The global digital identity solutions market size is anticipated to reach over USD 33 Billion by 2025. This can be attributed to the increasing integration of biometrics in smartphones and numerous industries.
Dallas, United States - October 20, 2020 /MarketersMedia/ —
The digital identity enables apps, systems, and services to identify the individual or anyone they are, interacting with. Its capabilities comprise privilege access management, block chain and biometrics, and identity & access management. The growing digitization has brought efficiency and ease across various complex processes. However, with the growing digitization, there is always a risk in breach of any personal information and breach of security. Therefore, the demand for digital identity solutions is rising as it allows devices to identify who they are interacting with.
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Increasing integration of biometrics in smartphones and numerous industries along with increasing the focus of organizations on enhancing customer experience is one of the crucial factors driving the market growth. However, the lack of consumer data security is anticipated to hamper the market growth. Furthermore, the growing adoption of authentication solutions across numerous industry verticals is anticipated to create lucrative opportunities for the market in the upcoming years.
Also, the integration of advanced technologies such as ML and AI is anticipated to provide major growth opportunities to the market in upcoming years. As the number of services, devices, things, and people continues to grow exponentially, managing the identity lifecycle is becoming critical. Also, it is becoming very crucial to confirm that the right access has been given to the right device, person, or thing. Therefore, the need for comprehensive and dynamic digital identity platform and solutions is rising across the globe.
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Based on the authentication type segment, the market is divided into multi-factor and single-factor authentication. Furthermore on the basis of solutions, the market is segmented into the biometric and non-biometrics solutions. The biometrics solutions segment dominates the market. Based on end-users, the market is bifurcated into AR and VR gaming zones, arcade studios, skill/competition games, physical play activities, and others.
Some of the key players or Manufacturers involved in the Global Digital Identity Solutions market include Thales Group, Tessi, Telus, Signicat, Samsung SDS, NEC, Jumio, Imageware Systems, ForgeRock, DEMIA and many others. Looping on the basis of key geographies the Global Digital Identity Solutions Market can be divided into North America (U.S. and Canada), Asia Pacific (India, Japan, China and Rest of APAC), Europe (France, UK, Germany and Rest of Europe), Central and South America (Brazil, Mexico and Rest of Central & South America), Middle East and Africa and Rest of World (RoW). Geographically, North America dominated the global Digital Identity Solutions market and is anticipated to retain its position through the forecast period. However, Asia-pacific is expected to top in terms of highest CAGR of Market.
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Key Segments of the global Digital Identity Solutions Market
Authentication Type Overview, 2018-2025 (USD Billion)
Single-Factor Authentication
Multi-Factor Authentication
Solutions Overview, 2018-2025 (USD Billion)
Biometric
Non-Biometrics
End Users Overview, 2018-2025 (USD Billion)
IT & Telecom
BFSI
Retail
Healthcare
Government & Defense
Others
Regional Overview, 2018-2025 (USD Billion)
North America
S.
Canada
Europe
UK
Germany
France
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia-Pacific
Middle East and Africa
UAE
South Africa
Rest of Middle East and Africa
South America
Brazil
Rest of South America
Reasons for the study
The purpose of the study is to give an exhaustive outlook of the global digital identity solutions market. Benchmark yourself against the rest of the market.
Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
The study on the global digital identity solutions market includes qualitative factors such as drivers, restraints, and opportunities
The study covers the competitive landscape of existing/prospective players in the digital identity solutions industry and their strategic initiatives for the product development
The study covers a qualitative and quantitative analysis of the market segmented based on authentication type, solutions, and end-users. Moreover, the study provides similar information for the key geographies.
Actual market sizes and forecasts have been provided for all the above-mentioned segments.
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Source: MarketersMedia
Release ID: 88981614
