This industry research report covers the growth prospects of the global behavioral biometrics market with segmentations based on technologies (voice recognition, keystroke analysis, and signature analysis), end users (government, BFSI, automotive, healthcare, and education), and regions (North America, APAC, Europe, Latin America, and MEA). The key players in this market are AGNITiO, AuthenWare, ID Control, M2SYS Technology, Nuance Communications, and Safran.
Technavio has released updated information on the biometrics market, with the publication of its new market research report, global behavioral biometrics market. The global behavioral biometrics market is expected to grow at a CAGR of 17% between 2016 and 2020. The recent rise in the demand for behavioral biometric technologies, such as keystroke recognition, signature recognition, and voice recognition, from the BFSI sector, is a significant factor that drives market growth during the forecast period. North America accounts for 40% of the total market share, owing to the augmented use of behavioral biometrics by government organizations, hospitals, and ATMs in this region.
“Signature-based verification is gaining prominence with increasing demand for mobile devices such as smartphones, laptops, and tablets. It helps in mitigation of data theft, and increases the security for financial transactions. It provides end-users with a security token to access their banking and payment apps instead of remembering passwords. Signature verification on smartphones has a wide range of applications such as validation of online payments, e-government applications, access to bank account and personal records, and client validation that receives a service or a delivery as a substitute for passwords and handwritten signatures on printed documents,” says Amrita Chaudury, Lead Analyst, ICT, Technavio Research.
Voice recognition segment is the largest market segment in the behavioural biometrics market. The ability of voice recognition systems to eliminate the need to have a multitude of complicated passwords to get access to secured transactions and systems is a significant factor that results in this segment’s profound market share of more than 80% by 2020.
The key vendors in the global behavioral biometric market include AGNITiO, AuthenWare, ID Control, M2SYS Technology, Nuance Communications, and Safran. The global market for behavioral biometric solutions is dynamic and consists of numerous large and small players. In this market, the large vendors continually strive to form partnerships with smaller players as it helps them to augment their revenue generating capacity. Factors like intense competition, advances in technology, and frequent changes in end-user preferences are expected to inhibit vendor growth during the estimated period.
A more detailed analysis is available in the Technavio report, Global Behavioral Biometric Market 2016-2020.
We can customize this reports by other regions and specific segments upon request.
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