Digital Identity Solutions Market

The global Digital Identity Solutions market size is projected to grow from USD 42.12 billion in 2024 to USD 133.19 billion by 2030 at a Compound Annual Growth Rate (CAGR) of 21.2% during the forecast period.

The digital identity solutions market is growing because of the innovations in the advanced technologies such as AI, ML, and blockchain. The AI and ML helps in the tracking of user behavior and anomaly detection which reduces the risk of identity fraud whereas the blockchain has decentralized, tamper-proof management for identity which ensures better security. Further, the growing threats of cybersecurity as well as identity thefts force organizations to choose more robust systems to mitigate risks. Strict regulations and compliances such as GDPR and CCPA are further pushing the companies to focus on secure identity management. In addition to this, the growth in digital wallets along with an increasing investment in digital transformation in the verticals such as finance, healthcare, and government accelerates the market growth.

The major players in the Digital Identity Solution market with a significant global presence are Thales (France), NEC Corporation (Japan), IDEMIA (France), Samsung SDS (South Korea), Telus (Canada), HID Global (US), AU10TIX (Israel), CrowdStrike (US), DXC Technologies (US),  IBM (US), CyberArk (US), , SailPoint Technologies (US), GBG Corporation (UK), Ping Identity (US),  Jumio (US), Onespan (US), TESSI (France), ACI Worldwide (US),  Shufti (UK), Duo Security (US), Imprivata (US), Innovatrics (Slovakia), iProov (UK), Onfido (UK), Persona (US), Regula (Latvia), Signicat (Norway), Incode Technologies (US), Smartmatic (UK), and Vintegris (Spain). The market players have adopted various strategies, such as developing advanced products, partnerships, contracts, expansions, and acquisitions, to strengthen their position in the digital identity solutions market. The organic and inorganic strategies have further helped the market players to expand globally.

NEC Corporation

NEC Corporation is a global leader in digital identity solutions, specializing in advanced biometric technologies like facial, iris, fingerprint, and voice recognition. The company is recognized for its high accuracy. NEC’s facial recognition system has been ranked at the top by NIST. The company’s solutions are easily integrated into existing infrastructures and it serves verticals like finance, healthcare, and government. NEC has enhanced travel experience by enabling facial recognition for airport processes and improve transaction security in financial services while ensuring regulatory compliance. Globally, NEC collaborates on large-scale projects, including child fingerprint identification systems in developing countries and national security initiatives in over 70 countries. With continued investment in R&D, NEC remains committed to advancing biometric technology and improving user experiences through its seamless digital ID solutions.

Samsung SDS

Samsung SDS is a key player in the digital identity solution market, leveraging its expertise in biometric authentication and innovative technologies. The company’s Digital Identity Platform integrates facial recognition, fingerprint scanning, and behavioral biometrics to offer secure, seamless access to applications and services. The SingleID solution allows users to access multiple systems through a single authentication process, enhancing security with multi-factor authentication (MFA) and biometrics. Some of the recent developments of Samsung SDS includes a partnership with ID R&D to incorporate behavioral biometrics for frictionless log-ins and anti-spoofing, and a collaboration with Oracle to enhance enterprise mobile security through FIDO biometric authentication. Samsung SDS is also expanding into retail with its Nexshop platform, combining biometrics with marketing analytics to improve customer engagement. With a strong market presence and a focus on innovation and partnerships, Samsung SDS is well-positioned in the digital identity space. The company is further investing in AI-driven biometric solutions to advance its technologies and enhance user experiences by providing secure, frictionless authentication across various sectors.

Related Reports:

Digital Identity Solutions Market by Hardware (RFID Reader & Encoder, Hardware-Based Tokens, Processor ID Cards), Solution type (Identity Verification, Authentication, Identity Lifecycle Management) - Global Forecast to 2030

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