Digital Identity Solutions Market Size, Share and Global Market Forecast to 2026 : MarketsandMarkets

According to amarket research report "Digital Identity Solutions Market with Covid-19 Impact Analysis byComponent (Solutions and Services), Solution Type (Biometrics and Non-Biometrics),Authentication Type, Deployment Mode, Organization Size, Vertical, and Region -Global Forecast to 2026", published byMarketsandMarkets™,  In the post-COVID-19 scenario, theglobal Digital Identity Solutions Market size is projected to grow from USD 23.3Billion in 2021 to USD 49.5 Billion by 2026, recording a Compound Annual GrowthRate (CAGR) of 16.2% from 2021 to 2026.

The market’s growthin the market can be attributed to the increase in instances ofidentity-related frauds and data breaches and the need for compliance withvarious upcoming regulations.

Browse andin-depth TOC on “Digital Identity Solutions Market”

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Based on solution type, the Biometric segment is estimatedto lead the market in 2021.

Based on solution type,the Digital Identity Solutions Market has been bifurcated into two segments:biometrics and non-biometrics. These solutions play a vital role in everyorganization. Most organizations are moving toward digitalization andcloud-based infrastructure, which help them drive businesses forward andstrengthen customer relationships. Biometric segments market to hold thelargest market share in the Digital Identity Solutions Market.

Based on Vertical, Retailand eCommerce segment is estimated to lead the market in 2021.

Retail and eCommerce isgrowing at an unprecedented rate in North America, Europe, and APAC. Thisvertical is targeted to extract highly confidential and sensitive data ofcritical sectors, including government, prime contractors, and suppliers.

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North America is expected to hold the largest marketshare during the forecast period.

North America isconsidered the most mature market in terms of adopting digital identitysolutions, due to factors such as the rise in identity and authenticationfrauds and the presence of key vendors in the region. Cyber threat is becominga global issue right from individuals to large enterprises. Companies of allsizes are focused on removing security gaps and vulnerabilities from theircritical business applications and network infrastructure. Both SMEs and largeenterprises are adopting digital identity solutions to maintain the physicalsecurity of infrastructure.

Market Players

Major players in DigitalIdentity Solutions Market include NEC (Japan), Samsung SDS (SouthKorea), 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).

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