From its current value of 1 billion dollars in 2021, the worldwide Europe behavioral biometrics market size was expected to reach a size of 3 billion dollars in the year 2030, expanding at a compound annual growth rate (CAGR) of 26%.
The goal of using a behavioural biometrics solution for identification is to examine the actions of its users, such as keystroke dynamics, signature verification, voice recognition, gesture recognition, and others. Within the context of this system, a biometrics system compares the actions of a user to a profile that was constructed using a wide number of physiological, cognitive, and environmental characteristics. It is projected that this technology would improve data security among a variety of end users, which will generate profitable chances for market development in the future.
The term "behavioural biometrics" refers to a device that can be used in conjunction with security solutions to assist in the identification of individuals based on the manner in which they interact with computer devices such as smartphones, tablets, or any other type of digital device that is able to facilitate the identifying process. A large cost is being incurred by businesses as a direct result of the rise in the number of security risks related with the confidentiality of data. Compromising user credentials has been identified as one of the most significant factors contributing to global cyber threats. The growing need and acceptance of biometric authentication in the financial industry, together with the public's support for biometric authentication, is boosting the demand for such behavioural biometric systems and reaping a staggering income as a result.
Identity thieves are increasingly taking advantage of the astonishing rise in the number of online services, such as e-Banks, webmail, and e-commerce, which authenticate users by requiring them to provide a password and a username. These services authenticate users when they log in. The addition of a further layer of protection demonstrates to be of substantial assistance in the fight against the possibility of identity theft. A additional biometric security layer with higher potential is one that verifies users on the basis of their actions and dynamics on the keyboard. It is projected that these factors would stimulate market growth.
The development of technologies such as artificial intelligence (AI) and machine learning (MI), as well as the growing use of these technologies in authentication and identification applications, may present market participants with an opportunity for prospective growth in the market. The use of artificial intelligence (AI) and machine learning (ML) in behavioural biometrics is becoming increasingly common among developers as they work to create identity, authentication, and verification technologies that offer enhanced safety. The majority of applications for AI-driven behavioural biometrics may be found in the prevention of fraudulent account takeovers in financial institutions. The advancements being made in the field of artificial intelligence are supporting major advances in the capabilities of AI-driven behavioural biometrics. It is predicted that the expanding acceptance of these types of biometrics will enhance identification and authentication methods.
Even in situations in which biometric devices are outfitted with top-of-the-line security systems such as face recognition, thumb imprints, retina scanners, and other technologies of a similar kind, there are still times when the biometric system is compromised in some way. Even if the behavioural biometric system does check for verified access and individuals, there is still a possibility that security may be breached owing to certain technological features. This is the case despite the fact that the system does check for confirmed access and persons. When malicious software is introduced into the biometric system, it causes the system to malfunction during the entirety of the authentication procedure. This leads to false alarms and opens the door for unauthorised access, both of which present a substantial danger to an organization's security. Whenever the subject of such breaches is brought up for discussion, the relevant authorities in the government will surely give the utilisation of these behavioural biometric systems considerable attention out of a concern for the safety of the nation. The only issues that are connected to the use of behavioural biometrics are incursions of this kind, which are unquestionably playing a big role in the evolution of the global market for behavioural biometrics as a whole.
The Europe behavioral biometrics market is divided into two categories: type and deployment. The market is further divided into signature analysis, keystroke dynamics, and voice recognition when split by type. The speech recognition category has a market share of USD 1 billion in 2021 and is predicted to expand at a CAGR of 27% to USD 4 billion by 2030.
Voice recognition, also called as speaker recognition or speech recognition, is a type of biometric mobility that detects sound and grants access for a certain reason. Voice recognition technology is extensively utilised because it assesses complicated physiological components such as the physical size, form, and health of a person's voice cords, lips, teeth, tongue, and mouth cavity while identifying the sound. Additionally, the speech recognition algorithm records behavioural aspects such as the speaker's accent, pitch, tone, talking rate, and emotional state.
Speaker-dependent and speaker-independent voice recognition systems are now in use. Speaker-dependent speech recognition necessitates vocal training since it must match the user's accent and tone before it can recognise what was spoken. This is used to authenticate user identities and identify them. Voice is being used by banks, tax offices, and other businesses to provide clients access to sensitive financial data, which is why this sector is one of the fastest growing.
Signature analysis is the segment's second most important category, with a market value of USD 1 billion in 2021 and a CAGR of 25% predicted to reach USD 3 billion by 2030. One of the most popular methods of determining an individual's identification is through handwritten signature analysis. Other biometric methods, such as face, point, iris, tone, and DNA, are comparable, but in some cases, the hand signature is the most reliable method of identification.
In addition, of all the biometric modalities, signature recognition bears the most implicit in terms of rigidity, security, and perpetuation. Furthermore, in comparison to more complicated modalities like as retinal and point recognition, the expenses associated with the deployment and procurement of this biometric modality are minimal. Identification and verification are the two major scripts in which biometric technologies are used. Identification systems attempt to determine who owns the signature.
The query signature is verified to see if it is real or faked. Signature identification and verification systems are divided into two categories. There are two types of systems: offline (static) and online (dynamic). In offline systems, analogous to bank checks, the signature is recorded or analysed from a document; the algorithm must interpret and prize features from the picture of the hand. At the same time, an individual signs on a digital device using a stylus to register their signature on the internet system.
The third category, keystroke dynamics, amounted for USD 1 billion in 2021 and is predicted to expand at a CAGR of 26% to USD 2 billion by 2030.
The worldwide Europe behavioural biometrics market is further divided into on-premise and on-cloud deployment when it comes to deployment. With a market share of USD 1 billion in 2021, the on-premise category is expected to increase at a CAGR of 24% to USD 5 billion by 2030. Enterprises have put their faith in the biometric system as a reliable security solution.
According to a poll, 92% of respondents said biometrics were an efficient technique to secure on-premise data. According to the same survey, only 28% of businesses utilise biometrics on-premises, and even fewer, 22%, use them for cloud operations. As a result, on-premise is expected to dominate the industry. This is due to the ease with which findings from on-premise behavioural biometrics may be integrated and configured with online immolations.
Similarly, on-premise perpetration allows for a high level of customisation while also incurring reduced expenditures in the event of new coffers. The on-cloud category has a smaller market share than the on-premise segment, with a market value of USD 1 billion in 2021 and a CAGR of 28% expected to reach USD 5 billion by 2030.
The second most important area in Europe had a market worth of 1 billion US dollars in 2021 and is projected to reach 3 billion US dollars by 2030 at a compound annual growth rate of 26% (CAGR).
The German market was the most dominant one in Europe. market share of behavioural biometrics for risk and compliance management, broken down by country
The Voice Recognition industry was the most lucrative in Russia. Market for Behavioural Biometrics.
The on-premises market was the most lucrative in Spain. Behavioural Biometrics Industry Split Down the Middle by Deployment
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends|