Global behavioral biometrics market
Added: (Tue Jul 09 2019)
Pressbox (Press Release) -
Global behavioral biometrics market was valued at US$ 760.43 Mn in 2017 and is expected to reach US$ 4344.56 Mn by 2026, at a CAGR of 24.34% during a forecast period.
Global behavioral biometrics market
Behavioral biometrics is the field of study correlated to the measure of exclusively identifying and measurable patterns in human activities. The term compares with physical biometrics, which includes innate human characteristics such as fingerprints or iris patterns.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding behavioral biometrics market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in behavioral biometrics market.
The major growth drivers of the market include increasing online transactions and online fraudulent activities across the globe, and rising need for multi-layered security approach in the finance industry. Growth opportunities for the behavioral biometrics market include improved security as compared to static biometrics and higher compatibility with developing AI technologies. Apart from major applications such as fraud detection & prevention management, identity & access management, risk & compliance management will also fuel the growth of market. However, low cybersecurity budget and high installation cost of the behavioral biometrics software is hampering the market growth.
Services segment to grow at a higher CAGR during the forecast period in the global behavioral biometrics market. Managed services and professional services help enterprises in building successful client relationships by constantly supporting them through the business contract. As the adoption of behavioral biometrics software rises, the demand for services such as support and maintenance will also grow.
The demand for cloud-based behavioral biometrics solutions is increasing owing to cost-effective and time-efficient features of cloud. Therefore, SMEs would prefer to deploy behavioral biometrics solutions on the cloud. Cloud deployment model to grow at highest CAGR during the forecast period
North America to hold the leading market share in the behavioral biometrics market during the forecast period. It is the most progressive region in terms of technology adoption and IT infrastructure. All the key companies operating across major verticals in the region are moving toward the adoption of the behavioral biometrics software to improve business applications, owing to the recognition of behavioral biometrics potential of protecting users from cybercrimes by understanding their behavioral patterns.
Scope of the Global Behavioral Biometrics Market
Global Behavioral Biometrics Market by Component
• Software
• Services
Global Behavioral Biometrics Market by Application
• Identity & Access Management
• Risk & Compliance Management
• Fraud Detection & Prevention management
Global Behavioral Biometrics Market by Deployment Model
• On-Premises
• Cloud
Global Behavioral Biometrics Market by Organization Size
• Small and Medium-Sized Enterprises
• Large Enterprises
Global Behavioral Biometrics Market by Vertical
• BFSI
• Retail & Ecommerce
• Healthcare
• Government & Defense
• Telecommunications
• Manufacturing
• Others
Global Behavioral Biometrics Market by Geography
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• South America
Key Players operating in the Global Behavioral Biometrics Market
• BioCatch
• IBM
• Nuance Communications
• SecureAuth
• Mastercard
• BehavioSec
• ThreatMark
• Plurilock
• One Identity
• FST Biometrics
• UnifyId
• AimBrain
• Zighra
• AuthenWare
• XTN
• Sentegrity
• TypingDNA
• NoPassword
• ID Finance
• Nethone
• Pinn Technologies
• EZMCOM
• Securedtouch
• Unbotify
• Callsign