According to a research report “Digital Identity Solutions Market by Offering (Solutions and Services), Solution Type (Identity Verification, Authentication), Identity Type (Biometric and Non-Biometric), Deployment Mode, Organization Size, Vertical and Region – Global Forecast to 2027″ published by MarketsandMarkets, the global Digital Identity Solutions market size is expected to grow from an estimated value of USD 27.9 billion in 2022 to USD 70.7 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 20.4% from 2022 to 2027. The market growth is driven by Various government initiatives and regulations supporting the digital ID transformation and rise in ID wallet solutions.
Browse and in-depth TOC on “Digital Identity Solutions Market”
536 – Tables
47 – Figures
356 – Pages
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=247527694
By deployment mode, the cloud segment to grow at a higher cagr during the forecast period
In the cloud-based deployment mode, instead of implementing the software solution on the local hardware, businesses subscribe to the solution hosted on a third-party remotely located server. The cloud segment is the fastest-growing segment which is availing many digital identity solutions market opportunity. Organizations can avoid certain costs, such as maintenance of infrastructure, and costs related to technical staff, by using cloud-based digital identity solutions. Cloud-based platforms are beneficial for organizations that have strict budgets for security investments. SMEs deploy their digital identity solutions on the cloud, as it enables them to focus on their core competencies rather than invest their capital in the security infrastructure.
By Region, North America estimated to have largest market size during forecast period.
North America consists of developed countries that are technologically advanced with well-developed infrastructure. Being the strongest economies, the US and Canada are the top contributing countries in North America in digital identity solutions market growth. The growing economies of the US and Canada enable them to invest in these new technologies in huge amounts. Growing incidents of identity theft are driving the adoption of these digital identity solutions. According to the Identity Theft Resource Center (ITRC), in 2021, there was a 68% jump in number of data compromised in the United States. The number was 23% higher than the previous all-time high. Based on public-private partnerships, a range of digital ID initiatives have sprung up in North America. The rules and requirements of these initiatives vary immensely between different federal, state, provincial, and local entities within the region. New technologies such as big data and analytics, mobile, cloud computing and biometrics are changing the way citizens identify themselves online within the region in various sectors from financial services, to travel, to healthcare. but still Digital identity is not viewed as a necessity and as a result there is a huge scope for development. Open access to information across verification and authentication systems and collaboration between public and private sector stakeholders will be critical to enabling more coordinated progress in North America.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=247527694
Major vendors in the global Digital Identity Solutions market include NEC(Japan), Samsung SDS (South Korea), Thales (France), GBG (UK), Telus (Canada), Tessi (France), Daon (US), Idemia (France), Forgerock (US), Imageware (US), Jumio (US), iProov (UK), ID R&D (US), Refinitiv (UK), OneSpan (US), Smartmatic (UK), Fraja eID Group (France), Vintegris (Spain), AU10TIX (Israel), Signicat AS (Norway), RaulWalter (Estonia), Duo Security (US), Syntizen (India), HashCash Consultant (US), Good Digital Identity (Czech Republic).
Browse Adjacent Markets: Information Security Market Research Reports & Consulting
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
Email: [email protected]
MnM Blog: https://mnmblog.org/
Visit Our Website: https://www.marketsandmarkets.com