Dublin, Dec. 21, 2023 (GLOBE NEWSWIRE) -- The "Behavioral Biometrics Market Size, Share & Trends Analysis Report By Component, By Type, By Application, By Deployment, By Enterprise Size, By End-use, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The emergence of technologically enhanced security measures has taken the forefront in the global battle against cybercrime, as evidenced by the latest market analysis report. According to the in-depth study, the behavioral biometrics market is projected to burgeon to an impressive USD 9.92 billion by the year 2030. This remarkable growth trajectory, equivalent to a 27.3% compound annual growth rate (CAGR) from 2023 to 2030, underscores the pivotal role behavioral biometrics is expected to play in safeguarding data integrity across numerous sectors.
Behavioral Biometrics Market: A Vital Component in Cybersecurity
As the complexities and frequency of cyberattacks rise, so does the necessity for robust security measures that go beyond traditional methods. Encompassing a variety of components such as services and solutions, the behavioral biometrics market is evolving, focusing on offering ironclad protection with seamless user experiences. The service segment, in particular, is forecasted to witness brisk growth, catalyzed by a growing reliance on IT infrastructure for enhanced productivity.
Emerging Trends and Applications Key Trends to Shape Behavioral Biometrics Landscape
- Keystroke Dynamics Spearheading Growth: The market sees a significant uptick, particularly within the keystroke dynamics type segment, given the spurt in online activities and the concurrent rise in fraud.
- Continuous Authentication Gains Ground: With a thrust towards multifaceted security, continuous authentication emerges as a sought-after application in the behavioral biometrics repertoire.
- Healthcare Sector Embraces Biometric Security: Recognizing the criticality of protecting medical records, the healthcare segment is poised to rapidly adopt behavioral biometric technologies.
- SMEs Eager to Invest in Security: Small and medium enterprises (SMEs) are demonstrating pronounced interest in beefing up their cybersecurity defenses, thus stimulating growth in this enterprise segment.
Geographic Market Analysis
North America maintains a strong lead, commanding over one-third of the market share in the previous year, while the Asia Pacific region exhibits the fastest growth rate, thanks to heightened technological adoption coupled with an increase in security awareness.
The full analysis provides an in-depth view of current market dynamics, future projections, and how behavioral biometrics is slated to enhance the security frameworks in various industries, from financial services to healthcare—where a breach in data can lead to drastic consequences.
As cybersecurity threats become increasingly sophisticated, the market for behavioral biometrics tools will expand in tandem with the need for resilient and advanced security solutions. This rising trend underscores the importance of investing in security measures that offer both protection and a user-friendly experience, suggesting a period of considerable growth and innovation within the cybersecurity domain over the next seven years.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 120 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $1.45 Billion |
| Forecasted Market Value (USD) by 2030 | $9.92 Billion |
| Compound Annual Growth Rate | 27.3% |
| Regions Covered | Global |
Companies Mentioned
- BehavioSec (LexisNexis)
- BioCatch
- FICO
- Mastercard
- Nuance Communications, Inc.
- Plurilock Security Inc.
- SecureAuth Corporation
- SicuredTouch (Ping Identy)
- UnifyID
- Zighra
For more information about this report visit https://www.researchandmarkets.com/r/6x8s6s
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