Digital Credential Management Software Global Market Report 2024

Description

Digital credential management software is a platform designed to securely store, manage, distribute, and authenticate digital identities, credentials, and certificates. This software facilitates the streamlined issuance, tracking, and management of digital certificates and credentials across an organization's infrastructure, ensuring security and efficiency in credential management processes.

The primary components of digital credential management software consist of the software itself and associated services. The software comprises a set of programs enabling hardware to execute specific tasks, deployable in various modes such as cloud-based or on-premises. These solutions cater to both large enterprises and small to medium-sized enterprises, serving a wide range of industries including education, healthcare, banking and financial services, government, information technology, telecommunications, and others.

The digital credential management software market research report is one of a series of new reports from The Business Research Company that provides digital credential management software market statistics, including digital credential management software industry global market size, regional shares, competitors with a digital credential management software market share, detailed digital credential management software market segments, market trends and opportunities, and any further data you may need to thrive in the digital credential management software industry. This digital credential management software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The digital credential management software market size has grown rapidly in recent years. It will grow from $2.03 billion in 2023 to $2.29 billion in 2024 at a compound annual growth rate (CAGR) of 12.8%. The growth observed during the historic period can be attributed to several factors. These include the necessity for regulatory compliance, increased adoption of cloud computing, the emergence of Internet of Things (IoT) devices, industry-specific demands, and heightened concerns regarding data security.

The digital credential management software market size is expected to see rapid growth in the next few years. It will grow to $3.76 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%. The anticipated growth in the forecast period can be attributed to several key factors. These include the adoption of the zero trust security model, decentralized identity management approaches, the prevalence of mobile-centric solutions, ongoing emphasis on regulatory compliance, and the integration of privacy-preserving technologies. Major trends expected during this period include advancements in biometric authentication methods, the rise of risk-based authentication approaches, the evolution of self-sovereign identity frameworks, a focus on credential lifecycle management strategies, and the development of enhanced user experience solutions.

The expanding adoption of cloud services is poised to drive the growth of the digital credential management software market. Cloud services, encompassing a range of computing resources and applications delivered over the internet via subscription, are on the rise due to their facilitation of remote work, support for digital transformation, and alignment with modern businesses' scalability and agility requirements. Within digital credential management software, cloud services play a vital role in furnishing secure and scalable storage, access, and administration of digital identities and certificates across distributed environments. For instance, as per reports from AAG IT in February 2024, Infrastructure as a Service (IaaS) public cloud service revenue surged from $343 billion in 2021 to $415 billion in 2022, highlighting the pivotal role of cloud service adoption in propelling the digital credential management software market's growth.

Major players in the digital credential management software market are investing in innovative technologies such as the Decentralized Identity and Credential Exchange (DICE) platform to bolster their competitiveness and profitability. The DICE platform is engineered to facilitate the secure and efficient exchange of digital identities and credentials among diverse entities or organizations. For example, Wipro Limited unveiled the Decentralized Identity and Credential Exchange (DICE) platform in February 2023, harnessing blockchain technology to enable the issuance and verification of tamper-proof digital credentials. This platform empowers users to securely share private information online without necessitating contact with the issuing organization for verification. By leveraging blockchain, DICE ID securely stores credential structures, ensuring privacy while enabling rapid verification. Designed to revolutionize credential exchange, the platform offers a trustworthy solution catering to industries such as healthcare, education, and freelance sectors.

In January 2022, Pearson plc bolstered its position in the digital credential management sector through the acquisition of Credly Inc. for $200 million. This strategic move is poised to expand Pearson's credentialing services, augment its digital capabilities, and reinforce its market leadership. Credly Inc., a US-based software company specializing in digital credential management software, brings expertise and technology to enhance Pearson's offerings in this domain.

Major companies operating in the digital credential management software market are Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, Salesforce Inc., Thales Group, Symantec Corporation, Atlassian Corporation Plc, Okta Inc., HID Global Corporation, RSA Security LLC, Entrust Corporation, CyberArk Software Ltd., SailPoint Technologies Holdings Inc., Ping Identity Corporation, Centrify Corporation, OneLogin Inc., Vottun, SimpleCert, Portfolium Inc., Sertifier, Concentric Sky, MyKnowledgeMap, Auth0 Inc.

North America was the largest region in the digital credential management software market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the digital credential management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the digital credential management software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The digital credential management software market includes revenues earned by entities by providing services such as identity verification, credential issuance, credential lifecycle management, authentication, and access control. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Including: 1) By Component: Software; Service
2) By Deployment Mode: Cloud Based; On Premises
3) By Application: Large Enterprises; Small And Medium Sized Enterprises
4) By End Use Industry: Education; Healthcare; Banking Financial Services And Insurance (BFSI); Government; Information Technology And Telecommunication
Covering: Microsoft Corporation; International Business Machines Corporation; Oracle Corporation; Salesforce Inc.; Thales Group

Product Code: r17338

1. Executive Summary

2. Digital Credential Management Software Market Characteristics

3. Digital Credential Management Software Market Trends And Strategies

4. Digital Credential Management Software Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Digital Credential Management Software Market Size and Growth

5.1. Global Digital Credential Management Software Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Digital Credential Management Software Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Digital Credential Management Software Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Digital Credential Management Software Market Segmentation

6.1. Global Digital Credential Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Software
Service
6.2. Global Digital Credential Management Software Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Cloud Based
On Premises
6.3. Global Digital Credential Management Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Large Enterprises
Small And Medium Sized Enterprises
6.4. Global Digital Credential Management Software Market, Segmentation By End Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Education
Healthcare
Banking Financial Services And Insurance (BFSI)
Government
Information Technology And Telecommunication
Other End-Use Industries

