Digital Trust Market to Witness Huge Growth in Coming Years with Boosted Industry Revenue US$ 308.34 billion | IBM Corporation, Microsoft Corporation

Digital trust solutions help ensure the identity, security, and reliability of online transactions and interactions. They provide authentication, verification and authorization services to both individuals and enterprises.

Market Dynamics:

The digital trust market is expected to experience significant growth over the forecast period owing to rise in online transactions and growing concerns over cyber threats. The digital identity solutions ensure smooth and seamless online transactions by verifying user credentials and establishing trust in the digital world. Furthermore, increasing instances of online frauds and data breaches have led many organizations to adopt digital trust solutions to enhance cyber security and protect sensitive data. Identity verification has emerged as a crucial requirement for limiting unauthorized access and digital identities play a key role in addressing this need.

The Global Global Digital Trust Market size was valued at US$ 308.34 billion in 2023 and is expected to reach US$ 781.07 billion by 2030, grow at a compound annual growth rate (CAGR) of 14.2% from 2023 to 2030

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Digital Trust Market Drivers: Increasing Dependence on Digital Interactions is Fueling the Demand for Security and Authentication Solutions

As the world transitions to a digital-first lifestyle, nearly every interaction is now happening online - from banking and payments to education, healthcare, and more. However, this heavy reliance on digital channels also means businesses and individuals are more vulnerable to security threats like data breaches, phishing attacks, and fraud. To mitigate these risks and build trust among online users, companies are investing heavily in solutions that can verify identities, authenticate transactions, and protect sensitive information with advanced encryption and access control capabilities. Digital identity verification and multi-factor authentication are fast becoming table stakes as hackers get more sophisticated in their methods. The need to secure digital channels and foster trust among remote users will continue propelling the digital trust market forward.

Another key driver is the Growth of IoT and Connected Devices. Billions of "things" from smartphones to appliances to industrial machines are now Internet-connected and generating troves of valuable data. However, with connectivity comes new security challenges as more endpoints are exposed. Ensuring the integrity of data flowing to and from IoT devices requires trust solutions like digital certificates, blockchain, and visibility/monitoring tools. As IoT adoption accelerates across industries, the demand for digital trust capabilities tailored for these environments will also rise significantly. Industries are eager to tap into the benefits of IoT but not at the cost of security and privacy - driving more spend on solutions that can establish trust in highly distributed networks.

Top Key Players:

IBM Corporation, Microsoft Corporation, Cisco Systems, Inc., Oracle Corporation, Gemalto (Thales Group), RSA Security LLC (a subsidiary of Dell Technologies), Entrust Datacard Corporation, Auth0, ForgeRock, Ping Identity Corporation, OneSpan Inc., Okta, Inc., Nok Nok Labs, Inc., Signicat AS, Jumio Corporation

Detailed Segmentation:

Global Digital Trust Market, By Solution Type:
Identity Verification and Authentication
Digital Signatures and Certificates
Fraud Detection and Prevention
Data Encryption and Security
Secure Communication Solutions
Risk and Compliance Management
Others
Global Digital Trust Market, By Deployment Model:
On-Premises
Cloud-based
Global Digital Trust Market, By Organization Size:
Small and Medium-sized Enterprises (SMEs)
Large Enterprises
Global Digital Trust Market, By Application:
E-commerce and Online Transactions
Digital Banking and Financial Services
Secure Communication and Collaboration
Supply Chain and Logistics
Identity and Access Management (IAM)
Internet of Things (IoT) Security
Digital Healthcare and Telemedicine
Government Digital Services
Others
Global Digital Trust Market, By Digital Identity Type:
Centralized Identity
Decentralized Identity (Self-sovereign Identity)
Federated Identity
Global Digital Trust Market, By Authentication Method:
Biometric Authentication (e.g., facial recognition, fingerprint, voice)
Multi-factor Authentication (MFA)
Passwordless Authentication
Behavioral Authentication

Global Digital Trust Market, By Compliance Standard:
General Data Protection Regulation (GDPR)
Health Insurance Portability and Accountability Act (HIPAA)
Payment Card Industry Data Security Standard (PCI DSS)
ISO/IEC 27001
Others

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Regional Analysis:
⁃ North America: United States, Canada, and Mexico
⁃ South & Central America: Argentina, Chile, Brazil and Others
⁃ Middle East & Africa: Saudi Arabia, UAE, Israel, Turkey, Egypt, South Africa & Rest of MEA.
⁃ Europe: UK, France, Italy, Germany, Spain, BeNeLux, Russia, NORDIC Nations and Rest of Europe.
⁃ Asia-Pacific: India, China, Japan, South Korea, Indonesia, Thailand, Singapore, Australia and Rest of APAC.

