Digital Identity Management Solutions Market by Type, Offering, Application, Identity Type, Authentication Type, Organization Size, Deployment Mode, Sector (BFSI, Retail & E-Commerce, Government & Defense, Healthcare, and Other Sectors) - Global Forecast

Digital Identity Management Solutions Market by Type, Offering, Application, Identity Type, Authentication Type, Organization Size, Deployment Mode, Sector (BFSI, Retail & E-Commerce, Government & Defense, Healthcare, and Other Sectors) - Global Forecast to 2030

Digital Identity Management Solutions Market by Type, Offering, Application, Identity Type, Authentication Type, Organization Size, Deployment Mode, Sector (BFSI, Retail & E-Commerce, Government & Defense, Healthcare, and Other Sectors)—Global Forecast to 2030.

The research report titled ‘Digital Identity Management Solutions Market by Type, Offering, Application, Identity Type, Authentication Type, Organization Size, Deployment Mode, Sector (BFSI, Retail & E-Commerce, Government & Defense, Healthcare, and Other Sectors)—Global Forecast to 2030.’ provides in-depth analysis of digital identity management solutions market in five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2030.

The global digital identity management solutions market is expected to reach USD 70.8 billion by 2030, at a CAGR of 15.4% during the forecast period of 2023 to 2030. The growth of this market is mainly attributed to the increasing frequency & sophistication of authentication & identity frauds in the BFSI sector, government initiatives encouraging the adoption of digital identity management solutions, and the integration of biometric capabilities into mobile devices.

The study offers a comprehensive analysis of the global digital identity management solutions market by type, offering, application, identity type, authentication type, organization size, deployment mode, sector and geography.

The global digital identity management solutions market is segmented by type (identity verification & authentication solutions, digital KYC & onboarding solutions, zero trust security solutions, digital ID wallet solutions), offering (hardware [scanners & readers, cameras, smart cards, tokens], software, services [professional services, managed services]), application (workforce identity management, customer identity management, citizen digital identity management, machine identity management, other digital identity management applications [border control & fraud identification]), identity type(biometric solutions, non-biometric solutions), authentication type ( single-factor authentication, multi-factor authentication), organization size (small & medium-sized enterprises, large enterprises), deployment mode (on-premise deployment, cloud-based deployment), sector (BFSI, retail & e-commerce, government & defense, healthcare, IT & telecommunications, energy & utilities, tourism & hospitality, education, manufacturing, and other sectors). The study also evaluates industry competitors and analyzes the market at regional and country levels.

Based on type, the global digital identity management solutions market is segmented into identity verification & authentication solutions, digital KYC & onboarding solutions, zero trust security solutions, and digital ID wallet solutions. In 2023, the identity verification & authentication solutions segment is expected to account for the largest share of the global digital identity management solutions market. The segment’s large share is attributed to the increasing government initiatives to launch identity verification programs, efforts from leading digital identity management solution providers to launch biometric authentication solutions, and the growing demand for biometric authentication solutions. This segment is expected to grow at the highest CAGR during the forecast period.

Based on authentication type, the global digital identity management solutions market is segmented into single-factor authentication and multi-factor authentication. In 2023, the multi-factor authentication segment is expected to account for the larger share of the global digital identity management solutions market. The large market share of this segment is attributed to the increasing adoption of multi-factor authentication solutions by organizations due to increasing identity thefts and data breaches and the growing demand for multi-layered passwords, security tokens, and biometric verification methods. This segment is expected to grow at the highest CAGR during the forecast period.

Based on organization size, the global digital identity management solutions market is segmented into small & medium-sized enterprises and large enterprises. In 2023, the large enterprises segment is expected to account for the larger share of the global digital identity management solutions market. The large market share of this segment is attributed to the strong IT infrastructure of large enterprises, a surge in data breaches and unauthorized access, and the growing adoption of advanced technologies such as AI for digital identity management solutions. This segment is expected to grow at the highest CAGR during the forecast period.

Based on geography, the global digital identity management solutions market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the global digital identity management solutions market. Asia-Pacific’s major market share is attributed to the increasing demand for digital identities for authenticating citizens, the rising demand for digital identity management solutions for accessing government services and identification, and the increasing efforts by leading market players to launch digital identity management solutions. This regional market is expected to register the highest CAGR during the forecast period.

The key players operating in the global digital identity management solutions market are Thales Group (France), NEC Corporation (Japan), IDEMIA (France), GB Group plc (U.K.), ForgeRock, Inc. (U.S.), Samsung SDS Co., Ltd. (South Korea), ImageWare Systems Incorporated (U.S.), Signicat (Norway), Syntizen Technologies Pvt. Ltd. (India), HashCash Consultants(U.S.), Jumio Corporation (U.S.), Vintegris, S.L. (Spain), Daon, Inc. (U.S.), Cloudflare, Inc. (U.S.), and Refinitiv Limited (a part of London Stock Exchange Group Plc).

Key questions answered in the report-

Which are the high-growth market segments in terms of the type, offering, application, identity type, authentication type, organization size, deployment mode, and sector?
What is the historical market for digital identity management solutions across the globe?
What are the market forecasts and estimates for the period of 2023–2030?
What are the major drivers, restraints, and opportunities in the global digital identity management solutions market?
Who are the major players in the global digital identity management solutions market and what share of the market do they hold?
Who are the major players in various countries and what share of the market do they hold?
How is the competitive landscape?
What are the recent developments in the global digital identity management solutions market?
What are the different strategies adopted by the major players in the global digital identity management solutions market?
What are the geographical trends and high-growth countries?
Who are the local emerging players in the global digital identity management solutions market and how do they compete with the other players?

