Digital Identity Industry - Regional Synopsis
APAC Market Forecast
The digital identity market in the Asia Pacific region is projected to hold the largest revenue share of 38% by the end of 2037. The rise of smart city initiatives in the APAC region is driving the integration of digital identity solutions into urban infrastructure. From transportation systems to public services, smart city projects leverage digital identity technologies to enhance efficiency, security, and citizen experiences.
Moreover, governments in the APAC region are implementing and enforcing regulations to ensure the responsible and secure handling of personal data, fostering trust among users which is further anticipated to drive growth of digital identity market.
Also, the growth in number of mobile subscribers in the APAC region is a key driver for mobile-first digital identity solutions. In 2021, the number of mobile subscribers in the Asia Pacific region surpassed 3.8 billion, highlighting the vast mobile user base and the potential for mobile-centric digital identity solutions.
North American Market Statistics
The digital identity market in the North American region is projected to have notable growth between the years 2024 and 2037. This growth of the sector in this region is set to be encouraged by the surging use of digital identity in the BFSI industry.
Moreover, this region also has the presence of major market players in the field of digital identity who are focusing on advancing their software at a faster pace to compete in the market. As a result, this factor is additionally predicted to boost the digital identity market in this region.
