Report predicts behavioral biometrics market to grow by more than 17 percent CAGR through 2023
The global market for behavioral biometrics will grow by 17.34 percent CAGR between 2018 and 2023, driven by increasing availability of biometrics on smartphones, according to the latest report from IndustryARC.
The report, “Behavioral Biometrics Market: By Type (Active, Passive); By Level of Authentication; By Deployment Mode; By Application (Fraud Detection and Prevention, Continuous Authentication, Others); By End User (Banking, Enterprise, Government and Law Enforcement, Others) & Geography – Forecast (2018 – 2023),” says voice recognition is currently the leading segment in the market.
The behavioral biometric market in North America is expected to lead all regions, with 40 percent of the market share over the forecast period, but the market is also expected to grow in the Asia-Pacific region.
Prominent industry players identified in the report include Biometric Signature ID, BehavioSec, HYPR Corp., AnchorID and B-Secur. The report examines the market for behavioral biometrics according to type, which includes signature and keystroke dynamics as active methods, and gait, voice, eye tracking, and gesture recognition as passive methods. It also considers the single and multi-factor levels of authentication, and cloud-based and on-premise delivery methods. Applications identified include continuous authentication, risk-based authentication, insider threat detection, fraud detection and prevention, and others. Different end users are reviewed, along with different factors influencing the market’s development.
BehavioSec recently argued for behavioral biometrics as “the last line of defense” against SIM swap attacks, while both BehavioSec and BioCatch have pitched the modality as an ideal second-factor to meet PSD2 authentication requirements.