$2.5 Bn Behavioral Biometrics Market - Global Forecast to 2023

DUBLIN, Aug. 7, 2018 /PRNewswire/ --

The "Behavioral Biometrics Market by Component, Application (Identity & Access Management, Risk & Compliance Management, Fraud Detection & Prevention management), Deployment Model, Organization Size & Vertical - Global forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The global behavioral biometrics market size 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.

The major growth drivers of the market include rise in online transactions and online fraudulent activities across the globe, and an increasing need for multi-layered security approach in the finance industry. Growth opportunities for the behavioral biometrics market include enhanced security as compared to static biometrics, and higher compatibility with emerging AI technologies. Apart from major applications such as identity and access management, and fraud detection and prevention management, risk and compliance management will also fuel the growth of market.

The behavioral biometrics market study aims at estimating the market size and future growth potential of the market across segments, such as component (software and services), application, deployment model, organization size, vertical, and region. The user experience management application is expected to dominate the market's application segment, as companies across major verticals are deploying behavioral biometrics solutions for enhancing customers' overall web experience by improving the performance of web site.

The behavioral biometrics market by component covers behavioral biometrics software and behavioral biometrics services. In the component segment, the service segment is expected to record the highest growth rate as the behavioral biometrics technology has been around for nearly decade, resulting complete adoption and deployment of behavioral biometrics software for which users need continuous post-service assistance for all kind of updates and upgrades. As a result, the professional services, mainly for support and maintenance, will grow at a higher rate.

Behavioral biometrics applications are witnessing steady demand growth across major industry verticals including BFSI, retail and eCommerce, healthcare, telecommunications, government and defense, and others, mainly due to the increasing adoption of major business applications such as identity and access management, fraud detection and prevention management, and risk and compliance management. Applications such as identity and access management, fraud detection and prevention management, and risk and compliance management assist users with an additional layer of security over the existing identity and access solutions without impeding the performance of applications and enhancing overall user experience.

The large enterprises segment is expected to dominate the market in terms of market size, as large enterprises are focusing on implementing behavioral biometrics business applications to improve the customer loyalty and have an overall reduced infrastructure cost. However, the Small and Medium-sized Enterprises (SMEs) segment is expected to grow at a higher CAGR, owing to the easy availability and scalability of cloud-based deployments.

The global behavioral biometrics market by region covers 5 major geographic regions: North America, Asia Pacific (APAC), Europe, the Middle East and Africa (MEA), and Latin America. North America is estimated to hold the largest market size in 2018. It is the most advanced region in terms technology adoption and IT infrastructure. The wide presence of the key industry players of the behavioral biometrics software, and the largest payment industry are major driving factors for the behavioral biometrics market in North America. APAC, on the other hand, is expected to grow at the highest rate during the forecast period, owing to the increase in the overall investments in the behavioral biometrics software to change the business processes in the finance industry.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Behavioral Biometrics Market
4.2 Market By Component
4.3 Market By Application
4.4 Market By Organization Size
4.5 Market By Deployment Model
4.6 Market By Vertical
4.7 Market By Region

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Global Rise in Online Transactions and Fraudulent Activities
5.2.1.2 Rising Need for A Multi-Layered Security Approach in the Finance Vertical
5.2.2 Restraints
5.2.2.1 Low Cybersecurity Budget and High Installation Cost of the Behavioral Biometrics Software
5.2.3 Opportunities
5.2.3.1 Enhanced Security as Compared to Static Biometrics
5.2.3.2 Higher Compatibility With Emerging AI Technologies
5.2.4 Challenges
5.2.4.1 Lack of Competent Behavioral Biometrics Experts
5.3 Examples of Behavioral Biometrics-Related Technologies
5.3.1 Using Ai-Enabled Technologies Such as Machine Learning and Deep Learning to Comply With Regulations and Compliances
5.3.2 Aiops for Change-Tolerant Algorithms
5.3.3 AI for Analyzing Users' Behavior Data
5.4 Types of Behavioral Biometrics
5.4.1 Signature Dynamics Analysis
5.4.2 Voice
5.4.3 Keystroke Dynamics
5.4.4 Gait
5.4.5 Gestures
5.5 Regulatory Implications
5.5.1 Introduction
5.5.2 General Data Protection Regulation (GDPR)
5.5.3 Sarbanes-Oxley Act of 2002 (SOX)
5.5.4 Basel
5.5.5 Governance, Risk, and Compliance (GRC) Standards
5.5.6 Eu Data Protection Regulation
5.5.7 Health Information Technology for Economic and Clinical Health (Hitech)
5.5.8 Health Insurance Portability and Accountability Act (HIPAA)

6 Behavioral Biometrics Market, By Component
6.1 Introduction
6.2 Software
6.3 Services
6.3.1 Managed Services
6.3.2 Professional Services
6.3.2.1 Support and Maintenance
6.3.2.2 Consulting

7 Behavioral Biometrics Market, By Application
7.1 Introduction
7.2 Identity and Access Management
7.3 Fraud Detection and Prevention Management
7.4 Risk and Compliance Management

8 Market By Organization Size
8.1 Introduction
8.2 Small and Medium-Sized Enterprises
8.3 Large Enterprises

9 Behavioral Biometrics Market, By Deployment Model
9.1 Introduction
9.2 On-Premises
9.3 Cloud

10 Market By Vertical
10.1 Introduction
10.2 Banking, Financial Services, and Insurance
10.3 Retail and Ecommerce
10.4 Healthcare
10.5 Government and Defense
10.6 Telecommunications
10.7 Others

11 Behavioral Biometrics Market, By Region

12 Competitive Landscape
12.1 Overview
12.2 Competitive Scenario
12.2.1 New Product Launches and Product Upgradations
12.2.2 Partnerships and Collaborations
12.2.3 Acquisitions
12.2.4 Business Expansions
12.3 Behavioral Biometrics Market: Prominent Players

13 Company Profiles

• BioCatch
• IBM
• Nuance Communications
• SecureAuth
• Mastercard
• BehavioSec
• ThreatMark
• Plurilock
• One Identity
• FST Biometrics
• UnifyId
• AimBrain
• Zighra
• AuthenWare
• XTN
• Sentegrity
• TypingDNA
• NoPassword
• ID Finance
• Nethone
• Pinn Technologies
• EZMCOM
• Securedtouch
• Unbotify
• Callsign

For more information about this report visit https://www.researchandmarkets.com/research/m833qx/2_5_bn?w=5

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