Digital Identity Solutions Market
The global digital identity solutions market was valued at USD 27.90 billion in 2022 and is expected to grow at a strong CAGR of 20.4% in the coming years. Growth in this market is driven by increasing demand for secure and convenient digital identification systems, rapid adoption of biometric and multi-factor authentication, and the rising popularity of digital identity wallets.
A key trend shaping the industry is the growing demand for digital identity wallets, which allow users to securely store and manage identity credentials. These wallets make it easier to authenticate identities, share information, and access services while offering users more control over their personal data. With added benefits such as fraud prevention, improved security, and enhanced convenience, digital identity wallets are becoming an important tool for both individuals and businesses.
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At the same time, the growing number of cyberattacks on businesses of all sizes is creating a greater need for secure digital solutions. Small enterprises, in particular, are increasingly targeted due to weaker security systems. Security-enhanced digital identity wallets are helping organizations and individuals protect themselves against such threats.
Key Drivers of Growth
The use of blockchain, Artificial Intelligence (AI), and Machine Learning (ML) in digital identity solutions is a major growth driver. These technologies help improve identity management by enabling faster, safer, and smarter authentication processes.
AI and ML: These tools can analyze user behavior, detect suspicious activity, and automate routine security tasks. They also help improve compliance, reduce risks, and simplify identity management for organizations.
Blockchain: By offering transparent, auditable, and tamper-proof data storage, blockchain gives users control over how their identity data is shared. It also makes credential verification faster and more reliable.
Together, these technologies are creating safer and more efficient digital ecosystems.
Key Challenges
Despite strong growth potential, the market faces challenges related to privacy and data protection. Digital identity systems often require storing sensitive personal data such as biometric information, financial records, and social security numbers. If not secured properly, these systems can become prime targets for cybercriminals.
Users are also concerned about how their personal information is used and shared, especially when stored in centralized databases. Such privacy concerns could limit wider adoption of digital identity solutions.
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Market Insights by Segment
Identity Type:
The biometric segment is expected to hold the largest revenue share. Biometric systems, which rely on unique traits such as fingerprints, iris scans, or facial recognition, are difficult to duplicate and offer stronger security than traditional password-based methods.
The non-biometric segment is also growing steadily, as these solutions-using usernames, passwords, or cryptographic keys-provide better privacy options and allow users more control over their personal information.
Deployment Mode:
The cloud segment is expected to grow rapidly due to its scalability, flexibility, and ease of access. Cloud-based solutions enable users to access identity services anytime and anywhere, improving convenience and efficiency.
The on-premises segment is expected to maintain a significant share, as many organizations prefer direct control over sensitive data. On-premises systems allow businesses to customize security measures and comply with strict regulations, building greater trust among users.
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Some major players included in the global Digital Identity Solutions market report are:
NEC Corporation
SAMSUNG SDS
Thales
George Brown College
TELUS
Tessi
Daon, Inc.
IDEMIA
ForgeRock
Imageware
Digital Identity Solutions Market Market Segmentation Analysis
For the purpose of this report, Emergen Research has segmented global digital identity solutions market on the basis of offering, identity type, solution type, deployment mode, organization size, vertical, and region:
Offering Outlook (Revenue, USD Billion; 2019-2032)
Solution
Services
Identity Type Outlook (Revenue, USD Billion; 2019-2032)
Biometrics
Non-biometrics
Solution Type Outlook (Revenue, USD Billion; 2019-2032)
Identity Verification
Authentication
Identity Lifecycle Management
Others
Deployment Mode Outlook (Revenue, USD Billion; 2019-2032)
Cloud
On-premises
Organization Size Outlook (Revenue, USD Billion; 2019-2032
Small and Medium Enterprises (SMEs)
Large Enterprises
Vertical Outlook (Revenue, USD Billion; 2019-2030)
Banking, Financial Services and Insurance (BFSI)
Retail & eCommerce
Healthcare & Life Sciences
Information Technology (IT) & Information Technology Enabled Services (ITES)
Media & Entertainment
Telecom
Energy and Utilities
Government and Defense
Other Verticals
Regional Outlook (Revenue, USD Billion; 2019-2032)
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
Israel
Rest of Middle East & Africa
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