Industry Background:
Citizen Digital Identity promises a vision of improved outcomes for citizens and governments that is secure and private. The global citizen digital identity market is expected to witness high demand in the forecasted period due to the COVID-19 pandemic. The market growth is driven by various factors, such as rising identity and authentication frauds, increased integration of biometrics in smartphones, and increased focus on enhanced end-to-end customer experience, which have contributed considerable share into the digital identity solutions ecosystem market.This growth is primarily driven by Increasing Number of Identity Related Frauds and Data Breaches
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Internet Software & Services sector in the
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 PLC (United Kingdom), Telus Corp. (Canada), IDEMIA (France), Tessi (France), ForgeRock (United States), Jumio (United States) and Refinitiv (United Kingdom), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In 2019, Jumio, the leading AI-powered trusted identity as a service provider, today announced the beta release of Jumio Go, the company’s first real-time, fully automated identity verification solution. It is designed to remove friction from the user onboarding process, while still fighting online identity fraud and meeting AML and KYC compliance mandates.The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Influencing Trend:
Stringent Regulations and Need for Compliance and Huge Demand for Digital Identity Verification Solutions
Market Growth Drivers:
Increasing Number of Identity Related Frauds and Data Breaches and High Demand due to Enterprise Mobility
Challenges:
Data Theft or Identity Theft Is a Major Challenge
Restraints:
Budgetary Limitations Inhibiting the Adoption of Digital Identity Solutions
Opportunities:
Technology Enhancement with Integration of AI and Ml Technologies
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 mainly 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 market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Citizen Digital Identity Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Citizen Digital Identity Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Citizen Digital Identity players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
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
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Citizen Digital Identity Study Sheds Light on
The Citizen Digital Identity Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Citizen Digital Identity industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Citizen Digital Identity 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.