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Digital Identity Solution Market Share

Report ID: GMI6198
Published Date: Jul 2024
Report Format: PDF

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Digital Identity Solution Market Share

Microsoft Corporation, IBM Corporation, and NEC Corporation held significant market share of over 17% in 2023. Microsoft Corporation is bolstering its digital identity solutions by integrating them with Azure Active Directory and Office 365, streamlining identity management for enterprises. Additionally, the company is focused on blockchain-based solutions, aiming to pioneer decentralized identity management.

IBM Corporation is harnessing the power of Watson AI to elevate its identity verification, anomaly detection, and threat prediction capabilities. Moreover, IBM tailors digital identity solutions for key sectors such as banking, healthcare, and government, ensuring strict adherence to industry regulations such as GDPR and HIPAA.

NEC Corporation remains at the forefront of biometric innovations, focusing on technologies like facial recognition, fingerprint scanning, and iris recognition. Complementing this, NEC is focused on identity solutions that safeguard IoT devices and efficiently manage identities within IoT ecosystems.

Digital Identity Solution Market Companies

Major companies operating in the digital identity solution industry include:

Microsoft Corporation
IBM Corporation
NEC Corporation
Thales Group
TELUS
IDEMIA
Okta, Inc.
Ping Identity Corporation
Jumio Corporation
Onfido Ltd.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of digital identity solution reached USD 27.9 billion in 2023 and is set to record over 16% CAGR from 2024 to 2032, due to the rising workforces and proliferation of connected networking devices

The solutions component segment held 63% of the market share in 2023, driven by technological advancements in software, hardware, cloud platforms, integration services, and service offerings to bolster the efficacy, scalability, and reliability of these solutions.

North America recorded over 36% of the market share in 2023, owing to the presence of a well-established digital economy, fueled by surge in online transactions, e-commerce, and digital engagements

Some of the prominent digital identity solution market players include Microsoft Corporation, IBM Corporation, NEC Corporation, Thales Group, IDEMIA, Okta, Inc., and TELUS.