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Pulished Date April, 2021
ID: 9576
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Global Digital Identity Solutions Market Research Report – Segmentation by Solution (Biometrics and Non-Biometrics), Authentication Type (Single Factor and Multifactorial), Deployment Mode (Cloud and On-Site), Organization Size (SMEs and Large Enterprises), Vertical (Banking, financial services and insurance (BFSI), Retail and Electronic Commerce, Government and Defense, Healthcare, Information technology (IT) and Telecommunications, Energy and Public Services, and Others), and Region - Forecast to 2026

Pulished: April, 2021
ID: 9576
Pages: 150

Global Digital Identity Solutions Market Size & Growth (2020 – 2025)

The global digital identity solutions market is projected to develop from $ 15 billion in 2019 to $ 31.1 billion by 2025, at a CAGR of about 17.3% from 2020 to 2025. This can be attributed to the increasing integration of biometrics in smartphones and other industries.

Digital identity allows applications, systems and services to identify the person or anyone with whom they interact. Its capabilities include privileged access management, blockchain, and biometrics, as well as identity and access management. Increasing digitization has brought efficiency and ease in several complex processes. However, with the increase in digitization, there is always a risk of security breaches and personal information. As a result, the demand for digital identity solutions is increasing as it enables devices to identify who they are interacting with.

Recent developments:

  • In January 2020, as part of the Thales group's partnership with the Australian government, Thales issued a digital identity-based license to Australia.
  • In December 2019, GBG and What3words made a deal to improve location data for retailers and logistics companies in order to easily reach niche markets.
  • In December 2019, Telus Corp. launched SHAKEN/STIR for signature-based processing of claimed information using tokens and revised standards for secure telephone identity. Telus launched this call validation technology to combat automatic calls.
  • In September 2019, Seven Bank and NEC Corporation joined hands to develop a next-generation digital identity-based ATM, equipped with a facial recognition engine and a QR code. The ATM was to be installed to replace older machines from September 2019.
  • In September 2019, IDEMIA launched MFace Flex, which is a facial biometric solution, to simplify the user experience and the flow of crowds to facilitate travel in places with high traffic.

Impact of Covid-19 on the Global Digital Identity Solutions Market:

The pandemic caused by Covid-19 has brought the entire world to standstill, where majority of works are happening through internet. The increased usage of internet has supported the growth of the global digital identity solutions market. The same trend is predicted to continue over the foreseen years.

Growth and market trends:

The local deployment mode provides complete control and flexibility to organizations. Companies prefer to install solutions on-site rather than remotely. On-site deployment mode is provided with a single license fee as well as a service agreement. Since this mode of deployment requires a large infrastructure and a personal data center, it is only affordable for large organizations. Today, business data is easily accessible from mobile devices; This has increased the volume of data transfer between companies and has increased the risk of cyberattacks and data loss.

Large companies can be seen as the first to adopt digital identity solutions because they have a large workforce and associated network devices, which are sensitive to identity risks. Companies have offices in all regions, forcing them to deliver their solutions through real-time access to data for their employees. Also, large companies have no budget constraints, this allows them to adopt digital identity solutions on site. However, the trend of transition from on-premise to cloud is touted because of due to scalability benefits.

Market Drivers and Restraints:

The main factors driving the market are the focus on improving the end-to-end customer experience. Organizations implement local solutions for their business data to reduce risk. Vertical sectors, such as government and defense, prefer on-site deployment for added security. Therefore, the segment at the site is expected to have a higher market share. Due to additional features, such as access risk detection, excessive risk and outliers, large companies should increasingly adopt digital identity solutions.

However, the lack of consumer data security is expected to hamper market growth. Nonetheless, the surge in the adoption of authentication solutions in many verticals will create promising opportunities for the market in the coming years. In addition, it is expected that the integration of advanced technologies such as ML and AI will offer great growth opportunities to the market in the years to come.

Market Segmentation:

Based on solutions:

  • Biometrics
  • Non Biometric

Depending on the type of authentication:

  • Single factor authentication
  • Multifactorial authentication

Depending on the implementation mode:

  • Cloud
  • On-Site

By implementation method, the on-site segment will have a higher market share during the forecast period

Depending on the size of the organization:

  • Large Companies
  • Small and Medium-Sized Enterprises (SMEs)

Depending on the size of the organization, the large business segment will have a higher market share during the forecast period.

