is expected to grow at the highest CAGR during the forecast period, owing to rise in demand for biometric solutions to meet the unique challenges such as patient identification, patient record maintenance, fake billing, duplicates claims, and others.

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Based on type, the voice recognition segment contributed to two-fifths of the total market revenue in 2017, and is anticipated to retain the lion's share till 2025. Simultaneously, the gait analysis segment would portray the fastest CAGR of 27.5% throughout the forecast period. The market report also assesses the segments of keystroke dynamics and signature analysis.

In 2017, North America dominated the global market, and is expected to maintain this trend during the forecast period. However, Asia-Pacific is expected to witness the highest growth shortly, owing to rise in digital security spending among the government & BFSI sector and increase in smartphones penetration in the emerging economies such as China, Japan, India, and South Korea.

The global behavioral biometrics market is experiencing growth due to an increase in online transactions, the evolution of the Internet of Things (IoT) landscape, and a growing demand for improved security systems. Nevertheless, challenges such as performance issues associated with behavioral biometrics solutions and limitations in cybersecurity budgets are anticipated to have a significant impact on market growth in the forecast period.

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Additionally, the integration of artificial intelligence into behavioral biometrics and the expansion of the cloud-based solutions market are expected to influence the trajectory of the global behavioral biometrics market. While these factors collectively present opportunities for market growth, it is important to note that each factor has its distinct impact on the market dynamics.

Key Benefits for Behavioral Biometrics Market:

• This study includes the analytical depiction of the global behavioral biometrics market trends and future estimations to determine the imminent investment pockets.

• The report presents information related to key drivers, restraints, and opportunities.

• The current market is quantitatively analyzed from 2017 to 2025 to highlight the financial competency of the industry.

• Porter's five forces analysis illustrates the potency of buyers & suppliers in the global behavioral biometrics industry.

The key market players analyzed in the global behavioral biometrics market report include EZMCOM Inc., SecuredTouch Inc., IBM Corporation, NEC Corporation, Nuance Communications, Inc., BehavioSec Inc., BioCatch, NuData Security Inc., Plurilock, and Samsung SDS. These market players have taken recourse to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their stand in the industry.

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