The Asia Pacific Behavioral Biometrics Market would witness market growth of 25.4% CAGR during the forecast period (2020-2026). The advent of technologies like Artificial Intelligence (AI) & machine learning (MI), and the increasing adoption of these technologies in authentication and identification application, could offer a potential growth opportunity for players of the market. Developers are progressively started adopting AI and machine learning in behavioral biometrics in order to develop identification, authentication, and verification products for improved security. AI-driven behavioral biometrics are mostly used for the prevention of account takeover fraud across financial institutions. Progresses in the field of AI are assisting substantial improvements in the abilities of AI-driven behavioral biometrics, the rising adoption of which is anticipated to advance identification and authentication approaches.
Though, data privacy is the main concern for the adoption of new technologies, including behavioral biometrics. The assortment and storage of personal information by using these technologies, like voice recognition, face recognition, and signature, may be regarded as an incursion of privacy by some. Moreover, voice recognition in behavioral biometrics needs high-quality recording and it became difficult to validate the users on the basis of background noise. These factors are expected to impede market growth over the foreseeable period.
The main growth drivers of the market comprise an increase in online transactions and online fraudulent activities in the world and a growing necessity for multi-layered security methods in the finance industry. The major opportunities for the growth of the market include improved security as compared to static biometrics, and advanced compatibility with evolving AI technologies. Apart from all these major applications like identity & access management, and detection of fraud & prevention management, risk & compliance management is expected to drive the growth of the behavioral biometrics market.
Based on Component, the market is segmented into Software and Services. Based on Application, the market is segmented into Identity & Access Management, Risk & Compliance Management and Fraud Detection & Prevention. Based on Type, the market is segmented into Voice Recognition, Signature Analysis, Keystroke Dynamics and Others. Based on Deployment Type, the market is segmented into On-premise and Hosted. Based on End User, the market is segmented into BFSI, Telecom & IT, Healthcare, Retail & E-commerce, Government & Defense and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: Behavioral Biometrics Market in Asia Pacific is expected to register a CAGR of 25.4% during the forecast period (2020-2026)
The market research report covers theanalysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Samsung Electronics Co., Ltd. (Samsung Group), NEC Corporation, Nuance Communications, Inc., Fair Isaac Corporation (FICO) (EZMCOM, Inc.), Mastercard, Inc. (NuData Security, Inc.), BioCatch Ltd., BehavioSec, Inc., Plurilock Security Solutions, Inc. and SecuredTouch, Inc.
Market Segmentation:
By Component
By Application
By Type
By Deployment Type
By End-User
By Country
Companies Profiled
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