The growing security concerns related to individual identity is assisting growth in the digital identity solutions market. BYOD trend is increasing among populace across the world. This growth is boosting demand in the digital identity solutions market in the upcoming years.
The digital identity solutions market is bifurcated on the basis of geography, organization size, verticals, deployment type, authentication type, solution type, and component. Biometrics and non-biometrics are the two types of solutions provided by the digital identity solutions market. These incorporate comprehensive data of individuals for future references.
Further single-factor authentication and multi-factor authentication are the two divisions of digital identity solutions market on the basis of authentication. Between these two, the multi-factor authentication is dominating market share. It provides more security to the data of individuals compared to other solutions.
On-premise and cloud are the further two division in the digital identity solutions market on the basis of deployment. As per the requirements from the industries, the suitable services may be adopted.
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Digital Identity Solutions Market – Diverse Applications
The digital identity solutions market finds application in discrete industries. Some of the prominent sectors are retail and e-commerce, BFSI, government and defence, healthcare, IT and ITes, telecommunications, energy and utilities and others.
Further the research report of digital identity solutions market has incorporated comprehensive picture of the industry. Different growth parameters such as security concerns, fear of data thrift, misuse of stolen data, threat to individual life, and others are also boosting growth in the digital identity solutions market.
Different innovations, novel product launching, collaborations, mergers and acquisition are also contributing to the comprehensive growth in the digital identity solutions market. The organizations who are serving in different regions are making collaborations with each other. The motive of these initiatives is to get an upper hand in the comprehensive growth in the digital identity solutions market. Furthermore, the players are also investing a handsome amount on their geographical presence in order to expand their brand presence and boost revenue in the digital identity solutions market.
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