LONDON--(BUSINESS WIRE)-- According to the latest research report released by Technavio, the global electroencephalography (EEG) and electrocardiography (ECG) biometrics market is expected to grow at a CAGR of over 12% until 2020.
This report titled ‘Global EEG and ECG Biometrics Market 2016-2020‘, provides an in-depth analysis of the market in terms of revenue and emerging trends. To calculate the market size, the report considers revenue generated from the sales of the EEG and ECG solutions. These solutions include sensors, scanners, software, hardware, integrated solutions, and databases of EEG and ECG solutions provided by vendors.
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“Multimodal biometrics uses a combination of two or more biometric modalities and helps improve the performance of biometric systems. EEG and ECG biometrics can be used in combination with other biometric modalities to help organizations get more accurate results. A number of airports have implemented the use of multimodal biometric access control systems in order to restrict unauthorized individuals from sensitive areas. The implementation of multimodal biometrics in the government sector can replace the need to carry driving licenses, social security cards, and welfare registration cards,” said Amrita Choudhury, one of Technavio’s lead industry analysts for automatic identification systems.
Some of the other driving forces behind the growth of the global EEG and ECG market are as follows:
High adoption in healthcare sector
The healthcare sector is slowly adopting EEG and ECG biometric solutions. These solutions are mainly being implemented to improve security of crucial data such as patients' data and doctors' diagnoses. Biometric solutions are also being used for patient and staff verification and securing patient data. Typical biometric techniques used in the healthcare sector include fingerprint scanning for identifying blood donors, biometric patient check-in through palm vein scanning, and biometric USB drives to store patient records. Some healthcare facilities have integrated biometrics with electronic health record systems, authenticating clinical and administrative users who need access to patient records.
With growing awareness about emerging biometric technologies such as gait analysis, DNA analysis, and EEG and ECG analysis, the healthcare sector will show higher traction in the market during the forecast period.
Increased R&D spending by EEG and ECG vendors
Since 2010, vendors in the biometrics market have increased R&D spending on emerging biometric technologies. Leading vendors such as NEC have increased their investment in R&D activities for emerging biometric technologies. For instance, NEC has partnered with value-added resellers and suppliers by investing significantly in R&D. This helps vendors introduce affordable and advanced solutions for customers. In addition, increased focus on R&D has resulted in the introduction of products with better accuracy and more integration abilities. The high accuracy, improved integration ability, and affordable price of these biometric technologies will result in the high adoption of EEG and ECG biometric solutions during the forecast period.
High adoption in sports and gaming sectors
Emerging technologies such as gait and EEG biometrics are gaining high traction in the sports and gaming sectors. With advances in technology, vendors are exploring novel avenues for these technologies. In 2015, gait analysis was used by athletes to test and analyze their running strategies and posture. It was also being used to analyze the best fit and type of shoes for athletes. EEG biometrics is gaining popularity in the gaming and entertainment sector as well. Vendors are exploring the use of wireless wearables to manage gaming consoles directly with brain signals. For instance, NeuroSky offers gaming EEG headsets that use EEG technology to sync and use an individual's brainwaves to control the games.
Evolution of cloud-based biometrics
Cloud computing offers an opportunity to end-users to use hardware, infrastructure, and application as a service. Cloud-based biometrics uses cloud services through a web-based user interface, which is either a browser or mobile application. The biometric infrastructure is available on demand. Biometric infrastructure on the cloud includes servers that consist of biometric template database and all the processing data that is created during an individual's identification and verification process. It simplifies the systems and reduces data storage issues. Once created, the template can be stored on the cloud and can be accessed from anywhere at any time.
Cloud-based biometrics is affordable for SMEs as the pricing of cloud biometrics is based on a pay-per-use model, where customers pay according to their use of the services. Therefore, budget constraints and lack expertise and resources to manage stand-alone or integrated network components are emerging as factors driving the use of cloud-based biometrics. The demand for cloud-based biometric services is also increasing due to its advantages such as security, round-the-clock monitoring, and reliability.
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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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