The use of biometrics across various industries is majorly due to a higher demand of enhanced safety and security of the personnel. Among the changing paradigm of the consumer as well as enterprise market, a significantly higher demand of biometrics from the consumer goods segment such as from smartphones, laptops, and tablets is majorly impacting the growth of the biometric industry. Another factor driving the growth of this market is the use of biometric in anti-money laundering coupled with an increased use of biometrics in the era of blockchain. This is majorly due to the increasing thefts, and cyber-crimes leading to privacy concerns and a huge risk of data breaches.
In 2018, the government sector is estimated to be the largest market with banking and financial institutions following the lead in the global biometric authentication and identification market. The ever-increasing demand for securing the identity of any individual and identifying the individual for any crimes has led to a surge in demand of biometrics in government application. The reason for such large market penetration of biometric systems is the huge deployment in law enforcement, homeland security, border security, and forensic department, among others. To curb the issues such as illegal immigration, any user ID issue, and thefts, have largely led to the adoption of biometric systems in this application sector. Biometrics has helped the government sector to fight against these crimes in a more sustainable manner. Another growing application sector is the banking and financial institutions which is increasingly using the biometric systems for the user identification. Moreover, factors, such as the advancement in smartphone technology, growing importance of connectivity and safety, and online banking, have significantly transformed the banking and financial sector. Every user is almost connected to the internet everywhere, and this has led to ease in the banking process for the bank as well as consumer.
The latent fingerprinting spoofing, coupled with the risk of data breaches and privacy concern, is one of the pressing matters to be looked upon in the current scenario. Since biometric technology uses human behavior pattern as a parameter, it has proved its superiority over traditional and conventional recognition methods by keeping the data secure and encrypted. However, damage to the biometric trait, such as distorted, smudged, or hampered fingerprint can create difficulty in analyzing the identity of any individual. If the biometric data provided is secure and encrypted, the benefits of biometric authentication and identity can be utilized to its fullest. However, information security incidents where hackers reach the repository of biometric data are additional potential threats to the biometric market.
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The global biometric authentication and identification market has been categorized into several modalities, namely fingerprint, facial, eye, vein, palmprint, voice, handwritten/signature, and others. The wide availability of such unique characteristics and more reliability, which the physical and behavioral characteristics offer, has helped in the user authentication and identification market to expand at a reasonably high rate.
The global biometric authentication and identification market has been categorized into six key application areas, i.e. government, banking and financial institutions, enterprise, healthcare, commercial, and others. Owing to the increasing crime rate and fraudulent access to high security areas, the use of biometrics in various forms of authentication systems is rapidly gaining momentum. Market areas, such as criminal investigation (forensics), banks, and penitentiaries, among others, have benefited the most with the emergence of biometric technology in access control systems. The modern-day biometric solution eliminates the need for managing access through keys and locks and presents the users with option of automating the authentication and various access control features.
According to the new market research report by IndustryARC titled “Behavioral Biometrics Market: By Type (Active, Passive); By Level of Authentication; By Deployment Mode; By Application (Fraud Detection and Prevention, Continuous Authentication, Others); By End User (Banking, Enterprise, Government and Law Enforcement, Others) & Geography – Forecast(2018 - 2023),” the market will be driven by increasing sale of smartphones with built-in finger print sensors.To access the full report, click the link below:https://industryarc.com/Report/9596/behavioral-biometrics-market-research-report.htmlBiometric authentication has become a unique technology used to prove an individual’s identity.
Asian countries have started adopting the biometric technology in screening security systems at all the border checkpoints, through facial detection systems.
Increasing adoption in e-commerce, tablets, mobile phones, and cloud computingare expected to generate a high demand in the biometric technology.Key Players of the BehavioralBiometric Market:Prominent players in market include Biometric Signature ID, BehavioSec, HYPR Corp., AnchorID, B-Secure and Laforge Optical.
BehavioSec develops non-invasive biometric authentication methods, its ability is to prevent fraudulent activity.
The team is working on enabling defensive systems to recover from a security breach in real-time situation.Related Reports:A.
Behavioral Biometrics Market – By Level of Authentication1.
