Industry Background:
Digital identity management solutions evolved from passwords to biometric authentication, such as fingerprint, facial recognition, retina or eye scan, handprint, and voice recognition. Digital Identity Solution help in replacing outdated point solutions with a single identity platform that supports the tools of the modern digital era, Reduce cost and complexity of identity operations while improving the overall security posture of your organization and advantage of the flexibility and pricing benefits of the new era of SaaS-delivered solutions
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | NEC (Japan), Samsung SDS (United Kingdom), Thales Group(France), GBG (United Kingdom), Telus (Canada), IDEMIA (France), Tessi (France), ForgeRock (United States), Jumio (United States), Refinitiv (United Kingdon) and Duo Security (Cisco) (United States) |
This growth is primarily driven by Rising Identity and Authentication Frauds and Integration of Biometrics in Smartphones.
Globally, a noticeable market trend is evident Increased Focus to Enhance End to End Customer Experience
The Internet Software & Services sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as NEC (Japan), Samsung SDS (United Kingdom), Thales Group(France), GBG (United Kingdom), Telus (Canada), IDEMIA (France), Tessi (France), ForgeRock (United States), Jumio (United States), Refinitiv (United Kingdon) and Duo Security (Cisco) (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth.
Key Developments in the Market:
In January 2020, under the partnership of Thales Group with the Australian government, Thales delivered the digital identity-based license to Australia.
In December 2019, GBG and What3words entered into a partnership to enhance location data for retailers and logistic companies for reaching niche markets easily.
Influencing Trend:
Increased Focus to Enhance End to End Customer Experience and Wide Adoption of Authentication Across Verticals
Market Growth Drivers:
Rising Identity and Authentication Frauds and Integration of Biometrics in Smartphones
Challenges:
Threat of Privacy and Data Breach and Lack of Skilled Security Professionals
Restraints:
Higher Cost Involved in Deploying Digital Identity Solutions and Lack of Information Security of Consumer Data
Opportunities:
Integration of AI, ML, and Blockchain Technologies to Enhance Digital Identities and Increased Adoption of the Cloud-Based Digital Identity Solutions
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Digital Identity Solutions Market
- Analysis about New Entrants in Digital Identity Solutions Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Digital Identity Solutions Study Sheds Light on
The Digital Identity Solutions Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Digital Identity Solutions industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Digital Identity Solutions industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.