Behavioral Biometrics Market Growth: How Iot Expansion & Rising Online Transactions Drive Security Innovation

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Behavioral Biometrics market Forecast

The global behavioral biometrics market is growing due to rising online transactions, IoT expansion, and increasing demand for advanced security systems.

WILMINGTON, DE, UNITED STATES, February 8, 2025 /EINPresswire / -- 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.

Behavioral biometrics system refers to the cognitive footprint of the user, which focuses on different behavioral characteristics of the user as how they performs a specific action. These solutions consist of various types of solutions depending on their authentication methods such as keystroke dynamics, gait analysis, signature analysis, and others. This technology decreases the dependency on passwords and other forms of authentication, and prevents single point of failure.

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It is becoming mainstream, as enterprise customers have been constantly focusing on adding an additional layer of security on top of existing authentication methods to secure their data. Development of IoT landscape, rise in number of online transactions, and surge in number of advanced threats have led to increased need for enhanced authentication systems, thereby driving the market growth. However, low digital security funding restrains the growth of the market.

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.

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.

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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 in the near future, 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.

Key players in the 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.

Recent Development in Behavioral Biometrics Market

1. In February 2023, BioCatch, a provider of behavioral biometric intelligence and advanced fraud prevention technology, established its Australian operations, aiming to expand its global presence and enhance its technological offerings.

2. In May 2024, Permira acquired a majority stake in BioCatch for USD 1.3 billion, aiming to accelerate its global expansion and product innovation.

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