Growing cybersecurity threats, and digital transformation is expected to drive market expansion in the near future at a CAGR of 23.6% during the forecast period 2023 to 2032.

Market Research Future (MRFR) has published a cooked research report on the “Global Digital Identity Market” that contains information from 2018 to 2032. The digital identity market is estimated to register a CAGR of 23.6% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global digital identity market— NEC (Japan), Samsung SDS (South Korea), Thales (France), Telus (Canada), IDEMIA (France), GBG (UK), Tessi (France), Daon (US), ForgeRock (US), ImageWare (US), Jumio (US), iProov (UK), ID R&D (US), Refinitiv (UK), OneSpan (US), Smartmatic (UK), Freja EID Group (Sweden), Vintegris (Spain), AU10TIX (Israel), Signicat (Norway), Duo Security (US), Syntizen (India), Hashcash Consultant (US) and Good Digital Identity (Czech Republic).

Digital Identity Market Overview

The global digital identity market is accounted to register a CAGR of 23.6% during the forecast period and is estimated to reach USD 428.2 Billion by 2032.

The digital identity market is experiencing significant growth as societies and industries increasingly digitize. It revolves around technologies and solutions designed to securely authenticate and verify individuals' online identities. This market is crucial for sectors like finance, healthcare, and e-commerce, where trust and security are paramount. As data breaches and identity theft become more prevalent, the digital identity market plays a pivotal role in safeguarding sensitive information and ensuring seamless, secure online interactions.

Segment Analysis

The global digital identity market has been segmented based on offering, solution type, identity type, organization size, and vertical.

On the basis of offering, the market is segmented into solutions and services. The solutions segment dominated the market in 2022. Cyberthreats are more prevalent and sophisticated than ever. Hackers target private data, exploit holes in established authentication protocols, and constantly refine their tactics.

Based on solution type, the global digital identity market has been segmented into identity verification, authentication, identity lifecycle management and other solution types. The identity verification segment dominated the market in 2022. The main motivation for identity verification systems is regulatory compliance. Governments all across the world have enacted stringent data privacy laws, such as the GDPR in Europe and KYC (Know Your Customer) norms in the financial industry.

Based on identity type, the global digital identity market has been segmented into biometric and non- biometric. The biometric segment dominated the market in 2022. As a result of the COVID-19 epidemic, worries regarding sanitation and the safety of shared touch surfaces have risen.

Based on organization size, the global digital identity market has been segmented into large organization and SMEs. The SMEs segment dominated the market in 2022. SMEs are more and more susceptible to cybersecurity risks since they might not have the means or knowledge to put strong security measures in place.

Based on vertical, the global digital identity market has been segmented into BFSI, retail and ecommerce, government and defence, healthcare, IT and ITeS, telecommunications, energy and utilities and other verticals. The BFSI category generated the most income in 2022. SMEs are more and more susceptible to cybersecurity risks since they might not have the means or knowledge to put strong security measures in place.

Regional Analysis

The global digital identity market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe digital identity market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The digital identity market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World digital identity market comprises of Middle East, Africa, and Latin America.

The North America digital identity market dominated this market in 2022 (45.80%). North America, specifically the United States and Canada, has implemented stringent data privacy laws like the California Consumer Privacy Act (CCPA) and the General Data privacy Regulation (GDPR). The legislation's need that businesses build robust digital identification solutions to protect data privacy and security has stimulated the adoption of identity and access management (IAM) systems, biometric authentication, and other identity verification techniques.

Moreover, the second-largest market share belongs to the digital identity market in Europe. The digital identity environment in Europe has been significantly impacted by the GDPR of the European Union. Businesses from all sectors have been forced to invest in digital identity solutions in order to meet GDPR's strict standards for data protection, especially with regard to permission and data subject rights.

Additionally, the Asia-Pacific digital identity market is expected to grow at the fastest CAGR from 2023 to 2032. The Asia-Pacific region is going through a rapid digital revolution across several industries. Digital identity solutions are crucial to this transformation because they make it possible for people and businesses to communicate safely and easily online.

Furthermore, the rest of the world's digital identity market is divided into the Middle East, Africa, and Latin America. In Latin America, the digital identity market is expanding rapidly in response to the region's growing digitalization. This market encompasses technologies and systems that provide secure and reliable online identity verification. As the region embraces digital services across finance, healthcare, and e-commerce, the demand for robust digital identity solutions is surging. Latin America's digital identity market plays a crucial role in enhancing security, reducing fraud, and enabling trust in online transactions, contributing to the region's digital transformation.

Key Findings of the Study

• The global digital identity market is expected to reach USD 428.2 Billion by 2032, at a CAGR of 23.3% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market. Across many industries, the Asia-Pacific region is undergoing a rapid digital transition.


• Based on identity type, the biometric segment was attributed to holding the largest market in 2022.


• NEC (Japan), Samsung SDS (South Korea), Thales (France), Telus (Canada), IDEMIA (France), GBG (UK), Tessi (France), Daon (US), ForgeRock (US), ImageWare (US), Jumio (US), iProov (UK), ID R&D (US), Refinitiv (UK), OneSpan (US), Smartmatic (UK), Freja EID Group (Sweden), Vintegris (Spain), AU10TIX (Israel), Signicat (Norway), Duo Security (US), Syntizen (India), Hashcash Consultant (US) and Good Digital Identity (Czech Republic) are key market players.