BASINGSTOKE, England, Jan 31 (Bernama-BUSINESS WIRE) — A new study from Juniper Research has found that revenue for digital identity vendors will exceed $53 billion globally in 2026; doubling from $26 billion in 2021. Digital identity revenue includes third-party and civic identity apps, centralised identity schemes, and digital identity verification. In addition, the research predicts that the increased demand for digital onboarding frameworks in the face of the ongoing pandemic will accelerate the uptake of digital identity services.
The research also identified verified digital identity, where identities are confirmed as genuine using verifiable credentials, as being vital for improving fraud mitigation. This represents the next evolutionary step for digital identity; moving from establishing infrastructure to utilising and verifying identity in practical applications. To facilitate this, the report predicts increasing data partnerships between vendors to provide comprehensive, data diverse identity systems.