Digital Identity Solutions Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

Digital Identity is information on an entity used by computer system to represent an external agent. The digital identity solutions allow accessing the computers and providing services to the customers. Digital identity solution is the compliance of information about individual that exists in a digital form which includes all the data as from date of birth of individual to all activities on the social media platforms. The solutions have several advantages such as- it provides high level of accuracy and better compliance, it has low operational cost, it provides better customer experience and enhances better security.

MARKET SCOPE

The "Global Digital Identity Solutions Market Analysis to 2031" is a specialized and in-depth study of the technology, media and telecommunication industry with a special focus on the global market trend analysis. The report aims to provide an overview of the digital identity solutions market with detailed market segmentation by solution, authentication type, deployment mode, organization size, vertical, and geography. The report provides key statistics on the market status of the leading digital identity solutions market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on solution, the global digital identity solutions market is segmented into biometrics, non-biometrics
  
•   On the basis of authentication type, the market is segmented into single-factor authentication, multi-factor authentication
  
•   Based on deployment mode, the market is cloud, on-premises
  
•   Based on organization size, the market is bifurcated into large enterprises, small and medium-sized enterprises (SMES)
  
•   Based on vertical, the market is bifurcated into BFSI, retail and e-commerce, government and defense, healthcare, information technology and telecom, energy and utility, others
  

MARKET DYNAMICS

Drivers:

•   Rising Identity and Authentication Frauds.
  
•   Integration of Biometrics in Smartphones.
  
•   Increased Focus to Enhance End to End Customer Experience.
  

Restraints

•   Higher Cost Involved in Deploying Digital Identity Solutions
  
•   Lack of Information Security of Consumer Data
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The digital identity solutions market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the digital identity solutions market in these regions.

IMPACT OF COVID-19 ON DIGITAL IDENTITY SOLUTIONS MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

MARKET PLAYERS

The report covers key developments in the digital identity solutions market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from digital identity solutions market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the digital identity solutions market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   ForgeRock
  
•   GB Group plc ('GBG')
  
•   IDEMIA
  
•   ImageWare Systems, Inc
  
•   Jumio
  
•   NEC Corporation
  
•   SAMSUNG SDS America, Inc.
  
•   Telus
  
•   Tessi
  
•   Thales Group
  
  

The Insight Partner’s dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Digital Identity Solutions Report Scope