Canada Digital Identity Management Solution Market Size and Growth Opportunities with COVID19 Impact Analysis | OneLogin, Avanade Inc, Akamai Technologies

The Canada digital identity management solution market size is expected to grow from US$ 990.0 million in 2021 to US$ 2,272.6 million by 2028; the Canada digital identity management solution market size is estimated to grow at a CAGR of 12.9% from 2022 to 2028.

Identity and authentication fraud threats continue to challenge several industries, including financial services. Identity theft and synthetic identity continuously escalate fraud cases that target consumers and frustrate anti-financial crime analysts. Identity fraud and synthetic identity methods are growing as consumers adopt digital payment methods and shift the way consumers shop and interact online. Moreover, data breaches, the increasing availability of intelligent technology and computing power, and the volume of personally identifiable information (PII) available through online sources have created a virtual playground for cyberattacks to conduct fraud at a massive scale.

Browse Full Report-https://www.businessmarketinsights.com/reports/canada-digital-identity-management-solution-market/?utm_source=OpenPR&utm_medium=10470

Savvy fraudsters or cyber attackers steal PPI through data breaches or appropriating a driver's license and then use the information to commit fraud by posing as the same person to access their credit information. A bad actor also targets a consumer directly by using certain techniques such as phishing emails, skimming, or robocalls to steal sensitive information. Instances of fraud and identity theft have been on the rise during the COVID-19 pandemic. According to a recent survey by Johnson Insurance, in September 2020, more than half (~52%) of Canadians were a victim of identity theft and were unable to identify the warning signs. As per the same survey, 27% of Canadians have noticed increased suspicious COVID-19-related activities on fraudulent websites and online advertisements, 23% rise in suspicious emails, and 20% increase in text messages or phone calls. Thus, identity fraud is rising continuously across Canada.

Sample PDF showcases the content structure and the nature of the information included in the report which presents a qualitative and quantitative analysis - https://www.businessmarketinsights.com/sample/TIPRE00029273/?utm_source=OpenPR&utm_medium=10470

Major key players covered in this report:
• OneLogin
• Avanade Inc
• Akamai Technologies
• NEC Corporation
• Daon, Inc.
• DXC Technology Company
• ForgeRock
• Jumio Corporation
• TelosID
• TELUS

Impact of COVID-19 Pandemic on Canada Digital Identity Management Solution Market

Before the emergence of the COVID-19 pandemic, the Canada digital identity management solutions market was growing due to rising cybercrimes. For instance, in October 2019, Canadians lost US$ 43 million to cybercrime, as per Ontario Provincial Police (OPP) statistics. Therefore, with the growing security threats regarding personal information, it became essential to implement digital identity management solutions in Canada, leading to a rise in demand.

Immediate delivery of our off-the-shelf reports and prebooking of upcoming studies, through flexible and convenient payment methods -
https://www.businessmarketinsights.com/buy/single/TIPRE00029273/?utm_source=OpenPR&utm_medium=10470

In 2020, the COVID-19 pandemic positively influenced the Canada digital identity management solution market growth due to rising government schemes to protect an individual's identity. For instance, in November 2020, the Canadian government proposed the Digital Charter Implementation Act 2020, which will modernize the framework for safeguarding personal information in the private sector. This legislation takes several necessary steps to ensure that a modern and responsive law will protect Canadians and offer benefits to innovative businesses from significant rules, considering technology evolution. This framework has helped adopt digital identity management solutions across the country.

Contact US:

Business Market Insights
Phone: +442081254005
E-Mail ID: sales@businessmarketinsights.com
Web URL: https://www.businessmarketinsights.com/
LinkedIn URL: https://www.linkedin.com/company/business-market-insights/

About Us:

Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications.

This release was published on openPR.