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Global Digital Identity Solutions Market Size, Industry Analysis By Segmentations, Top Key Players, Trends, Future Development & Forecast 2024-2035

  • PUBLISHED ON
  • 9/1/2022
  • NO OF PAGES
  • 223
  • CATEGORY
  • Information Technology

Market Overview:

The global Digital Identity Solutions Market size was valued at USD 29.56 billion in 2022, and is projected to reach USD 70.57 billion by 2032 at a CAGR of 20.5% from 2022 to 2032. Digital identity solutions market refers to Digital Identity Solutions Market for tools, technologies, and solutions that are used to manage and authenticate digital identities of individuals and organizations. Digital identity solutions play a critical role in ensuring secure access to digital services, protecting against fraud, and complying with regulatory requirements. Digital Identity Solutions Market for digital identity solutions is driven by the increasing use of digital services, rising incidents of identity theft, and growing demand for secure authentication solutions. Additionally, the rapid growth of online transactions and the adoption of digital identities by government agencies and financial institutions are expected to further drive market growth. Some of the key trends in the digital identity solutions market include the increasing use of biometric authentication, the adoption of blockchain technology for identity management, and the emergence of self-sovereign identity solutions. There is also a growing trend towards decentralized identity management systems, which allow users to control their own digital identities.

Opportunities in the digital identity solutions market include the adoption of digital identities by emerging economies, the increasing use of digital identity solutions in the healthcare sector, and the growing demand for mobile-based identity solutions. Additionally, the increasing use of IoT devices and the need for secure authentication solutions for these devices is expected to drive market growth. Overall, the digital identity solutions market is expected to continue to grow as the adoption of digital services and the need for secure authentication solutions continue to increase.

Growing adoption of digital identity verification solutions is propelling Digital Identity Solutions Market growth.

One driving factor of the digital identity solutions market is the increasing adoption of digital identity verification solutions in various industries to combat the rising cases of identity theft, fraud, and cyber-attacks. The need for secure and reliable identity verification solutions has become crucial with the increasing use of digital platforms for various activities such as e-commerce, online banking, and social media. The digital identity solutions market is driven by the growing awareness among organizations about the importance of securing digital identities and the need to comply with regulations such as GDPR, CCPA, and KYC. The increasing demand for advanced biometric authentication technologies such as facial recognition, fingerprint recognition, and voice recognition is also driving the growth of Digital Identity Solutions Market.

Segmentation:

Component:

·         Solution

·         Services

Solution Type:

·         Biometrics

·         Single Sign-On (SSO)

·         Fraud Detection and Prevention (FDP)

·         Identity and Access Management (IAM)

·         Others

Application:

·         Banking, Financial Services, and Insurance (BFSI)

·         Government and Defense

·         Healthcare

·         IT and Telecommunication

·         Retail and E-commerce

·         Others

Deployment Type:

·         Cloud

·         On-Premises

Geography:

The digital identity solutions market is a global market with several regions contributing to its growth. However, North America and Europe are the dominant regions in Digital Identity Solutions Market due to the presence of several key players, advanced IT infrastructure, and government initiatives to promote the adoption of digital identity solutions. The Asia Pacific region is also expected to grow significantly in the coming years due to the increasing adoption of digital solutions in countries such as China and India. The North America Digital Identity Solutions Market refers to Digital Identity Solutions Market for solutions that enable secure and seamless authentication and identification of individuals through digital means such as biometrics, tokens, and certificates in the North American region. Digital Identity Solutions Market is primarily driven by the increasing need for secure digital transactions, rising concerns over identity theft and fraud, and the growing adoption of digital technologies by businesses and governments. North America dominates the digital identity solutions market, primarily driven by the widespread adoption of digital technologies in the region, as well as the presence of several key market players in the region. The United States is the largest market within North America due to the high adoption of digital technologies, advanced IT infrastructure, and the presence of major players in Digital Identity Solutions Market.

Impact of COVID-19 on the global Digital Identity Solutions Market:

The COVID-19 pandemic has significantly impacted the digital identity solutions market, both positively and negatively. On one hand, the pandemic has accelerated the need for digital identity solutions as businesses and governments shifted to remote work and online services. This has led to an increased demand for secure and reliable digital identity solutions to facilitate remote transactions, digital onboarding, and access to essential services. On the other hand, the pandemic has also disrupted supply chains, caused economic uncertainty, and increased cybersecurity risks, which have impacted the growth of the digital identity solutions market. Many organizations have been forced to delay or cancel their digital identity projects due to budget constraints or shifting priorities. Additionally, the pandemic has led to a surge in cyberattacks, with hackers exploiting vulnerabilities in digital identity systems to gain unauthorized access to sensitive information. This has led to increased scrutiny and regulation of the digital identity solutions market to ensure the security and privacy of personal data. Overall, the COVID-19 pandemic has accelerated the need for digital identity solutions while also creating new challenges and risks that must be addressed by market players.

Impact of the Russia-Ukraine War on the global Digital Identity Solutions Market:

The Russia-Ukraine war may have various economic and geopolitical impacts, which could potentially affect the digital identity solutions market as well as other markets. These impacts could include changes in government policies and regulations, fluctuations in currency and stock markets, changes in supply chains and logistics, and shifts in consumer behavior and confidence. It's essential to note that the situation is highly complex and dynamic, and its effects may be difficult to predict accurately.

The Russia-Ukraine war has not had a direct impact on the digital identity solutions market, as the industry is not closely tied to the conflict. However, the geopolitical tensions resulting from the war could have indirect impacts on Digital Identity Solutions Market. For example, sanctions or other measures imposed by countries as a result of the conflict could affect the ability of companies to conduct business internationally, which could impact Digital Identity Solutions Market as a whole. Additionally, political instability or changes in regulatory environments resulting from the conflict could also impact Digital Identity Solutions Market. However, it is important to note that the exact impact of the conflict on the digital identity solutions market is difficult to predict and may vary depending on a variety of factors.

Company Profiles:

·         IDEMIA

·         Gemalto

·         Veridos GmbH

·         Thales Group

·         Entrust Datacard

·         HID Global

·         Idemia Group

·         Nexus Group

·         OneSpan

·         Identicard

·         ForgeRock

·         Signicat

·         Jumio

·         Ping Identity

·         iWelcome


Key Points:
Define, describe and forecast Digital Identity Solutions product market by type, application, end user and region.
Provide enterprise external environment analysis and PEST analysis.
Provide strategies for company to deal with the impact of COVID-19.
Provide market dynamic analysis, including market driving factors, market development constraints.
Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
Keep up with international market trends and provide analysis of the impact of the COVID-19 epidemic on major regions of the world.
Analyze the market opportunities of stakeholders and provide market leaders with details of the competitive landscape.

Years considered for this report:
Historical Years: 2016-2021
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2022-2030
Base Year: 2023
Historic Year: 2016-2022
Forecast: 2024-2035


1 Digital Identity Solutions Market Definition and Overview
1.1 Objectives of the Study
1.2 Overview of Digital Identity Solutions
1.3 Digital Identity Solutions Market Scope and Market Size Estimation
1.4 Market Segmentation
1.4.1 Types of Digital Identity Solutions
1.4.2 Applications of Digital Identity Solutions
1.5 Market Exchange Rate

2 Research Method and Logic
2.1 Methodology
2.2 Research Data Source

3 Market Competition Analysis
3.1 Samsung SDS Market Performance Analysis
3.1.1 Samsung SDS Basic Information
3.1.2 Product and Service Analysis
3.1.3 Strategies for Company to Deal with the Impact of COVID-19
3.1.4 Samsung SDS Sales, Value, Price, Gross Margin 2016-2021
3.2 NEC Market Performance Analysis
3.2.1 NEC Basic Information
3.2.2 Product and Service Analysis
3.2.3 Strategies for Company to Deal with the Impact of COVID-19
3.2.4 NEC Sales, Value, Price, Gross Margin 2016-2021
3.3 ForgeRock Market Performance Analysis
3.3.1 ForgeRock Basic Information
3.3.2 Product and Service Analysis
3.3.3 Strategies for Company to Deal with the Impact of COVID-19
3.3.4 ForgeRock Sales, Value, Price, Gross Margin 2016-2021
3.4 Thales Group Market Performance Analysis
3.4.1 Thales Group Basic Information
3.4.2 Product and Service Analysis
3.4.3 Strategies for Company to Deal with the Impact of COVID-19
3.4.4 Thales Group Sales, Value, Price, Gross Margin 2016-2021
3.5 Telus Market Performance Analysis
3.5.1 Telus Basic Information
3.5.2 Product and Service Analysis
3.5.3 Strategies for Company to Deal with the Impact of COVID-19
3.5.4 Telus Sales, Value, Price, Gross Margin 2016-2021
3.6 IDEMIA Market Performance Analysis
3.6.1 IDEMIA Basic Information
3.6.2 Product and Service Analysis
3.6.3 Strategies for Company to Deal with the Impact of COVID-19
3.6.4 IDEMIA Sales, Value, Price, Gross Margin 2016-2021
3.7 GBG Market Performance Analysis
3.7.1 GBG Basic Information
3.7.2 Product and Service Analysis
3.7.3 Strategies for Company to Deal with the Impact of COVID-19
3.7.4 GBG Sales, Value, Price, Gross Margin 2016-2021
3.8 Tessi Market Performance Analysis
3.8.1 Tessi Basic Information
3.8.2 Product and Service Analysis
3.8.3 Strategies for Company to Deal with the Impact of COVID-19
3.8.4 Tessi Sales, Value, Price, Gross Margin 2016-2021

4 Market Segment by Type, Historical Data and Market Forecasts
4.1 Global Digital Identity Solutions Production and Value by Type
4.1.1 Global Digital Identity Solutions Production by Type 2016-2021
4.1.2 Global Digital Identity Solutions Market Value by Type 2016-2021
4.2 Global Digital Identity Solutions Market Production, Value and Growth Rate by Type 2016-2021
4.2.1 Biometrics Market Production, Value and Growth Rate
4.2.2 Non-biometrics Market Production, Value and Growth Rate
4.3 Global Digital Identity Solutions Production and Value Forecast by Type
4.3.1 Global Digital Identity Solutions Production Forecast by Type 2021-2026
4.3.2 Global Digital Identity Solutions Market Value Forecast by Type 2021-2026
4.4 Global Digital Identity Solutions Market Production, Value and Growth Rate by Type Forecast 2021-2026
4.4.1 Biometrics Market Production, Value and Growth Rate Forecast
4.4.2 Non-biometrics Market Production, Value and Growth Rate Forecast

5 Market Segment by Application, Historical Data and Market Forecasts
5.1 Global Digital Identity Solutions Consumption and Value by Application
5.1.1 Global Digital Identity Solutions Consumption by Application 2016-2021
5.1.2 Global Digital Identity Solutions Market Value by Application 2016-2021
5.2 Global Digital Identity Solutions Market Consumption, Value and Growth Rate by Application 2016-2021
5.2.1 Bank Market Consumption, Value and Growth Rate
5.2.2 Retail and Commerce Market Consumption, Value and Growth Rate
5.2.3 Government and Defense Market Consumption, Value and Growth Rate
5.2.4 Healthcare Information Technology (IT) and Telecom Market Consumption, Value and Growth Rate
5.2.5 Energy and Utility Market Consumption, Value and Growth Rate
5.2.6 Others Market Consumption, Value and Growth Rate
5.3 Global Digital Identity Solutions Consumption and Value Forecast by Application
5.3.1 Global Digital Identity Solutions Consumption Forecast by Application 2021-2026
5.3.2 Global Digital Identity Solutions Market Value Forecast by Application 2021-2026
5.4 Global Digital Identity Solutions Market Consumption, Value and Growth Rate by Application Forecast 2021-2026
5.4.1 Bank Market Consumption, Value and Growth Rate Forecast
5.4.2 Retail and Commerce Market Consumption, Value and Growth Rate Forecast
5.4.3 Government and Defense Market Consumption, Value and Growth Rate Forecast
5.4.4 Healthcare Information Technology (IT) and Telecom Market Consumption, Value and Growth Rate Forecast
5.4.5 Energy and Utility Market Consumption, Value and Growth Rate Forecast
5.4.6 Others Market Consumption, Value and Growth Rate Forecast

