Digital Identity Solutions Market Size, Share, Revenue, Trends,and Drivers For 2024-2033

Digital Identity Solutions Market Size, Trends, And Forecast 2024-2033

LONDON , GREATER LONDON , UNITED KINGDOM, October 1, 2024 /EINPresswire.com/ — The digital identity solutions market has experienced robust growth in recent years, expanding from $33.34 billion in 2023 to $39.75 billion in 2024 at a compound annual growth rate (CAGR) of 19.2%. The growth in the historic period can be attributed to increased cyber threats, rise of online services, data breaches awareness, mobile device proliferation, financial sector embrace.

What Is TheEstimated Market Size Of The Global Digital Identity Solutions MarketAnd Its Annual Growth Rate?
The digital identity solutions market is projected to continue its strong growth, reaching $79.59 billion in 2028 at a compound annual growth rate (CAGR) of 19.0%. The growth in the forecast period can be attributed to healthcare and telemedicine growth, cybersecurity concerns, remote work and digitalization, expansion of IoT devices, biometric authentication growth.

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Growth Driver OfThe Digital Identity Solutions Market
Rising cybercrime and fraud are expected to propel the digital identity solutions market going forward. Cybercrime refers to a criminal act that uses or targets a computer, a computer network, or a networked device. Cybercrime is committed by both individuals and groups that aim to harm computers or networks for objectives other than financial gain. Digital identity solutions play a major role in combating cyber-crimes by achieving cybersecurity with stronger user authentication through facial, voiceband fingerprint recognition, so the rise in cybercrimes will propel market growth.

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Who Are TheLeading Competitors In The Digital Identity Solutions Market Share?
Key players in the market include NEC Corporation, Samsung SDS Co. Ltd., Thales Group, GB Group Plc., Telus Communications Inc., Tessi International, Daon Inc., IDEMIA, ForgeRock Inc., ImageWare Systems Inc., Jumio, Refinitiv, Víntegris S.L.U., RaulWalter LLC, Duo Security Inc., Syntizen Technologies Pvt. Ltd., Sum and Substance Ltd., Socure Inc., Trulioo Information Services Inc., BioCatch Ltd., Winding Tree Technologies SA, PXL Vision AG, Airside Mobile Inc., Ping Identity Corporation, Onfido Ltd., Signicat AS, Acuant Inc., Veriff OU, Mitek Systems Inc., OneSpan Inc., IPROOV LIMITED, Yoti Ltd., Evernym Software Private Limited .

What Are TheDominant Trends In Digital Identity Solutions Market Growth?
Major companies operating in the market are focused on introducing advanced solutions, such as digital ID networks, to gain a competitive edge in the market. A digital ID network refers to a platform that acts as a bridge between organizations that need to verify identities and the organizations providing the verification, allowing consumers to reuse trusted digital identities.

How Is TheGlobal Digital Identity SolutionsMarket Segmented?
1) By Offering: Solutions, Services
2) By Solution Type: Identity Verification, Authentication, Identity Lifecycle Management, Other Types
3) By Identity Type: Biometrics, Non Biometrics
4) By Deployment Mode: On Premises, Cloud
5) By Vertical: BFSI, Retail And E-Commerce, Government And Defense, Healthcare, IT And Telecommunication, Energy And Utilities, Other Verticals

Geographical Insights: North America Leading TheDigital Identity SolutionsMarket
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the market report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Digital Identity Solutions Market Definition
Digital identity solutions are open-standards-based online or networked identities that a person, business, or electronic equipment adopts or claims in cyberspace. It is also known as self-sovereign identity. They are used for finding cyber threats and reduce costs for enterprises.

Digital Identity Solutions Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global digital identity solutions market report covering trends, opportunities, strategies, and more
The Digital Identity Solutions Global Market Report 2024by The Business Research Company is the most comprehensive report that provides insights on digital identity solutions market size, digital identity solutions market driversand trends, digital identity solutions market major playersand digital identity solutions market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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