Canada Digital Identity Management Solution Market Analysis Report 2022: Metaverse and Web 3.0 will Encourage the Adoption of Digital Identity Management Solution Platforms – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Canada Digital Identity Management Solution Market Forecast to 2028 – COVID-19 Impact and Country Analysis By Component, Deployment, Enterprise Size, and Industry Vertical” report has been added to ResearchAndMarkets.com’s providing.

The Canada digital identification administration answer market dimension is anticipated to develop from US$ 990.0 million in 2021 to US$ 2,272.6 million by 2028; the Canada digital identification administration answer market dimension is estimated to develop at a CAGR of 12.9% from 2022 to 2028.

A number of industries throughout Canada are adopting digital identification administration answer attributable to its quite a few advantages, together with brief course of time, excessive degree of accuracy, upgraded safety, decrease operational prices, and higher buyer expertise.

Previously, identification and authentication had been utilized in a number of trade verticals akin to BFSI and authorities & protection. With elevated technological developments and digitalization throughout a number of industries, the identification and authentication processes had been carried out in lots of industries, together with retail & e-commerce, healthcare, and telecommunication.

A number of industries throughout Canada are adopting digital identification administration answer attributable to its quite a few advantages, together with brief course of time, excessive degree of accuracy, upgraded safety, decrease operational prices, and higher buyer expertise. As an illustration, in March 2022, IDENTOS (a digital identification and entry management expertise firm) used the work of Kantara Initiative’s UMA 2.0 specification as the main expertise within the Ontario trusted account.

The just lately launched digital identification service supplies sufferers a handy, dependable, accessible, and safe method to entry well being data and companies on-line. Kantara and IDENTOS are dedicated to placing sufferers accountable for their well being information. Equally, in June 2021, Prodigy Ventures Inc. introduced an settlement between IDVerifact Inc. – its subsidiary, and EnStream (an organization with direct entry to cell telecom data in Canada), masking over ~90% of Canadians on all main cell networks.

As a part of the settlement, IDVerifact integrates EnStream’s identification verification companies into the IDVerifact platform, offering the inputs that allow cell phone house owners to permit verification of their identities, cell numbers, and units throughout digital transactions.

In 2021-2022, with the widespread implementation of bring-your-own-device (BYOD), the rising work-from-home (WFH) pattern, and the rising Web penetration throughout Canada, people are progressively inclined towards using digital applied sciences, akin to cloud answer, thereby driving the necessity for cybersecurity measures for cover towards cyberattacks. Thus, the uptake of cloud-based digital identification administration answer in a number of companies throughout Canada has elevated.

The Canada digital identification administration answer market grew from US$ 829.5 million in 2019 to US$ 899.7 million in 2020. Moreover, in 2021, the market dimension accounted for US$ 990.0 million. Subsequently, the general influence of the COVID-19 pandemic on the Canada digital identification administration answer market development was constructive in 2020.

Just a few main gamers working within the Canada digital identification administration answer market are Avanade Inc.; Akamai Applied sciences, Inc.; Daon; DXC Expertise; ForgeRock; Jumio; NEC Company; One Identity LLC; Telco Techniques; and TELUS.

Key Business Dynamics

Market Drivers

Surge in Identity and Authentication Frauds

Rising Integration of Biometric Expertise in Smartphones

Market Restraints

Availability of Open-Supply Digital Identity Management Platforms

Market Alternatives

Extensive Adoption of Authentication throughout A number of Business Verticals

Future Tendencies

Metaverse and Web 3.0 will Encourage the Adoption of Digital Identity Management Solution Platforms

Firm Profiles

OneLogin

Avanade Inc

Akamai Applied sciences

NEC Company

Daon, Inc.

DXC Expertise Firm

ForgeRock

Jumio Company

TelosID

TELUS

For extra details about this report go to https://www.researchandmarkets.com/r/1zboi7