Global Digital Identity Solutions Market to Hit USD 215.78 Bn by 2035 | CAGR 16.4%

Read more about this report- Global Digital Identity Solutions Market to Hit USD 215.78 Bn by 2035 | CAGR 16.4%

The Digital Identity Solutions Market is valued at USD 40.60 Billion in 2024. The Digital Identity Solutions Market will achieve USD 215.78 Billion by 2035 through a projected 16.4% CAGR from 2025 to 2035.

The increasing cyber threats and the necessity to perform safe authentication on digital platforms are posing a significant growth driver, whereas the issues of data privacy and complexity of legislation represent a major growth inhibitor. But with the increased implementation of AI and blockchain in identity verification, the potential of growth in the market opens up.

Biometrics and non-biometrics are the two categories into which the digital identity market is divided. Both single-factor and multi-factor authentication are available, as are cloud and on-premise deployment options. applications, such as BFSI, government, healthcare, retail, IT, and telecom, and the size of the organisation in both large and small businesses. Because smartphones are becoming more and more common and because facial and fingerprint recognition technology combines security and usefulness, biometrics is the most popular type.

Digital identity can be used as a banking & finance use case for border control, eGovernment, healthcare access, and digital onboarding. Digital identity solutions in healthcare simplify the process of patient verification, prevent fraud, and facilitate the telemedicine model, which includes real-time authentication of patient identity and can be further improved by including patient ID systems that integrate AI and secure mobile health applications.

Policy and financial inclusion campaigns expedite the process. e.g., the Aadhaar digital signature system in India keeps spreading out access to modern services and financial services, which considerably boosts the adoption of secure digital identification systems.

There are five geographical regions that support the digital identity solutions market, and these include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In the case of the United Kingdom, there are stricter data protection regulations and eID programs that ignite the demand and swiftly integrate digital identity systems in both the public and private sectors.

Key players in the digital identity solutions industry are NEC Corporation, Thales Group, IDEMIA, Okta Inc., and Microsoft Corporation. These firms are affecting the marketplace by broadening identity-as-a-service providers, investing in AI and biometric research and development, and going over to regimes and businesses to create safe and scalable identity platforms.