Digital Identity Market Size

Digital Identity Market size was valued at USD 40.76 billion in 2024 and is expected to reach USD 395.45 billion by 2037, registering around 19.1% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of digital identity is assessed at USD 46.99 billion. The major factor in encouraging the market revenue is the rising adoption of smartphones. For instance, currently, about 5 billion individuals are using smartphones in the world. Hence, the market is also anticipated to rise since it has eliminated the necessity to carry physical documents including passports, credit cards, and more.

Additionally, the growing prevalence of cyber-attacks is also estimated to drive the demand for digital identity. This is because, digital identity, allows users to have complete control of their data. This indicates they are eligible to choose information the prefer to share and to whom, reducing. Hence, this is expected to reduce the risk of identity theft and data breaches. As a result, the digital identity market is set to have significant growth over the coming years.