Introduction :
The digital identity solutions market is growing rapidly, driven by the increasing demand for secure and convenient ways to authenticate and verify users online. Digital identity solutions enable users to create and manage digital representations of their identities, which can then be used to access a wide range of online services, such as banking, government services, and e-commerce.
In 2022, the Global Digital Identity Solutions Market was valued at US$ 28 Billion and will reach US$ 131.6 billion by 2032. Between 2023 and 2032, this market is estimated to register the highest CAGR of 17.2 %.
Following are top 5 companies
- NEC Corporation:
NEC Corporation of Tokyo, Japan, is a global leader in information technology and networking solutions. Established in 1899, this century-old company boasts an illustrious legacy of technological innovations that spans multiple fields such as IT, telecom and electronics and provides products and services across numerous categories.NEC stands out for its cutting-edge research and development in areas such as artificial intelligence, biometrics and cybersecurity. As proof of their dedication to innovation is their impressive portfolio of patents and contributions made towards various technological standards.
- Accenture:
Based in Dublin, Ireland, Accenture is a multinational professional services firm known for its expertise in consulting, digital technology and outsourcing services. Offering these services globally with highly trained professionals on its team to support businesses in reaching their strategic objectives and digital transformation.Accenture provides services spanning strategy and consulting to technology and operational solutions, with special expertise in artificial intelligence (AI), blockchain and cloud computing - helping clients leverage these cutting-edge tools for competitive advantage.
- Deloitte:
One of the "Big Four" accounting and professional services firms, Deloitte provides an array of audit, assurance, consulting, risk management and tax advisory services from its headquarters in New York to clients worldwide - governments, corporations and non-profit organizations alike.Deloitte is widely respected for its commitment to innovation and advanced technology solutions within their services, while their thought leadership and research initiatives contribute significantly to industry knowledge, making Deloitte an invaluable partner when dealing with complex business challenges.
- Imageware Systems Inc.:
Imageware Systems Inc. of California offers biometric identity management solutions. Their biometric authentication and identity verification products cover industries including healthcare, law enforcement and finance - providing secure yet user-friendly methods of verifying individual identities while improving security and user experience.
- GB Group :
GB Group plc of the UK is a global leader in identity data intelligence. Their services specialize in identity verification, fraud prevention, and location intelligence solutions. In an age where digital identities have become essential to daily life and businesses must comply with regulatory requirements while building customer trust - particularly important within sectors like financial services or e-commerce - these solutions from GB Group play an essential role.
Suggested reading:
Global Digital Identity Solutions Market By Component (Solutions and Services), By Identity Type, By Solution Type, By Deployment Mode, By End-Use Industry, By Region and Companies – Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023 – 2032
Recent trends
- Increased Demand for Online Services: The COVID-19 pandemic has hastened the shift toward online services, and this trend should continue in post-pandemic settings. As more people access them online, more secure and efficient methods must be found for verifying identity.
- Rising concerns over identity theft and fraud: Identity theft and fraud have become major problems, with businesses and governments increasingly looking for ways to safeguard customers and citizens against identity theft and fraud. Digital identity solutions may provide one such safeguard by offering secure methods for verifying identities.
- Biometric Adoption Trends: Biometric technologies like fingerprint and facial recognition are becoming more commonly adopted for identity verification due to their inherently more secure nature, being hard for fraudsters to falsify.
- Government Regulations: Governments around the world are passing more regulations that require businesses to implement digital identity solutions, including EU's General Data Protection Regulation (GDPR), which mandates getting user consent before collecting personal data. Digital identity solutions help ensure businesses comply with such regulations.
