Mobile Identity Market

The global market value of the mobile identity market was valued at USD 3.4 billion in 2024 and is projected to grow at a CAGR of 27.4% during the forecast period. Mobile identity refers to the unique digital identification of mobile devices or the user associated with them. Increasing demand to enhance online security is driving growth in the market.

Mobile identity helps prevent fraudulent activities by identifying user identities and transactions. Increasing demand for mobile identity in e-commerce and banking is fueling growth in the market. Mobile identity is used as a second factor in a two-factor authentication scheme.

Growth Drivers

The increasing use of smartphones and mobile internet globally is driving the demand in the market significantly. The expansion of digital services across banking, healthcare, government, and e-commerce increases the need for mobile identity verification. An increasing number of cases of cyber fraud and a surge in identity theft necessitate secure mobile authentication and identity management tools. Strong consumer demand for secure and seamless digital interactions.

Government-led digital identity programs (India’s Aadhar, EU Digital Identity Wallet) are boosting the adoption. Increasing demand for the fintech sector is a major adopter of mobile identity solutions. Emerging trends in decentralized identity offer users control over their data, driving innovation in the mobile identity space.

The growth of remote work, online education, and telehealth is increasing the demand for remote identity verification and onboarding.

Segmentation

Mobile Identity Market by Solution

·         Software

·         Services

o   Professional Services

o   Managed Services

Mobile Identity Market by Professional Service

·         Consulting

·         Integration

·         Support and Maintenance

Mobile Identity Market by Deployment

·         Cloud-based

·         On-premises

Mobile Identity Market by Enterprise Size

·         Small and Medium Enterprise

·         Large Enterprise

Mobile Identity Market by End User

·         BFSI

·         IT and Telecom

·         Retail

·         Healthcare

·         Transportation and Logistics

·         Manufacturing

·         Government

·         Others

By Region

·         Asia Pacific

·         North America

·         Middle East and Africa

·         Europe

·         Latin America

Mobile Identity Market by Solution

Based on the solution, the mobile identity market is segmented into software and services. The software segment is the leading one in the mobile identity market due to easy integration into existing mobile apps and banking systems. Many software offerings follow SaaS models, which create steady revenue streams and drive long-term customer relationships. The rise of AI, ML, and blockchain in identity management is primarily driven by software innovations, making this segment more dynamic and attractive. The service segment is also growing rapidly, especially in sectors like government, telecom, and finance.

Mobile Identity Market by End-User Segmentation

Based on the end user, the mobile identity market is segmented into BFSI, IT and telecom, retail, healthcare, transport and logistics, manufacturing, government, and others. The leading segment in the mobile identity market is BFSI (banking, financial services, and insurance). BFSI handles sensitive financial data and transactions, making robust identity verification and fraud prevention critical.

Banks try to provide security with convenience, and in the banking sector, mobile identity verification is crucial for seamless and secure user experiences. Sectors like government and healthcare are also witnessing significant growth during the forecast period, especially for e-governance and telemedicine, but BFSI remains the top segment in terms of market share.

The healthcare segment also requires mobile identification in policies implemented by emerging economies like Ayushman Yojna in India. A surge in telehealth services requires secure and seamless patient authentication. Mobile Identity ensures secure access to electronic health records, reducing identity theft and unauthorized access. Health professionals and patients increasingly access systems remotely, making strong mobile identity solutions critical. COVID-19 accelerated digital transformation in healthcare, creating long-term demand for mobile-based identity solutions.

Governments are rolling out digital identity initiatives (India’s Aadhar, Estonia’s e-Residency). Identity verification is vital for law enforcement, border control, and national security systems. Mobile identity helps streamline access to social benefits, unemployment services, and public healthcare, ensuring only eligible citizens get support. While BFSI leads in adoption, the healthcare and government sectors are growing rapidly due to digitization and security concerns.

Regional Outlook

Based on the regions, the mobile identity market is analyzed into Asia-Pacific, North America, Latin America, the Middle East and Africa, and Europe. North America is the leading market due to high smartphone penetration and enabling wide usage of mobile identity solutions across sectors like banking, healthcare, and government. The region has benefitted from advanced digital infrastructure, including high-speed internet, cloud adoption, and integrated platforms, supporting seamless mobile identity verification and management.

Governments and regulatory bodies in Canada and the U.S. are implementing stringent know-your-customer and anti-fraud regulations, encouraging the adoption of mobile identity technologies for secure digital interactions. These threats drive the adoption of robust MIM solutions to protect sensitive information and prevent unauthorized access. Advanced MIM systems with multi-factor authentication (MFA) and biometric verification help mitigate these risks.

The mobile identity management (MIM) market in Europe is growing significantly at a CAGR of 27.8% from 2024 to 2030. The growing adoption of cloud computing in Europe provides a scalable and flexible platform for deploying MIM solutions. Cloud-based MIM solutions offer cost-effective and easily deployable options, particularly attractive to small and medium-sized enterprises (SMEs) seeking to enhance their security infrastructure without significant capital investment.

The UK mobile identity management (MIM) market is growing significantly at a CAGR of 24.8% from 2024 to 2030. Both the public and private sectors are investing heavily in cybersecurity infrastructure. Government initiatives and funding programs aimed at enhancing national cybersecurity capabilities include a focus on identity management solutions, providing a significant boost to the MIM market.

The Asia Pacific mobile identity management (MIM) market is anticipated to grow as the fastest-developing regional market at a CAGR of 29.1%. The future of MIM solutions in the Asia Pacific (APAC) region is projected to witness significant growth as more organizations adopt mobile technologies and extend their digital operations. The growing popularity of remote work, as well as the use of cloud computing, is projected to drive demand for MIM solutions in the region.

Key Players

·         SOTI

·         AppTec360

·         Baramundi

·         Broadcom, Inc.

·         Oracle

·         Okta

·         Google

·         IBM

·         Ivanti

·         Kaspersky Labs

·         ManageEngine

·         Micro Focus

·         Microsoft Corporation

·         SAP SE

·         VMware

·         Other Players