Press release
Digital Identity Market: Noteworthy Growth, Key Drivers, and Emerging Trends
Digital identity Market Size
• The digital identity market has gained significant traction in recent years advancing from $29.52 billion in 2024 to $33.36 billion in 2025 with a Compound Annual Growth Rate (CAGR) of 13.0%.
• This growth in the historical period is attributed to increasing cybersecurity concerns, regulatory compliance requirements, rise in online transactions, identity theft and fraud prevention, and enhanced user convenience and experience.
• The digital identity market is anticipated to witness accelerated growth in the coming years, hitting $65.61 billion in 2029 at a CAGR of 18.4%.
• This growth in the forecast period can be credited to emerging decentralized identity, biometric authentication adoption, expansion of digital services, health, and safety use cases.
What Is Driving The Growth In The Digital Identity Market?
Increased incidents of identity-related fraud and data breaches are significantly contributing to the growth of the digital identity market. Identity fraud, a crime where someone illegitimately obtains and uses others' data for economic gain through fraud and deception, is increasingly prevalent across the globe. Many industries are adopting advanced digital identity solutions to mitigate such frauds and thefts. For example, the US-based Identity Theft Resource Center (ITRC) reported a 78% increase in data compromises in 2023, rising from 1,801 in 2022 to 3,205 in January 2024. This surge in identity-related fraud and data breaches is set to boost the digital identity market in the forecast period.
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Who Are the Key Players Driving Digital Identity Market Growth?
• NEC Corporation
• Thales Group
• Samsung SDS
• Okta Inc.
• RSA Security LLC
• Ping Identity Corporation
• GB Group PLC
• ForgeRock Inc.
• Centrify Corporation
• BioCatch Ltd.
• Keyfactor Inc.
• iProov Ltd.
• OneLogin Inc.
• Socure Inc.
• Sum&Substance Ltd.
• Auth0 Inc.
• Idaptive LLC
• SEON Technologies AG
• LoginID Inc.
• Authlete Inc., and many others.
What Are The Key Trends In The Digital Identity Market?
• Increasing regulations on biometric data privacy
• Evolution of AI-powered identity verification
• Rise of identity-as-a-service (IDaaS)
• Evolution of multi-factor authentication (MFA)
• Cross-industry collaboration on digital identity standards
What Are The Segments Of The Global Digital Identity Market?
• By Component: Solutions, Services
• By Type: Single-factor Authentication, Multi-factor Authentication
• By Deployment Type: Cloud, On-Premises
• By Organization Size: Large Enterprises, SMEs
• By Vertical: BFSI, Retail And E-Commerce, Government And Defense, Healthcare, IT And ITeS, Telecommunications, Energy And Utilities, Other Verticals
Which Region Leads The Digital Identity Market?
In 2024, North America emerged as the largest region in the digital identity market. The future, however, sees the Asia-Pacific region as the fastest-growing in the forecast period. The regions covered in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What Is Covered In The Digital Identity Market Global Market Report?
- Market Size Analysis: Analyze the Digital Identity Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Digital Identity Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Digital Identity Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Digital Identity Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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