Physical Biometrics Market Share, Sales Channels and Overview Till 2032

Shubham Bhande
Published on Aug 07, 2023

The global Physical Biometrics market size was USD 2.52 Billion in 2022 and is expected to reach USD 20.17 Billion in 2032, and register a revenue CAGR of 26% during the forecast period. Rising need for simple and convenient authentication solutions across various industry verticals is the major factor driving market revenue growth. A security method known as Physical Biometrics uses people's patterns of behavior to authenticate and identify them. The technique uses various behavioral biometric modalities, including gait analysis, voice recognition, signature analysis, keystroke dynamics, and mouse dynamics.

Rising number of firms are implementing Physical Biometrics technology as a result of cyberattacks and data breaches. Comparatively speaking, the technology offers a higher level of security than conventional authentication techniques such as passwords, tokens, and smart cards. By reliably identifying users based on their distinctive behavioral patterns, Physical Biometrics technology lowers the risk of identity theft, fraud, and unlawful access.

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Increasing use of mobile devices and online transactions is another factor driving adoption of Physical Biometrics technology. Secure and practical authentication solutions are now necessary due to increasing mobile payments and the number of smartphone users. Physical Biometrics technology offers a seamless user experience by removing the need for users to carry physical tokens or memorize passwords.

In addition, the adoption of Machine Learning (ML) and Artificial Intelligence (AI) in Physical Biometrics technology is driving revenue growth of the market. As time goes on, the technology will get more precise and dependable because to the ability of AI and ML algorithms to evaluate enormous volumes of data and spot trends in user behavior. Real-time fraud detection and prevention are also made possible by the incorporation of AI and ML algorithms in Physical Biometrics technology, hence driving the security of online transactions.

Moreover, revenue growth of the market is driven by rising demand for cloud-based Physical Biometrics solutions. Organizations may easily incorporate flexible and scalable authentication solutions with their current IT infrastructure due to cloud-based solutions. Compared to on-premise systems, cloud-based solutions also provide lower maintenance costs and quicker implementation timelines.

Competitive Landscape:

  • BehavioSec Inc.
  • BioCatch Ltd.
  • CyberInt Technologies
  • Nuance Communications
  • Plurilock Security Solutions Inc.
  • SecuredTouch Inc.
  • Simility Inc.
  • UnifyID
  • Veridium Ltd.
  • VoiceVault Inc.

The global market is further segmented into type and application:

By Deployment Outlook  
  • On-Premises
  • Cloud
By Component Outlook  
  • Software
  • Services
By Application Outlook  
  • Authentication & Access Control
  • Fraud Detection & Prevention
  • Others

Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
  • Latin America (Brazil, Rest of LATAM)
  • Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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