Digital Trust Market

Growing cyber security threats are driving the market growth

Market CAGR for digital trust is being driven by the rising number of cyber security threats. The growing incidence and sophistication of data breaches and cyber-attacks increases the necessity for cyber security and privacy. Digital trust solutions are in larger demand from both individuals and organizations in order to secure confidential information and stop illegal access. Additionally, organizations are becoming more vulnerable to cyber-attacks as a consequence of the rise in cyber-attacks and the digitalization of their actions.

As a result, there is an increasing necessity for digital trust solutions to assist organizations and companies in safeguarding their systems against intrusions. For example, a Texas-based IT security business, Netwrix, revealed that 60% of organizations of all sizes experience cyber-attacks every year. Netwrix manufacturers’ tools assist organizations in detecting and securing critical data, as well as support compliance auditing.

The need for safe and dependable digital connections has increased due to the continuous digital transformation taking place in a number of areas, including government, retail, healthcare, and finance. The need for digital trust solutions is to form user confidence, and trust is growing as more transactions and services take place online. Stringent data protection and privacy laws, like the CCPA in California and the GDPR in Europe, require businesses to put robust security methods in place and guarantee trust in digital transactions. These rules drive the adoption of digital trust technology.

As a result, it is anticipated that throughout the projection period, demand for digital trust will increase due to the rising cyber-security threats. Thus, driving the Digital Trust market revenue.

The Global Digital Trust Market Industry is poised for substantial growth, with projections indicating a market size of 346.9 USD Billion in 2024 and an anticipated increase to 1077.7 USD Billion by 2035. This growth trajectory suggests a compound annual growth rate of 10.85% from 2025 to 2035, reflecting the increasing importance of digital trust in various sectors. The demand for secure digital environments is likely to drive investments in innovative technologies and solutions, positioning digital trust as a cornerstone of business strategy in the coming years. Organizations that prioritize digital trust are expected to thrive in an increasingly competitive landscape.

The Global Digital Trust Market Industry is increasingly driven by the rising prevalence of cybersecurity threats. As organizations worldwide face sophisticated cyberattacks, the demand for robust digital trust solutions escalates. In 2024, the market is projected to reach 346.9 USD Billion, reflecting a growing recognition of the need for enhanced security measures. Companies are investing in advanced technologies such as artificial intelligence and machine learning to bolster their defenses. This trend indicates a shift towards proactive security strategies, where businesses prioritize digital trust as a core component of their operational framework.

Regulatory compliance is a pivotal driver in the Global Digital Trust Market Industry. Governments across the globe are implementing stringent regulations to protect consumer data and ensure privacy. This regulatory landscape compels organizations to adopt digital trust solutions that align with compliance mandates. As a result, businesses are increasingly investing in technologies that facilitate adherence to regulations such as GDPR and CCPA. The anticipated growth of the market to 1077.7 USD Billion by 2035 underscores the importance of compliance in shaping digital trust strategies. Organizations that fail to comply may face significant penalties, further incentivizing investment in digital trust solutions.

Emerging technologies and innovations are reshaping the Global Digital Trust Market Industry. Advancements in blockchain, biometrics, and encryption technologies are enhancing the security and reliability of digital transactions. These innovations not only bolster consumer confidence but also streamline processes for organizations. As the market evolves, the integration of these technologies is expected to drive substantial growth, with projections indicating a market size of 1077.7 USD Billion by 2035. Companies that leverage these cutting-edge solutions are likely to establish themselves as leaders in the digital trust landscape, fostering a culture of security and transparency.

Consumer demand for enhanced privacy and security is a significant driver of the Global Digital Trust Market Industry. As individuals become more aware of data breaches and privacy concerns, they are increasingly seeking services and products that prioritize their security. This shift in consumer behavior compels organizations to adopt digital trust solutions that assure customers of their data protection measures. The market's growth trajectory, projected to reach 346.9 USD Billion in 2024, reflects this heightened consumer awareness. Businesses that effectively communicate their commitment to digital trust are likely to gain a competitive advantage in attracting and retaining customers.

The ongoing digital transformation initiatives across various sectors are propelling the Global Digital Trust Market Industry. As businesses transition to digital platforms, they encounter new challenges related to data integrity and security. This shift necessitates the implementation of digital trust solutions to ensure secure transactions and protect sensitive information. The projected compound annual growth rate of 10.85% from 2025 to 2035 highlights the growing recognition of digital trust as a critical enabler of successful digital transformation. Organizations are increasingly prioritizing investments in digital trust technologies to foster customer confidence and enhance their competitive edge.

By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The North American Digital Trust market area will dominate this market, owing to an increase in digital transformation. In addition, the growing number of cyber-attacks with internet penetration will boost market growth in this region.

Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, and South Korea.

Figure 3: Digital Trust Market Share By Region 2023 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe Digital Trust market accounts for the second-largest market share due to the rising number of startups and increasing digital transformation. Further, the German Digital Trust market held the largest market share, and the UK Digital Trust market was the fastest-growing market in the European region.

The Asia-Pacific Digital Trust Market is expected to grow at the fastest CAGR from 2024 to 2032 due to rising concern about personal data breaches, data privacy, and cyber-attacks. Moreover, China's Digital Trust market held the largest market share, and the Indian Digital Trust market was the fastest-growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Digital Trust market grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Digital Trust industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Digital Trust industry to benefit clients and increase the market sector. In recent years, the Digital Trust industry has offered some of the most significant advantages to technology.

Major players in the Digital Trust market, including IBM Corporation, Microsoft Corporation, NASDAQ, Oracle Corporation, Symantec Corporation, Thales Group, Digicert, Inc., Entrust Datacard Corporation, Verizon Communications Inc., Trustwave Holdings, Inc., ForgeRock, Ping Identity Corporation, Cisco Systems, Inc., RSA Security LLC, OneSpan Inc., Okta, Inc., Nok Labs, Inc., Signicat AS, Jumio Corporation, and others, are attempting to increase market demand by investing in research and development operations.

Jumio is an identity verification and online mobile payment provider. They offer solutions under the name "Netverify" Trusted Identity as a Service" that scans and validates cards and IDs for use in mobile and online transactions. In today's digital economy, fraudsters and money launderers have no place. Businesses operating online must be certain that their clients are who they say they are and will remain trustworthy in order to guard against fraud and financial crime.

Jumio uses artificial intelligence, machine learning, biometrics, and state-of-the-art liveness detection to help you swiftly convert more customers, keep frauds out of your online environment, and adhere to KYC/AML standards. In October 2023, an advisory company, NextWealth, and Jumio, a top supplier of AI-powered end-to-end identity verification and eKYC solutions, made a strategic alliance. The partnership sought to increase customer satisfaction and financial institutions' client onboarding processes.

DigiCert, Inc. is a digital security business based in Lehi, Utah. As a certificate authority (CA) and reliable third party, DigiCert offers the public key infrastructure and validation required to issue digital or TLS/SSL certificates. Initially, frustration led to the founding of DigiCert. Cybersecurity should not be challenging. Worry should be relieved, not increased. However, even something as basic as purchasing a certificate was frequently an excruciating, time-consuming, and infuriating trek through phone trees and technical jargon.

In April 2023, A new unified partner program was launched by DigiCert, a top supplier of digital trust solutions, with the goal of offering partners a wide range of services to establish digital trust in real-world situations. This improved program offers comprehensive training, support, and tools to simplify and expedite the implementation of digital trust solutions.