Growing Demand for Cloud-based Security Solutions Predicted to Drive the Global Keystroke Biometrics Market Until 2020, Says Technavio

LONDON--()--According to the latest research study released by Technavio, the global keystroke biometrics market is expected to grow at a CAGR of over 10% until 2020.

This research report titled ‘Global Keystroke Biometrics Market 2016-2020’, provides an in-depth analysis of market growth in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments, including enterprises, education, e-commerce, and others.

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“One of the trends in the global keystroke biometrics market is the increased demand for cloud-based biometric solutions. These solutions provide many significant advantages, which have increased their demand among enterprises. Enterprises find it difficult to manage stand-alone and integrated network components because of budget constraints and the lack of resources and expertise,” said Amrita Choudhury, one of Technavio’s lead analysts for automatic identification systems research.

“Therefore, enterprises opt for cloud-based biometric solutions that are cost-effective and compatible with regulations and offer round-the-clock monitoring of systems. As keystroke algorithms can be deployed on both cloud-based and hybrid infrastructure, their demand is growing in the market,” added Amrita.

 

Segmentation of global keystroke biometrics market by end-users 2015

• Enterprises

54.67%

• Education

31.51%

• E-commerce

10.51%

• Others

3.41%

Source: Technavio research

 

Global keystroke biometrics market in enterprise: largest segment

The global keystroke biometrics market in enterprises was valued at USD 137.7 million in 2015. The major application of keystroke recognition in enterprises is to provide identity and access control to network data. As large volumes of confidential data exist in enterprise networks, an unauthorized access can lead to a significant loss for organizations. With the introduction of the bring your own device policy in different organizations, the need for user authentication has increased. As the bring your own device policy allows employees to access critical data from remote locations, the need for security is high. Keystroke biometrics can be easily installed and integrated with any mobile devices, and it is leading to the high adoption of keystroke recognition in enterprises.

Global keystroke biometrics market in education sector: second largest segment

The global keystroke biometrics market in e-commerce was valued at USD 26.22 million in 2015. In the education sector, keystroke biometrics is being adopted by online education program providers to authenticate students through their computer systems. It is also being implemented for verifying the identity of students for online examinations where establishing the identity of students is a major issue. The education sector is a slow adopter of biometric solutions mainly because of the lack of customized solutions, but keystroke biometrics will find high acceptance in this sector when compared to other biometric technologies like fingerprint and facial recognition during the forecast period.

Global keystroke biometrics market in e-commerce

E-commerce is an upcoming end-user of keystroke biometrics. In e-commerce, keystroke biometrics is used to identify and authenticate customers. As e-commerce processes deal with online transactions, the need for advanced security to authenticate users is increasing. However, the adoption of multifactor authentication in e-commerce is affecting the demand for keystroke biometrics, which is leading to its declining year-over-year growth rate.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
media@technavio.com

Release Summary

According to the latest research study released by Technavio, the global keystroke biometrics market is expected to grow at a CAGR of over 10% until 2020.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
media@technavio.com