US Digital Identity Solutions Market Forecast 2024-2030: Growth, Demand, Key Drivers

The US
Digital Identity Solutions Market size is projected to grow from USD 11.89
billion in 2024 to USD 34.03 billion by 2030 at a Compound Annual Growth Rate
(CAGR) of 19.2% during the forecast period.

An expansion in US internet usage has led to the increasing
demands for protected digital identity platforms because businesses together
with end-users required protected online transactions along with secure
credentials. The rise of privacy issues stimulates government-backed smart
infrastructure and smart cities initiatives which drive market expansion due to
digital identity implementation. Organizations now need to implement thorough
identity verification systems due to the California Consumer Privacy Act (CCPA)
which ensures consumer data control. Through federal financial support of
digital identity programs the market experiences accelerated innovation while
ensuring easy and secure authentication processes in multiple sectors thus
developing market strength.

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The solutions segment is expected to account for the largest
market share by offering segment in the US digital identity solutions market
during the forecast period.

The solutions segment leads as the largest market segment in
US digital identity solutions because industries are increasingly demanding
secure authentication together with identity verification. Advanced identity
management solutions become the choice of organizations because they fight
against increasing cyber threats alongside identity fraud and data breaches.
The increase in digital payments together with remote work requirements and
online service delivery creates amplified market demand for biometric authentication
technologies and multi-factor authentication (MFA) and identity and access
management (IAM) systems. The California Consumer Privacy Act (CCPA) together
with other stringent regulations pushes business entities to enhance their
identity security methods thus increasing market-wide adoption. The deployment
of these solutions increases because government programs dedicate effort toward
modernizing digital identity systems from smart infrastructure to secure
credentialing. Digital identity solutions maintain their position as a
fundamental market investment because both private sector businesses and public
sector entities focus on enhanced cybersecurity along with easy user
experiences.

The managed services segment is expected to grow at the highest
CAGR by services segment in the US digital identity solutions market during the
forecast period.

Managed services represent the segment with the fastest
growth rate in the US digital identity solutions market because businesses need
to protect identities continuously against evolving cybersecurity threats that
became increasingly complex. The identification of managed service providers
(MSPs) allows organizations to free their in-house IT staff from managing
identity lifecycle processes while receiving assistance with authentication and
monitoring compliance requirements. Organizations now require outsourced
identity management services because of their need to shift to cloud-based
identity solutions alongside increasing regulatory requirements like CCPA.
Businesses which implement digital transformation require knowledgeable support
to achieve smooth implementation as well as instant threat identification and
immediate security upgrades. Managed services provide cost-effective solutions
and adjustable features which enable small to medium businesses without
security personnel to benefit from these services. The US market has adopted
managed identity services as a vital digital security component because
organizations focus on data privacy along with preventing fraud and meeting
regulatory requirements.

The biometric segment is expected to account for the largest
market share by identity type segment in the US digital identity solutions
market during the forecast period.

The biometric segment is expected to hold the largest market
share within the identity type segment due to its superior security, accuracy,
and convenience. Manufacturers have rapidly integrated biometric authentication
methods including fingerprint scanning, facial recognition, and iris
recognition for different industries such as banking, healthcare, and
government to stop identity fraud and unauthorized access. Businesses and
government agencies use biometric authentication to improve security while maintaining
simple processes for users due to escalating data security fears about identity
theft cases. Moving forward regulatory actions that endorse digital identities
have fostered the rapid growth of biometric technology adoption. Mobile devices
and online transactions as well as access control systems have expanded their
adoption of biometric authentication technologies because of increasing demand.
Biometrics are preferred as identity verification method since organizations
have moved to passwordless authentication to fight cyber risks.

Top Companies in the market

HID Global (US), CrowdStrike (US), DXC Technology (US), IBM
(US), CyberArk (US), SailPoint Technologies (US), Ping Identity(US), ACI
Worldwide (US), Jumio(US), OneSpan (US), Duo Security (US), Imprivata (US),
Incode Technologies (US), and Persona (US) are the key players and other
players in the US Digital Identity Solutions market.

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