Behavioral Biometrics Market Development Strategy and Future Prospects 2023 in information technology

  • Nov. 15, 2021, 6:56 a.m.
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  • Public

Behavioral biometrics, also known as behavior-based authentication, is a dynamic form of cybersecurity practice/technology that records and measures human behavioral patterns for verifying and authenticating computer-user activities of individuals either in real-time or retrospectively. It can be used to authenticate high-risk sessions, including remote login, unusual transactions, and password changes in a way that is transparent and friction-free to the end-user. Behavioral biometricss software enhances security of users’ behaviraol data by analyzing multiple data and endpoint interactions, such as hand-eye coordination, signature analysis, voice or speech recognition, pressure, hand tremors, navigation, and other finger movements. The global behavioral biometrics market 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. Major growth factors for the market include rapid growth in online transactions and online fraudulent activities, and an increasing need for multi-layered security approach in the BFSI industry vertical.

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Top Key Players

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).

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 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.

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The services segment to grow at a higher CAGR in the global 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.

Founded in 1992, Nuance Communications is headquartered in Massachusetts, the US. It provides voice recognition and natural language understanding solutions. The companys segments include Healthcare, Mobile, Enterprise, and Imaging. The Healthcare segment provides clinical speech and clinical language understanding solutions. Its Mobile segment provides a portfolio of specialized virtual assistants and connected services. The Enterprise segment provides automated customer solutions and services. The Nuance Communications offers Nuance Security Suite to cater to behavioral biometrics market. In February 2018, the company launched a new biometric security solution for fraud prevention and authentication, and a key advancement to its Omni-Channel Customer Engagement Platform. The new solution offers a comprehensive and layered AI-based approach, with the help of ConversationPrint and Intelligent Detectors, toward omni-channel frauds through voice and face or behavioral biometrics.

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