Behavioral biometrics use unique identifying and measurable human activity patterns for identification purposes. It uses various detection methods such as signature analysis, voice ID, mouse use characteristics, cognitive analysis, and gait analysis. Increasing requirement of multilayer security system owing to rising cybersecurity concerns is the major factor anticipated to drive the growth of the global behavioral biometrics market over the forecast period.
The global behavioral biometrics market has been segmented on the basis of component, deployment mode, application, vertical, and region. On the basis of component, the market is segmented into software and services. Services segment holds a major share in terms of revenue and expected maintain its dominance in the near future. On the basis of deployment mode, the market is segmented into cloud and on-premises.
On the basis of application, the market is segmented into fraud detection and prevention management, identity and access management, and risk and compliance management. Identity and access management segment dominates the global behavioral biometrics market and anticipated to register a high growth rate in terms of revenue over the forecast period, due to increasing use in the financial transaction sector for improvement of transparency and efficiency. On the basis of vertical, the market is segmented into government and defense, banking and financial services, retail and e-commerce, healthcare, telecommunication, and others.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Currently, North America is dominating the global market in terms of revenue and expected to maintain its position over the forecast period, owing to presence of key players and high adoption of new technology among consumers in the region. The Asia Pacific market is expected to witness a significant growth in terms of revenue in the near future, due to increasing software industry and financial sector in the countries such as India and China. Additionally, increasing cyber-crimes coupled with increasing need of security also expected to fuel the growth of the behavioral market in Asia Pacific region.
Key players operating in the global behavioral biometrics market include BioCatch Ltd., International Business Machines Corporation, Nuance Communications, Inc., SecureAuth Corporation, Mastercard Incorporated, Behaviosec Inc., SecuredTouch Inc., ThreatMark s.r.o., Plurilock Security Solutions Inc., and ZIGHRA INC.