The global digital identity solution market is anticipated to grow at a significant CAGR of 16.2% during the forecast period. The rising number of data thefts and data frauds is increasing the use of digital identity solutions which contributes towards the growth of digital identity solution market across the globe. The Identity Theft Research Center (ITRC) reports a record number of data compromises in the US in 2021, amount to a 68 percent increase over 2020. According to the Aite-Novarica Group, 47 percent of Americans experienced financial identity theft in 2020. Due to increasing identity-related frauds many companies have started adopting digital identity solutions for identification and authentication to manage security. Apart from these, the implementation of digital identity features such as fingerprint and facial recognition in smartphones is further expected to create its scope during the forecast period.
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Besides these facts, the implementing cost for digital identity solutions are high which may affects the adoption of digital identity solutions among small market players. Further, lack of skilled professionals is also a factor restraining the growth of digital identity solution market across the globe during the forecast period.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Digital Identity Solution Market by Component
- Solutions
- Services
Global Digital Identity Solution Market by Solution Type
- Biometrics
- Non-Biometrics
Global Digital Identity Solution Market by Deployment Mode
- Cloud
- On-premise
Global Digital Identity Solution Market by AuthenticationType
- Single Factor Authentication
- Multi-Factor Authentication
Global Digital Identity Solution Market by Industry Vertical
- BFSI
- Healthcare
- Travel & Hospitality
- Government
- Defense & Aerospace
- IT & Telecommunication
- Retail & E-Commerce
- Education
- Others
Regional Analysis
- North America
- US
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Au10tix
- Cisco Systems, Inc.
- Daon, Inc.
- ForgeRock
- Freja eID Group AB (publ)
- Good Digital Identity
- Hashcash Consultants LLC
- IDEMIA
- ID R&D
- Imageware Systems, Inc.
- iProov
- Jumio Corp.
- OneSpan
- RaulWalter LLC
- Refinitiv Ltd.
- Signicat
- Smartmatic-group
- Syntizen Technologies Pvt. Ltd.
- Tessi
- Víntegris S.L.U.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global digital identity solution market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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