7. Digital Credential Management Software Market Regional And Country Analysis

7.1. Global Digital Credential Management Software Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Digital Credential Management Software Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Digital Credential Management Software Market

8.1. Asia-Pacific Digital Credential Management Software Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Digital Credential Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Digital Credential Management Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Digital Credential Management Software Market, Segmentation By End Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Digital Credential Management Software Market

9.1. China Digital Credential Management Software Market Overview
9.2. China Digital Credential Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Digital Credential Management Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Digital Credential Management Software Market, Segmentation By End Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Digital Credential Management Software Market

10.1. India Digital Credential Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Digital Credential Management Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Digital Credential Management Software Market, Segmentation By End Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Digital Credential Management Software Market

11.1. Japan Digital Credential Management Software Market Overview
11.2. Japan Digital Credential Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Digital Credential Management Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Digital Credential Management Software Market, Segmentation By End Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Digital Credential Management Software Market

12.1. Australia Digital Credential Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Digital Credential Management Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Digital Credential Management Software Market, Segmentation By End Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Digital Credential Management Software Market

13.1. Indonesia Digital Credential Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Digital Credential Management Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Digital Credential Management Software Market, Segmentation By End Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Digital Credential Management Software Market

14.1. South Korea Digital Credential Management Software Market Overview
14.2. South Korea Digital Credential Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Digital Credential Management Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Digital Credential Management Software Market, Segmentation By End Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Digital Credential Management Software Market

15.1. Western Europe Digital Credential Management Software Market Overview
15.2. Western Europe Digital Credential Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Digital Credential Management Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Digital Credential Management Software Market, Segmentation By End Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Digital Credential Management Software Market

16.1. UK Digital Credential Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Digital Credential Management Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Digital Credential Management Software Market, Segmentation By End Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Digital Credential Management Software Market

17.1. Germany Digital Credential Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Digital Credential Management Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Digital Credential Management Software Market, Segmentation By End Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Digital Credential Management Software Market

18.1. France Digital Credential Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Digital Credential Management Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Digital Credential Management Software Market, Segmentation By End Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Digital Credential Management Software Market

19.1. Italy Digital Credential Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Digital Credential Management Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Digital Credential Management Software Market, Segmentation By End Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Digital Credential Management Software Market

20.1. Spain Digital Credential Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Digital Credential Management Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Digital Credential Management Software Market, Segmentation By End Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Digital Credential Management Software Market

21.1. Eastern Europe Digital Credential Management Software Market Overview
21.2. Eastern Europe Digital Credential Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Digital Credential Management Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Digital Credential Management Software Market, Segmentation By End Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Digital Credential Management Software Market

22.1. Russia Digital Credential Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Digital Credential Management Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Digital Credential Management Software Market, Segmentation By End Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Digital Credential Management Software Market

23.1. North America Digital Credential Management Software Market Overview
23.2. North America Digital Credential Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Digital Credential Management Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Digital Credential Management Software Market, Segmentation By End Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Digital Credential Management Software Market

24.1. USA Digital Credential Management Software Market Overview
24.2. USA Digital Credential Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Digital Credential Management Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Digital Credential Management Software Market, Segmentation By End Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Digital Credential Management Software Market

25.1. Canada Digital Credential Management Software Market Overview
25.2. Canada Digital Credential Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Digital Credential Management Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Digital Credential Management Software Market, Segmentation By End Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Digital Credential Management Software Market

26.1. South America Digital Credential Management Software Market Overview
26.2. South America Digital Credential Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Digital Credential Management Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Digital Credential Management Software Market, Segmentation By End Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Digital Credential Management Software Market

27.1. Brazil Digital Credential Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Digital Credential Management Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Digital Credential Management Software Market, Segmentation By End Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Digital Credential Management Software Market

28.1. Middle East Digital Credential Management Software Market Overview
28.2. Middle East Digital Credential Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Digital Credential Management Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Digital Credential Management Software Market, Segmentation By End Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Digital Credential Management Software Market

29.1. Africa Digital Credential Management Software Market Overview
29.2. Africa Digital Credential Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Digital Credential Management Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Digital Credential Management Software Market, Segmentation By End Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Digital Credential Management Software Market Competitive Landscape And Company Profiles

30.1. Digital Credential Management Software Market Competitive Landscape
30.2. Digital Credential Management Software Market Company Profiles
- 30.2.1. Microsoft Corporation
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. International Business Machines Corporation
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Oracle Corporation
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Salesforce Inc.
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Thales Group
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Digital Credential Management Software Market Other Major And Innovative Companies

31.1. Symantec Corporation
31.2. Atlassian Corporation Plc
31.3. Okta Inc.
31.4. HID Global Corporation
31.5. RSA Security LLC
31.6. Entrust Corporation
31.7. CyberArk Software Ltd.
31.8. SailPoint Technologies Holdings Inc.
31.9. Ping Identity Corporation
31.10. Centrify Corporation
31.11. OneLogin Inc.
31.12. Vottun
31.13. SimpleCert
31.14. Portfolium Inc.
31.15. Sertifier

32. Global Digital Credential Management Software Market Competitive Benchmarking

33. Global Digital Credential Management Software Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Digital Credential Management Software Market

35. Digital Credential Management Software Market Future Outlook and Potential Analysis

35.1 Digital Credential Management Software Market In 2028 - Countries Offering Most New Opportunities
35.2 Digital Credential Management Software Market In 2028 - Segments Offering Most New Opportunities
35.3 Digital Credential Management Software Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer