Market Research Report
Digital Identity Solutions Market with Covid-19 Impact Analysis by Component (Solutions and Services), Solution Type (Biometrics and Non-Biometrics), Authentication Type, Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2026
|Digital Identity Solutions Market with Covid-19 Impact Analysis by Component (Solutions and Services), Solution Type (Biometrics and Non-Biometrics), Authentication Type, Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2026|
Published: July 22, 2021
Content info: 300 Pages
Delivery time: 1-2 business days
In the post-COVID-19 scenario, the global digital identity solutions market size is projected to grow from USD 23.3 Billion in 2021 to USD 49.5 Billion by 2026, recording a Compound Annual Growth Rate (CAGR) of 16.2% from 2021 to 2026. The market's growth in the market can be attributed to the increase in instances of identity-related frauds and data breaches and the need for compliance with various upcoming regulations.
By deployment, the cloud segment is expected to grow at a higher CAGR than the on-premises segment during the forecast period.
The adoption rate of cloud-based digital identity solutions is expected to be on the rise, due to their features, such as ease of use and reduced installation and maintenance costs. The on-premise deployment mode is expected to have a larger market size during the forecast period, as large enterprises have the required infrastructure for deploying their solutions on-premises. On-premise deployment assures high levels of flexibility and control. At the same time, a cloud-based deployment enables the expansion of the number of end users, as required.
The Asia Pacific market is expected to register the highest growth rate during the forecast period.
Based on region, the digital identity solutions market in Asia Pacific is projected to grow at the highest CAGR during the forecast period. Major factors boosting the growth of the digital identity solutions market in APAC include increasing investments by government and defense sectors as well as increased technological advancements across various sectors. With rapid digitization, increased use of smartphones, mobile applications, and cloud storages for the smooth functioning of businesses Asian organizations are evolving to a security mindset.
Major players, namely, include NEC (Japan), Samsung SDS (South Korea), Thales Group (France), GBG (UK), TELUS (Canada), Tessi (France), Daon (US), IDEMIA (France), ForgeRock (US), Jumio (US), iProov (UK), ID R&D (US), Refinitiv (UK), ImageWare Systems (US), OneSpan (US), Smartmatic (UK), Verisec (Sweden), Vintegris (Spain), AU10TIX (Cyprus), Signicat (Norway), RaulWalter (Estonia), Duo Security (US), Syntizen(India), HashCash Consultants (US), and Good Digital Identity (Czech Republic). The study includes an in-depth competitive analysis of these key market players along with their profiles, recent developments, and key market strategies.
The market study covers the digital identity solutions market size across segments. It aims at estimating the market size and the growth potential of this market across different segments by component, by solution type, by authentication type, deployment type, organization size, vertical, and region. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall digital identity solutions market and its subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies. The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.