Digital Identity Market Analysis

Deployment (Cloud, On-Premise)

The cloud segment in the digital identity market is estimated to gain the largest revenue share of 60% in the year 2037. The imperative for organizations to undergo digital transformation is a cornerstone in driving the growth of the cloud segment. Businesses across industries are leveraging cloud technologies to modernize their operations, enhance agility, and stay competitive in an ever-evolving digital landscape.

A survey revealed that 92% of executives considered their business model to be at risk if they did not achieve digital transformation at scale within the next three years. Additionally, the paradigm shift towards remote education has been a significant catalyst for cloud adoption. Cloud-based collaboration tools, communication platforms, and virtualization solutions have become essential in facilitating a seamless and productive remote education, transcending geographical barriers.

The exponential growth of data in the digital era necessitates scalable and flexible storage solutions. Cloud storage services provide organizations with the ability to efficiently manage and scale their data storage requirements without the need for significant upfront investments in physical infrastructure. Hence, with the growth in this segment, the market is also predicted to observe a surge.

End User (BFSI, Retail and eCommerce, Government, Healthcare, IT and ITeS)

The healthcare segment is expected to garner the highest share in the digital identity market at about 35% in the upcoming years. Regulatory initiatives and a push towards interoperability aim to create a seamless exchange of healthcare information among different systems. This enhances care coordination, reduces administrative burden, and fosters a more interconnected and patient-centric healthcare ecosystem.

Advancements in precision medicine leverage genetic information, biomarkers, and patient-specific data to tailor medical treatments. This approach allows for more targeted therapies, reducing adverse effects and improving treatment outcomes.

The proliferation of wearable health technologies, including fitness trackers and smartwatches, empowers individuals to actively monitor their health. These devices track vital signs, physical activity, and sleep patterns, enabling users to engage in preventive healthcare and providing valuable data for healthcare providers.

Our in-depth analysis of the global digital identity market includes the following segments: