To maintain smooth operations as workers continue to work from home, ICT businesses are widely utilising technologies like cloud computing and artificial intelligence. Growth will be stimulated by a focus on quick automation and the utilisation of real-time operation in a variety of end-use industries, including the automotive, food & beverage, and others. Behavioural biometric software industry insights that can be put to use are included in the report. The most recent research from Fact.MR includes historical market data and industry forecasting along with information on the market’s current state in several countries. The research also provides data on the market for behavioural biometric software sales and demand in various sectors and geographical areas.
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The market study conducted by Fact.MR provides unique information regarding the market’s future growth. The research reveals significant trends that are influencing the market for behavioural biometric software. This recently released study clarifies crucial trends, such as the market’s drivers, constraints, and possibilities for established businesses as well as up-and-coming competitors involved in supply and manufacturing. The most recent study from Fact.MR offers a thorough analysis of the behavioural biometric software market.
The market insights for behavioural biometric software, important trends, and their effects on the entire value chain from suppliers to end users are all covered in this just released, comprehensive study.
Behavioural biometrics are being used by enterprises, government agencies, and financial institutions for secure authentication, online payments, and online banking. As more and more products and services go beyond basic passwords and pin codes to provide enhanced digital security, the behavioural biometrics market is predicted to grow quickly.
In the upcoming years, the market is expected to rise quickly due to the widespread adoption of behavioural biometrics for fraud prevention and detection in financial services, consumer applications, and government applications.
Key Takeaways from Market Study
- The market for behavioural biometrics will reach US$ 9 billion by 2031.
- Software for behavioural biometrics is expected to be valued at $5 billion by 2031.
- Over the next 10 years, behavioural biometrics services are expected to grow at a rate above 15% CAGR.
- More than 40% of the market is in North America.
- By 2031, it is anticipated that the South Korean market will be worth US$ 1.1 billion.
- Australia’s market is expected to grow at a 14% CAGR from 2021 to 2031.
Behavioural Biometric Software Industry Report Scope
Key Segments Covered in Behavioural Biometric Software Industry Research
- Component
- Behavioural Biometric Software
- Behavioural Biometric Services
- Behavioural Biometric Managed Services
- Behavioural Biometric Professional Services
- Deployment Model
- On-premise Behavioural Biometric Software Solutions
- Cloud-based Behavioural Biometric Software Solutions
- Enterprise Size
- Behavioural Biometric Software for Small & Medium Enterprises
- Behavioural Biometric Software for Large Enterprises
- Type
- Keystroke Dynamics
- Gait Analysis
- Signature Analysis
- Voice Recognition
- Application
- Application of Behavioural Biometric Software in Identity & Access Management
- Application of Behavioural Biometric Software in Risk & Compliance Management
- Application of Behavioural Biometric Software in Fraud Detection & Prevention Management
- Application of Behavioural Biometric Software in Identity Proofing
- Application of Behavioural Biometric Software in Continuous Authentication
- Single Factor Behavioural Biometric Authentication
- Multi-Factor Behavioural Biometric Authentication
- Industry Vertical
- Use of Behavioural Biometric Software in BFSI Sector
- Use of Behavioural Biometric Software in Retail & e-Commerce Sector
- Use of Behavioural Biometric Software in Healthcare Sector
- Use of Behavioural Biometric Software in Government & Defense Sector
- Use of Behavioural Biometric Software in IT & Telecom Sector
Market Competition
The market is moderately competitive, with participants strategically emphasising innovation and the introduction of new solutions.
- 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 providers of behavioural biometric software and services consistently prioritise R&D in order to grow their market share globally.
- 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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