Behavioural Biometrics Market Is Predicted To Surge At A CAGR Of 18.5% By 2033, Fact.MR

In 2023, the global behavioral biometrics market is valued at US$ 2.50 billion. According to the latest analysis by Fact.MR, this market is projected to experience rapid growth, with revenue expected to soar to US$ 13.63 billion by 2033, reflecting a robust compound annual growth rate (CAGR) of 18.5%.
Behavioral biometrics is a specialized field focused on analyzing and assessing human behavior as a means of identification. This approach leverages various biometric traits, including keystroke patterns, mouse movements, gait analysis, signature dynamics, and voice recognition, to uniquely authenticate individuals.
Unlike traditional biometric methods such as fingerprints or facial recognition, which rely on physical characteristics, behavioral biometrics identifies individuals based on patterns and habits in their actions.

For More Insights into the Market, Request a Sample of this Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=6960

Behavioral biometric solutions are grounded in the understanding that individuals exhibit unique patterns and traits in their behaviors, even during routine activities. These patterns can be captured and quantified using specialized sensors or software, which scrutinize the data to establish unique biometric profiles. This enables precise identification and authentication of individuals.

Keystroke dynamics are one of the most widely used forms of behavioral biometrics. Each person has a unique typing rhythm, which can be analyzed by examining the time intervals between keystrokes, the duration of key presses, and the sequence of keys pressed. These patterns are then used to construct a typing profile for each individual. Similarly, mouse movement dynamics analyze how individuals navigate and interact with a mouse or trackpad, capturing characteristics such as speed, acceleration, and movement patterns.

Prominent Players in The Global Market
• BioCatch Ltd.
• Nuance Communications Inc.
• MasterCard Incorporated
• ThreatMark s.r.o.
• Plurilock Security Solutions Inc.
• ZIGHRA INC.
• Secured Touch
• GetSmart Solutions Ltd.
• Akiyama
• NuData Security
• G2 Data Technologies
• Nexgen Technologies
• Net Com SAS
• UnifyID
• SecureAuth Corporation
• Fair Issac Corporation
• BehavioSec Inc.

Behavioural Biometrics Enabling Detection of Suspicious Patterns
The rise of cybercriminals targeting personal data such as email addresses, physical addresses, phone numbers, and birthdates to carry out fraudulent activities has become a pressing issue.

In recent years, the number of cyberattacks has seen a significant increase, with 82,000 cases reported in 2016 and 160,000 cases in 2017 worldwide, according to research by Plurilock Security. To combat these challenges, behavioural biometric technologies have emerged as a solution employing machine learning to analyze patterns and detect suspicious activities.

The urgency to prevent cyberattacks has driven the rapid adoption of behavioural biometric systems.

The proliferation of mobile banking, driven by the increasing number of users with bank accounts and mobile phones, has become a prime target for fraudsters. This factor has significantly contributed to the growth of the global behavioural biometrics market.

Furthermore, the demand for advancements in machine learning (ML) and artificial intelligence (AI) to strengthen digital security has further accelerated the adoption of behavioural biometrics.

Competitive Landscape
Behavioral biometrics enable secure authentication across various sectors, including businesses, government facilities, financial institutions, and retail Point-of-Sale (POS) systems. They offer diverse verification methods such as keystroke dynamics, mouse usage characteristics, signature analysis, gait analysis, voice identification, and cognitive biometrics.
Leading vendors in the behavioral biometric software and services industry consistently focus on research and development to boost profitability and market share.

On February 8, 2023, BioCatch, a global leader in behavioral biometric intelligence and innovative fraud prevention, established its Australian headquarters, strengthening its market leadership in the Asia-Pacific region with bases in both Australia and Singapore. In May 2023, Amsterdam-based ThreatFabric successfully raised €11.5 million (approximately US$ 12.55 million) in an initial fundraising round.
The company plans to use these funds to enhance its capabilities in behavioral biometrics and fraud prevention.

Key Segments of Behavioural Biometrics Industry Research
• By Component :
o Behavioural Biometric Software
o Behavioural Biometric Services

• By Deployment Model :
o On-premise
o Cloud-based

• By Type :
o Keystroke Dynamics
o Gait Analysis
o Signature Analysis
o Voice Recognition

• By Enterprise Size :
o Small & Medium
o Large

• By Application :
o Identity & Access Management
o Risk & Compliance Management
o Fraud Detection & Prevention Management
o Identity Proofing
o Continuous Authentication

• By Industry Vertical :
o BFSI
o Retail & e-Commerce
o Healthcare
o Government & Defense
o IT & Telecom

• By Region :
o North America
o Latin America
o Europe
o East Asia
o South Asia & Oceania
o MEA

Read More: https://www.factmr.com/report/behavioural-biometrics-market

Contact:
US Sales Office :
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E-Mail: sales@factmr.com

About Fact.MR:
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client's satisfaction.

This release was published on openPR.