That’s growth up from $1.3 billion in 2020
A new survey by Juniper Research found that mobile operators’ digital identity revenue will reach $8.1 billion in 2025.
Research has shown that as the identity space evolves, mobile operators will play an increasingly significant role in providing digital identity verification and universal sign-on based on the subscriber’s identity. This is primarily important in emerging markets where banking penetration is lower.
The report indicated that these facilities will become an important part of emerging identity networks, with mobile operators playing a role as identity guarantor.
According to the study, verification requires a further implementation to protect digital identity. It’s projected at over 5.2 billion in 2025, to provide a secure digital identity environment by authorizing the use of identity information through digital adaptation. This secure verification will be critical to ensuring the availability of identities in high-trust environments.
The study also found that the growth of open APIs is driving the digital identity market. It is providing interconnected information and permitting access to different systems. Thus, identity providers have more data than ever before, but they have problems ensuring that all data is properly organized and that the transaction is properly authorized or rejected.
We’ve reported that ten Spanish companies collaborate to design an automated digital identity system with the help of blockchain technology. It will assist the individual users in filling up forms automatically and avail of many other similar services.