UK based research company Juniper Research conducted a research on Digital Identity: Technology Evolution, Regulatory Analysis & Forecasts 2019-2024 and concluded that the number of people using government-issued digital identity credentials will grow by over 150% from an expected 1.7 billion in 2019 to over 5 billion in 2024. The research also highlighted the rising growth of Asia and Africa in the digital registration and management segment.

The report, Digital Identity: Technology Evolution, Regulatory Analysis & Forecasts 2019-2024, also highlighted Estonia’s rapid growth in digital identity development. Juniper Research in its detailed research has predicted that markets across Europe and North America will be led by the financial services sector and digital driving licenses, rather than formal government identification. Mobile single sign-up is said to be a large part of digital identity platforms with over 1 billion users by 2023; generating over $5 billion in revenues that year.

James Moar, a Lead Analyst at Juniper Research, commented on the research, “We expect strong growth in blockchain-based digital identity solutions over the next five years, However, with simpler apps being quick to develop and almost indistinguishable from a user perspective, companies and operators will need to be the ones to drive the use of self-sovereign identity forward.”

Juniper Research is a UK based research firm that provides research and analytical services to the global hi-tech communications sector consultancy, analyst reports and industry commentary.

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by Megha Bhattacharya
Market Analyst at IBS Intelligence
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