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Digital Identity Management Solutions Market to be Worth $70.8 billion by 2030 - Market Sizes, Shares, Forecasts, and Trends Analysis Report with COVID-19 Impact by Meticulous Research®
As per the latest market research report titled, 'Global Forecast to 2030 - Digital Identity Management Solutions Market,' the market for digital identity management solutions is anticipated to achieve a valuation of $70.8 billion by 2030, exhibiting a robust Compound Annual Growth Rate (CAGR) of 15.4% from 2023 to 2030.Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5443
A comprehensive digital identity management system enables organizations to efficiently and securely manage the complete identity lifecycle of their workforce and devices, utilizing hardware, software, or service platforms. This approach delivers notable advantages, including enhanced security, heightened accuracy, and an improved customer experience. Moreover, digital identity management solutions facilitate various functionalities such as mobile authentication and registration, eHealth and ePassports, eSignatures for official digital documents, and the safeguarding of shared resources.
The market's growth is propelled by factors such as the rising frequency and sophistication of authentication and identity frauds in the Banking, Financial Services, and Insurance (BFSI) sector, government initiatives promoting the adoption of digital identity management solutions, and the integration of biometric capabilities into mobile devices. The adoption of cloud-based solutions and the increasing usage of contactless biometric technologies are poised to create growth opportunities for the market.
However, the substantial capital requirements for implementing digital identity management solutions act as a hindrance to market growth. Additionally, misconceptions and a lack of awareness regarding these solutions present significant challenges for industry players.
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The escalating instances of authentication and identity frauds in the BFSI sector, coupled with government initiatives to enhance digital identity management solutions, are key drivers for market growth.
The global digital identity management solutions market is segmented based on various factors, including type, offering, application, identity type, authentication type, organization size, deployment mode, and sector. The report evaluates industry competitors and provides a detailed analysis of the market at regional and country levels.
In 2023, the identity verification and authentication solutions segment is anticipated to hold the largest market share, driven by government initiatives, biometric authentication solutions, and increasing demand.
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The hardware segment is expected to dominate the market in 2023, attributed to increased investments in efficient hardware solutions and advanced technology integration.
Workforce identity management is projected to account for the largest share in 2023 based on application, driven by the growing demand for secure remote workforce access and scalable platforms.
The biometric solutions segment is forecasted to have a larger market share in 2023 based on identity type, owing to increased adoption in the BFSI sector and technological advancements.
The on-premise deployment segment is expected to lead in 2023, with the cloud-based segment projected to exhibit the highest CAGR during the forecast period.
In 2023, the IT and telecommunications sector is predicted to hold the largest market share, while the healthcare sector is expected to register the highest CAGR.
Asia-Pacific is expected to account for the largest market share in 2023, driven by increasing demand for digital identities, government services, and market players' efforts.
Key players in the global digital identity management solutions market include Thales Group, NEC Corporation, IDEMIA, GB Group plc, ForgeRock, Samsung SDS Co., Ltd., ImageWare Systems Incorporated, Signicat, Syntizen Technologies Pvt. Ltd., HashCash Consultants, Jumio Corporation, Vintegris, Daon, Cloudflare, and Refinitiv Limited.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/digital-identity-management-solutions-market-5443
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
About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
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