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Global Digital Identity Solutions Market to reach USD 58.47 Billion by 2027.

Global Digital Identity Solutions Market Size study, by Component (Solution, Services) by Solution (Bio-metrics, Non-biometrics), by Authentication (Single-factor authentication, Multi-factor authentication), and Regional Forecasts 2021-2027

Product Code: ICTEITS-78177549
Publish Date: 2-09-2021
Page: 200

Global Digital Identity Solutions Market is valued approximately at USD 20.44 Billion in 2020 and is anticipated to grow with a healthy growth rate of more than 16.2% over the forecast period 2021-2027. Digital identity-based security consists of biometric technology and includes multi-factor authentication, and is a better and secure way of authentication as compared to passwords. The global Digital Identity Solutions market is being driven by rising incidences of frauds related to identity and authentication, biometrics integration in smartphones as well as increase in focus towards enhancing end-to-end customer experience. . Furthermore, integration of AI, ML, and block chain technologies to enhance digital identities and growing adoption of the cloud-based digital identity solutions will provide new opportunities for the global Digital Identity Solutions industry. For instance, according to the Aite Group, in 2020, around 47% of Americans had experienced financial identity theft in 2020. Also, in US, the Stark Reality found that losses from identity theft cases cost around USD 502.5 billion in 2019 and increased by 42% amounting to USD 712.4 billion in year 2020. As a result, increase in identity and authentication frauds will necessitate the use of Digital Identity Solutions, thus propelling the market forward. However, higher cost involved in deploying digital identity solutions and lack of information security of consumer data, may impede market growth over the forecast period of 2021-2027.

Asia Pacific, North America, Europe, Latin America, and Rest of the World are the key regions considered for the regional analysis of global Digital Identity Solutions Market. The presence of several prominent market players delivering advanced solutions to all the industry verticals in the region makes North America the leading region across the world in terms of market share. Whereas North America is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to rising strategic investments, partnerships, and rising R&D activities in the region.
Major market player included in this report are:

Samsung SDS
Thales Group

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component :
By Solution:
By Authentication:
Single-factor authentication
Multi-factor authentication

By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.

Target Audience of the Global Digital Identity Solutions Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Digital Identity Solutions Market , by Region, 2019-2027 (USD Billion)
1.2.2. Digital Identity Solutions Market , by Component , 2019-2027 (USD Billion)
1.2.3. Digital Identity Solutions Market , by Solution , 2019-2027 (USD Billion)
1.2.4. Digital Identity Solutions Market , by Authentication , 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Digital Identity Solutions Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Digital Identity Solutions Market Dynamics
3.1. Digital Identity Solutions Market Impact Analysis (2019-2027)
3.1.1. Market Drivers Rise in identity and authentication frauds Integration of biometrics in smartphones Increased focus to enhance end-to-end customer experience
3.1.2. Market Restraint Higher cost involved in deploying digital identity solutions Lack of information security of consumer data
3.1.3. Market Opportunities Integration of AI, ML, and block chain technologies to enhance digital identities Increase in adoption of the cloud-based digital identity solutions
Chapter 4. Global Digital Identity Solutions Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Digital Identity Solutions Market , by Component
5.1. Market Snapshot
5.2. Global Digital Identity Solutions Market by Component , Performance – Potential Analysis
5.3. Global Digital Identity Solutions Market Estimates & Forecasts by Component 2018-2027 (USD Billion)
5.4. Digital Identity Solutions Market , Sub Segment Analysis
5.4.1. Solutions
5.4.2. Services
Chapter 6. Global Digital Identity Solutions Market , by Solution
a. Market Snapshot
6.1. Global Digital Identity Solutions Market by Solution, Performance – Potential Analysis
6.2. Global Digital Identity Solutions Market Estimates & Forecasts by Solution 2018-2027 (USD Billion)
6.3. Digital Identity Solutions Market , Sub Segment Analysis
6.3.1. Biometrics
6.3.2. Non-Biometrics
Chapter 7. Global Digital Identity Solutions Market , by Authentication
b. Market Snapshot
7.1. Global Digital Identity Solutions Market by Authentication , Performance – Potential Analysis
7.2. Global Digital Identity Solutions Market Estimates & Forecasts by Authentication 2018-2027 (USD Billion)
7.3. Digital Identity Solutions Market , Sub Segment Analysis
7.3.1. Single-factor authentication
7.3.2. Multi-factor authentication
Chapter 8. Global Digital Identity Solutions Market , Regional Analysis
8.1. Digital Identity Solutions Market , Regional Market Snapshot
8.2. North America Digital Identity Solutions Market
8.2.1. U.S. Digital Identity Solutions Market Component breakdown estimates & forecasts, 2018-2027 Solution breakdown estimates & forecasts, 2018-2027 Authentication breakdown estimates & forecasts, 2018-2027
8.2.2. Canada Digital Identity Solutions Market
8.3. Europe Digital Identity Solutions Market Snapshot
8.3.1. U.K. Digital Identity Solutions Market
8.3.2. Germany Digital Identity Solutions Market
8.3.3. France Digital Identity Solutions Market
8.3.4. Spain Digital Identity Solutions Market
8.3.5. Italy Digital Identity Solutions Market
8.3.6. Rest of Europe Digital Identity Solutions Market
8.4. Asia-Pacific Digital Identity Solutions Market Snapshot
8.4.1. China Digital Identity Solutions Market
8.4.2. India Digital Identity Solutions Market
8.4.3. Japan Digital Identity Solutions Market
8.4.4. Australia Digital Identity Solutions Market
8.4.5. South Korea Digital Identity Solutions Market
8.4.6. Rest of Asia Pacific Digital Identity Solutions Market
8.5. Latin America Digital Identity Solutions Market Snapshot
8.5.1. Brazil Digital Identity Solutions Market
8.5.2. Mexico Digital Identity Solutions Market
8.6. Rest of The World Digital Identity Solutions Market
Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. NEC Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. Samsung SDS
9.2.3. Thales Group
9.2.4. GBC
9.2.5. Telus
9.2.6. Tessi
9.2.7. Daon
9.2.8. IDEMIA
9.2.9. Forgerock
9.2.10. Jumio

Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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