6 Global Digital Identity Solutions by Region, Historical Data and Market Forecasts
6.1 Global Digital Identity Solutions Sales by Region 2016-2021
6.2 Global Digital Identity Solutions Market Value by Region 2016-2021
6.3 Global Digital Identity Solutions Market Sales, Value and Growth Rate by Region 2016-2021
6.3.1 North America
6.3.2 Europe
6.3.3 Asia Pacific
6.3.4 South America
6.3.5 Middle East and Africa
6.4 Global Digital Identity Solutions Sales Forecast by Region 2021-2026
6.5 Global Digital Identity Solutions Market Value Forecast by Region 2021-2026
6.6 Global Digital Identity Solutions Market Sales, Value and Growth Rate Forecast by Region 2021-2026
6.6.1 North America
6.6.2 Europe
6.6.3 Asia Pacific
6.6.4 South America
6.6.5 Middle East and Africa

7 United State Market Size Analysis 2016-2026
7.1 United State Digital Identity Solutions Value and Market Growth 2016-2021
7.2 United State Digital Identity Solutions Sales and Market Growth 2016-2021
7.3 United State Digital Identity Solutions Market Value Forecast 2021-2026

8 Canada Market Size Analysis 2016-2026
8.1 Canada Digital Identity Solutions Value and Market Growth 2016-2021
8.2 Canada Digital Identity Solutions Sales and Market Growth 2016-2021
8.3 Canada Digital Identity Solutions Market Value Forecast 2021-2026

9 Germany Market Size Analysis 2016-2026
9.1 Germany Digital Identity Solutions Value and Market Growth 2016-2021
9.2 Germany Digital Identity Solutions Sales and Market Growth 2016-2021
9.3 Germany Digital Identity Solutions Market Value Forecast 2021-2026

10 UK Market Size Analysis 2016-2026
10.1 UK Digital Identity Solutions Value and Market Growth 2016-2021
10.2 UK Digital Identity Solutions Sales and Market Growth 2016-2021
10.3 UK Digital Identity Solutions Market Value Forecast 2021-2026

11 France Market Size Analysis 2016-2026
11.1 France Digital Identity Solutions Value and Market Growth 2016-2021
11.2 France Digital Identity Solutions Sales and Market Growth 2016-2021
11.3 France Digital Identity Solutions Market Value Forecast 2021-2026

12 Italy Market Size Analysis 2016-2026
12.1 Italy Digital Identity Solutions Value and Market Growth 2016-2021
12.2 Italy Digital Identity Solutions Sales and Market Growth 2016-2021
12.3 Italy Digital Identity Solutions Market Value Forecast 2021-2026

13 Spain Market Size Analysis 2016-2026
13.1 Spain Digital Identity Solutions Value and Market Growth 2016-2021
13.2 Spain Digital Identity Solutions Sales and Market Growth 2016-2021
13.3 Spain Digital Identity Solutions Market Value Forecast 2021-2026

14 Russia Market Size Analysis 2016-2026
14.1 Russia Digital Identity Solutions Value and Market Growth 2016-2021
14.2 Russia Digital Identity Solutions Sales and Market Growth 2016-2021
14.3 Russia Digital Identity Solutions Market Value Forecast 2021-2026

15 China Market Size Analysis 2016-2026
15.1 China Digital Identity Solutions Value and Market Growth 2016-2021
15.2 China Digital Identity Solutions Sales and Market Growth 2016-2021
15.3 China Digital Identity Solutions Market Value Forecast 2021-2026

16 Japan Market Size Analysis 2016-2026
16.1 Japan Digital Identity Solutions Value and Market Growth 2016-2021
16.2 Japan Digital Identity Solutions Sales and Market Growth 2016-2021
16.3 Japan Digital Identity Solutions Market Value Forecast 2021-2026

17 South Korea Market Size Analysis 2016-2026
17.1 South Korea Digital Identity Solutions Value and Market Growth 2016-2021
17.2 South Korea Digital Identity Solutions Sales and Market Growth 2016-2021
17.3 South Korea Digital Identity Solutions Market Value Forecast 2021-2026