Digital Trust Market Restrain: Legacy Infrastructure Hinders Adoption of Advanced Technologies

While the need for digital trust is clear, a major barrier slowing the market's growth is the presence of aged, rigid legacy systems within many organizations. Transitioning core functions and records to modern architectures requires time, resources and careful planning to avoid disruptions. For decades, businesses have relied on traditional perimeter-based security tools that are ill-equipped to address new distributed and remote risk models. Untangling from outdated systems to make way for next-gen identity platforms, blockchain, and zero-trust networks involves financial investments as well as process overhaul.

Change management also poses challenges as internal stakeholders grapple with learning new technologies and adapting security strategies. For highly regulated industries, obtaining certifications and ensuring standards compliance for novel solutions introduces additional hurdles. The reluctance to part with legacy setups delays the implementation of advanced digital trust capabilities even when their value is evident. As long as traditional infrastructures continue to underpin major business operations, transforming to future-ready, scalable trust architectures will remain an uphill task. This acts as a key restrain on the market in its effort to gain quicker traction and meet growing security demands.

Digital Trust Market Opportunity: Securing Remote and Hybrid Work Models

The COVID-19 pandemic accelerated the shift to remote working scenarios on an unprecedented scale. Even as offices reopen, the appetite for flexible work arrangements looks set to stay. According to a survey, 70% of employees want the option to work remotely at least part-time going forward. However, operating outside traditional perimeters with a scattered workforce threatens security if not addressed properly. As identity becomes untethered from physical devices, digital trust measures play a pivotal role in validating users' credentials and activities regardless of location. There is a massive opportunity for identity and access management, multi-factor authentication, digital signing, and data protection providers to help secure hybrid work/learning environments of the future.

Solutions that establish trust across disparate access points will see continued uptake. Another related opportunity lies in equipping field/frontline workers with tools for securely managing tasks on the go. Industries ranging from healthcare and financial services to utilities and manufacturing involve staff routinely accessing centralized systems and data assets while mobile. Providing seamless yet governed access tied to digital identities becomes paramount in these contexts. The shift to remote and flexible working models fundamentally reshapes security needs, fueling demand for new trust capabilities in the process. It enables the industry to grow well beyond the pre-pandemic baseline.

Digital Trust Market Trends: Evolution of Blockchain Identity Management

There is growing recognition that blockchain distributed ledgers can reinvent identity and data governance in transformative ways. The technology's inherent features around transparency, traceability, security and consent make it well-suited for managing digital identities and credentials. Several startups are

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Key Questions Addressed in the Market Report:

What is the expected size, share, and CAGR of the Digital Trust Market over the forecast period?
What are the key trends expected to influence the Digital Trust Market between 2023 and 2030?
What is the expected demand for various types of products/services in the Digital Trust Market?
What long-term impact will strategic advancements have on the Digital Trust Market?
Who are the key players and stakeholders in the Digital Trust Market?
What are the different segments and sub-segments considered in the Digital Trust Market research study?

Strategic Points Covered in Table of Content of Global Digital Trust Market:

Chapter 1 : Introduction, market driving forces, and product The study and research objectives are to investigate the Digital Trust market.

Chapter 2: Exclusive Summary - Digital Trust Market Fundamentals.

Chapter 3: The Changing Impact on Market Dynamics- Drivers, Trends, and the Challenges and Opportunities of Process Spectroscopy

Chapter 4: Digital Trust Market Factor Analysis, Porter's Five Forces Analysis, Supply/Value Chain, SWOT Analysis, Market Entropy, and Patent/Trademark Analysis are all presented in this chapter

Chapter 5: 2017-2022 Forecast by Type, End User, and Region/Country

Chapter 6: Evaluating the key players in the Digital Trust market, including the Competitive Landscape, Peer Group Analysis, BCG Matrix, and Company Profile.

Chapter 7: To evaluate the market by segments, countries, and manufacturers/companies, as well as revenue share and sales by major countries in these regions (2023-2030).

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