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The global behavioral biometric market is expected to grow at a compound annual growth with CAGR of 17.34% between 2016 and 2020

Published By : IndustryARC | Published On : 2018-09-25
Behavioral biometrics is the study of measuring the unique identification and patterns in human traits. Data security became the main concern for government organization, enterprise, and individuals. Keys, badges and numeric keypads, these are the most popular devices that prevent the unauthorized access to sensitive data and assets. Current identification methods failed to differentiate between valid and fraud transactions. The demand is rising for behavioral biometric technologies, such as voice authentication, signature recognition and keystroke recognition can be seen mostly in banking, financial service and insurance sector. With demand, risk is also increasing in same proportion, which can be major challenge for behavioral biometrics market growth. 

Browse 82 Market Tables, 179 Figures spread through 150 slides and an in-depth TOC on “Behavioral Biometrics Market (2018 - 2023)

High false positives such as incorrect acceptance of a biometric sample, regulatory compliance and user friction compliance, are the challenges faced by behavioral biometrics in BFSI, government organizations and enterprises. False positives is the major problem for every industry, in case of payments, it needs to minimize the risk of fraud.  Strict security measures will end up false positives. After minimizing the challenges, behavioral biometrics are being implemented in many sectors and organizations.  

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The application possibilities for behavioral biometrics are identification in examinations and workstations, authentication for network access and in e-commerce, online banking, and e-government. In addition behavioral biometrics can also be employed to identify customers and safe guard resources. Signature verification is implemented in government application such as, patent office, foreign trade, driving license and so on. Behavioral biometrics now secures many sectors and industries. Voice recognition in automotive industry to unlock cars, key stroke dynamics in IT industry to verify the rhythm of typing speed and many others. 

Government and private sector has high demand for behavioral biometrics. The applications in smartphones and laptops are making up the new trends. And these authentication technologies in such devices are expected to drive the market growth of behavioral biometrics. 

Behavioral biometrics is good for health. As behavioral biometrics is limiting to access control applications such as identifying patients, hospital personal information, restricting access to specific areas within hospital and so on. This solution will glimpse within upcoming years. NextGate, a cloud based healthcare company will introduce this technology of biometrics. The investment on this technology is not yet predicted.  
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The Asia-Pacific region has the largest market because of its high population, high growth in economics, and demand for biometric solutions to manage large data such as national ID. The demand of implementing the new technologies in Latin America and the Middle East is increasing rapidly, which will occur in banking and financial sectors followed by government, securities and enterprises. Europe will also witness high growth in behavioral biometric technologies due to problems in identification issues. The global market for behavioral biometrics consists of various large and small players. In the market, large players continuously ventures to form partnership with small players as it helps them to expand their revenue generating capacity. The top vendors in the market are AGNITiO, AuthenWare, ID control, SAfran and so on.

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