Research Report on Behavioral Biometrics Market: COVID-19 Impact Analysis

Behavioural biometrics is the study of identifying unique and measurable features of human activities such as their voice, movements, the way they walk, and other signature patterns. However, simple biometric systems will convert into behavioural biometric authentication systems in the coming years. A multi-layered security approach’s unmet requirement is expected to boost behavioural biometrics demand in the foreseeable future. While physical biometric authentication is extensively adopted, it poses the challenge of the integrity of post-capture sessions. However, behaviour biometrics allows a way to ensure continuous monitoring. This is assumed to propel the growth of the global behavioural biometrics market in the forthcoming years.

Market Drivers, Restraints and Opportunities 

The increasing number of transactions and digital leads to a surge in demand for secured communication. However, the burgeoning internet of things (IoT) landscape looks promising over the upcoming years and is likely to boost the global behavioral biometrics market’s growth in the forthcoming years. The increasing demand for efficiency in digital transactions, which are now mostly cashless, is propelled by the growing e-commerce industry and smartphone penetration. Apart from that, with more and more fraudulent activities coming to light, the global behavioral biometrics market will likely see immense potential for growth in the coming years.

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The surge in the Internet of Things-based devices is further leading to the risk of data and identity theft. Having a password or physical biometric could make devices and assets highly susceptible. However, it is another major key factor propelling the global behavior biometrics market. However, the adoption of cloud computing by organizations is further driving the need for behavioral biometrics. However, recently, Plurilock introduced a behavioral biometric cybersecurity program in the form of a cloud-based solution. The emergence of such novel products is expected to garner demand in the global behavior biometrics market in the future years.

Global Behavioral Biometrics Market Segment Insights

The Global Behavioral Biometrics Market has been segmented into component, type, application, deployment, enterprise size, and end-use. Based on component Global Behavioral Biometrics Market has been segmented into – Software, Service (Managed Services, Professional Services). Based on type, it has been bifurcated as Keystroke Dynamics, Gait Analysis, Signature Analysis, and Voice Recognition.

Based on application, it has been classified into Identity Proofing, Continuous Authentication, Risk & Compliance Management, and Fraud Detection & Prevention. On the basis of deployment, it has been segmented into Cloud, On-premise. Based on enterprise-sized, it has been segmented into Large Enterprises, Small & Medium Enterprises. On the basis of end-use it has been segmented into BFSI, Retail & E-commerce, Healthcare, Government & Defense, IT & Telecom, Others.

Global Behavioral Biometrics Market Region Insights

Based on the region, the global behavior biometrics market is expected to be dominated by the North America region. However, this can be ascribed to the high uptake of technologically advanced IT infrastructure in countries in the region. This is assumed to boost the behavioral biometrics market over the coming years. 

Moreover, the regional market benefits from governmental funding and interest in security sectors. Apart from that, the government in the region is known to aggressively fund research and start-ups in the field of behavioral biometrics.

COVID-19 Impact On Global Behavioral Biometrics Market

The COVID-19 pandemic is assumed to have a negative impact on the global behavioral biometrics technology market on numerous fronts. The pandemic has forced various companies to halt manufacturing operations to obey new government regulations temporarily. Revenue streams have been affected the most due to the adverse impact of the disruption of supply chains and trade on overall operations. However, the pandemic has augmented the demand for secure, hygienic, and appropriate authentication systems worldwide. The extremely infectious nature of COVID-19 pandemic has made people cautious of card readers, touching keypads, and other devices for precise identity authentication.

Market Share Insights

Vendors in the global biometrics market are viewed, focusing on integrating technological innovations in their product portfolio. However, funding, research and development, and collaborations are expected to be key strategies utilized by vendors to gain traction in the market. Below mentioned is the list of several companies engaged in the global Behavioral Biometrics market.

Some of the major key players in the Global Behavioral Biometrics Market include BioCatch, BehavioSec Inc., Fair Isaac Corporation, Nuance Communications, Inc., SecureAuth Corporation, Mastercard Incorporated, Plurilock Security Solutions Inc., UnifyID, SecuredTouch Inc., Zighra.

Ending Note:

The global Behavioral Biometrics market research presents detailed information regarding several insights into the industry. Some of them are growth drivers, restraints, regional analysis, competitive landscape, and challenges. The information gathered in the article has been taken from some primary and secondary sources. 

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