Digital Identity Solutions Market

Emerging Trends in Digital Identity Solutions (DIS) Market: Biometrics, SSI, AI, IoT Integration, and More

The size of the worldwide market for digital identification solutions (DIS) is anticipated to increase at a Compound Annual Growth Rate (CAGR) of 19.3% over the course of the forecast period, from USD 34.5 billion in 2023 to USD 83.2 billion by 2028.

Emerging trends in the Digital Identity Solutions (DIS) Marketare:

  • Biometric Authentication:
  • Self-Sovereign Identity (SSI):
  • AI and Machine Learning:
  • Interoperability and Standards:
  • Integration with IoT and Mobile Devices:
  • Zero Trust Security Model:
  • Health Passports and Credentialing:
  • Digital Wallets and Payment Systems:

To know about the assumptions considered for the study download the pdf brochure

These emerging trends indicate a vibrant and evolving landscape in the global Digital Identity Solutions Market, driven by technological advancements, regulatory developments, and evolving consumer expectations regarding privacy and security.

Decentralized Identity (DID): There is a growing adoption of decentralized identity solutions that enable users to control their digital identities securely without relying on central authorities. Blockchain and distributed ledger technologies play a significant role in enabling decentralized identity management.

Biometric Authentication: The integration of biometric technologies such as fingerprint scanning, facial recognition, and iris scanning is increasing in digital identity solutions. Biometrics offer enhanced security and user convenience, making them popular for authentication and verification purposes.

Self-Sovereign Identity (SSI): Self-sovereign identity frameworks empower individuals to manage their digital identities independently across various services and platforms. SSI solutions prioritize privacy, security, and user control, aligning with growing concerns over data protection regulations.

AI and Machine Learning: AI and machine learning algorithms are being utilized to enhance the accuracy and efficiency of identity verification processes. These technologies enable real-time risk assessment and anomaly detection, improving fraud prevention and identity theft mitigation.

Interoperability and Standards: Efforts to establish interoperable digital identity standards are gaining momentum. Initiatives like W3C's Verifiable Credentials and decentralized identifiers (DIDs) aim to create common frameworks that facilitate seamless identity verification across different systems and jurisdictions.

Integration with IoT and Mobile Devices: The proliferation of IoT devices and mobile applications is driving the demand for digital identity solutions that can securely authenticate and authorize interactions between devices, services, and users in interconnected environments.

Zero Trust Security Model: The Zero Trust security approach, which assumes that every access attempt is potentially malicious and requires strict identity verification, is influencing digital identity solutions. Implementing continuous authentication and adaptive access controls aligns with this model to enhance security posture.

Health Passports and Credentialing: The COVID-19 pandemic has accelerated the development and adoption of health passports and digital credentials for verifying vaccination status and health records. These applications require secure and privacy-preserving digital identity solutions.

Digital Wallets and Payment Systems: Integration of digital identity solutions into digital wallets and payment systems is enhancing convenience and security in financial transactions. Solutions that enable seamless and secure authentication and authorization processes are becoming essential in the digital economy.

Related Reports:

Digital Identity Solutions Market by Offering (Solutions, Services), Software, Solution Type (Identity Verification, Authentication), Authentication Type, Identity Type, Organization Size, Vertical and Region - Global Forecast to 2028

Digital Identity Solutions Market Size,  Share & Growth Report
Report Code
TC 7537
RI Published ON
Choose License Type

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.

  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
©2024 MarketsandMarkets Research Private Ltd. All rights reserved Protection Status