As per Fact.MR, a market research and competitive intelligence provider, the global market for behavioural biometrics is anticipated to top US$ 9 Bn by 2031, surging at a CAGR of 20% over the next ten years. Behavioural biometrics is a technology that analyzes measurable patterns in human activities. These patterns include mouse activity, keystroke movement, and device movement. Behavioural biometrics identifies interactive gestures such as how individuals type on a keyboard, how they use the mouse, how they move the device, and how they touch the screen.
Physical biometrics involves fingerprints or iris patterns, whereas, behavioural biometrics continuously evaluates a user’s ongoing interaction with their devices. Behavioural biometrics discriminates between a legitimate user and a cybercriminal by identifying unique patterns in human activities. Financial institutions, businesses, and government facilities are using behavioural biometrics for payments, online banking, and secure authentication. The behavioural biometrics market is expected to accelerate rapidly as products and services are moving into advanced digital security beyond simple passwords and pin codes.
Wide acceptance of behavioural biometrics for fraud prevention and detection in financial services, consumer applications, and government applications is set to drive market growth at a fast pace over the coming years.
Global behavioural biometrics market to top US$ 9 Bn by 2031.
Behavioural biometrics software projected to reach around US$ 5 Bn valuation by 2031.
Behavioural biometrics services projected to record above 15% CAGR over next 10 years.
Market in North America holds share of more than 40%.
Market in South Korea expected to reach valuation of US$ 1.1 Bn by 2031.
Market in Australia to record 14% CAGR over forecast period of 2021- 2031.
“Increasing adoption of Internet of Things and cloud computing by organizations is expected to create further opportunities for providers of behavioural biometrics over the coming years,” according to a Fact.MR analyst.
The market is moderately competitive, consisting of players strategically focusing on innovation and new solution launches.
In June 2020, U.S.-based identity security independent software vendor (ISV) SecureAuth signed a distribution agreement with Arrow Electronics for Australia and New Zealand.
Major vendors providing behavioural biometric software and services are continuously focusing on research & development for increasing their share in the global market.
In February 2019, Plurilock Security Solutions Inc. introduced its new product ADAPT MFA, to provide next-generation multi-factor authentication for enterprise environments.
In February 2020, BioCatch, a global leader in behavioural biometrics, acquired Aimbrain, to enhance fraud detection, delivering seamless and secure digital experience to organizations and users.
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