Behavioural Biometrics Market Size Forecast to Reach $4.8 Billion by 2026

• Fingerprint biometric systems have witnessed a wide range of acceptance in various applications. Increasing adoption in e-commerce, tablets, mobile phones, and cloud computing are expected to generate high demand in biometric technology.
• The face detection biometric technology is expected to grow rapidly due to its high adoption in retail, security and consumer electronics. Software for face recognition technology in mobile apps, such as digiKam, and Lightroom are have increased the demand in smartphone applications and social networking platforms.
• The rise of e-commerce and online presences in an increasingly digital world will propel the market growth as improved security and safety will be a major challenge that can be alleviated with behavioural biometrics

Behavioural Biometrics Market Segment Analysis – By Techniques

Voice recognition is the leading segment in the present market with a share of 22.5% in 2020. This is actually a relatively new form of authentication, particularly voice recognition in mobile banking. This creates a growing demand for multifactor authentication in enterprises as the ability to use technology remotely, and quite reasonable price is factor behind the growing market. Multi-factor biometric technology is used under e-commerce and cloud computing and has created plenty of opportunities for prominent players. Although this multi-factor authentication is not simple and convenient, the improved security offered will see this segment witness significant growth.

Behavioural biometrics is extensively being employed by online banking, e-commerce, payments, and high-security authentication markets. Behavioural biometrics recognizes individuals by assessing everything, from the manner a user grips the phone and swipes the screen, to the keyboard or gestural shortcuts they use. Software algorithms build a unique user profile, which is employed to confirm the individual’s distinctiveness on the following interactions. BFSI (banking, financial services and insurance) is the fastest-growing end-use vertical in the global Behavioural biometrics market and is projected to register a CAGR of 17.2% through 2026. With the majority of financial assessments dipping into digitalization, compromising of authentication-data and credentials have become ubiquitous. Consequently, the BFSI sector is evading traditional PIN/Password and static biometric security gadgets and transitioning towards Behavioural biometrics, as it notes the actions of clients to recognize malicious actors and safeguards the BFSI organizations’ network infrastructure from hackers trying to fetch personally identifiable information (PII) of users.

North America is the leading market and estimated to account for more than 40% in the base year, 2020. The increased use of behavioural biometric devices in government establishments, hospitals, and ATMs in this region is foreseen to raise the growth of the market in the predicted period. The significant adoption in BFSI in particular will drive market adoption. Asia-Pacific is among the growing markets for biometric technology. Asian countries have started adopting biometric technology in screening security systems at all the border checkpoints, through facial detection systems. This will raise awareness of various behavioural biometrics solutions and the rising digital security requirements will propel their adoption.

New Technology Adoption Driving Market Growth

Rising need for Digital Security.

Behavioural Biometrics Market Challenges

High Installation Cost

Behavioural Biometrics Market Landscape

Acquisitions/Technology Launches/Partnerships