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BehavioSec upgrades behavioral biometrics platform enrollment speed, useability

Report forecasts $3.9B global market by 2027
 

digital identity KYC security

BehavioSec has built new authentication and fraud detection capabilities into the latest version of its BehavioSense behavioral biometrics platform for stronger security and improved useability, as the market continues to heat up. Behavioral biometrics will be a $3.9 million global market by 2027, up from $1 billion in 2020 for a 20.8 percent CAGR, according to the latest market research.

The update includes accelerated profile training for up to five-times faster biometric enrollment with automated future behavior prediction and a newly-developed behavioral ‘inheritance’ technique. It also provides doppelgänger detection, by examining data across multiple sessions and accounts to identify duplication and identify new fraud patterns, as well as improved mobile fraud detection and predictive modeling.

Several usability and biometric performance enhancements have been made to the BehavioSense dashboard and other areas of the platform, with server calls and database response execution reduced by more than three times, according to the announcement.

“Our newest features respond to customer feedback and frankly, market demands,” said Jordan Blake, VP Products at BehavioSec. “These features add to our platform’s existing anti-fraud capabilities and are designed to solve the COVID-19 era challenge of accelerated digital transformation, online security, and privacy regulation compliance.”

BehavioSec is holding webcasts with CSO on May 25 and with Goode Intelligence on May 26 to discuss Goode’s report on global data privacy regulations.

Services to lead robust market growth

The report ‘Behavioral Biometrics – Global Market Trajectory & Analytics’ from Global Industry Analysts breaks down the market by applications, components and geographies.

The services segment is forecast to grow at a 22.6 percent CAGR, compared to 19.2 percent for software, though software will make up slightly over half of the total market revenue in 2027. The U.S. market was estimated to be worth $311.9 million last year, more than $100 million larger than the Chinese market, but the latter is expected to grow by 20.4 percent to $691 million during the forecast period. Germany is expected to lead Europe’s behavioral biometrics market growth with a 14.6 percent CAGR from 2020 to 2027.

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