Digital Trust Market
Digital Trust Market Size, Share & Trends Analysis Report by Deployment Mode (Cloud-Based and On-Premises), by Solutions (Identity and Access Management, Data Privacy and Protection, Risk and Compliance Management, and Fraud Detection and Prevention), and by End-User Industry (BFSI, Healthcare, Retail and E-Commerce, Government and Defense, Telecom and IT, Energy and Utilities, Manufacturing, and Others) Forecast Period (2024-2031)
Digital trust market is anticipated to grow at a significant CAGR of 14.4% during the forecast period (2024-2031). Digital trust refers to the confidence and reliability established between individuals, organizations, and entities in the digital realm. It comprises cybersecurity, data protection, privacy, and identity management to address the growing demand for trust in the digital realm.
Market Dynamics
The Increasing Adoption of Zero Trust Solutions by Enterprises is Expected to Drive Market Growth
Zero trust security demands verifying every access request, with continuous verification of digital identities through authentication methods such as public key infrastructure (PKI), single sign-on (SSO), multi-factor authentication (MFA), and others. With data breach incidents emerging, zero trust solutions effectively mitigate security risks. In January 2022, the US federal government introduced direct orders for implementing zero trust approaches. This memorandum outlines a Federal zero trust architecture (ZTA) strategy, mandating agencies to meet cyber security standards by the end of Fiscal Year (FY) 2024 to strengthen Government defenses against sophisticated threats targeting Federal technology infrastructure.
The implementation of a zero trust system is expected to enhance digital trust security capabilities by providing centralized control and visibility. Consequently, these solutions together are projected to strengthen the connections between users and devices with confidence. Various technology companies are collaborating to enhance their product offerings through strategic partnerships. For instance, in January 2022, DigiCert collaborated with the National Institute of Standards and Technology (NIST) on a Zero-Trust consortium to produce an example of a Zero-Trust architecture that uses modern best practices.
Market Segmentation
Our in-depth analysis of the global digital trust market includes the following segments by deployment mode, solutions, and end-user industry:
- Based on deployment mode, the market is bifurcated into cloud-based and on-premises.
- Based on solutions, the market is sub-segmented into identity and access management, data privacy and protection, risk and compliance management, and fraud detection and prevention.
- Based on end-user industry, the market is segmented into BFSI, healthcare, retail and e-commerce, government and defense, telecom and it, energy and utilities, manufacturing, and others. Others include education and transportation.
Cloud-Based is Anticipated to Grow During the Forecast Period
Based on the deployment mode, the global digital trust market is sub-segmented into software and services. Among these, the cloud-based sub-segment is expected to grow over the forecast period. The primary factor supporting the segment's growth includes the increased adoption of cloud services, cyber security concerns, and the demand for business continuity and resilience, growing importance of data privacy, and integration of AI and ML technologies.
BFSI Sub-segment to Hold a Majority Market Share in the Digital Trust Market
By end-user industry, the BFSI segment dominates the market share owing to facing significant risks such as fraud, cyber-attacks, and data breaches. Digital trust solutions, offering advanced capabilities such as fraud detection and cyber security, help mitigate these risks and safeguard sensitive information. This growth is propelled by the shift towards digital transformation, increasing the demand for reliable digital trust solutions amidst escalating digitalization. As a result, major players collaborate with startups to tackle societal issues, contributing to innovative solutions in fraud detection, risk management, and customer experience enhancement, fueling the digital trust market. In October 2022, Fujitsu launched its Fujitsu Computing as a Service portfolio in Japan, aiming for global expansion in fiscal 2023. Simultaneously, Fujitsu initiated the Fujitsu Accelerator Program for CaaS, a global partner initiative addressing societal issues through collaborative solution creation with startups on the CaaS platform.
Regional Outlook
The global digital trust market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America).
Key Initiatives Promoting Digital Trust in Europe
- Europe's innovative tech firms and research institutions develop advanced cyber security technologies, driving adoption of cutting-edge digital trust tools.
- Europe implemented robust regulatory frameworks such as the General Data Protection Regulation (GDPR) to protect individuals' privacy rights and ensure secure data handling practices.
- European governments promote digital trust through initiatives such as the EU's Digital Single Market strategy, promoting a seamless and secure digital environment continent-wide.
Global Digital Trust Market Growth by Region 2024-2031
North America Dominates the Digital Trust Market
Among all regions, North America dominates the digital trust market. With the rising digital transformation and internet penetration, the region has witnessed a surge in cyber-attacks, anticipated to propel market growth. According to CNB News, US hospitals experienced 299 ransomware attacks in 2023. Consequently, the increase in such data breach incidents has driven the demand for solutions. The diverse industries in the region, including finance, healthcare, technology, and manufacturing, have a high demand for digital trust solutions to safeguard sensitive data, mitigate cyber threats, and ensure regulatory compliance.
Market Players Outlook
*Note: Major Players Sorted in No Particular Order.
