The global EEG and ECG biometrics market is expected to grow at a CAGR of 12.37% during the period 2016-2020.
Biometric technology helps identify individuals on the basis of their physical or behavioral features. It involves the verification and identification of both physiological and behavioral traits. It forms an additional layer of security for data access and individual identification as it is difficult to impersonate or fool this technology
One of the major factors driving the EEG and ECG biometrics market is the need for high security in different government departments. Due to a significant increase in the number of terrorist attacks and cyber attacks on government departments and public places, governments installing stronger security measures for identification of individuals. The theft of critical data from government departments such as intelligence, law enforcement, defense, and finance can jeopardize national security. As a result, the adoption of biometric technologies such as DNA analysis and EEG and ECG biometric technologies is high among the government sector, which is fueling the growth of the market.
According to the report, the healthcare sector is slowly adopting EEG and ECG biometric solutions. These solutions are mainly being implemented to improve the security of crucial data such as patients' data and doctors' diagnoses. Biometric solutions are also being used for patient and staff verification and securing patient data. With the growing awareness about the emerging biometric technologies such as gait analysis, DNA analysis, and EEG and ECG analysis, the healthcare sector will show higher traction in the market during the forecast period.
Further, the report states that although biometric systems offer a number of advantages over their counterparts, their high cost is their major drawback.