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| Global Digital Trust Market Size |
Digital trust solutions aid in authenticating users and detecting fraudulent
activities in digital transactions. They provide multifactor authentication
mechanisms along with risk-based authentication. With the growing trend of
digital transactions and online commerce, there is an increasing need for
solutions that can authenticate users and protect systems from cyber threats.
The global
Digital Trust Market is estimated to be valued at US$ 308.34 Bn in 2023 and is
expected to exhibit a CAGR of 6.0% over
the forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market key trends:
One of the major trends fueling the growth of the digital trust market is the
increasing need for authentication. As online transactions are growing
exponentially, the risks of cybercrimes, data breaches, and identity thefts
have also increased. Hackers and cybercriminals continuously work on developing
sophisticated techniques to steal critical data. Thus, there is a need for
advanced authentication methods that can verify users and detect malicious
activities. Digital trust solutions provide identity proofing, multifactor
authentication and continuous monitoring to prevent unauthorized access and
secure digital transactions. The implementation of digital identity solutions
is expected to accelerate in the coming years with the increasing
authentication needs across various online platforms.
Segment Analysis
The global digital trust market is segmented by verification type and
organization size. The digital signature sub-segment within the verification
type segment dominated the market in 2023 as it provides document security and
authentication. The large enterprises sub-segment within the organization size
segment accounted for the largest revenue share in 2023 due to increased
investments in digital trust services by large enterprises.
Key Takeaways
Global
Digital Trust Market Size is
expected to witness high growth. The global Digital Trust Market is estimated
to be valued at US$ 308.34 Bn in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period
2023 to 2030.
The Asia Pacific region is expected to grow at the fastest CAGR during the
forecast period owing to rising digitalization and increasing online
transactions in countries like China, India. North America dominated the market
in 2023 due to presence of key players and high adoption of digital trust
solutions across various industries in the US and Canada.
Key players related content comprises
Key players operating in the digital trust market are IdenTrust, SSL, Digicert,
Trustwave, Gemalto, Symantec,SSL, SecureTrust, Entrust Datacard, Sectigo
Limited, Equifax, Adobe, Rakuten, Meeco.
Key players related content
Key players operating in the digital trust market are focusing on new product
launches and strategic collaborations to gain competitive advantage in the
market. For instance, IdenTrust partnered with PayPal in 2023 to provide
authentication and digital signature for merchant and customer transactions.
Digicert collaborated with Microsoft in 2023 to provide TLS/SSL certificates
for Microsoft Azure applications.
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