Keystroke Dynamics Market to Reach $754.9 Mn, Globally, by 2025 at 24.7% CAGR, Says AMR
Surge in cyber frauds, increase in demand for multi-modular biometrics, and need for advanced security measures in IoT landscape are expected to propel the growth of the global keystroke dynamics market
PORTLAND, Oregon, Feb. 6, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Keystroke Dynamics Market by Component (Software and Service), Organization Size (Large Enterprises and SMEs), Deployment Model (On-Premise and Cloud), Authentication Type (Static Authentication and Continuous Authentication), Industry Vertical (BFSI, Retail and E-Commerce, Healthcare, Government and Defense, Education, and Others), and Application (Identity Proofing, Continuous Authentication, Risk and Compliance Management, and Fraud Detection and Prevention): Global Opportunity Analysis and Industry Forecast, 2018–2025". The research provides in-depth analysis of the industry dynamics, key market segments, market size & estimations, top investment pockets, and competitive landscape. According to the report, the global keystroke dynamics market accounted for $129.8 million in 2017 and is expected to reach $754.9 million by 2025, registering a CAGR of 24.7% through 2025.
Increase in the number of fraudulent digital transactions worldwide and rise in demand for multi-modular biometrics drive the growth of the global keystroke dynamics market. However, issues related to performance and interoperability coupled with lack of awareness about this technology hamper the market growth. On the contrary, growing need for advanced security measures in the Internet of Things (IoT) landscape is expected to create lucrative opportunities for the market players in the near future.
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Software segment to retain largest market share through 2025
The software segment held the largest share in 2017, contributing three-fourths of the total revenue, owing to rise in demand for multimodal biometrics alongside associated benefits such as accurate real-time detection. However, the service segment is expected to register the fastest CAGR of 27.6% during the forecast period, owing to aggrandized need for periodic release of security updates and provision of maintenance services for existing infrastructure.
SMEs segment to manifest fastest growth by 2025
Small and medium enterprises (SMEs) segment is projected to register the fastest CAGR of 30.7% through 2025, owing to ease of installation and cost-effectiveness of keystroke dynamics solutions among SMEs. However, the large enterprises segment held the largest share in 2017, contributing more than four-fifths of the total revenue, owing to the increasing need for securing digital transactions in large enterprises and introduction of the "bring your own device" concept.
On premise segment to lead the market through 2025
The on premise segment held the largest share in 2017, contributing nearly two-thirds of the total revenue, owing to the increasing adoption of on-premise keystroke dynamics in data intensive industry verticals such as BFSI, government and defense, which generate massive amount of critical data, which needs high level of security. However, the cloud segment is expected to grow at the fastest CAGR of 28.6% through 2025, owing to its growing adoption supported by numerous benefits, such as scalability, high cost efficiency, and enhanced flexibility in deployment.
Static authentication segment to portray fastest growth through 2025
The static authentication segment is projected to manifest the fastest CAGR of 25.6% during the forecast period, owing to the increase in applications of static authentication during sign-in process for authenticating legitimate users. However, continuous authentication segment held the largest share in 2017, contributing about two-thirds of the total market share, owing to the surge in end-user industry applications such as risk and compliance management and fraud detection & prevention.
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BFSI segment to retain lion's share through 2025
The BFSI segment accounted for the largest share in 2017, contributing about two-fifths of the total revenue, owing to aggrandized use of multimodal biometrics for several applications such as facial recognition, fingerprints, and keystrokes to prevent unauthorized access to sensitive data. However, the healthcare segment is projected to manifest the fastest CAGR of 31.1% during the study period, owing to rise in demand for advanced security mechanisms to prevent card-related frauds and fradulent insurance claim frauds. The other segments analyzed in the report include retail & e-commerce, government and defense, education and others are.
Risk and compliance management segment to register highest CAGR by 2025
The risk and compliance management segment is projected to register the fastest CAGR of 26.6% during the forecast period, owing to the increase in demand for risk and compliance management solutions among end-user organizations to reduce cyber and data breach risks. However, the continuous authentication segment held the largest share in 2017, contributing nearly one-third of the total revenue, as the data captured through continuous keystroke dynamics enables real-time authentication and prevents data breach after the initial login process. The report also analyzes identity proofing and fraud detection & prevention segments.
North America region to garner largest revenue through 2025
North America region contributed the largest share, with nearly two-fifths of the total market revenue in 2017. This is attributed to the increased demand for security and verification on account of the surge in cyberattacks and data breaches in this region and rise in demand for multimodal biometrics in government databases, large organizations, and defense sector for safeguarding confidential data. However, Asia-Pacific region is expected to register the fastest CAGR of 27.5% during the forecast period, owing to rise in online transactions, growth of the e-commerce industry, and increase in expenditure by government and BFSI organizations to beef up security to safeguard data.
Major market players
The key players analyzed in the report include KeyTrak Inc., ID Control, Delfigo Security, Authenware Corporation, SERBAN Biometrics, TypingDNA, BehavioSec Inc., Intensity Analytics, DeepNet Security, and Daon Inc.
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