Global demand for the Digital Identity Solutions market was valued over USD 13.10 billion in 2019 and is expected to reach a CAGR of 17.5% between 2019 and 2025. Biometric authentication, which includes facial recognition, fingerprint, handprint, retina or eye scan, and voice recognition, is included in digital identification systems. Every individual’s biometric traits or digital identities are unique. It uses lock-and-capture mechanisms to authenticate the user and grant them access to a limited selection of services. Traditional identity verification methods, which rely on static certifications, are less secure than digital identity solutions. Traditionally, identity verification has been accomplished by direct human interaction and physical examination of government-issued documents.
The expansion of the digital identification solution market is fueled by numerous benefits provided by digital identity solutions, such as quick processing times, high accuracy, improved security, fewer operational costs, and improved customer experience. Furthermore, the market’s growth is fueled by a huge trend toward digitalization as well as an increase in identity and authentication fraud. The cost of the devices and software required to deploy digital identification solutions, on the other hand, is considerable, which may limit their global acceptance. Furthermore, a rise in the adoption of cloud-based identity verification systems and an increase in the integration of Machine Learning (ML) and Artificial Intelligence (AI) with a digital identity solution system are expected to create lucrative growth opportunities in the market during the forecast period.
Key market player information
Top Leading Market Players Covered in this Report are : Thales Group, NEC, GBG PLC, Telus Corp., Jumio, Samsung SDS, IDEMIA, Refinitiv, ForgeRock, Vintegris Tech, Duo Security, AU10TIX, Tessi, Imageware Systems, Syntizen, Intesa (IBM), Verisec, Signicat, Smartmatic, and RaulWalter..
The global Digital Identity Solutions study includes a thorough examination of the top companies operating in the global Digital Identity Solutions market. The competition analysis is based on market share, product sales, business strength, top rivals, major business categories, and geographic presence of key market players. The report’s competitive analysis will assist readers in highlighting key variables that will assist them in meeting their objectives during the projected period.
Segmentation
The research divides the global Digital Identity Solutions market into segments and sub-segments by analyzing a number of parameters. The Digital Identity Solutions report analysis provides a valuable insight into segment revenue and market share at both the global and country levels. In terms of revenue and volume, the segmentation study details the correct projections and computations. In addition, the research study offers major growth trends and opportunities within Digital Identity Solutions market categories, which will aid in the development of effective corporate growth plans for the forecast period of 2021-2027.
Geographical Information
Users will gain useful insights from a study of the major regions and nations covered in the scope of the report, which will help them better identify investment prospects to expand their business. The statistics based on revenue and market share for distinct regions and countries are included in the report analysis. In addition, the study highlights key trends and opportunities that will aid in the growth of the industry in each region.
Market Segmentation By Types – Cloud And On-Premises
Market Segmentation By Application – Application I, Application II, Etc
The global Digital Identity Solutions market is divided into several areas, including
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa.
COVID-19 Impact
In addition, market values and shares were estimated using current COVID-19 pandemic scenarios on the worldwide Digital Identity Solutions market, which will assist users in better understanding the present market picture and recommending strategic company expansion plans accordingly. During the projection period of 2020 to 2027, the Digital Identity Solutions market is expected to grow at a CAGR of xx %, reaching US$ xx million in 2027, up from US$ xx million in 2020.
Who will get benefit of this report?
- Investors and Private Equity Firms
- Digital Identity Solutions market Providers
- Distributors and Suppliers
- Government and Regulatory organizations
- Several end users.
Why should buy this report from Zion?
- Provides in-depth research study of the total Digital Identity Solutions market, which can assist start-up enterprises in the Digital Identity Solutions market to make decisions on short span.
- The most recent Digital Identity Solutions market news, forecast analysis, and top market rivals are all readily available, together with all relevant information.
- Graphs, pie charts, and other representations are included in the Digital Identity Solutions report to help the reader understand the information at a glance.
- Manufacturers can use the Digital Identity Solutions report to study customer behaviour, business segments, and offer items depending on the information presented.
- The impact of COVID-19 on the market and industry, as well as a recovery analysis
Report Methodology
The Digital Identity Solutions research is based on the most recent industry trends and prospects, along with potential threats, key driving forces, as well as important revenue pockets. The survey was published after conducting extensive secondary research, which included reviewing a number of industry publications, investor articles, official statistics, corporate news, and press releases. All of these studies are backed up by in-depth primary research with C level industry experts, resulting in a revenue forecast for the Digital Identity Solutions market.