Global Behavioral Biometrics Market Size, Share, Growth, Trends, Company Analysis and Forecast 2019-2026

Published Date : Aug 2019 | No. of Pages : 140 Pages | Category : Others

The report offers extensive analysis of the current market size & forecast, key winning strategies, industry dynamics, and competitive landscape. The global behavioral biometrics market size was around $721.8 million in 2018 and is projected to reach $3,922.4 million by 2026, growing at a CAGR of 23.9% from 2019 to 2026.

Increase in the number of online transactions, development of IoT landscape coupled with aggrandized need for enhanced security systems drive the growth of the global behavioral biometrics market. However, performance issues associated with behavioral biometrics solutions and lack of cybersecurity budget would impede the growth of the industry. Conversely, emergence of artificial intelligence in behavioral biometrics and expansion of the cloud-based solutions would create new opportunities in the industry in the coming years.

Software segment to lead in terms of revenue, service segment to grow the fastest

Among components, software segment accounted for the largest share in 2017, contributing 72% of the total market revenue and is projected to maintain its dominance through 2026. This is attributed to the fact that software can be upgraded and updated depending on the evolving nature of threats and vulnerabilities, which creates more applications among businesses. However, the service segment would grow at the fastest CAGR of 26.5% during the forecast period, owing to the ease of deployment of these services to ensure proper deployment and functioning of the software.

Gait analysis segment to exhibit fastest growth through forecast period

Among types, the gait analysis segment is projected to grow at the fastest CAGR of 27.5% through the forecast period, owing to in the inflow of investments in this technology and increase in the number of applications. On the other hand, the voice recognition segment dominated the global market accounting for about two-fifths share of market in 2017. It is anticipated to retain its dominance through 2026 due to significant adoption of voice biometrics solutions among users coupled with growing need for foolproof security techniques for technology-driven systems and high degree of accuracy offered by these solutions. The report also analyzes keystroke dynamics, signature analysis among other types.

Cloud-based deployment mode to exhibit fastest growth, on premise to dominate through 2026

Among deployment modes, the on-premise segment grabbed the largest share of nearly 60% in 2017 and is expected to retain its dominance through 2026. This is because on premise-based solutions are widely adopted due to their numerous benefits such as enhanced security and better maintenance of servers as compared to cloud based solutions. However, the cloud-based segment would grow at the fastest CAGR of 27.6% from 2019 to 2026, this mode of deployment is preferred by business organizations due to numerous benefits such as cost-efficiency and flexible infrastructure. In addition, growing focus of various companies on the development of cloud-based solutions is expected to create opportunities in the market.

Healthcare segment to grow the fastest, BFSI segment to dominate through 2026

Among industries, the BFSI sector contributed 27.1% of the total market share in 2017 and is expected to maintain its revenue lead throughout the study period. This is owing to the rise in cybercrimes and significant adoption of behavioral biometrics solutions for anti-fraud purposes. On the other hand, the healthcare segment is projected to grow at the fastest CAGR of 25.5% from 2019 to 2026, owing to the digitalization of healthcare data among institutions using advanced behavioral biometrics solutions. The report also includes retail & e-commerce, government & defense, and IT & telecom among other industry verticals.

Identity proofing to maintain lion's share through 2026

Significant adoption of behavioral biometrics solutions for identity proofing among BFSI and other organizations have facilitated the identity proofing segment to garner more than one-third share of the market in 2017. The segment would dominate the market through 2026. However, the fraud detection and prevention segment would exhibit the fastest CAGR of 25.2% through the study period. Growing adoption of behavioral biometrics solutions for fraud detection and prevention to control and manage frauds has led to the growth of the segment. The other applications analyzed in the report include continuous authentication and risk and compliance management.

Large enterprises to dominate

The large enterprises segment held the largest share of 76.3% in 2017 and would maintain its revenue lead through 2026. This is due to the high digital security spending among these organizations and increased need for digital security due to the growing number of identity spoofing cases. However, the SMEs segment would grow at the fastest CAGR of 26.8% from 2019 to 2026, owing to the surge in adoption of behavioral biometric solutions and increase in ICT spending among these enterprises.

North America to accrue highest revenue, Asia-Pacific to grow the fastest

The behavioral biometrics market in North America contributed more than one-third share of the total market in 2017 and would maintain its lead through 2026. This on account of the high adoption of behavioral biometrics solutions coupled with well-established BFSI industry and high ICT spending among organizations for data security solutions across the region. However, the Asia-Pacific region would register the highest CAGR of 26.5% from 2019 to 2026, owing to factors such as rise in security spending among government organizations, rapid penetration of smartphones in emerging economies such as China, Japan, India, Australia, and South Korea. The other regions analyzed in the study include Europe and Latin America, Middle East and Africa (LAMEA).

The report analyzes and forecasts the behavioral biometrics market at global and regional levels. The market has been forecast based on volume (Tons) and value (US$ Mn) from 2019 to 2026. 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 comprises a detailed value chain analysis, which provides a comprehensive view of the global behavioral biometrics market. The Porter’s Five Forces model has also been included to help understand the competitive landscape of the market. The study encompasses market attractiveness analysis, wherein various applications have been benchmarked based on their market size, growth rate, and general attractiveness.

The study provides a decisive view of the behavioral biometrics market by segmenting it in terms of form and application. The segment has been analyzed based on the present and future trends. Regional segmentation includes the current and projected demand in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

The report provides size (in terms of volume and value) of behavioral biometrics market for the base year 2018 and the forecast between 2019 and 2026. 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.

The main objective of this report is to aid the user in understanding the market as a whole, its definitions, segmentation, market potential, influential trends, and the barriers that it is facing. Meticulous research and analysis were an important part of the report preparation. Those reading the report will be able to get a detailed understanding about the market. Industry experts have verified and checked the data and information that have been taken from credible sources like websites, annual reports of companies, journals, and other resources. In order give the facts and data a pictorial form, diagrams, graphs, pie charts, and other representations have been used. That augments the visual appeal of the report and makes understanding it much easier.

Competitive Landscape is the most valuable part of this report

The key market players operating in the industry include BehavioSec Inc., BioCatch, EZMCOM Inc., IBM Corporation, NEC Corporation, Nuance Communications, Inc., NuData Security Inc., Plurilock, Samsung SDS, SecuredTouch Inc., and others. New product launches, joint ventures, expansions, mergers & acquisitions, partnerships, collaborations, and others are some of the strategies implemented by them to gain a lead position in the industry.

Key financial developments of a particular company and product & company overview are some of the elements that help in acquiring information about top vendors in the market.  This particular section has also included a SWOT analysis of the companies featured in the report. This will help the audience in knowing about opportunities, strengths, threats and weaknesses that are facing by the key vendors in the chemical and material industry across the world. As the competitive landscape is the most valuable part of any report, it consists of all the required information for the detailed study of top players functioning in the industries. It is also an interesting part to find how exactly these key manufacturers implement various strategies to secure the top rank in the industry. Such an in-depth information is useful for the new entrants into the industry as they would be able to learn a bit from these key vendors. Similarly, the information provided in the research report will also be valuable for the renowned key players as well, as they come to know the strategies of their counterparts to sustain in the competitive industry.

Segmentation:

By Component

  • Software
  • Service

By Type

  • Keystroke Dynamics
  • Gait Analysis
  • Signature Analysis
  • Voice Recognition
  • Others

By Deployment Model

  • On-premise
  • Cloud

By Application

  • Identity Proofing
  • Continuous Authentication
  • Risk & Compliance Management
  • Fraud Detection & Prevention

By Organization Size

  • Large Enterprises
  • SMBs

By Industry-vertical

  • BFSI
  • Retail & E-commerce
  • Healthcare
  • Government & Defense
  • IT & Telecom
  • Others

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Report coverage

  • Analysis Period: 2015 – 2026
  • Base Year: 2018
  • Forecast Data: 2019 – 2026
  • Regional Scope: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Report Coverage: Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.

Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.

The study objectives of this report are:

  • To analyze and study the global behavioral biometrics capacity, production, value, consumption, status (2014-2018) and forecast (2019-2026);
  • Focuses on the key behavioral biometrics manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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