Burgeoning Development of Innovative Identity Management Solutions is Emanating the Growth of the Global Digital Identity Management market

The burgeoning development of innovative identity management solutions, increasing adoption of enterprise IoT along with rising adoption of connected technology such as cloud computing and BYOD and escalating cloud deployment in the organization are the major factor driving the growth of Global Digital Identity Management market. Besides these, escalating venture capital funding, surging investments in digital identity management technology along with surging adoption of identity management by the end-user such as e-commerce & retail, healthcare etc., are anticipated to upsurge the growth of the market in the forthcoming timeline.

According to MarkNtel Advisors’ research report “Global Digital Identity Management Market Analysis, 2020”, the Global Digital Identity Management market is anticipated to grow at a CAGR of around 15% during 2021-26F. Based on Deployment, Cloud-based deployment is anticipated to grow at the highest CAGR by 2026. The growth is attributed to rising demand for cloud computing among the end-users for delivering applications and services to consumers and among businesses as it need require lower capital investment, less implementation time organization and help the organization by storing Identities on the cloud as it authenticates users. Moreover, rising collaboration among the companies in order to develop hybrid cloud offerings to help businesses manage, and transform critical workloads and applications is projected to surge the growth of the segment.

“Global Digital Identity Management Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Digital Identity Management providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.      

North America Acquired the Majority Share

North America acquired the majority share in the market in 2019. US grabbed the highest market share in the North American market owing to the factors such as rising adoption of robotic process automation (RPA) among end-user to increase productivity by as it protects sensitive data, enable secure transactions, and transform business processes. Furthermore, the rising investment toward the adoption of advanced technology such as blockchain, robust digitalization along with the escalating need for compliance management and a significant rise in the demand for mobility solution is anticipated to upsurge the growth of the Digital Identity Management Market in the forthcoming period as stated in MarkNtel Advisors’ research report “Global Digital Identity Management Market Analysis, 2020”. 

According to MarkNtel Advisors’, the key players with a considerable market share in the Global Digital Identity Management market are NEC Corporation, Samsung SDS, Thales Group, IDEMIA, Tessi Group, ForgeRock, Jumio, Refinitiv, Duo Security (Cisco), Telus Communication Inc., AU10TIX Ltd., ImageWare Systems, Inc., Víntegris S.L, Signicat AS, In.Te.S.A. S.p.A. (IBM Group) etc.

Market Segmentation:

1. By Components (Solution [Biometrics {Fingerprint & Palmprint Recognition, Iris Recognition, Face Recognition, Voice Recognition, Others}, Non-Biometrics], Security Services)
2. By Application (Physical Access, Record Keeping, Online Authentication (Single-Factor Authentication, Multi-Factor Authentication), Digital Signature)
3. By Deployment (Cloud, On-Premises)
4. By Organization Size (Small, Medium, Large)
5. By End-User (E-Commerce and Retail, IT & Telecom, Healthcare, BFSI, Government & Transportation, Energy & Utilities, Others)
6. By Region (North America, South America, Europe, Asia-Pacific, Middle East & Africa)
7. By Country (US, Canada, Mexico, Brazil, UK, Germany, France, GCC, South Africa, China, Japan, India),
8. By Company (NEC Corporation, Samsung SDS, Thales Group, IDEMIA, Tessi Group, ForgeRock, Jumio, Refinitiv, Duo Security (Cisco), Telus Communication Inc., AU10TIX Ltd., ImageWare Systems, Inc., Víntegris S.L, Signicat AS, In.Te.S.A. S.p.A. (IBM Group) etc.)

Key questions answered in the study:

1. What are the current and future trends of the Digital Identity Management industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Digital Identity Management industry?
5. What is the customer orientation, purchase behavior, and expectations from the Digital Identity Management firms across various regions?