The global Behavioral Biometrics market size is expected to be worth around US$ 4.65 billion by 2027, according to a new report by Vision Research Reports.
The global Behavioral Biometrics market size was valued at US$ 0.85 billion in 2019 and is anticipated to grow at a CAGR of 24.6% during forecast period 2020 to 2027.
Owing to the increasing incidences of cyberattacks and the growing demand to protect customer data and offer them a streamlined experience, enterprises are looking for advanced security solutions. As behavioral biometric tools are less vulnerable to authentication frauds and hacking, their demand is expected to increase across end-use industries.
A notable rise in the number of fraudulent activities across the globe is further expected to drive the demand for behavioral biometrics solutions over the forecast period. According to a survey conducted by the Communications Fraud Control Association (CFCA), the telecom industry reported that in 2017, it incurred nearly USD 29.2 billion worth of losses from communication frauds. The use of technologies such as AI and machine learning for developing behavioral biometrics tools are gaining popularity in the market as they offer real-time intelligence and security control with enhanced user experience.
To stay competitive in the market, vendors are focusing on expanding their behavioral biometrics portfolio through innovations and mergers and acquisitions. For instance, in February 2020, BioCatch announced the acquisition of the multimodal biometric authentication capabilities of AimBrain. The acquisition would help the former to enhance its capabilities in anomaly detection, behavioral biometrics, and other biometrics modalities for applications in the field of digital identity.
The software segment dominated the behavioral biometrics market with a revenue share of over 71% in 2019. The growing demand for reliable and safe digital transactions globally, owing to the growing penetration of smartphones and the e-commerce industry, is leading to the increased adoption of behavioral biometrics software. On the basis of the component, the market is segmented into software and service. The service segment is further segmented into managed services and professional services. Additionally, the rising number of fraudulent activities coming to light is driving the demand for behavioral biometrics software.
The voice recognition segment dominated the market with a share of over 36% in 2019. The demand for voice assistants such as Google Home, Alexa, Siri, and Cortana is growing and consumers are likely to be interested in using voice biometrics to unlock their personal devices. Voice recognition also helps in identifying fraudsters within the voice channel as it involves a one-to-one match between voice samples. These factors are expected to propel the growth of the voice recognition segment. Based on the type, the market is segmented into keystroke dynamics, gait analysis, signature analysis, and voice recognition.
The identity proofing segment dominated the market with a share of over 35% in 2019 and is expected to retain its dominance over the forecast period as well. Identity proofing solutions provide different authentication options to users based on their privilege levels. These solutions also help in setting up policies for authenticating sensitive applications by developing fail-safe mechanisms. Based on application, the market is segmented into identity proofing, continuous authentication, risk and compliance management, and fraud detection and prevention.
The on-premise segment dominated the market with a share of over 61% in 2019. This can be attributed to the fact that on-premise behavioral biometrics solutions are easy to integrate and configure with existing online offerings. Furthermore, the on-premise implementation provides organizations with a high degree of customization and also incurs lower costs in case of any additional resources. Based on deployment, the market has been segmented into on-premise and cloud.
The large enterprise segment dominated the market with a share of over 71% in 2019. Large enterprises focus on implementing behavioral biometrics in their business applications to improve customer loyalty and reduce overall infrastructure costs. This trend is expected to drive demand for behavioral biometrics in the large enterprise segment. Increasingly sophisticated data theft and cyberattacks are driving the adoption of behavioral biometrics-based cybersecurity measures, which provide adaptive authentication and persistent security, in large enterprises. Furthermore, behavioral biometrics tools allow large enterprises to meet the increasingly stringent cybersecurity regulations and standards such as ISO 27001, NIST 800-171, and Health Insurance Portability and Accountability Act (HIPAA).
The BFSI segment dominated the market with a share of over 24% in 2019 and is expected to retain its dominance over the forecast period as well. Organizations in the BFSI sector are using behavioral biometrics to develop next-generation identification solutions that can combat fraudulent activities and make transactions more secured. A continuous rise in government initiatives and financial regulations globally is compelling companies in the BFSI sector to opt for behavioral biometrics solutions to secure customer data and to offer enhanced customer experience. Based on end-use, the market is segmented into BFSI, retail and e-commerce, healthcare, government and defense, IT and telecom, and others.
North America dominated the market with a revenue share of over 31% in 2019. The growing demand for data security through behavioral biometrics solutions and the presence of leading technology providers is anticipated to drive the market growth in North America. Furthermore, end-use industries such as BFSI, government, and IT and telecom in the region are significantly focusing on adopting behavioral biometrics to secure their offerings and customer data. Governments in the region are also taking a keen interest in behavioral biometric applications and are aggressively funding and organizing various research programs to develop advanced behavioral biometrics applications. For instance, in October 2017, Intelligence Advanced Research Projects Activity (IARPA) launched the Odin program to develop sensors, algorithms, and technologies for advanced biometric technology against increasing cyberattacks in the U.S.
Fair Isaac Corporation
Nuance Communications, Inc.
Plurilock Security Solutions Inc.
Risk & Compliance Management
Fraud Detection & Prevention
Enterprise Size Outlook
Small & Medium Enterprise
End-use Size Outlook
Retail & E-commerce
Government & Defense
IT & Telecom
The Behavioral Biometrics market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Behavioral Biometrics market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Behavioral Biometrics market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Behavioral Biometrics market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Behavioral Biometrics market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Behavioral Biometrics capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Behavioral Biometrics by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Behavioral Biometrics market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Behavioral Biometrics market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Behavioral Biometrics market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Behavioral Biometrics industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Behavioral Biometrics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Behavioral Biometrics market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Behavioral Biometrics market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Behavioral Biometrics market. These factors have benefited the growth of the global market for Behavioral Biometrics. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Behavioral Biometrics. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Behavioral Biometrics are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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