Digital Credential Management Software Market Outlook 2024-2033: Trends and Projections

The digital credential management software global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Digital Credential Management Software Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size –
The digital credential management software market size has grown rapidly in recent years. It will grow from $2.03 billion in 2023 to $2.29 billion in 2024 at a compound annual growth rate (CAGR) of 12.8%. The growth in the historic period can be attributed to regulatory compliance requirements, cloud computing adoption, emergence of IoT devices, industry specific demand, rising concerns for data security.

The digital credential management software market size is expected to see rapid growth in the next few years. It will grow to $3.76 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%. The growth in the forecast period can be attributed to adoption of zero trust security model, decentralized identity management, mobile centric solutions, continued emphasis on regulatory compliance, privacy preserving technologies. Major trends in the forecast period include biometric authentication advancements, rise of risk based authentication, evolution of self-sovereign identity, focus on credential lifecycle management, enhanced user experience solutions.

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Scope Of Digital Credential Management Software Market
The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Digital Credential Management Software Market Overview

Market Drivers –
The growing adoption of cloud services is expected to propel the growth of the digital credential management software market going forward. Cloud services refer to a broad category of computing resources and applications delivered over the internet on a subscription basis. Cloud services are rising due to their ability to facilitate remote work, enable digital transformation, and support modern businesses’ scalability and agility needs. Cloud services are utilized in digital credential management software to provide secure and scalable storage, access, and management of digital identities and certificates across distributed environments. For instance, in February 2024, according to reports published by AAG IT, a UK-based IT services company, Infrastructure as a Service (IaaS) public cloud service revenue increased from $343 billion in 2021 to $415 billion in 2022. Therefore, the growing adoption of cloud services is driving the growth of the digital credential management software market.

Market Trends –
Major companies operating in the digital mobile radio market are developing multi-protocol mobile radios such as NX-1700(VHF) and 1800(UHF) mobile radios to connect and communicate across multiple radio systems and networks. The Kenwood NX-1700(VHF) and 1800(UHF) mobile radios are a new line of advanced two-way communication devices designed to operate in multiple modes, including Analog FM, NXDN conventional, NXDN Type-D trunking, and DMR Tier II conventional. For instance, in June 2022, JVCKenwood Corporation, a Japan-based electronics company, launched Kenwood NX-1700 (VHF) and NX-1800 (UHF) mobile radios. These radios have a range of operating modes, making them suitable for various communication demands. The radios come with custom emergency profiles, allowing users to activate emergency functions swiftly and ensuring rapid response to critical situations. The Kenwood NX-1700(VHF) and 1800(UHF) mobile radios provide a comprehensive digital mobile radio solution that caters to the diverse communication needs of users across various industries and operational scenarios.

The digital credential management software market covered in this report is segmented –

1) By Component: Software, Service
2) By Deployment Mode: Cloud Based, On Premises
3) By Application: Large Enterprises, Small And Medium Sized Enterprises
4) By End Use Industry: Education, Healthcare, Banking Financial Services And Insurance (BFSI), Government, Information Technology And Telecommunication, Other End-Use Industries

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Regional Insights –
North America was the largest region in the digital credential management software market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the digital credential management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Key Companies –
Major companies operating in the digital credential management software market are Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, Salesforce Inc., Thales Group, Symantec Corporation , Atlassian Corporation Plc, Okta Inc., HID Global Corporation, RSA Security LLC, Entrust Corporation, CyberArk Software Ltd., SailPoint Technologies Holdings Inc., Ping Identity Corporation, Centrify Corporation, OneLogin Inc., Vottun, SimpleCert, Portfolium Inc., Sertifier, Concentric Sky, MyKnowledgeMap, Auth0 Inc.

Table of Contents
1. Executive Summary
2. Digital Credential Management Software Market Report Structure
3. Digital Credential Management Software Market Trends And Strategies
4. Digital Credential Management Software Market – Macro Economic Scenario
5. Digital Credential Management Software Market Size And Growth
…..
27. Digital Credential Management Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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