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What Is The Leading Driver Behind Navigating The Surge In Cybersecurity Threats And The Rise Of Digital Trust Market Expansion in 2025
Digital Trust Market
What Will the Digital Trust Industry Market Size Be by 2025?
The size of the digital trust market has seen a swift expansion in the past few years. The market is expected to surge from $410.06 billion in 2024 to $484.1 billion in 2025, marking a compound annual growth rate (CAGR) of 18.1%. Factors such as the rise in data breaches, privacy-related concerns, digital change operations, strict regulatory norms, and increasing adoption of digital transitions are responsible for the market's growth during the historical period.
What's the Long-Term Growth Forecast for the Digital Trust Market Size Through 2029?
The forecasted expansion of the digital trust market is predicted to be swift in the coming years, with the market size increasing to a staggering $906.2 billion by 2029, at a compound annual growth rate (CAGR) of 17.0%. This robust growth can be ascribed to the proliferation of the Internet of Things (IoT), the widespread adoption of 5G, the acceptance of zero trust architecture, and swift migration to the cloud. Predicted trends for this period include the increased use of blockchain for trust authentication, adoption of decentralized identification solutions, progression of quantum-safe encryption, implementation of interoperability standards, and intelligence threats driven by artificial intelligence.
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What Are the Key Growth Drivers Fueling the Digital Trust Market Expansion?
The increasing cyber threats are anticipated to stimulate the expansion of the digital trust market. These threats denote all potential risks capable of breaching the security of digital networks and the associated data. The swift shift towards digitalisation in businesses and organizations has boosted the adoption of cloud computing, work from home practices and digital solutions, bringing newer complexities and susceptibilities in the IT scenarios. Ensuring digital trust plays an integral role in mitigating cyber threats as it advocates for transparency, safety, collaboration, resilience and accountability in the digital world and builds trust among stakeholders by incorporating robust cybersecurity measures. For example, a yearly report published in January 2024 by the Australian Cyber Security Centre, a government body based in Australia, indicated that there were over 76,000 cybercrime report submissions between 2021 and 2022, showing a nearly 13% spike in contrast to the previous year. Hence, the escalation in cyber threats is propelling the digital trust market's development.
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What Are the Key Trends Driving Digital Trust Market Growth?
Companies at the forefront of the digital trust space are placing emphasis on unique software solutions, such as the GoCertius application, to enhance digital security. Developed to offer comprehensive protection and legal potency for digital evidence, the GoCertius app securely facilitates certification services for electronic files, videos, and images. Notably, in December 2023, the Spanish legal service provider, Garrigues, introduced the GoCertius app. This digital certification tool strengthens the legal security and integrity of digital files, thereby improving Garrigues' position within the digital trust landscape. Its primary objective is to produce secure digital evidence that holds legal validity across all digital files. This crucial move signifies Garrigues' commitment to legal innovation, while establishing a noteworthy landmark in delivering secure digital certification services to its users.
How Is the Digital Trust Market Segmented?
The digital trustmarket 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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Which Companies Are Leading the Charge in Digital Trust Market Innovation?
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
Which Regions Are Leading the Global Digital Trust Market in Revenue?
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.
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