Lack of identity standards and budgetary constraints:ĬOVID-19 Impact on ID Technologies Market Increase in use of Artificial Intelligence (AI) and Machine Learning Growing number of identity thefts and frauds ID4D is an initiative of the United Nations and the World Bank aiming to provide everyone on earth with a legal identity by 2030. Innovative ID technology is a top priority for many large multinationals For instance, IBM Corporation partnered with Imprivata, an IT security company, to launch a cloud-based identity and access management solution designed to help their customers manage provisioning tracking and de-provisioning of their hybrid cloud and on-premise environments.įurther, governments worldwide focus on creating stringent regulations to curb identity theft and work to secure legal identity for a global population. Increased cyber-attack sophistication, cloud adoption, BYOD (Bring your own device) policies adopted by various organizations, and government compliance are the factors driving the ID technology market to grow. Emerging economies such as India are increasingly deploying centralized electronic identification systems, increasing the market's growth. Travel and tourism industries are booming globally, so national security uses of biometric technologies are on the rise, positively impacting the market growth of ID technologies.
Growing concern about data security and safety is driving the demand for ID technologies across a variety of industries. ID technology or identification technology includes smart cards, voice recognition, face recognition, biometrics, and barcodes among other techniques used to identify objects and individuals.
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