SecurityWorldMarket

17/11/2021

Innovative digital ID solutions set to transform identity security

San Antonio, Tx

Frost & Sullivan’s recent analysis on digital identity solutions finds that progressive advancements in blockchain technology, artificial intelligence and biometric systems have led to the creation of unique and sophisticated digital ID global solutions. Driven by identity theft, security threats and digital transformation initiatives by governments and private sectors, areas that will greatly benefit include e-banking, e-government, digital transactions, mobile transactions, behavioural biometrics, and airport security.

“National identification programmes are gaining prominence as countries are striving to establish a unified database of robust unique identity documents of citizens for ease of governance,” said Aravind Srimoolanathan, Senior Research Analyst, ICT at Frost & Sullivan. “By 2030, advancements in blockchain technology will lead to its integration with biometrics, resulting in the establishment of a single-token digital identity for individuals.”

Srimoolanathan added: “In addition, as hackers adopt refined technologies to disrupt and bypass security systems, as a result of their flexibility and high security, multi-modal biometrics-powered identity systems are expected to become crucial means to enhance security across industries.”

The pioneering and cutting-edge technologies that the researchers expect to change the digital identity market will enable several growth opportunities, including leveraging advanced cyber security for digital identity. The analysts stress that cyber security providers should offer first-class security solutions to help end-users effectively manage digital identity databases.

The research also found that partnering with blockchain technology companies can enhance digital identity solution offerings as well as overall security and efficiency, whilst portable digital identity verification solution providers should be encouraged to include multi-factor authentication in their offerings to ensure security while allowing for a seamless user experience.

Global Digital Identity Solutions Growth Opportunities is the latest addition to Frost & Sullivan’s Security research and analyses designed to help organisations identify a continuous flow of growth opportunities to succeed in an unpredictable future.


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