Keystroke dynamics market to reach nearly $800m by 2020: report
Global Industry Analysts Inc., announced it has published a new report titled “Keystroke Dynamics: A Global Strategic Business Report”, which projects the keystroke dynamics market to reach US$796.4 million by 2020.
A part of behavioral biometrics, the keystroke dynamics market will be driven by the growing information security concerns, increasing sophistication of security attacks and growing demand for unobtrusive and low-cost security solutions.
The report gives a comprehensive review of keystroke dynamics’ market trends, company profiles, mergers, acquisitions and other strategic industry activities.
One of its key findings is that the United States continues to remain the largest regional market for keystroke dynamics in the world, while Asia-Pacific ranks as the fastest growing regional market with a CAGR of about 17.4% over the analysis period.
In addition to the U.S. and Asia-Pacific, the report also provides market estimates and projections for Canada, Japan, Europe, Middle East and Latin America.
The report highlights key players in the global marketplace including AdmitOne Security, Authenware Corporation, BehavioSec, Deepnet Security, Intensity Analytics, Delfigo Security and ID Control BV.
The report points out that the high prevalence of cybercrime in the form of identity theft, hacking, and network security breaches will continue to drive demand for system and network security solutions.
As more traditional user authentication solutions such as login IDs & passwords and two-factor authentication solutions such as smartcards and OTP tokens have failed to provide an efficient level of security, biometric technologies have emerged as a successful alternate security solution.
The report points out the many benefits of keystroke dynamics, including its ability to seamlessly integrate with existing work environments, its scalability across the enterprise and Internet, its non-invasive nature making it easily deployable for use in the enterprise space, and its relatively low cost.
The general preference for biometrics in multi-factor authentication coupled with high awareness levels will benefit growth in the keystroke dynamics market, according to the report, while its attributes and low prices are expected to drive the use of the technology in a range of end-use applications.
The report found that since keystroke dynamics technology can easily be integrated into the existing computer security system with minimal alterations and with no additional hardware, it is usually preferred in workstation log-ins, Internet transactions and other access security environments.
The e government sector is slowly growing to become a frequent end user of the technology, while integration of keystroke dynamics into mobile devices are progressing quite rapidly, the report found.
The report does emphasize that the adoption of the technology is still somewhat limited, as many companies continue to be skeptical about its efficacy as a stand-alone logical access control solution.
Its adoption is also hindered by key technical challenges in which the process of authentication can be more difficult than other biometrics.