Digital Identity Market Overview
The digital identity market share is an emerging sector that provides a suite of services for businesses, organizations, and individuals to verify and authenticate their identities in the digital space. This includes services such as identity management, access control, and authentication. The digital identity market is estimated to grow at a CAGR of 23.6% from 2023 to 2032, reaching a market value of $428.2 billion by the end of the forecast period.
Key Companies
The key players in the digital identity market include,
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NEC (Japan)
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Samsung SDS (South Korea)
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Thales (France)
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Telus (Canada)
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IDEMIA (France)
- GBG (UK)
- Tessi (France)
- Daon (US)
- ForgeRock (US)
- ImageWare (US)
- Jumio (US)
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iProov (UK)
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ID R&D (US)
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Refinitiv (UK)
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OneSpan (US)
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Smartmatic (UK)
These companies are leveraging their expertise in identity-related services to provide comprehensive solutions to businesses, organizations, and individuals.
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Industry Latest News
Microsoft recently announced a partnership with Columbia University to provide a range of digital identity services, including identity verification, digital identity protection, and access control. The partnership marks a major milestone in the digital identity market, as it marks the first time a major tech company has partnered with an academic institution to provide digital identity services.
Market Opportunities
The digital identity market is set to witness significant growth in the coming years, as the demand for secure and reliable digital identity is increasing. Companies are investing heavily in developing innovative solutions to enhance the security and reliability of digital identities. This is opening up new opportunities for companies to provide comprehensive solutions to businesses and organizations.
Market Segmentation
The digital identity market is segmented based on type, application, and region. By type, the market is segmented into identity management, access control, authentication, and other. By application, the market is segmented into BFSI, government, healthcare, retail, and other. By region, the market is segmented into North America, Europe, Asia Pacific, and rest of the world.
Regional Insights
North America is expected to be the largest market for digital identity, due to the presence of major players in the region. The presence of well-developed IT infrastructure, increasing adoption of digital identity solutions, and high demand for secure and reliable digital identities are driving the growth of the market in North America. Europe is expected to witness significant growth, due to the presence of major players in the region. Asia Pacific is expected to be the fastest-growing market for digital identity, due to the increasing demand for secure digital identities and rising adoption of digital identity solutions.
Conclusion
The digital identity market is expected to witness significant growth in the coming years, due to the increasing demand for secure and reliable digital identities. Companies are investing heavily in the development of innovative solutions to provide comprehensive digital identity solutions to businesses, organizations, and individuals. The presence of key players in the market is also driving the growth of the market.
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