Market Size of Behavioral Biometrics Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 2.13 Billion |
| Market Size (2029) | USD 7.22 Billion |
| CAGR (2024 - 2029) | 27.64 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Behavioral Biometrics Market Analysis
The Behavioral Biometrics Market size is estimated at USD 2.13 billion in 2024, and is expected to reach USD 7.22 billion by 2029, growing at a CAGR of 27.64% during the forecast period (2024-2029).
With the recent outbreak of the COVID-19 pandemic, organizations across the world must respond proactively to cyber threats that have witnessed a spike during the pandemic. Owing to this, cyber resilience, which refers to a sector or organization's ability to respond to, prepare for, and recover from cyberattacks, has become an absolute necessity rather than an option in the current scenario.
- Behavioral biometrics provides a new generation of user security solutions that identify individuals based on the unique way they interact with computer devices, such as smartphones, tablets, or mouse-screen-and-keyboard.
- By measuring everything from how the user holds the phone or how they swipe the screen, to which keyboard or gestural shortcuts they use, software algorithms build a unique user profile, which can then be used to confirm the user's identity on subsequent interactions.
- Behavioral biometrics does not replace the password or other legacy forms of identity authentication, but it does reduce the burden placed on them to protect sensitive data. Even the strongest password is only secure so long as it is secret. By offering an additional, continuous layer of identity assurance, behavioral biometrics prevents the password from being a single point of security failure.
- A growing number of threats are associated with the data compromising. This is resulting in significant loss to organizations, and compromising user credentials being highlighted as one of the major causes of global cyber threat.
- Similarly, according to the IBM report in 2020, major malicious breaches were caused by compromised credentials. Moreover, about 19% of all the malicious breaches were the cause behind malicious attacks in 2020.
