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Behavioral Biometrics market Size & Growth Report
The behavioral biometrics market continued to grow with organizations looking for next-generation fraud prevention solutions.
AUSTIN, TX, UNITED STATES, January 3, 2025 /EINPresswire / -- Market Size &
industry Insights
As Per the SNS Insider,“The Behavioral Biometrics Market was valued at USD 1.66 Billion in 2023 and is expected to grow to USD 14.00 Billion by 2032, at a CAGR of 26.77% over the forecast period of 2024-2032.”
Behavioral Biometrics Market Growth Driven by Advanced Security and Fraud Prevention Demand
The behavioral biometrics market has grown due to the growing demand for advanced security and fraud prevention, as well as enhanced identity verification and user experience across all verticals worldwide. When it comes to cyber threats and online fraud constantly evolving with technology, traditional authentication methods, such as passwords and even the PIN code itself, are becoming less and less effective. Behavioral biometrics provides a more secure method of authentication, without any friction, by evaluating patterns in human activity including keystrokes, mouse movement, or touchscreen interactions.
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SWOT Analysis of Key Players as follows:
- BehavioSec
- BioCatch
- Nuance Communications
- SecureAuth Corporation
- UnifyID
- Plurilock Security Solutions
- Mastercard Incorporated
- Fair Isaac Corporation (FICO)
- NEC Corporation
- Samsung Electronics
- IBM Corporation
- Daon
- Affectiva
- iProov
- TypingDNA
- Veridas
- AimBrain
- Acceptto
- autonomous_ID
- Alluxa Inc
AI and Machine Learning Drive the Growth of Behavioral Biometrics for Enhanced Security
Additionally, the advent of artificial intelligence (AI) and machine learning (ML) technologies will continue to drive behavioral biometrics solutions that are more accurate and dynamically responsive in their analyses. These systems allow for the analysis of extensive datasets in real time, enabling anomaly detection and prevention against cyberattacks with greater effectiveness. The explosion of remote work and digital banking as a result of the pandemic has further accelerated the demand for seamless, always-on user authentication, use cases that fall into the realm of behavioral biometrics.
Voice Recognition and Large Companies Dominate Behavioral Biometrics Market in 2023
By Type: In 2023, the voice recognition segment accounts for the largest market share in the behavioral biometrics market due to an increase in voice assistant adoption (Google Home and Alexa) and a preference for voice unlocking by users. It has also been a leader in fraudster detection in voice channels. Weighing the multiple benefits of the technology, voice recognition is currently leading the pack in the behavioral biometrics space.
By Organization Size: In 2023, large companies accounted for the highest market share due to their endowment of resources, superior R&D competence, and existing trust with consumers. This enabled the firm to provide foolproof, scalable comprehensive solutions, along with investments in the latest technologies which provided an edge, allowing them to occupy a significant share of the emerging behavioral biometrics industry.
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KEY MARKET SEGMENTS:
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 (Banking, Financial Services, and Insurance)
Government & Defense
IT & Telecom
Others
North America Leads Behavioral Biometrics Market Growth Asia Pacific to Witness Fastest Expansion
In 2023, North America held the largest share of the behavioral biometrics market owing to the early adopter status in terms of security technologies increasing incidences of cyber threats in the region, presence of key market players driving the innovation in the region. Demand has been largely driven by the banking, financial services, and insurance (BFSI) sector in the region, which is quite established and where financial institutions tend to focus on fraud prevention through compliance with stringent regulatory prospects. The increasing applications of voice recognition-based biometrics, owing to high user penetration and adoption of smartphones, smart devices, and voice assistants such as Alexa and Google Home, are also positively affecting market expansion by further enhancing the technology's adoption in this region.
The Asia Pacific region will have the fastest CAGR over the forecast from 2024 to 2032. Drive by rapid digital transformation, rising adoption of smartphones, and growing acceptance of e-commerce and digital payments across countries such as China, India, and Southeast Asia. Encouraging government schemes regarding digital identity verification and biometrics for public services are also supporting the growth of the market. Furthermore, increasing awareness regarding cybersecurity incidents across this region has compelled organizations to develop advanced authentication solutions, in turn making Asia-Pacific a key growth zone for the behavioral biometrics market.
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Recent Developments:
-In May 2024, Permira acquired a majority stake in BioCatch for USD 1.3 billion, aiming to accelerate its global expansion and product innovation. The deal follows BioCatch's strong financial performance, including a 43% ARR growth in 2024 and a surge in scam prevention tool revenue.
-In December 2024, SecureAuth acquired SessionGuardian to strengthen continuous biometric identity assurance for remote work security.
-In August 2024, Gartner recognized TypingDNA as a Sample Vendor in Passive Behavioral Biometrics in its 2024 Hype Cycle reports, highlighting its impact on identity verification and fraud prevention.
Table of Content - Major Points Analysis
Chapter 1. Introduction
Chapter 2. Executive Summary
Chapter 3. Research Methodology
Chapter 4. Market Dynamics Impact Analysis
Chapter 5. Statistical Insights and Trends Reporting
Chapter 6. Competitive Landscape
Chapter 7. Behavioral Biometrics Market Segmentation, by Type
Chapter 8. Behavioral Biometrics Market Segmentation, by Component
Chapter 9. Behavioral Biometrics Market Segmentation, by Deployment
Chapter 10. Behavioral Biometrics Market Segmentation, by Application
Chapter 11. Behavioral Biometrics Market Segmentation, by Organization Size
Chapter 12. Behavioral Biometrics Market Segmentation, by Industry
Chapter 13. Regional Analysis
Chapter 14. Company Profiles
Chapter 15. Use Cases and Best Practices
Chapter 16. Conclusion
Continued...
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Akash Anand
SNS Insider
+1 415-230-0044
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