Research: the global market for behavioural biometrics is anticipated to top US$ 9 Bn by 2031

Staff FintechNews

Behavioral biometrics is a technology that analyzes measurable patterns in human activities. These patterns include mouse activity, keystroke movement, and device movement. Behavioral biometrics identifies interactive gestures such as how individuals type on a keyboard, how they use the mouse, how they move the device, and how they touch the screen.

Physical biometrics involves fingerprints or iris patterns, whereas, behavioral biometrics continuously evaluates a user’s ongoing interaction with their devices. Behavioral biometrics discriminates between a legitimate user and a cybercriminal by identifying unique patterns in human activities.

Financial institutions, businesses, and government facilities are using behavioral biometrics for payments, online banking, and secure authentication. The behavioral biometrics market is expected to accelerate rapidly as products and services are moving into advanced digital security beyond simple passwords and pin codes.

Wide acceptance of behavioral biometrics for fraud prevention and detection in financial services, consumer applications, and government applications is set to drive market growth at a fast pace over the coming years.  Behavioral biometrics software projected to reach around US$ 5 Bn valuation by 2031.

“Increasing adoption of Internet of Things and cloud computing by organizations is expected to create further opportunities for providers of behavioural biometrics over the coming years,” according to a Senior Research Analyst.

These insights are based on a report on Behavioural Biometrics Market by Fact.MR.

Source: https://www.fintechnews.org/research-the-global-market-for-behavioural-biometrics-is-anticipated-to-top-us-9-bn-by-2031/