London, UK -- (SBWIRE) -- 08/16/2021 -- Global Behavioral biometrics market is valued approximately at USD 0.87 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 24.5% over the forecast period 2020-2027. Behavioral biometrics is a modern type of consumer authentication solution that recognizes people based on how they communicate with computers, such as smartphones, laptops, or mouse-screen-and-keyboard systems. Data compromise is associated with an increasing number of risks. As a result, companies are suffering massive losses, and breaching user accounts has been identified as one of the main triggers of global cyber-attack. Similarly, big malicious attacks were triggered by stolen passwords, according to an IBM study from 2020. Furthermore, in 2020, malware hacks accounted for roughly 19% of all malicious attacks. In addition, the behavioral biometric market is being implemented by the majority of BFSI sectors to improve the protection of their customers' data.

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National Australian Bank (NAB) began using behavioral biometrics for fraud detection in 2019. In addition, Wells Fargo Company is developing a payment solution that would use consumers' voices to authenticate purchases and provide access to facilities. Furthermore, the firm is looking at how it would use artificial intelligence to make it capable of conversational banking, similar to Siri on the iPhone or Alexa on Amazon. However, the Low Cybersecurity Budget and High Installation cost of the Behavioral Biometrics Software may impede market growth over the forecast period of 2020-2027.

Major market players included in this report are:

BioCatch Ltd
Nuance Communications Inc.
SecureAuth Corporation
Mastercard Incorporated (NuData Security)
BehavioSec Inc.
Threat Mark SRO
UnifyID Inc.
Zighra Inc.
Plurilock Security Solutions Inc.
SecuredTouch Inc.

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By Type:
Signature Analysis
Keystroke Dynamics
Voice Recognition
Gait Analysis

By Deployment:
On-premises
On-cloud

By Application:
Identity Proofing
Continuous Authentication
Risk and Compliance
Fraud Detection and Prevention

By end-user:
BFSI
Retail and E-commerce
Healthcare
Government and Public Sector
Other End-user Verticals

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