18 Australia Market Size Analysis 2016-2026
18.1 Australia Digital Identity Solutions Value and Market Growth 2016-2021
18.2 Australia Digital Identity Solutions Sales and Market Growth 2016-2021
18.3 Australia Digital Identity Solutions Market Value Forecast 2021-2026

19 Thailand Market Size Analysis 2016-2026
19.1 Thailand Digital Identity Solutions Value and Market Growth 2016-2021
19.2 Thailand Digital Identity Solutions Sales and Market Growth 2016-2021
19.3 Thailand Digital Identity Solutions Market Value Forecast 2021-2026

20 Brazil Market Size Analysis 2016-2026
20.1 Brazil Digital Identity Solutions Value and Market Growth 2016-2021
20.2 Brazil Digital Identity Solutions Sales and Market Growth 2016-2021
20.3 Brazil Digital Identity Solutions Market Value Forecast 2021-2026

21 Argentina Market Size Analysis 2016-2026
21.1 Argentina Digital Identity Solutions Value and Market Growth 2016-2021
21.2 Argentina Digital Identity Solutions Sales and Market Growth 2016-2021
21.3 Argentina Digital Identity Solutions Market Value Forecast 2021-2026

22 Chile Market Size Analysis 2016-2026
22.1 Chile Digital Identity Solutions Value and Market Growth 2016-2021
22.2 Chile Digital Identity Solutions Sales and Market Growth 2016-2021
22.3 Chile Digital Identity Solutions Market Value Forecast 2021-2026

23 South Africa Market Size Analysis 2016-2026
23.1 South Africa Digital Identity Solutions Value and Market Growth 2016-2021
23.2 South Africa Digital Identity Solutions Sales and Market Growth 2016-2021
23.3 South Africa Digital Identity Solutions Market Value Forecast 2021-2026

24 Egypt Market Size Analysis 2016-2026
24.1 Egypt Digital Identity Solutions Value and Market Growth 2016-2021
24.2 Egypt Digital Identity Solutions Sales and Market Growth 2016-2021
24.3 Egypt Digital Identity Solutions Market Value Forecast 2021-2026

25 UAE Market Size Analysis 2016-2026
25.1 UAE Digital Identity Solutions Value and Market Growth 2016-2021
25.2 UAE Digital Identity Solutions Sales and Market Growth 2016-2021
25.3 UAE Digital Identity Solutions Market Value Forecast 2021-2026

26 Saudi Arabia Market Size Analysis 2016-2026
26.1 Saudi Arabia Digital Identity Solutions Value and Market Growth 2016-2021
26.2 Saudi Arabia Digital Identity Solutions Sales and Market Growth 2016-2021
26.3 Saudi Arabia Digital Identity Solutions Market Value Forecast 2021-2026

27 Market Dynamic Analysis and Development Suggestions
27.1 Market Drivers
27.2 Market Development Constraints
27.3 PEST Analysis
27.3.1 Political Factors
27.3.2 Economic Factors
27.3.3 Social Factors
27.3.4 Technological Factors
27.4 Industry Trends Under COVID-19
27.4.1 Risk Assessment on COVID-19
27.4.2 Assessment of the Overall Impact of COVID-19 on the Industry
27.4.3 Pre COVID-19 and Post COVID-19 Market Scenario
27.5 Market Entry Strategy Analysis
27.5.1 Market Definition
27.5.2 Client
27.5.3 Distribution Model
27.5.4 Product Messaging and Positioning
27.5.5 Price
27.6 Advice on Entering the Market

Quality Assurance Process

  1. We Market Research’s Quality Assurance program strives to deliver superior value to our clients.

We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.

Market Research Process




We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.

To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
  • Project kickoff meeting with client
  • Conduct frequent client communications
  • Form project steering committee
  • Assign a senior SR executive as QA Executive
  • Conduct internal editorial & quality reviews of project deliverables
  • Certify project staff in SR methodologies & standards
  • Monitor client satisfaction
  • Monitor realized value post-project

Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached Straits Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2028.


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