Sales Revenue of Behavioural Biometrics Market To Surge in Near Future Owing To Rapid Adoption Across Key Industries : Fact.MR

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As per Fact.MR, a market research and competitive intelligence provider, the global market for behavioural biometrics is anticipated to top US$ 9 Bn by 2031, surging at a CAGR of 20% over the next ten years. Behavioural biometrics is a technology that analyzes measurable patterns in human activities. These patterns include mouse activity, keystroke movement, and device movement. Behavioural biometrics identifies interactive gestures such as how individuals type on a keyboard, how they use the mouse, how they move the device, and how they touch the screen.

Physical biometrics involves fingerprints or iris patterns, whereas, behavioural biometrics continuously evaluates a user’s ongoing interaction with their devices. Behavioural biometrics discriminates between a legitimate user and a cybercriminal by identifying unique patterns in human activities. Financial institutions, businesses, and government facilities are using behavioural biometrics for payments, online banking, and secure authentication. The behavioural biometrics market is expected to accelerate rapidly as products and services are moving into advanced digital security beyond simple passwords and pin codes.

Wide acceptance of behavioural biometrics for fraud prevention and detection in financial services, consumer applications, and government applications is set to drive market growth at a fast pace over the coming years.

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Key Segments Covered in Behavioural Biometric Software Industry Research

  • Component
    • Behavioural Biometric Software
    • Behavioural Biometric Services
      • Behavioural Biometric Managed Services
      • Behavioural Biometric Professional Services
  • Deployment Model
    • On-premise Behavioural Biometric Software Solutions
    • Cloud-based Behavioural Biometric Software Solutions
  • Enterprise Size
    • Behavioural Biometric Software for Small & Medium Enterprises
    • Behavioural Biometric Software for Large Enterprises
  • Type
    • Keystroke Dynamics
    • Gait Analysis
    • Signature Analysis
    • Voice Recognition
  • Application
    • Application of Behavioural Biometric Software in Identity & Access Management
    • Application of Behavioural Biometric Software in Risk & Compliance Management
    • Application of Behavioural Biometric Software in Fraud Detection & Prevention Management
    • Application of Behavioural Biometric Software in Identity Proofing
    • Application of Behavioural Biometric Software in Continuous Authentication
      • Single Factor Behavioural Biometric Authentication
      • Multi-Factor Behavioural Biometric Authentication
  • Industry Vertical
    • Use of Behavioural Biometric Software in BFSI Sector
    • Use of Behavioural Biometric Software in Retail & e-Commerce Sector
    • Use of Behavioural Biometric Software in Healthcare Sector
    • Use of Behavioural Biometric Software in Government & Defense Sector
    • Use of Behavioural Biometric Software in IT & Telecom Sector

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Key Takeaways from Market Study

  • Global behavioural biometrics market to top US$ 9 Bn by 2031.
  • Behavioural biometrics software projected to reach around US$ 5 Bn valuation by 2031.
  • Behavioural biometrics services projected to record above 15% CAGR over next 10 years.
  • Market in North America holds share of more than 40%.
  • Market in South Korea expected to reach valuation of US$ 1.1 Bn by 2031.
  • Market in Australia to record 14% CAGR over forecast period of 2021- 2031.

“Increasing adoption of Internet of Things and cloud computing by organizations is expected to create further opportunities for providers of behavioural biometrics over the coming years,” according to a Fact.MR analyst.

Market Competition

The market is moderately competitive, consisting of players strategically focusing on innovation and new solution launches.

  • In June 2020, U.S.-based identity security independent software vendor (ISV) SecureAuth signed a distribution agreement with Arrow Electronics for Australia and New Zealand.

Major vendors providing behavioural biometric software and services are continuously focusing on research & development for increasing their share in the global market.

  • In February 2019, Plurilock Security Solutions Inc. introduced its new product ADAPT MFA, to provide next-generation multi-factor authentication for enterprise environments.
  • In February 2020, BioCatch, a global leader in behavioural biometrics, acquired Aimbrain, to enhance fraud detection, delivering seamless and secure digital experience to organizations and users.

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Behavioural Biometric Software Industry Report Scope

Attribute Details
Market size value in 2020 USD 1.5 Billion
Market forecast value in 2031 USD 9 Billion
Growth Rate CAGR of 20% from 2021 to 2031
Forecast Period 2021-2031
Historical Data Available for 2016-2020
Market Analysis US$ Mn for Value & ‘000 Units for Volume
Key Regions Covered North AmericaLatin AmericaEuropeEast AsiaSouth AsiaOceaniaMEA
Key Countries Covered U.S.CanadaGermanyU.K.FranceSpainItalyRussiaChinaJapanSouth KoreaIndiaAustraliaBrazilMexicoArgentinaGCCSouth Africa
Key Market Segments Covered ComponentDeployment ModelEnterprise SizeTypeApplicationIndustry VerticalRegion
Key Companies Profiled BioCatch Ltd.Nuance Communications Inc.MasterCard IncorporatedThreatMark s.r.o.Plurilock Security Solutions Inc.ZIGHRA INC.Secured TouchGetSmart Solutions Ltd.AkiyamaNuData SecurityG2 Data TechnologiesNexgen TechnologiesNet Com SASUnifyIDSecureAuth CorporationFair Issac CorporationBehavioSec Inc.
Pricing Available upon Request

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