According to a recent report published by Allied Market Research, titled,"Keystroke dynamics Market by Component, Authentication Type, Deployment Model, Application, Organization Size, Industry Vertical, and Region: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global keystroke dynamics was valued at $129.76 million in 2017, and is projected to reach $754.86 million by 2025, registering a CAGR of 24.7% from 2018 to 2025. The large enterprises segment was the highest contributor to the market, owing to the growth in need of multimodal biometrics among these organizations.
Every user has a certain way of typing, which separates them from other users. Keystroke dynamics is one of the major evolving biometrics, which involves authentication based on typing patterns of its users, which distinguishes them from one another. This technology can be used with any form of authentication such as PINs and passwords. It helps decrease the dependency on primary forms of authentication. This technology is widely adopted, as enterprise customers constantly focus on adding an additional layer of security to secure their data. Rise in number of online frauds in digital transactions, need of advanced security mechanisms in growing IoT landscape, and surge in demand for multimodal biometrics increase the need for keystroke dynamics, thereby driving the market growth. However, performance & interoperability issues and lack of awareness restrain the growth of the market.
Based on industry vertical, the BFSI segment dominated the global market in 2017, owing to significant applications of keystroke dynamics in strengthening e-banking security. Furthermore, the healthcare segment is expected to grow at the highest CAGR during the forecast period, owing to rise in demand for advanced security mechanisms to control access of health related data stored in public cloud and to prevent fake billing, duplicates claims, and others.
In 2017, North America dominated the global keystroke dynamics market, and is expected to maintain this trend during the forecast period. However, Asia-Pacific is expected to witness the highest growth in the near future, owing to significant increase in digital security expenditure among different end user industries, such as BFSI, government & defense sector. Moreover, developments in the smartphones market in the emerging economies in the region are expected to create significant opportunities for the market growth.
Key Findingsn of the Keystroke dynamics Market:
- Based on organization size, the large enterprises segment is expected to dominate the global keystroke dynamics during the forecast period.
- Based on application, the continuous authentication segment generated the highest revenue in 2017.
- Based on region, North America accounted for the highest revenue among the other regions, in 2017.
- Based on region, Asia-Pacific is anticipated to exhibit substantial growth during the forecast period.
Some of the key market players profiled in the report include KeyTrak, Inc., TypingDNA, ID Control, BehavioSec Inc., Delfigo Security, Intensity Analytics, Authenware Corporation, DeepNet Security, SERBAN Biometrics, and Daon, Inc.
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