Keystroke Dynamics Market to Reach USD 754.86 Million by 2025 | Top Players such as – KeyTrak, TypingDNA and ID Control
The rising incidence of cybercrimes and fraudulent digital transactions across the globe is one of the key factors driving the growth of the market.
PORTLAND, PORTLAND, OR, UNITED STATE, April 21, 2023 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” The Keystroke Dynamics Market to Reach USD 754.86 Million by 2025 | Top Players such as – KeyTrak, TypingDNA and ID Control.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global keystroke dynamics market was valued at USD 129.76 million in 2017, and is projected to reach USD 754.86 million by 2025, registering a CAGR of 24.7% from 2018 to 2025.
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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 market growth. On the contrary, the growing need for advanced security measures on the Internet of Things (IoT) landscape is expected to create lucrative opportunities for the market players in the near future.
The global keystroke dynamics market is segmented based on component, authentication type, deployment model, application, organization size, industry vertical, and region. Based on component, the market is bifurcated into software and service. Based on authentication type, it is classified into static authentication and continuous authentication. Based on deployment model, it is divided into on-premise and cloud based. The applications covered in the study include continuous authentication, fraud detection & prevention, identity proofing, risk & compliance management, and others. By organization size, it is fragmented into large enterprises and SMBs. According to industry vertical, it is classified into BFSI, retail & e-commerce, healthcare, government & public sector, education, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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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.
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.
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North America governed the overall keystroke dynamics market share, in terms of revenue, in 2017, owing to significant adoption of keystroke dynamics industry solutions supported by high ICT spending among organizations for data security solutions across the region. However, Asia-Pacific is expected to witness the highest growth rate during the forecast period, owing to factors such as rise in need of security solutions in growing vulnerable landscape and development in the smartphones market in the emerging economies across the region.
The key players operating in the global keystroke dynamics market include KeyTrak, Inc., TypingDNA, ID Control, BehavioSec Inc., Delfigo Security, Intensity Analytics, Authenware Corporation, DeepNet Security, SERBAN Biometrics, Daon, Inc., and others.
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Key Findings of the Study
● Based on organization size, the large enterprises segment is expected to dominate the global keystroke dynamics during the forecast period.
● Based on application, the continuous authentication segment generated the highest revenue in 2017.
● Based on region, North America accounted for the highest revenue among the other regions, in 2017.
● Based on region, Asia-Pacific is anticipated to exhibit substantial growth during the forecast period.
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