Pune, March 01, 2023 (GLOBE NEWSWIRE) -- As per SNS Insider, the Behavioral Biometrics Market was valued at USD 2.01 billion in 2022, and is projected to reach USD 11.64 billion by 2030, with a CAGR of 24.5% during the forecast period of 2023-2030.
The global behavioral biometrics market is witnessing a remarkable growth trend, driven by several factors. One of the key drivers of market growth is the increasing instances of data breaches and cyber-attacks worldwide. Another factor contributing to the growth of the market is the rising demand for high-security enterprise solutions. With technological advancements and innovations, behavioral biometrics is expected to become even more accurate and efficient, further fueling the growth of the market.
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By Component
- Software
- Service
By Type
- Voice Recognition
- Keystroke Dynamics
- Gait Analysis
- Signature Analysis
- Others
By Deployment
- On-premise
- Cloud-based
By Application
- Risk & Compliance Management
- Identity Proofing
- Continuous Authentication
- Fraud Detection & Prevention
By Organization Size
- Large Enterprises
- SMEs
By Industry
- Retail & E-commerce
- Healthcare
- BFSI
- Government & Defense
- IT & Telecom
- Others
Major Trends Observed for Behavioral Biometrics Market
- The Identity Proofing segment has emerged as the largest contributor to the global market, and it is expected to maintain this trend in the forecast period. The reason for the growth of the Identity Proofing segment is due to the rise of digital transactions and the need for secure online identity verification.
- The BFSI has been a major segment in the global market for many years, and it is expected to maintain its dominance in the forecast period. The reason for this is that the BFSI sector is constantly evolving and adapting to new technologies and market trends.
- The North American region has emerged as a dominant player in the global market, particularly in the BFSI and ICT sectors. This can be attributed to the region's proactive approach in adopting the latest technological advancements and integrating them into their business operations.
Impact of recession on Behavioral Biometrics Market
The market is a rapidly growing sector, with increasing demand for security and fraud prevention in various industries. However, like any other market, it is not immune to the effects of an economic downturn. During a recession, businesses and individuals tend to cut back on spending, leading to a decrease in demand for goods and services. On the other hand, the market could also experience some positive effects during a recession. As companies look for ways to improve efficiency and reduce costs, they may turn to behavioral biometrics as a tool to streamline operations and reduce manual processes.
Key Developments Related to Behavioral Biometrics Market
- BioCatch, a leading provider of behavioral biometrics solutions, has been chosen by Indue, a payments provider, to enhance its fraud prevention capabilities for financial institutions, retailers, and non-profit organizations in Australia and New Zealand. The adoption of BioCatch's advanced technology is expected to provide increased security against fraud attacks and cybercrime.
- LexisNexis® Risk Solutions, a global provider of data analytics and risk management solutions, has recently acquired BehavioSec®, a leading provider of behavioral biometrics technology. This strategic move by LexisNexis® Risk Solutions, which is part of RELX, is expected to strengthen its portfolio of fraud and identity management solutions.
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Table Of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact Of Ukraine- Russia War
4.3 Impact Of Ongoing Recession
4.3.1 Introduction
4.3.2 Impact On Major Economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest Of The World
5. Value Chain Analysis
6. Porter’s 5 Forces Model
7. PEST Analysis
8. Global Behavioral Biometrics Market Segmentation, By Component
8.1Introduction
8.2 Software
8.3 Service
9. Global Behavioral Biometrics Market Segmentation, By Type
9.1 Introduction
9.2 Voice Recognition
9.3 Keystroke Dynamics
9.4 Gait Analysis
9.5 Signature Analysis
9.6 Others
10. Global Behavioral Biometrics Market Segmentation, By Deployment
10.1 Introduction
10.2 On-Premise
10.3 Cloud-Based
11. Global Behavioral Biometrics Market Segmentation, By Application
11.1 Introduction
11.2 Risk & Compliance Management
11.3 Identity Proofing
11.4 Continuous Authentication
11.5 Fraud Detection & Prevention
11.6 Other
12. Global Behavioral Biometrics Market Segmentation, By Organization Size
12.1 Introduction
12.2 Large Enterprises
12.3 SMBs
12.4 Other
13. Global Behavioral Biometrics Market Segmentation, By Industry
13.1 Introduction
13.2 Retail & E-Commerce
13.3 Healthcare
13.4 BFSI
13.5 Government & Defense
13.6 IT & Telecom
13.7 Others
14. Regional Analysis
14.1 Introduction
14.2 North America
14.2.1 USA
14.2.2 Canada
14.2.3 Mexico
14.3 Europe
14.3.1 Germany
14.3.2 UK
14.3.3 France
14.3.4 Italy
14.3.5 Spain
14.3.6 The Netherlands
14.3.7 Rest Of Europe
14.4 Asia-Pacific
14.4.1 Japan
14.4.2 South Korea
14.4.3 China
14.4.4 India
14.4.5 Australia
14.4.6 Rest Of Asia-Pacific
14.5 The Middle East & Africa
14.5.1 Israel
14.5.2 UAE
14.5.3 South Africa
14.5.4 Rest
14.6 Latin America
14.6.1 Brazil
14.6.2 Argentina
14.6.3 Rest Of Latin America
15. Company Profiles
15.1 Mastercard Incorporated.
15.1.1 Financial
15.1.2 Products/ Services Offered
15.1.3 SWOT Analysis
15.1.4 The SNS View
15.2 BioCatch Ltd.
15.3 Nuance Communications Inc.
15.4 NuData Security
15.5 SecuredTouch Ltd.
15.6 UnifyID
15.7 Fair Issac Corporation
15.8 ThreatMark
15.9 Callsign Inc.
15.10 Adjust GmbH
15.11 Mastercard Incorporated
15.12 Plurilock Security Solutions Inc.
15.13 SecureAuth Corporation
15.14 Zighra
15.15 BEHAVIOSEC INC.
15.16 EZMCOM Inc.
15.17 IBM Corporation
15.18 NEC Corporation
15.19 SAMSUNG SDS
15.20 Other
16.Competitive Landscape
16.1 Competitive Benchmark
16.2 Market Share Analysis
16.3 Recent Developments
17. Conclusion
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