The major companies serving the global digital trust market include Amazon Web Services, Inc., Entrust Corp., IBM Corp., Microsoft Corp., and Oracle Corp. among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market. For instance, in May 2023, Garrigues acquired a 51.0% stake in EAD Trust, a digital trust Services Company registered as a Qualified Trust Service Provider. This attempt positioned Garrigues in the digital trust market, aligning with the upcoming eIDAS2 regulation to update trust and digital identity services in the European Union for a more connected and digitized society.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global digital trust market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Amazon Web Services, Inc.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Entrust Corp.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. IBM Corp.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Microsoft Corp.
3.5.1. Overview
3.5.2. Financial Analysis
3.5.3. SWOT Analysis
3.5.4. Recent Developments
3.6. Oracle Corp.
3.6.1. Overview
3.6.2. Financial Analysis
3.6.3. SWOT Analysis
3.6.4. Recent Developments
3.7. Key Strategy Analysis
4. Market Segmentation
4.1. Global Digital Trust Market by Deployment Mode
4.1.1. Cloud-Based
4.1.2. On-Premises
4.2. Global Digital Trust Market by Solution
4.2.1. Identity and Access Management
4.2.2. Data Privacy and Protection
4.2.3. Risk and Compliance Management
4.2.4. Fraud Detection and Prevention
4.3. Global Digital Trust Market by End-User Industry
4.3.1. BFSI
4.3.2. Healthcare
4.3.3. Retail and E-Commerce
4.3.4. Government and Defense
4.3.5. Telecom and IT
4.3.6. Energy and Utilities
4.3.7. Manufacturing
4.3.8. Others (Education, Transportation)
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Akamai Technologies, Inc.
6.2. Barracuda Networks, Inc.
6.3. Check Point Software Technologies Ltd.
6.4. Cisco Systems, Inc.
6.5. CrowdStrike Holdings, Inc.
6.6. DigiCert, Inc.
6.7. F5 Inc.
6.8. ForgeRock, Inc.
6.9. Fortinet, Inc.
6.10. McAfee Corp.,
6.11. Okta, Inc.
6.12. Palo Alto Networks, Inc.
6.13. Proofpoint Inc.
6.14. Rapid7, Inc.
6.15. RSA Security (Dell Technologies)
6.16. SentinelOne, Inc.
6.17. Thales Group
6.18. Trend Micro Inc.
6.19. Zscaler, Inc.
1. GLOBAL DIGITAL TRUST MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODE, 2023-2031 ($ MILLION)
2. GLOBAL CLOUD-BASED DIGITAL TRUST MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
3. GLOBAL ON-PREMISES BASED DIGITAL TRUST MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
4. GLOBAL DIGITAL TRUST MARKET RESEARCH AND ANALYSIS BY SOLUTION, 2023-2031 ($ MILLION)
5. GLOBAL DIGITAL TRUST IN IDENTITY AND ACCESS MANAGEMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
6. GLOBAL DIGITAL TRUST IN DATA PRIVACY AND PROTECTION MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
7. GLOBAL DIGITAL TRUST IN RISK AND COMPLIANCE MANAGEMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
8. GLOBAL DIGITAL TRUST IN FRAUD DETECTION AND PREVENTION MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
9. GLOBAL DIGITAL TRUST MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2023-2031 ($ MILLION)
10. GLOBAL DIGITAL TRUST FOR BFSI MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
11. GLOBAL DIGITAL TRUST FOR HEALTHCARE MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
12. GLOBAL DIGITAL TRUST FOR RETAIL AND E-COMMERCE MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
13. GLOBAL DIGITAL TRUST FOR GOVERNMENT AND DEFENSE MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
14. GLOBAL DIGITAL TRUST FOR TELECOM AND IT MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
15. GLOBAL DIGITAL TRUST FOR ENERGY AND UTILITIES MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
16. GLOBAL DIGITAL TRUST FOR MANUFACTURING MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
17. GLOBAL DIGITAL TRUST FOR OTHER END-USER INDUSTRIES MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
18. GLOBAL DIGITAL TRUST MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
