Digital Identity Market - Historic Data (2019-2024), Global Trends 2025, Growth Forecasts 2037
Digital Identity Market in 2025 is estimated at USD 47.12 billion. The global Market size was valued at around USD 40.76 billion in 2024 and is projected to grow at a CAGR of over 19.5%, reaching USD 413.06 billion revenue by 2037. Asia Pacific is forecast to collect USD 156.96 billion by 2037, fueled by rise of smart city initiatives and the increasing use of digital identity solutions in urban infrastructure.
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.
