Press release
Building a Secure Digital Future with Digital Trust Solutions
According to The Business Research Company's, The digital trust market size has grown rapidly in recent years. It will grow from $346.02 billion in 2023 to $410.06 billion in 2024 at a compound annual growth rate (CAGR) of 18.5%. The growth in the historic period can be attributed to increasing data breaches and privacy concerns, digital transformation initiatives, stringent regulatory requirements, growing adoption of digital transformation.
The digital trust market size is expected to see rapid growth in the next few years. It will grow to $813.72 billion in 2028 at a compound annual growth rate (CAGR) of 18.7%. The growth in the forecast period can be attributed to IoT expansion, 5G adoption, zero trust architecture adoption, rapid cloud migration. Major trends in the forecast period include blockchain for trust verification, decentralized identity solutions, quantum-safe cryptography, interoperability standards, AI-powered threat intelligence.
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Market Drivers and Trends:
The growing cybersecurity threats are expected to propel the growth of the digital trust market going forward. Cybersecurity threats refer to various risks and dangers that can compromise the security of digital systems and data. The digital transformation of businesses and organizations has accelerated the adoption of cloud computing, remote work, and digital services, introducing new complexities and vulnerabilities into IT environments. Digital trust is critical in curbing cybersecurity threats by promoting security, transparency, collaboration, resilience, and accountability in the digital ecosystem by fostering trust among stakeholders and implementing robust cybersecurity practices. For instance, in January 2024, according to an annual cyber threat report published by the Australian Cyber Security Centre, an Australian-based government agency, over 76,000 cybercrime reports were made between 2021 and 2022, marking a nearly 13% increase compared to the previous year. Therefore, the growing cybersecurity threats are driving the growth of the digital trust market.
Major companies operating in the digital trust market are focusing on innovations in software solutions such as the GoCertius application, to provide seamless digital security. The GoCertius app is a digital trust product developed to provide digital evidence with maximum protection and legal efficacy, securely offering certification services for videos, images, and electronic files. For instance, in December 2023, Garrigues, a Spain-based legal services provider, launched the GoCertius app. This electronic certification tool ensures digital files' integrity and legal security, placing the firm in the digital trust market. This app aims to generate secure digital evidence legally valid for any digital files. This represents a significant step towards legal innovation for Garrigues, marking a milestone in providing secure digital certification services to users.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Microsoft Corporation, International Business Machines Corporation, Cisco Systems Inc., Sophos Group, Oracle Corporation, VMware Inc., Thales Group, Fortinet Inc., Gemalto N.V., Gen Digital Inc., NortonLifeLock, Splunk Inc., Check Point Software Technologies, McAfee LLC, Okta Inc., Trend Micro, Verisign Inc., Proofpoint Inc., Zscaler Inc., Kaspersky Lab, Rapid7 Inc., Akamai Technologies, Entrust Inc., Ping Identity Corporation, Trustwave Holdings Inc., ForgeRock Inc., Trellix Inc
Digital Trust Market 2024 Key Insights:
• The digital trust market size is expected to see rapid growth in the next few years. It will grow to $813.72 billion in 2028 at a compound annual growth rate (CAGR) of 18.7%.
• Navigating The Surge In Cybersecurity Threats And The Rise Of Digital Trust
• Innovating Digital Trust With Secure Certification Services
• North America was the largest region in the digital trust market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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