Published Date: 3-Dec-2020
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According to a new report Global Behavioral Biometrics Market, published by KBV research, The Global Behavioral Biometrics Market size is expected to reach $3.4 billion by 2026, rising at a market growth of 23.4% CAGR during the forecast period.
The software segment has led the behavioral biometrics market in the year 2019. The rising demand for safe and reliable digital transactions across the globe, due to the rising penetration of smartphones as well as the e-commerce industry, is leading to the augmented adoption of behavioral biometrics software. The market is segmented into software and service on the basis of the component.
The on-premise segment led the market in the year 2019. This can be accredited to the fact that on-premise behavioral biometrics solutions are easier to incorporate and configure with current online offerings. Also, the on-premise application provides organizations with a higher degree of customization and also acquires lower costs for any additional resources.
The identity proofing segment led the market in the year 2019 and is anticipated to show its dominance in the coming years also. Identity proofing solutions offer different authentication options to users on the basis of their privilege levels. These solutions are also helpful in setting up strategies for authenticating very sensitive applications by evolving fail-safe mechanisms.
North America led the market in the year 2019. The rising demand for data security from behavioral biometrics solutions and the existence of prominent technology providers is expected to boost the market growth in North America. The Asia Pacific is expected to show substantial growth over the foreseeable period. The increasing propagation of mobile payment, as well as real-time payment platforms all across the region, has augmented fraud events that are boosting the demand for behavioral biometrics.
Structural Insights: https://www.kbvresearch.com/behavioral-biometrics-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of IBM Corporation, Samsung Electronics Co., Ltd. (Samsung Group), NEC Corporation, Nuance Communications, Inc., Fair Isaac Corporation (FICO) (EZMCOM, Inc.), Mastercard, Inc. (NuData Security, Inc.), BioCatch Ltd., BehavioSec, Inc., Plurilock Security Solutions, Inc. and SecuredTouch, Inc.
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