Behavioral biometrics solution is used for the purpose of identification by examining activities of its users such as keystroke dynamics, signature verification, voice recognition, gesture recognition, and others. In this system, a biometrics system verifies a user’s behavior against its profile built from a large number of physiological, cognitive, and contextual traits. This technology is anticipated to enhance data security among different end users, which will create lucrative opportunities for market expansion in the coming future. The global behavioral biometrics market size was valued at $720.50 million in 2017, and the behavioral biometrics market forecast is projected to reach $3,922.42 million by 2025, registering a CAGR of 23.71% from 2018 to 2025.

The voice recognition segment dominated the overall market in 2017, owing to significant adoption of voice biometrics solutions among users. Moreover, alarming need for foolproof security techniques for technology-driven systems has supplemented the growth of the segment. In addition, rise in popularity of voice assistants, such as Alexa and Google Assistant, as well as high degree of accuracy offered by these solutions have been playing a significant role in the market growth. However, the gait analysis segment is expected to exhibit the highest growth rate during the forecast period, owing to rise in investments in this technology.

The BFSI segment dominated the global market in 2017, owing to significant adoption of behavioral biometrics solutions for anti-fraud purposes. However, the healthcare segment is expected to grow at the highest rate, due to the ongoing trend of digitalization of healthcare data among institutions, which augments the need for advanced behavioral biometrics solutions.

North America governed the overall behavioral biometrics market share, in terms of revenue, in 2017, owing to significant adoption of behavioral biometrics solutions supported by well-established BFSI industry and high ICT spending among organizations for data security solutions across the region. However, Asia-Pacific is expected to witness the highest growth rate during the forecast period, owing to factors such as rise in security spending among government organizations and development of the smartphones market in the emerging economies such as China, Japan, India, Australia, and South Korea.

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The report focuses on the growth prospects, restraints, and trends of global behavioral biometrics market analysis. Moreover, the study includes the Porter’s five forces analysis of the industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the growth of the market.
Top impacting factors

The growth of the global behavioral biometrics market is driven by rise in number of online transactions, development of IoT landscape, and surge in need for enhanced security systems. Furthermore, performance issues associated with behavioral biometrics solutions and lack of cyber security budget are expected to considerably impact the behavioral biometrics market growth during the forecast period. Moreover, the emergence of artificial intelligence in behavioral biometrics and expansion of the cloud-based solutions market are expected to affect the growth of the global behavioral biometrics market during the forecast period. These factors collectively provide opportunities for the market growth.However, each factor has its definite impact on the market.

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