In today’s increasingly digital world, the importance of secure and reliable digital identities is growing as more services and transactions move online, creating a greater need for interoperable digital identities. As predicted, reusable identity technologies have emerged as a potential solution, providing opportunities for trust frameworks that enable this interoperability across platforms and different use cases.
However, despite the growth potential, low adoption rates, and limited support from relying parties, the reusable identity market faces some challenges.
According to our revised market estimation, the reusable identity market is expected to grow from $53.0B in 2023 to $328.4B in 2027, with significant opportunities for businesses in the digital identity landscape. The deployment of reusable identity is currently being led by the public sector, with opportunities for the private sector to provide underlying technology through public-private partnerships.
In exploring the potential of the reusable identity market, we examine recent advancements in the US and EU, global regulatory changes, the emergence of big tech players, and the opportunities and obstacles ahead. Additionally, we analyze the benefits of adopting reusable identity technologies for businesses and consumers while considering the challenges that must be addressed before realizing the full potential of reusable identity...Continue reading