19. NORTH AMERICAN DIGITAL TRUST MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
20. NORTH AMERICAN DIGITAL TRUST MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODE, 2023-2031 ($ MILLION)
21. NORTH AMERICAN DIGITAL TRUST MARKET RESEARCH AND ANALYSIS BY SOLUTION, 2023-2031 ($ MILLION)
22. NORTH AMERICAN DIGITAL TRUST MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2023-2031 ($ MILLION)
23. EUROPEAN DIGITAL TRUST MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
24. EUROPEAN DIGITAL TRUST MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODE, 2023-2031 ($ MILLION)
25. EUROPEAN DIGITAL TRUST MARKET RESEARCH AND ANALYSIS BY SOLUTION, 2023-2031 ($ MILLION)
26. EUROPEAN DIGITAL TRUST MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2023-2031 ($ MILLION)
27. ASIA-PACIFIC DIGITAL TRUST MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
28. ASIA-PACIFIC DIGITAL TRUST MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODE, 2023-2031 ($ MILLION)
29. ASIA-PACIFIC DIGITAL TRUST MARKET RESEARCH AND ANALYSIS BY SOLUTION, 2023-2031 ($ MILLION)
30. ASIA-PACIFIC DIGITAL TRUST MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2023-2031 ($ MILLION)
31. REST OF THE WORLD DIGITAL TRUST MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
32. REST OF THE WORLD DIGITAL TRUST MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODE, 2023-2031 ($ MILLION)
33. REST OF THE WORLD DIGITAL TRUST MARKET RESEARCH AND ANALYSIS BY SOLUTION, 2023-2031 ($ MILLION)
34. REST OF THE WORLD DIGITAL TRUST MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2023-2031 ($ MILLION)
1. GLOBAL DIGITAL TRUST MARKET SHARE BY DEPLOYMENT MODE, 2023 VS 2031 (%)
2. GLOBAL CLOUD-BASED DIGITAL TRUST MARKET SHARE BY REGION, 2023 VS 2031 (%)
3. GLOBAL ON-PREMISES-BASED DIGITAL TRUST MARKET SHARE BY REGION, 2023 VS 2031 (%)
4. GLOBAL DIGITAL TRUST MARKET SHARE BY SOLUTION, 2023 VS 2031 (%)
5. GLOBAL DIGITAL TRUST IN IDENTITY AND ACCESS MANAGEMENT MARKET SHARE BY REGION, 2023 VS 2031 (%)
6. GLOBAL DIGITAL TRUST IN DATA PRIVACY AND PROTECTION MARKET SHARE BY REGION, 2023 VS 2031 (%)
7. GLOBAL DIGITAL TRUST IN RISK AND COMPLIANCE MANAGEMENT MARKET SHARE BY REGION, 2023 VS 2031 (%)
8. GLOBAL DIGITAL TRUST IN FRAUD DETECTION AND PREVENTION MARKET SHARE BY REGION, 2023 VS 2031 (%)
9. GLOBAL DIGITAL TRUST MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2023 VS 2031 (%)
10. GLOBAL DIGITAL TRUST FOR BFSI MARKET SHARE BY REGION, 2023 VS 2031 (%)
11. GLOBAL DIGITAL TRUST FOR HEALTHCARE MARKET SHARE BY REGION, 2023 VS 2031 (%)
12. GLOBAL DIGITAL TRUST FOR RETAIL AND E-COMMERCE MARKET SHARE BY REGION, 2023 VS 2031 (%)
13. GLOBAL DIGITAL TRUST FOR GOVERNMENT AND DEFENSE MARKET SHARE BY REGION, 2023 VS 2031 (%)
14. GLOBAL DIGITAL TRUST FOR TELECOM AND IT MARKET SHARE BY REGION, 2023 VS 2031 (%)
15. GLOBAL DIGITAL TRUST FOR ENERGY AND UTILITIES MARKET SHARE BY REGION, 2023 VS 2031 (%)
16. GLOBAL DIGITAL TRUST FOR MANUFACTURING MARKET SHARE BY REGION, 2023 VS 2031 (%)
17. GLOBAL DIGITAL TRUST FOR OTHER END-USER INDUSTRIES MARKET SHARE BY REGION, 2023 VS 2031 (%)
18. GLOBAL DIGITAL TRUST MARKET SHARE BY REGION, 2023 VS 2031 (%)
19. US DIGITAL TRUST MARKET SIZE, 2023-2031 ($ MILLION)
20. CANADA DIGITAL TRUST MARKET SIZE, 2023-2031 ($ MILLION)
21. UK DIGITAL TRUST MARKET SIZE, 2023-2031 ($ MILLION)
22. FRANCE DIGITAL TRUST MARKET SIZE, 2023-2031 ($ MILLION)
23. GERMANY DIGITAL TRUST MARKET SIZE, 2023-2031 ($ MILLION)
24. ITALY DIGITAL TRUST MARKET SIZE, 2023-2031 ($ MILLION)
25. SPAIN DIGITAL TRUST MARKET SIZE, 2023-2031 ($ MILLION)
26. REST OF EUROPE DIGITAL TRUST MARKET SIZE, 2023-2031 ($ MILLION)
27. INDIA DIGITAL TRUST MARKET SIZE, 2023-2031 ($ MILLION)
28. CHINA DIGITAL TRUST MARKET SIZE, 2023-2031 ($ MILLION)
29. JAPAN DIGITAL TRUST MARKET SIZE, 2023-2031 ($ MILLION)
30. SOUTH KOREA DIGITAL TRUST MARKET SIZE, 2023-2031 ($ MILLION)
31. REST OF ASIA-PACIFIC DIGITAL TRUST MARKET SIZE, 2023-2031 ($ MILLION)
32. LATIN AMERICA DIGITAL TRUST MARKET SIZE, 2023-2031 ($ MILLION)
33. THE MIDDLE EAST & AFRICA DIGITAL TRUST MARKET SIZE, 2023-2031 ($ MILLION)
