According to a new market research report published by Global Insight Services “Digital Identity Solutions Market is expected to reach US$ XX bn by 2031”. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Digital Identity Solutions (DIS) is a set of technologies and services that enable organizations to verify the identity of individuals and devices. DIS can be used to authenticate individuals when they access online services, to authorize transactions, or to verify the identity of devices when they connect to networks. DIS can also be used to manage the lifecycle of digital identities, including the creation, issuance, and revocation of digital credentials.
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Key Market Players
The digital identity solutions market report includes players such as NEC Corporation, Samsung SDS America Inc, Thales Group, TELUS Group, Tessi, ForgeRock, Jumio, RaulWalter, Duo Security, and Signicat.
Key Trends
There are three key trends in digital identity solutions technology:
1. The rise of biometrics: Biometrics, such as fingerprints and iris scans, are becoming increasingly common as a way to verify someone’s identity. This is because they are unique to each individual and cannot be easily replicated or stolen.
2. The growth of online identity verification: As more and more transactions are carried out online, there is a need for reliable ways to verify someone’s identity. This has led to the growth of online identity verification solutions, such as those offered by Jumio and Onfido.
3. The rise of mobile identity solutions: With the growth of smartphones and other mobile devices, it is now possible to verify someone’s identity using their mobile device. This is convenient for both users and businesses, as it eliminates the need for physical documents or cards.
Key Drivers
There are several key drivers of digital identity solutions market. The most important driver is the need for organizations to protect their data and resources from unauthorized access. As the number of cyberattacks increases, the need for effective digital identity solutions becomes more critical. Another driver is the increasing use of mobile devices and the need to ensure that only authorized users have access to sensitive data. Additionally, the growth of the e-commerce market is driving the need for digital identity solutions that can provide a secure way to transact online.
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Key Market Segments
The digital identity solutions market report is bifurcated on the basis of tool, deployment mode, organization size, vertical, and region. On the basis of tool, it is segmented into software and services. Based on deployment mode, it is analyzed across cloud and on-premises. By organization size it is categorized into large enterprises and small & medium enterprises. By vertical, it is divided into retail & e-commerce, manufacturing, healthcare , and others. By authentication type it is divided into single-factor authentication and multi-factor authentication .Region-wise, it is studied across North America, Europe, Asia-Pacific, and rest of the World.
Reasons to buy Digital Identity Solutions Market Report:
- Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
- Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
- Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
- Develop business and M&A strategies through understanding of latest trends and emerging players in the market
- Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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