Scope of the Report

Digital Identity Management Solutions Market, by Type

Identity Verification & Authentication Solutions
Digital KYC & Onboarding Solutions
Zero Trust Security Solutions
Digital ID Wallet Solutions

Digital Identity Management Solutions Market, by Offering

Hardware
Scanners & Readers
Cameras
Smart Cards
Tokens
Software
Services
Professional Services
Managed Services

Digital Identity Management Solutions Market, by Application

Workforce Identity Management
Customer Identity Management
Citizen Digital Identity Management
Machine Identity Management
Other Digital Identity Management Applications

Digital Identity Management Solutions Market, by Identity Type

Biometric Solutions
Non-biometric Solutions

Digital Identity Management Solutions Market, by Authentication Type

Single-factor Authentication
Multi-factor Authentication

Digital Identity Management Solutions Market, by Organization Size

Small & Medium-sized Enterprises
Large Enterprises

Digital Identity Management Solutions Market, by Deployment Mode

On-premise Deployment
Cloud-based Deployment

Digital Identity Management Solutions Market, by Sector

IT & Telecommunications
BFSI
Government & Defense
Manufacturing
Retail & E-commerce
Healthcare
Energy & Utility
Education
Tourism & Hospitality
Other Sectors

Digital Identity Management Solutions Market, by Geography

North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
UAE
Israel
Rest of Middle East & Africa

Digital Identity Management Solutions Market - Report Summary

Report Metrics	Details
Years Considered	2021 - 2030
Base Year	2022
Forecast Period	2022-2030
Page Count	320
Units Referenced	Value (USD Million)
Segments/Key Topics	Market by Type, Market by Offering, Market by Application, Market by Identity Type, Market by Authentication Type, Market by Organization Size, Market by Deployment Mode, Market by Sector, Market by Geography
Regions Covered	North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa
Key Companies Mentioned	Thales Group (France), NEC Corporation (Japan), IDEMIA (France), GB Group plc (U.K.), ForgeRock, Inc. (U.S.), Samsung SDS Co., Ltd. (South Korea), ImageWare Systems Incorporated (U.S.), Signicat (Norway), Syntizen Technologies Pvt. Ltd. (India), HashCash Consultants (U.S.), Jumio Corporation (U.S.), Vintegris, S.L. (Spain), Daon, Inc. (U.S.), Cloudflare, Inc. (U.S.), and Refinitiv Limited (a part of London Stock Exchange Group Plc) (U.K.).

FAQs About the Report

What is the value of revenue generated from the sale of digital identity management solutions across the globe? At what rate is their demand expected to grow for the next 5-7 years?

The global digital identity management solutions market is projected to reach $70.8 billion by 2030, at a CAGR of 15.4% during the forecast period.

Which application segment showcases high growth opportunities for the digital identity management solutions market players?

Based on application, the workforce identity management segment is expected to account for the largest share of the global digital identity management solutions market due to the growing demand for remote, safe, and easy workforce access to industrial assets, the growing demand for solutions to monitor privileged users, and the increasing need to build centralized and highly scalable platforms for workforce identity management.

Which sector segments of the market are projected to create more traction in the global digital identity management solutions market?

The healthcare segment is expected to register the highest CAGR during the forecast period, mainly due to the increasing need to track healthcare data to discover innovative procedures & treatments, the rising adoption of smart health cards, the increasing need to ensure better compliance with healthcare laws, and the growing need to lower administrative costs.

What are the key factors driving the growth of the digital identity management solutions market? What are the major opportunities for existing market players and new entrants in the market?

The increasing frequency & sophistication of authentication & identity frauds in the BFSI sector, government initiatives encouraging the adoption of digital identity management solutions, and the integration of biometric capabilities into mobile devices are the major factors driving the growth of the digital identity management solutions market. Moreover, the growing adoption of cloud-based digital identity management solutions and the increasing utilization of contactless biometric solutions provide significant opportunities in the global digital identity management solutions market.

Who are the major players operating in the global digital identity management solutions market?

Some of the key players in the global digital identity management solutions market are Thales Group (France), NEC Corporation (Japan), IDEMIA (France), GB Group plc (U.K.), ForgeRock, Inc. (U.S.), Samsung SDS Co., Ltd. (South Korea), ImageWare Systems Incorporated (U.S.), Signicat (Norway), Syntizen Technologies Pvt. Ltd. (India), HashCash Consultants(U.S.), Jumio Corporation (U.S.), Vintegris, S.L. (Spain), Daon, Inc. (U.S.), Cloudflare, Inc. (U.S.), and Refinitiv Limited (a part of London Stock Exchange Group Plc).

Which regions/countries are expected to witness significant demand for digital identity management solutions in the coming years?

In 2023, Asia-Pacific is expected to account for the largest share of the global digital identity management solutions market. However, countries such as Germany, Japan, China, South Korea, Netherlands, and the U.K. are expected to witness strong growth in demand for digital identity management solutions.