The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Rising cybercrime and fraud are projected to encourage innovation in the manufacturing of digital identity solutions, boosting the market over the forecast period.

The global digital identity solutions market is expected to grow from $27.87 billion in 2022 to $32.94 billion in 2023 at a compound annual growth rate (CAGR) of 18.17%. The global digital identity solutions market is expected to reach $65.38 billion in 2027 at a CAGR of 18.70%.

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Global Digital Identity Solutions Market Segments Include:

• By Offering: Solutions, Services
• By Solution Type: Identity Verification, Authentication, Identity Lifecycle Management, Other Types
• By Identity Type: Biometrics, Non Biometrics
• By Deployment Mode: On Premises, Cloud
• By Vertical: BFSI, Retail And E-Commerce, Government And Defense, Healthcare, IT And Telecommunication, Energy And Utilities, Other Verticals
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global digital identity solutions market in 2021.

Major Market Players in the digital identity solutions market include NEC Corporation, Samsung SDS Co. Ltd., Thales Group, GB Group Plc., Telus Communications Inc., Tessi International, Daon Inc., IDEMIA, ForgeRock Inc., ImageWare Systems Inc.

Technological advancements are a key trend gaining popularity in the market for digital identity solutions. Major companies operating in the digital identity solutions market are focused on developing new technological solutions to strengthen their position in the market. For instance, in January 2022, Samsung SDS Co. Ltd., a South Korea-based provider of information technology services, launched the S3B512C, a smart and all-in-one new fingerprint security IC. With its uniquely designed fingerprint sensor, Secure Element (SE)and Secure Processor, payment cards now have an additional layer of authentication and security. The new security IC is the first all-in-one security chip solution available in the market that can read biometric data from a fingerprint sensor, store and authenticate encrypted data with a tamper-proof SE (Secure Element) and process and analyze data with a Secure Processor. The new security IC is the market’s first all-in-one security chip solution, capable of reading biometric data from a fingerprint sensor, storing and authenticating encrypted data with a tamper-resistant SE (Secure Element), and processing and analysing data with a Secure Processor.

The Digital Identity Solutions Global Market Report 2023  provides a digital identity solutions market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The digital identity solutions market forecast analyzes digital identity solutions market size, digital identity solutions market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Digital identity solutions are online or networked identities based on open standards that a person, corporation, or electronic device adopts or claims in cyberspace. It is also referred to as self-sovereign identity. They are used to detect cyber dangers and cut costs for businesses.

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