How Has the Behavioral Biometrics Market Evolved Historically and What is its Current Size?
The behavioral biometrics market has seen considerable growth due to a variety of factors.
• In recent years, the market size for behavioral biometrics has seen a significant rise. The growth is expected to go up from $2.4 billion in 2024 to a larger $2.92 billion in 2025, with a compound annual growth rate (CAGR) of 21.9%. The surge in growth during the historic period can be credited to factors such as increased usage of behavioral biometrics in mobile devices, escalating concerns about data breaches and identity theft, a rising demand for uninterrupted authentication, and a growing acceptance of behavioral biometrics in enterprise applications.
What Does Future Hold for The Behavioral Biometrics Market Size?
The Behavioral Biometrics market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipated to experience a significant surge in the upcoming years, the behavioral biometrics market is predicted to inflate to a whopping $6.99 billion by 2029. This signifies a compound annual growth rate (CAGR) of 24.4%.
The propelling factors behind this projection during the forecast period are the escalating adoption of behavioral biometrics in emerging markets, continuous authentication demand, the surge of behavioral biometrics in newer applications, and increasing governmental mandates for behavioral biometrics. Moreover, during the same period, major trends to watch out for are progress in artificial intelligence and machine learning, continued authentication, multi-modal biometrics, along with IoT security.
What Are The Primary Growth Drivers In The Behavioral Biometrics Market?
The behavioral biometrics market is likely to be spurred by an increase in data breach incidents. Data breaches involve illicit extraction of confidential information through harmful software or security breaches where confidential data can be extracted from a computer system without the system owner's permission. The use of behavioral biometrics serves to deter unauthorized access to information from the company's employee database by evaluating behavioural patterns. For example, the Department of Defence in Australia reported in November 2023 that the Australian Cyber Security Centre saw over 94,000 cybercrime reports during the 2022-2023 fiscal year. This is a 23 percent rise compared to the preceding year, 2021-2022. Consequently, the surge in cybersecurity and data breach incidents is propelling the growth of the behavioral biometrics market.
What Is The Segmentation Of The Global Behavioral Biometrics Market?
The behavioral biometrics market covered in this report is segmented –
1) By Components: Software, Services
2) By Type: Keystroke Dynamics, Gait Analysis, Signature Analysis, Voice Recognition
3) By Deployment Model: Cloud, On-Premises
4) By Application: Identity Proofing, Continuous Authentication, Risk And Compliance Management, Fraud Detection And Prevention
5) By Verticals: Banking, Financial Services And Insurance (BFSI), Retail, e-Commerce, Healthcare, Government And Defense, Telecommunications, Other verticals
Subsegments:
1) By Software: Authentication Software, Fraud Detection Software, Identity Verification Software, Risk Assessment Software
2) By Services: Consulting Services, Implementation Services, Support and Maintenance Services, Training Services
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What Emerging Trends Are Shaping The Behavioral Biometrics Market Landscape?
Leading firms engaged in the behavioral biometrics industry are creating strategic alliances to provide banks across Australia and New Zealand with superior fraud detection solutions powered by behavioral biometrics. The concept of strategic partnerships involves businesses drawing on each other's distinct strengths and resources for shared advantage and prosperity. For example, in October 2022, BioCatch, a behavioral biometrics organization based in Israel, established a partnership with Indue, a financial services company based in Australia. With this new collaboration, Indue's wide variety of banks, retailers, and non-profit entities can utilize BioCatch's cutting-edge technology to strengthen their defenses against fraud and online criminal activity. Users in Indue's network will now be able to experience a smoother online presence, promoting confidence and trust between banks and their clients.
Who Are the Key Players In The Behavioral Biometrics Market?
Major companies operating in the behavioral biometrics market include:
• BioCatch Ltd.
• Microsoft Corporation
• NuData Security Inc.
• LexisNexis Corporation
• Ping Identity Holding Corporation
• Fair Isaac and Company
• Prove Identity Inc.
• ThreatMark sro
• Plurilock Security Solutions Inc.
• Callsign Technologies LLC
• SecureAuth Corporation
• International Business Machines Corporation
• XTN Cognitive Security
• One Identity LLC
• TypingDNA
• Nethone Sp. z o.o.
• Unbotify Ltd.
• BehavioSec Inc.
• EZMCOM Inc.
• NEC Corporation
• Nuance Communications Inc.
• Samsung SDS
• SecuredTouch Inc.
• AimBrain Solutions Ltd.
• AuthenWare Corp.
• Fst Biometrics
• UnifyID Inc.
• Zighra Inc.
• Crossmatch Technologies Inc.
• EyeVerify Inc.
• FacePhi Biometria S.A.
What Are The Regional Insights Into The Behavioral Biometrics Market?
North America was the largest region in the behavioral biometrics market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the behavioral biometrics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
