According
to the new market research report "Behavioral
Biometrics Market
by Component (Software & Services), Application (Identity & Access
Management, Risk & Compliance Management, Fraud Detection & Prevention
management), Deployment Model, Organization Size, and Vertical - Global
forecast to 2023", published by MarketsandMarkets™,
the behavioral biometrics market size is
expected to grow from USD 871.2 million in 2018 to USD 2,552.7 million by 2023,
at a Compound Annual Growth Rate (CAGR) of 24.0% during the forecast period.
The key
factors driving the behavioral biometrics market include growth in online
transactions and online fraudulent activities, and higher compatibility with
emerging AI technologies.
The
identity and access management application segment to hold the largest market size in the behavioral biometrics
market in 2018
The
identity and access management application segment would dominate the overall
behavioral biometrics market in terms of share, as the behavioral biometrics
applications are predominantly finding use in all major industry verticals to
reduce risks and improve the efficiency and transparency in payment systems
across verticals. The technology monitors user behavior, such as their typing
styles, in background while they log-in into their applications and during
sessions. Working retrospectively, behavioral biometrics provides an additional
layer of security over the existing identity and access solutions without impeding
the performance of applications and enhancing overall user experience.
Browse and
in-depth TOC on "Behavioral
Biometrics Market"
74
- Tables
37
- Figures
159
- Pages
The
services segment to grow at a higher CAGR in the global behavioral biometrics
market during the forecast period
The
categories in the behavioral biometrics market by components are software and
services. Professional services and managed services help enterprises in
building successful client relationships by continuously supporting them through
the business tenure. Further, these services benefit enterprises by maximizing
the resource usage, improving project execution, and streamlining the business
operations. As the adoption of behavioral biometrics software increases, the
need for services such as support and maintenance will also grow.
North
America to hold the largest market size in the behavioral biometrics market
during the forecast period
North
America is expected to account for the largest share of the overall market in
2018. It is the most advanced region in terms of technology adoption and IT
infrastructure. The presence of key vendors of behavioral biometrics and the
largest payments industry in the region is the major driving factor for the
behavioral biometrics market. All the major companies operating across major
verticals in the region are moving toward the adoption of the behavioral
biometrics software to develop business applications, due to the recognition of
behavioral biometrics potential of safeguarding users from cybercrimes by
understanding their behavioral patterns.
Major
vendors in the global behavioral biometrics market include BioCatch (Israel),
IBM (US), Nuance Communications (US), SecureAuth (US), Mastercard (US),
BehavioSec (Sweden), SecuredTouch (US), ThreatMark (Czech Republic), Plurilock
(Canada), Zighra (Canada), XTN (Italy), EZMCOM (US), One Identity (US),
Callsign (UK), FST Biometrics (Israel), UnifyID (US), AimBrain (UK), AuthenWare
(US), Sentegrity (US), TypingDNA (Romania), NoPassword (US), ID Finance
(Spain), Nethone (Poland), Pinn Technology (US), and Unbotify (Israel).
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