Behavioral Biometrics Market to Soar to $13.63 Billion by 2033, Growing at 18.5% CAGR

In 2023, the behavioral biometrics market is expected to be valued US$ 2.50 billion globally. The most recent Fact.MR research projects that by the end of 2033, global revenue from behavioral biometrics will have grown at a CAGR of 18.5% and would have reached US$ 13.63 billion.

The subject area known as "behavioral biometrics" is devoted to evaluating and quantifying human behavior as a means of identification. To identify and verify people, it uses a variety of biometric traits such mouse motions, keyboard patterns, gait analysis, signature dynamics, and voice recognition. Behavioral biometrics use patterns and tendencies in human activities to establish identification, as opposed to traditional biometrics that depend on physical attributes, such as fingerprints or face recognition.

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Behavioural biometric services are based on the core tenet that people display unique patterns and characteristics in their activities, even during routine tasks. Specialized sensors or software programs can be used to measure and record these patterns. These patterns may be analyzed to develop distinct biometric profiles that enable precise person identification and verification.

Keystroke dynamics is one of the most widely utilized types of behavioural biometrics. Every individual has a distinct typing pattern that may be recorded by timing the length of keystrokes, the spacing between them, and even the order in which they are pushed. Each person's typing profile is then created by analyzing these patterns.

Key Companies Profiled

• 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.

Passwords and PINs, which are traditional types of authentication, are susceptible to theft or compromise. By examining distinct behavioral patterns that are hard to mimic or fabricate, behavioural biometrics software adds an extra degree of protection. By using this technology, the danger of fraud, identity theft, and illegal access is reduced. This is especially crucial in situations when users must verify themselves at every stage of the interaction, such when accessing sensitive data or doing online banking. When it comes to security, continuous authentication is superior than one-time authentication techniques.

A number of benefits are offered by behavioural biometrics software, such as improved user experience, flexibility, quick and affordable implementation, increased security, and regulatory compliance.

Due to the growing number of people who own both mobile phones and bank accounts, mobile banking is becoming more and more popular, making it a popular target for fraudsters. The market for behavioral biometrics has grown dramatically as a result of this aspect. The need for improvements in artificial intelligence (AL) and machine learning (ML) to boost digital security has also sped up the use of behavioral biometrics.

The capacity of behavioral biometrics technology to balance security and user experience is one of its main advantages. The proliferation of behavioral biometrics in industries like eHealth and well-being is being driven by this special capacity. Leading service providers are making significant investments in behavioural biometrics due to its ongoing evolution and most recent breakthroughs.

AI's Impact on Behavioural Biometrics: Delivering Instantaneous Knowledge

One major factor propelling the market expansion for behavioral biometrics is the integration of cloud computing, IoT, and artificial intelligence (AI). AI-powered behavioral biometrics reduce the likelihood of human interpretation by recording basic event signals like stride length or typing speed. This innovation adds to the market's momentum and produces results in real time. The rise of AI in behavioral biometrics is mostly due to the growing need for behavior-based technology.

Concerns regarding security and privacy during digital interactions have arisen as a result of the growing number of Internet users. Modern security methods like speech recognition in behavioral biometrics are in high demand as a way to address these issues and protect sensitive data from cyber breaches.

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Competitive Landscape

Secure authentication is made possible by the use of behavioral biometrics in a variety of settings, including financial institutions, government buildings, retail Point-of-Sale (POS) systems, and enterprises. Along with a variety of verification techniques, it delivers keyboard dynamics, mouse use characteristics, voice recognition, gait analysis, signature analysis, and cognitive biometrics.

Leading providers of behavioral biometric software and services often place a higher priority on R&D projects in order to increase their margins and market dominance.

• Leading international business BioCatch, which specializes in cutting-edge fraud prevention technology and behavioral biometric intelligence, opened its Australian headquarters on February 8, 2023. With its headquarters located in Singapore and Australia, this move further cemented the corporation's dominant position in the Asia-Pacific market.
• ThreatFabric, an Amsterdam-based company, raised €11.5 million (about US$12.55 million) in May 2023 during its first financing round. With these funding, the business hopes to improve its fraud prevention and behavioral biometrics capabilities.

Key Segments of Behavioural Biometrics Industry Research

By Component :
Behavioural Biometric Software
Behavioural Biometric Services
By Deployment Model :
On-premise
Cloud-based
By Type :
Keystroke Dynamics
Gait Analysis
Signature Analysis
Voice Recognition
By Enterprise Size :
Small & Medium
Large
By Application :
Identity & Access Management
Risk & Compliance Management
Fraud Detection & Prevention Management
Identity Proofing
Continuous Authentication
By Industry Vertical :
BFSI
Retail & e-Commerce
Healthcare
Government & Defense
IT & Telecom
By Region :
North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA

This growth underscores the critical role of behavioral biometrics in enhancing authentication processes and securing sensitive data. As technology evolves and the adoption of digital services accelerates, the demand for sophisticated and user-friendly biometric solutions will continue to rise, ensuring the market's dynamic expansion and offering substantial opportunities for innovation and investment.

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This release was published on openPR.