The Europe Behavioral Biometrics Market would witness market growth of 22.5% CAGR during the forecast period (2020-2026). The increasing usage of smartphones on a day-to-day basis for the purpose of entertainment, socializing, and work are continuously increasing the number of mobile applications for the delivery of these services. The successive increase in the usage of mobile applications and the rising exchange of data over the web is also leading to numerous privacy and security concerns. Though, traditional authentication techniques like passwords and unlock patterns prove to be mostly ineffective when it comes to some advanced privacy and security threats. The trend is leading to the increased popularity of more advanced techniques like continuous authentication that is based on behavioral biometrics.
The remarkable increase in the number of online services, like e-Banks, webmail, and e-commerce, which authenticate users by a password and username, is being progressively exploited by identity thieves. The occurrence of an extra security layer shows to be significantly helpful in overcoming probable identity theft. Verification of users on the basis of their activities and dynamics on keystroke offers a greater potential as a supplementary biometric security layer. These factors are anticipated to boost the market over the foreseeable period.
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.
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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: Behavioral Biometrics Market in Europe is expected to register a CAGR of 22.5% 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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