Keystroke dynamics solution is used for authorization and authentication by examining typing activities of its users such as rhythm pattern, overall speed, common errors. Keystroke tools are effective because they provide continuous authentication and can be incorporated alongside other forms of biometric identification in a broader anti-fraud suite like BioCatch.
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 to 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.
According to a report by Allied Market Research, the global keystroke dynamics market is expected to reach $754.9 million by 2025 at a CAGR of 24.7%. Most (three-fourths) of the keystroke market is currently dedicated to software, although Allied Market Research expects the service segment to display more growth due to the demand for updates and maintenance on existing keystroke services.
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, the 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.
Global Keystroke Dynamics Market: https://www.alliedmarketresearch.com/keystroke-dynamics-market
Software segment to retain the largest market share through 2025
The software segment held the largest share in 2017, contributing three-fourths of the total revenue, owing to the 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 the aggrandized need for periodic release of security updates and provision of maintenance services for existing infrastructure.
SMEs segment to manifest the 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 the introduction of the "bring your own device" concept.
The 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 a massive amount of critical data, which needs a 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.
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 the rise in demand for advanced security mechanisms to prevent card-related frauds and fraudulent insurance claim frauds. The other segments analyzed in the report include retail & e-commerce, government and defense, education and others are.