The digital identity market will grow from $51 billion in 2025 to $80 billion in 2030; representing a rapid growth rate of 56%, according to Juniper Research. \t\t<\/p>\n
The research highlights two main drivers of this growth: tightening regulations which increasingly require digital identities, and rapid technological advancements which bring mobile driving licences and digital travel credentials closer to early public use. \t\t\t <\/p>\n
\u201cThe EU Digital Identity Wallet (EUDI), which all Member States are expected to have in place by the end of 2026, will have a transformative effect on identity in the region; however, digital identity is already socially acceptable in mainland Europe. Adoption of the proposed UK scheme will require significant user benefits to overcome public scepticism. Focusing on self-sovereign principles, which give citizens control of their own data, will go a long way in improving support,\u201d explained Louis Atkin, Research Analyst at Juniper Research. \t\t\t <\/p>\n
Hybridisation of credentials to aid deployment
The research identified that issuing digital credentials alongside physical documents helps to drive adoption of digital identities. As digital identities are a new concept to many citizens, ensuring that the technology used is both accessible and something which citizens actively choose for themselves is key to their success. \t\t\t
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\u201cEUDI supports the adoption of digital identities, with standardisation of digital identity infrastructure massively improving the degree of interoperability of digital identities. However, to ensure sustainable growth, considering accessibility and providing explanations of how the systems work are vital for success,\u201d Atkin concluded. \t\t\t <\/p>\n
The new market research suite offers the most comprehensive assessment of the digital identity market to date; providing analysis and forecasts of over 30,000 datapoints, across 61 countries, over five years. It includes a \u2018Competitor Leaderboard\u2019 and examination of future market opportunities. Download a free sample. Juniper Research \t\t\t <\/p>\n
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