Based on verticals:

  • Banking, financial services and insurance (BFSI)
  • Retail and electronic commerce
  • Government and defense
  • Healthcare
  • Information technology (IT) and telecommunications.
  • Energy and public services
  • Others (education, manufacturing and media and entertainment)

Regional Analysis:

Asia-Pacific (APAC) includes large developing economies such as China, Japan, India, Singapore and South Korea. As a result of the increased sophistication of cyber fraud, citizens and businesses of APAC are becoming aware of identity and authentication fraud. Countries like Japan, China, and Singapore have started implementing digital identity solutions in industries like banking, financial and insurance (BFSI), healthcare, government and defense. Companies are developing digital identity-based payment solutions for retailers. These countries plan to increase their reach across multiple sites, including airports, states and state borders, and other developing countries have also started testing digital identity solutions. As a result, APAC is expected to develop with the highest CAGR over the outlook period in the global digital identity solutions market.

Key market players:

The main market players described in this report are NEC (Japan), Samsung SDS (United Kingdom), Thales Group (France), GBG PLC (United Kingdom), Telus Corp. (Canada), IDEMIA (France), Tessi (France), ForgeRock (USA), Jumio (USA), Refinitiv (UK), Duo Security (Cisco) (USA), AU10TIX (Cyprus), Imageware Systems (USA), Verisec (Sweden), Vintegris Tech (Spain), Signicat (Norway), Smartmatic (United Kingdom), Syntizen (India), Intesa (IBM) (Italy), RaulWalter (Estonia). These players offer digital identity solutions to meet customer requests and needs. The main growth strategies adopted by these players include partnerships, collaborations and agreements, as well as the launch / improvement of new products.

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods                          

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling      

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                         

                                4.1.1 Drivers      

                                4.1.2 Restaints  

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends                            

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis        

                                5.1.2 Products/Service  

                                5.1.3 Regional Presence               

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Digital Identity Solutions Market, By Solution                              

                                6.1.1 Biometrics               

                                6.1.2 Non-Biometrics     

                                6.1.3 Market Size Estimations & Forecasts (2019-2024)   

                                6.1.4 Y-o-Y Growth Rate Analysis             

                                6.1.5 Market Attractiveness Index          

                6.2 Digital Identity Solutions Market, By Authentication Type                     

                                6.2.1 Single Factor           

                                6.2.2 Multifactorial         

                                6.2.3 Market Size Estimations & Forecasts (2019-2024)   

                                6.2.4 Y-o-Y Growth Rate Analysis             

                                6.2.5 Market Attractiveness Index          

                6.3 Digital Identity Solutions Market, By Deployment Mode                        

                                6.3.1 On-Site     

                                6.3.2 Cloud         

                                6.3.3 Market Size Estimations & Forecasts (2019-2024)   

                                6.3.4 Y-o-Y Growth Rate Analysis             

                                6.3.5 Market Attractiveness Index          

                6.4 Digital Identity Solutions Market, By Organization Size                            

                                6.4.1 Large Enterprises 

                                6.4.2 SMEs         

                                6.4.3 Market Size Estimations & Forecasts (2019-2024)   

                                6.4.4 Y-o-Y Growth Rate Analysis             

                                6.4.5 Market Attractiveness Index          

                6.5 Digital Identity Solutions Market, By Vertical                               

                                6.5.1 BFSI            

                                6.5.2 Retail and Electronic Commerce    

                                6.5.3 Government and Defense               

                                6.5.4 Healthcare              

                                6.5.5 Information technology (IT) and Telecommunications         

                                6.5.6 Energy and Public Services               

                                6.5.7 Market Size Estimations & Forecasts (2019-2024)   

                                6.5.8 Y-o-Y Growth Rate Analysis             

                                6.5.9 Market Attractiveness Index          

7. Geographical Landscape                                         

                7.1 Global Identity Governance and Administration Market, by Region                  

                7.2 North America - Market Analysis (2018 - 2024)                            

                                7.2.1 By Country              

                                                7.2.1.1 USA

                                                7.2.1.2 Canada

                                7.2.2 By Solution              

                                7.2.3 By Authentication Type     

                                7.2.4 By Deployment Mode        

                                7.2.5 By Organization Size            

                                7.2.6 By Vertical               

                7.3 Europe                         

                                7.3.1 By Country              

                                                7.3.1.1 UK

                                                7.3.1.2 France

                                                7.3.1.3 Germany

                                                7.3.1.4 Spain

                                                7.3.1.5 Italy

                                                7.3.1.6 Rest of Europe

                                7.3.2 By Solution              

                                7.3.3 By Authentication Type     

                                7.3.4 By Deployment Mode        

                                7.3.5 By Organization Size            

                                7.3.6 By Vertical               

                7.4 Asia Pacific                  

                                7.4.1 By Country              

                                                7.4.1.1 China

                                                7.4.1.2 India

                                                7.4.1.3 Japan

                                                7.4.1.4 South Korea

                                                7.4.1.5 South East Asia

                                                7.4.1.6 Australia & NZ

                                                7.4.1.7 Rest of Asia-Pacific

                                7.4.2 By Solution              

                                7.4.3 By Authentication Type     

                                7.4.4 By Deployment Mode        

                                7.4.5 By Organization Size            

                                7.4.6 By Vertical               

                7.5 Latin America                             

                                7.5.1 By Country              

                                                7.5.1.1 Brazil

                                                7.5.1.2 Argentina

                                                7.5.1.3 Mexico

                                                7.5.1.4 Rest of Latin America

                                7.5.2 By Solution              

                                7.5.3 By Authentication Type     

                                7.5.4 By Deployment Mode        

                                7.5.5 By Organization Size            

                                7.5.6 By Vertical               

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                                7.6.1.1 Middle East

                                                7.6.1.2 Africa

                                7.6.2 By Solution              

                                7.6.3 By Authentication Type     

                                7.6.4 By Deployment Mode        

                                7.6.5 By Organization Size            

                                7.6.6 By Vertical               

8. Key Player Analysis                                    

                8.1 NEC                

                                8.1.1 Business Description           

                                8.1.2 Products/Service  

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis       

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 Samsung SDS                             

                8.3 Thales Group                             

                8.4 Telus Corp                   

                8.5 IDEMIA                         

                8.6 ForgeRock                   

                8.7 Jumio                            

                8.8 Refinitiv                       

                8.9 Verisec                         

                8.10 Imageware Systems                             

9. Market Outlook & Investment Opportunities                                

Appendix                                           

                List of Tables                     

                List of Figures                   

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of Solution, Authentication Type, Deployment Mode, Organization Size, Vertical along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Digital Identity Solutions Market By Region, From 2020-2025 ( USD Billion )
  2. Global Digital Identity Solutions Market By Solution, From 2020-2025 ( USD Billion )
  3. Global Biometrics Market By Region, From 2020-2025 ( USD Billion )
  4. Global Non-Biometrics Market By Region, From 2020-2025 ( USD Billion )
  5. Global Digital Identity Solutions Market By Authentication Type, From 2020-2025 ( USD Billion )
  6. Global Single Factor Market By Region, From 2020-2025 ( USD Billion )
  7. Global Multifactorial Market By Region, From 2020-2025 ( USD Billion )
  8. Global Digital Identity Solutions Market By Deployment Mode, From 2020-2025 ( USD Billion )
  9. Global On-Site Market By Region, From 2020-2025 ( USD Billion )
  10. Global Cloud Market By Region, From 2020-2025 ( USD Billion )
  11. Global Digital Identity Solutions Market By Organization Size, From 2020-2025 ( USD Billion )
  12. Global Large Enterprises Market By Region, From 2020-2025 ( USD Billion )
  13. Global SMEs Market By Region, From 2020-2025 ( USD Billion )
  14. Global Digital Identity Solutions Market By Vertical, From 2020-2025 ( USD Billion )
  15. Global BFSI Market By Region, From 2020-2025 ( USD Billion )
  16. Global Retail and Electronic Commerce Market By Region, From 2020-2025 ( USD Billion )
  17. Global Government and Defense Market By Region, From 2020-2025 ( USD Billion )
  18. Global Healthcare Market By Region, From 2020-2025 ( USD Billion )
  19. Global Information technology (IT) and Telecommunications Market By Region, From 2020-2025 ( USD Billion )
  20. Global Energy and Public Services Market By Region, From 2020-2025 ( USD Billion )

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