Digital Identity Solution Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

The Global Digital Identity Solution Market size is projected to record over 16% CAGR from 2024 to 2032, led by rising demand for remote authentication and a consistent influx of new product launches.

In a digital-first era, organizations are turning to digital identity solutions to secure online service access and protect user identities. The incorporation of biometric authentication, AI, and blockchain is bolstering the security and trustworthiness of these systems to cater to the escalating demand for remote access across diverse sectors. For example, in June 2024, SKatsh Digital ID unveiled its groundbreaking biometric authentication technology, setting a new benchmark in digital security by eliminating passwords and fortifying defenses against identity theft.

The overall market is segregated into component, authentication type, deployment mode, type, organization size, end-user, and region.

Based on component, the digital identity solution market value from the services segment is estimated to rise at a significant rate from 2024 to 2032, driven by the rising demand for effective deployment and management of identity verification systems. These services are customized to address organizational needs as well as facilitate integration, user onboarding, and adherence to security standards. Furthermore, managed services are increasingly utilized to navigate the complexities of digital identity ecosystems, ensuring continuous monitoring, maintenance, and updates for optimal security and efficiency.

Digital identity solution industry value from the small and medium-sized enterprises (SME) organization size segment is anticipated to expand at a substantial CAGR through 2032. This surge is attributed to the heightened focus of SME on security and operational efficiency, especially in light of the growing prevalence of remote work and digital transactions. As these enterprises seek to safeguard sensitive data and meet security compliance, the evolving nature of digital identity solutions is simplifying the implementation of robust security measures, enabling SME to navigate the digital landscape securely and efficiently.

Regionally, the Europe digital identity solution market size is projected to depict a robust CAGR between 2024 and 2032, on account of the expansion of mobile banking and payments. As more individuals and businesses are embracing mobile financial services, the demand for secure and efficient digital identity solutions is increasing. Digital identity solutions are being integrated with mobile platforms to offer enhanced authentication, fraud prevention, and streamlined user experiences. This progress is shaping a more secure digital environment for addressing the growing need for reliable identity verification in an increasingly mobile-centric financial landscape across the region.

Product Code: 6198

Chapter 1 Methodology and Scope

1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
1.2 Base estimates and calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimates
1.3 Forecast model
1.4 Primary research and validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
1.5 Market definitions

Chapter 2 Executive Summary

2.1 Industry 360° synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Supplier landscape
- 3.2.1 Technology providers
- 3.2.2 Biometric companies
- 3.2.3 Cybersecurity firms
- 3.2.4 Consulting and integration firms
- 3.2.5 Identity verification service providers
3.3 Profit margin analysis
3.4 Technology and innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.7 Regulatory landscape
3.8 Impact forces
- 3.8.1 Growth drivers
  - 3.8.1.1 Growing adoption of connected technology including AI, IoT, and cloud computing
  - 3.8.1.2 Rise in demand for digital identity verification
  - 3.8.1.3 Increasing adoption of mobile and cloud-based Services
  - 3.8.1.4 Rising Concerns about Identity Theft and Fraud
  - 3.8.1.5 Increasing regulatory compliance and data privacy requirements
- 3.8.2 Industry pitfalls and challenges
  - 3.8.2.1 Security and privacy concerns
3.9 Growth potential analysis
3.10 Porter's analysis
3.11 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates and Forecast, By Component, 2021 - 2032 ($Bn)

5.1 Key trends
5.2 Solutions
- 5.2.1 Identity verification
- 5.2.2 Authentication
- 5.2.3 Digital ID wallets
- 5.2.4 Access management
- 5.2.5 Others
5.3 Services
- 5.3.1 Professional
- 5.3.2 Managed

Chapter 6 Market Estimates and Forecast, By Authentication Type, 2021 - 2032 ($Bn)

6.1 Key trends
6.2 Single-factor authentication
6.3 Multi-factor authentication (MFA)
- 6.3.1 Two-factor authentication (2FA)
- 6.3.2 Three-factor authentication (3FA)

Chapter 7 Market Estimates and Forecast, By Deployment Mode, 2021 - 2032 ($Bn)

7.1 Key trends
7.2 On-premises
7.3 Cloud-based

Chapter 8 Market Estimates and Forecast, By Type, 2021 - 2032 ($Bn)

8.1 Key trends
8.2 Biometric
8.3 Non-Biometric

Chapter 9 Market Estimates and Forecast, By Organization Size, 2021 - 2032 ($Bn)

9.1 Key trends
9.2 Large enterprises
9.3 Small and medium-sized enterprises (SME)

Chapter 10 Market Estimates and Forecast, By End-user, 2021 - 2032 ($Bn)

10.1 Key trends
10.2 BFSI
10.3 IT and Telecom
10.4 Healthcare
10.5 Education
10.6 Manufacturing
10.7 Retail and e-commerce
10.8 Government and public sector
10.9 Others

Chapter 11 Market Estimates and Forecast, By Region, 2021 - 2032 ($Bn)

11.1 Key trends
11.2 North America
- 11.2.1 U.S.
- 11.2.2 Canada
11.3 Europe
- 11.3.1 UK
- 11.3.2 Germany
- 11.3.3 France
- 11.3.4 Italy
- 11.3.5 Spain
- 11.3.6 Russia
- 11.3.7 Nordics
- 11.3.8 Rest of Europe
11.4 Asia Pacific
- 11.4.1 China
- 11.4.2 India
- 11.4.3 Japan
- 11.4.4 South Korea
- 11.4.5 ANZ
- 11.4.6 Southeast Asia
- 11.4.7 Rest of Asia Pacific
11.5 Latin America
- 11.5.1 Brazil
- 11.5.2 Mexico
- 11.5.3 Argentina
- 11.5.4 Rest of Latin America
11.6 MEA
- 11.6.1 South Africa
- 11.6.2 UAE
- 11.6.3 Saudi Arabia
- 11.6.4 Rest of MEA

Chapter 12 Company Profiles

12.1 Auth0, Inc.
12.2 Daon, Inc.
12.3 ForgeRock, Inc.
12.4 GB Group plc
12.5 HID Global Corporation
12.6 IBM Corporation
12.7 IDEMIA
12.8 Imageware
12.9 Jumio Corporation
12.10 Microsoft Corporation
12.11 NEC Corporation
12.12 Okta, Inc.
12.13 OneLogin, Inc.
12.14 Onfido Ltd.
12.15 Ping Identity Corporation
12.16 RSA Security LLC (a subsidiary of Dell Technologies)
12.17 Signicat AS
12.18 TELUS
12.19 Tessi
12.20 Thales Group