As per the report, the global behavioral biometrics market garnered $720.5 million in 2017 and is projected to reach $3,922.4 million by 2025, growing at a CAGR of 23.7% from 2018 to 2025.

Surge in the number of online transactions and development of IoT landscape coupled with elevated need for improved security systems fuel the growth of the global behavioral biometrics market.

On the other hand, several performance issues associated with behavioral biometrics solutions and lack of cyber security budget hamper the growth to some extent. Nevertheless, incorporation of artificial intelligence in behavioral biometrics and development of cloud-based solutions are expected to create lucrative opportunities in the near future.

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Based on geography, North America accrued the highest share in 2017, holding more than one-third of the global market. At the same time, the Asia-Pacific region would manifest the fastest CAGR of 26.5% by 2025. Regions across LAMEA and Europe are also discussed in the report.

Among types, the gait analysis segment is projected to grow at the fastest CAGR of 27.5% through the forecast period, owing to in the inflow of investments in this technology and increase in the number of applications.

On the other hand, the voice recognition segment dominated the global market accounting for about two-fifths share of market in 2017. It is anticipated to retain its dominance through 2025 due to significant adoption of voice biometrics solutions among users coupled with growing need for foolproof security techniques for technology-driven systems and high degree of accuracy offered by these solutions. The report also analyzes keystroke dynamics, signature analysis among other types.

Based on components, software segment accounted for nearly three-fourths of the total market share in 2017, and is expected to rule the roost by 2025. The service segment, on the other hand, would register the fastest CAGR of 26.5% during the study period.

The key market players analyzed in the global behavioral biometrics market report include EZMCOM Inc., SecuredTouch Inc., IBM Corporation, NEC Corporation, Nuance Communications, Inc., BehavioSec Inc.,  BioCatch, NuData Security Inc., Plurilock, and Samsung SDS. These market players have taken recourse to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their stand in the industry.

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Related Reports:

1. Biometric Technology Market

2. Biometrics-as-a-Service Market

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