What are the Projected Market Size and Growth for the Global Behavioral Biometrics Market?
According to recent data, the behavioral biometrics market size is accelerating at an unprecedented rate. It is projected to grow from $2.4 billion in 2024 to $2.92 billion in 2025, representing a compound annual growth rate (CAGR) of 21.9%. Several factors have sparked this growth in the historic period, including the rising adoption of behavioral biometrics in mobile devices, growing fears over data breaches and identity theft, increasing demand for continuous authentication, and the rise in behavioral biometrics in enterprise applications.
The behavioral biometrics market size is predicted to increase even more rapidly in the coming years, surging to $6.99 billion in 2029 at a CAGR of 24.4%. This impressive growth in the forecast period is being driven by factors such as the growing adoption of behavioral biometrics in emerging markets, increasing demand for continuous authentication, enhanced adoption of behavioral biometrics in new applications, and rising government mandates for behavioral biometrics. Major trends expected during the forecast period include advancements in artificial intelligence and machine learning, continuous authentication, multi-modal biometrics, and IoT security.
Enjoy a free sample of the global behavioral biometrics market report from The Business Research Company: https://www.thebusinessresearchcompany.com/sample.aspx?id=8760&type=smp
What are the Key Growth Drivers of the Behavioral Biometrics Market?
Data breaches, unauthorized hacking of sensitive information leading to security violations and theft of sensitive information from computer systems, are becoming increasingly commonplace. These breaches are driving the adoption of behavioral biometrics, which are used to prevent unauthorized access to the company’s employee’s database by analyzing behavioral patterns. For example, in November 2023, the Australian Cyber Security Centre reported receiving over 94,000 cybercrime reports during the financial year 2022-2023, marking a 23% increase from the previous year. As cyber security concerns rise and data breaches become more common, the behavioral biometrics market is expected to surge.
What are the Major Segments Within the Behavioral Biometrics Market?
1) By Components: Software, Services
2) By Type: Keystroke Dynamics, Gait Analysis, Signature Analysis, Voice Recognition
3) By Deployment Model: Cloud, On-Premise
4) By Application: Identity Proofing, Continuous Authentication, Risk and Compliance Management, Fraud Detection and Prevention
5) By Verticals: Banking, Financial Services and Insurance (BFSI), Retail, eCommerce, Healthcare, Government and Defence, Telecommunications, Other Verticals
To delve deeper into the insights of this expanding market, secure your report now: https://www.thebusinessresearchcompany.com/report/behavioral-biometrics-global-market-report
What Major Companies are Making Strides in the Behavioral Biometrics Market?
Leading companies operating in the global behavioral biometrics market include BioCatch Ltd., Microsoft Corporation, NuData Security Inc., LexisNexis Corporation, Ping Identity Holding Corporation, Fair Isaac and Company, Prove Identity Inc., ThreatMark sro, Plurilock Security Solutions Inc., Callsign Technologies LLC, SecureAuth Corporation, and others.
Which Emerging Trends Are Shaping the Behavioral Biometrics Market?
Strategic partnerships are being embraced by significant players in the behavioral biometrics market to bolster their product offerings. For instance, in October 2022, BioCatch partnered with Indue, an Australian financial products company. This collaboration allows a broader range of financial institutions, retailers, and non-profit organizations within Indue’s network to utilize BioCatch’s technology for enhanced protection against fraud attacks and cybercrime.
How Does the Behavioral Biometrics Market Performance Vary Across Regions?
In 2024, North America held the largest share of the global behavioral biometrics market. However, Asia-Pacific is projected to be the fastest-growing region during the forecast period. The report covers behavioral biometrics market analysis across various geographies including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What does the Behavioral Biometrics Market Report 2025 offer?
The behavioral biometrics field focuses on measuring and uniquely recognizing trends in human behavior. It enables distinction between lawful consumer behavior and cybercriminals by analyzing a user’s digital, physical, and cognitive behavior. The Behavioral Biometrics Market research report from The Business Research Company offers insights into the global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
For in-depth insights, purchase the full report here: https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=8760
About The Business Research Company
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Powered by over 1,500,000 datasets, we provide unique insights from industry leaders and in-depth secondary research, equipping you with the information you need to stay ahead. Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
