Press release
Navigating The Surge In Cybersecurity Threats And The Rise Of Digital Trust: An Emerging Driver Transforming The Digital Trust Market Landscape
Digital Trust
What Is the Projected Growth of the Digital Trust Market?
The size of the digital trust market has seen fast-paced growth in recent years. It is predicted to expand from $410.06 billion in 2024 to $487.78 billion in 2025, with a compound annual growth rate (CAGR) of 19.0%. This growth during the historical period can be traced back to an increase in data breaches and privacy worries, digital transformation schemes, tough regulatory demands, and a rising acceptance of digital transformation.
The market size for digital trust is anticipated to experience a swift expansion in the subsequent years, ballooning to $963.9 billion in 2029 with a CAGR of 18.6%. The increase during the predicted period can be ascribed to the proliferation of IoT, the incorporation of 5G technology, adoption of zero trust architecture, and speedy migration to the cloud. Key trends during this forecasted time span include the use of blockchain for trust verification, the emergence of decentralized identity solutions, quantum-resistant cryptography, interoperability standards, and AI-driven threat intelligence.
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What Are the Different Digital Trust Market Segments?
The digital trust market covered in this report is segmented -
1) By Component: Solution, Services
2) By Solution Type: Data Verification, Authentication, ID Authentication, Fraud Prevention, Compliance, Other Solutions
3) By Deployment Model: On-Premises, Cloud-Based, Hybrid
4) By Organization Size: Large Enterprise, Small And Medium-Sized Enterprises
5) By End-User Industry: Banking, Financial Services, And Insurance, Healthcare, Information Technology And Telecommunications, Government And Public Sector, Retail And E-Commerce, Energy And Utilities, Other End-User Industries
Subsegments:
1) By Solution: Identity And Access Management (IAM), Public Key Infrastructure (PKI), Encryption, Blockchain And Distributed Ledger Technologies, Digital Signature, Secure Communication, Data Privacy
2) By Services: Professional Services (Consulting, Implementation, Integration), Managed Services, Support And Maintenance Services
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What Are the Primary Drivers Shaping the Digital Trust Market?
The escalating concerns over cybersecurity threats are predicted to fuel the expansion of the digital trust market. Cybersecurity threats encompass a variety of risks that could violate the safety of digital systems and information. The swift digitalisation of businesses and institutions has quickened the uptake of cloud computing, teleworking, and digital services, hence introducing new challenges and weak points in IT setups. Digital trust plays a key role in mitigating cybersecurity threats by advocating for security, transparency, cooperation, resilience, and accountability in the digital sphere through building trust with stakeholders and applying robust cybersecurity measures. For example, in January 2024, the Australian Cyber Security Centre, a government agency based in Australia, published an annual cyber threat report stating over 76,000 cybercrime reports were lodged between 2021 and 2022, representing almost a 13% rise compared to the prior year. Hence, the escalating cybersecurity threats are stimulating the expansion of the digital trust market.
Which Companies Are Leading in the Digital Trust Market?
Major companies operating in the digital trust market are 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
What Are the Major Trends Shaping the Digital Trust Market?
Renowned companies in the digital trust market, such as GoCertius, are prioritizing the development of innovative software applications to enhance digital security. The GoCertius app, a product of their creative endeavors, is designed to offer digital evidence with maximum legal authentication and protection. It provides certification services for a variety of digital materials such as videos, images, and electronic files. Garrigues, a legal services firm in Spain, rolled out the GoCertius app in December 2023, thereby positioning itself in the digital trust sphere. This electronic certification tool guarantees the integrity and legal security of digital files. The launch of this app by Garrigues is a considerable advancement towards legal innovation as it presents a new benchmark in offering secure digital certification services to users. The app also produces legally secure digital evidence for any digital files.
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What Are the Top Revenue-Generating Geographies in the Digital Trust Market?
North America was the largest region in the digital trust market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital trust market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Digital Trust Market?
2. What is the CAGR expected in the Digital Trust Market?
3. What Are the Key Innovations Transforming the Digital Trust Industry?
4. Which Region Is Leading the Digital Trust Market?
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