Juniper Research: Digital ID App Installs Will Reach 5.2 Billion Globally by 2029, Surpassing 60% of World Population

Standardization enabling a variety of verification use cases

BASINGSTOKE, England–(BUSINESS WIRE)–#digitalidentities– New research from Juniper Research, leading experts in financial technology and payments markets, shows that remote user onboarding will drive a 126% increase in digital identity app downloads globally. This will expand the market from 2.3 billion installed apps this year to 5.2 billion in 2029. This growth is largely driven by standardization such as the EU’s implementation of the eIDAS2 framework and the UK’s Digital Identity and Trust Framework; making it easier to create integrations between identity applications and third-party services.

Juniper Research defines digital identity as a digital representation of an entity, which may be one or more individual pieces of identification, an event, or a signal.

An excerpt from the new Global Digital Identity Market 2024-2029 report is now available for free download.

Digital identity-driven implementation is key to improving user experience

The report points out that using biometrics to verify a user against stored credentials is key to improving the user experience. This process is faster and more secure than verification methods such as passwords or one-time passcodes; encouraging the integration of digital identity applications with a more diverse set of services, such as e-government and financial services.

The report found that, given their typically poor user experience, eGovernment services will be strong early adopters of digital identity integration. Given how important access to government services is, this will translate into rapid consumer adoption.

Report author Michael Greenwood commented:Identity app providers must prioritize integration with government services to facilitate this high-value use case. Governments must redesign e-government services to fully leverage digital identity apps; improving user experience and catalyzing general adoption.”

About the research package

The new market research suite offers the most comprehensive assessment of the digital identity market to date; providing analysis and five-year forecasts for 20,000 data points and 60 countries. It includes a “Competitive Leaderboard” and analysis of current and future market opportunities.

See the Digital Identity Market Research: https://www.juniperresearch.com/research/fintech-payments/fraud-identity/digital-identity-research-report/

Download a free sample: https://www.juniperresearch.com/resources/whitepapers/whitepapersthe-anatomy-of-a-digital-id/

Juniper Research has been providing market analysis and advisory services to the global financial sector for twenty years, commissioned by many of the world’s leading banks, intermediaries and suppliers.

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