Market of digital identity solutions: 33 billion by 2025
Originally published by: Find your digital self | FySelf Blog
The international market of digital identity solutions will reach 33 billion in 2025. So conclude a study of Adroit Market Research. The main boost to this growth is the integration of biometric technologies into smart phones and numerous industries.
The document also says that this process happens because of the organizations’ interest in upgrading user experience.
Highlights of the international digital identity market reports
The report «Digital Identity Solutions Market by Authentication Type (Single-Factor Authentication and Multi-Factor Authentication), Solutions (Biometric and Non-Biometrics), End-users (IT & Telecom, BFSI, Retail, Healthcare, Government & Defense and Others), and Region, Global Forecast, 2018 to 2025», has as its main purpose offering an exhaustive look into the world industry of digital identity solutions.
“The need of a platform and integral digital identity solutions and dynamics are rising all over the world. Moreover, with the security measures and the correct and planned identity, companies can create the best commercial strategies that can generate income opportunities”.
In 109 pages, this report presents a market analysis. It is segmented by the type of authentication, the solutions and the final users. The study also analyses the factor that boosts this market, as well as restrictions and opportunities; it proposes an overview of the industry and its strategic proposals for the development of the products. Among others it shows the forecast for all the segments of the industry that they studied.
What to expect in the future
Among other significant data, this research finds that, in 2019, the single factor authentication dominated the market. This will change to multifactor authentication in the 2020–2025 period. Likewise, the segment of biometric solutions dominated last year’s market and it’s expected to be the market leader between 2020–2025. This is due, essentially, to the additional security that they offer.
In 2019, the single factor authentication dominated the market. Nevertheless, according to Adroit Market Research, the tendency will evolve into multifactor authentication in the 2020–2025 period.
On the other side, North America should remain as the main market region . Although the document states that, in the projected period, Asia-Pacific region will have the most elevated growth rate.
Meanwhile the global digital identity solutions market leaders are: Idemia, ForgeRock, Imageware Systems, Jumio, NEC, Samsung SDS, Signicat, Telus, Tessi and Thales Group. To these we add, potentially significant companies for the sector: Refinitiv, AU10TIX, Verisec y Smartmatic.
