Digital Credential Management Software Market Size, Share, Trends, Growth Rate And Forecast 2033

Overview and Scope

Digital credential management software refers to platforms designed to securely store, manage, distribute, and authenticate digital identities, credentials, and certificates. This software streamlines the secure issuance, tracking, and management of digital certificates and credentials across an organization’s infrastructure.

 

Sizing and Forecast

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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Segmentation & Regional Insights

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

 

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.

 

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Major Driver Impacting Market Growth

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.

 

Key Industry Players

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.

 

The digital credential management software market report table of contents includes:

1. Executive Summary
2. Digital Credential Management Software Market Characteristics
3. Digital Credential Management Software Market Trends And Strategies
4. Digital Credential Management Software Market – Macro Economic Scenario
5. Global Digital Credential Management Software Market Size and Growth
6. Digital Credential Management Software Market Segmentation
7. Digital Credential Management Software Market Regional And Country Analysis

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34. Key Mergers And Acquisitions In The Digital Credential Management Software Market
35. Digital Credential Management Software Market Future Outlook and Potential Analysis
36. Appendix

 

List Of Tables:

Table 1: Global Historic Market Growth, 2018-2023, $ Billion

Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion

Table 3: Global Digital Credential Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 4: Global Digital Credential Management Software Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 5: Global Digital Credential Management Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

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Table 75: Microsoft Corporation Financial Performance

Table 76: International Business Machines Corporation Financial Performance

Table 77: Oracle Corporation Financial Performance

Table 78: Salesforce Inc. Financial Performance

Table 79: Thales Group Financial Performance

 

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