"Smart Strategies, Giving Speed to your Growth Trajectory"
Digital identity services manage identity risk, authentication credentials, and individual user database. It allows to manage access of the confidential data of partners, employee, customers, digital document, connected devices data among others. The digital identity services plays an important role in an organization where information is kept confidential and secured, organization such as BFSI, government, education sector, defense among others. The rising identity and authentication frauds are forcing organizations to adopt digital identity solutions. Increasing focus to enhance end-to-end customer experience is also one of the key factors supporting the growth of thee global market
Over the years, digital identity management solutions have developed from conventional password solutions to biometric authentication, such as fingerprint, facial recognition, and voice recognition. Biometric solutions are becoming popular each day, as the biometric features are unique for every individual. The biometric solution follows lock patterns and captures the mechanism for verifying the individual and allow access. The security and convenience offered by the biometric solutions drive the significant demand for digital identity services. The multifactor authentication facility provided by the biometric identity solutions would likely bolster market growth during the forecast period. The market growth is also driven by the increased focus on improving endwise customer experience.
The developments in digital identity solutions owing to innovative technologies such as artificial intelligence, machine learning would be likely to contribute significantly to the market growth.
Key Market Driver -
• Work from home policy will be driving the market growth • Rising of identity frauds support in the growth of the market
Key Market Restraint -
• Identity theft and misuse of data and privacy will restraint market growth
The key players operating in the global digital identity service market are adopting various business strategies to expand their business and customer base across the globe. The significant players offer advanced digital identity solutions to satisfy the dynamic needs and demands of the consumers. Partnerships, collaborations, and strategic agreements are the Key business growth strategies adopted by the vendors. New product launches and enhancements in the existing product portfolio help market players improve their position in a global marketplace.
The key players operating the global digital identity service market include NEC Corporation, Samsung Electronics, Thales Group, Ubisecure, Inc., OneLogin, Inc., Telus, Atos SE, IDEMIA, Tessi, ForgeRock, Okta, Refinitiv, Imageware Systems, Verisec, Centrify, and among others.
North America is expected to show higher market share in digital identity service market. Rapid growth in digitalization has encouraged organization in North America to adopt identity management services. In 2018, Canada has introduced digital identity scheme named Pan Candaian-Trust Framework introduced by Digital ID Authentacation Canada for login authentaction services called Sign In Canada.
The Asia Pacific encompasses immense developing economies, such as Japan, China, Singapore, India, and South Korea. Factors such as eKYC has been introduced by the Indian government helps in tracking identity related frauds. In 2016, indian nation ID scheme – Adhaar crossed 1 bn users. Further, there were 1,2 bn residents were having Adhaar ID with 99% were adults. The Adhaar can be made based on users demographic and biometric data. The well-known Asian countries such as China, India, Singapore, and Japan have already started deploying digital identity solutions. Increased public awareness about identity authentication, huge investments made by the government for securing citizens' identities, and incorporation of advanced technologies such as machine learning, artificial intelligence, or blockchain would further likely assist market growth across the region.
Initiatives taken by the government of Arab countries to develop electronic or digital identities would likely drive the market growth across the Middle East and Africa. For instance, the official identity management policy by the government of South Africa would affect the global digital identity service market positively.
To gain extensive insights into the market, Request for Customization
By Authentication Type
By Enterprise Size
“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”- U.S.-based biotechnology company focussing on treatment of chronic pain.
“Kudos to your team. Thank you very much for your support and agility to answer our questions.”- Europe-based provider of solutions to automate data centre operations.
“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”- India-based manufacturer of industrial and specialty intermediates with a strong global presence.
“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”- One of the largest cosmetics company in the world.
“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”- U.S. based startup operating in the cultivated meat market.
“We received the below report on the U.S. market from you. We were very satisfied with the report.”- Global hearing aids manufacturer.
“I just finished my first pass-through of the report. Great work! Thank you!”- U.S. based solar racking solutions provider.
“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”- World’s leading advisory firm.
“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”- Germany based machine construction company.
“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”- Japanese manufacturing company of stationery products.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry