09 May, 2023, 14:00 ET
New research examines the shift toward end-to-end digital identity solutions that reduce tech stack complexity, improve security, deliver a better customer experience, and build consumer trust.
NEW YORK, May 9, 2023 /PRNewswire/ -- According to a new research report from Liminal, "The Rise of Integrated Identity Platforms," businesses can capture a rapidly growing market opportunity for an end-to-end digital identity solution working across the consumer lifecycle, that is capable of reducing fraud costs for businesses and improving customer engagement.
There is a large and rapidly growing market opportunity for IIPs, and it's expected to outpace the growth of the overall identity market. Based on 90 market use cases across 18 verticals, there's a $48.1B TAM for the Integrated Identity Platform market in 2023, growing at a 24.6% CAGR to reach $115.9B by 2027.
Integrated Identity Platforms are comprehensive identity solutions that streamline capabilities across the consumer lifecycle through orchestration and network-sharing capabilities. IIPs are becoming increasingly relevant for businesses with their ability to minimize fraud loss, increase customer conversions, and reduce overhead costs with a simplified tech stack.
"We expect significant market growth for Integrated Identity Platforms as enterprise demand shifts away from point solutions," said Will Charnley, Managing Director at Liminal. "There are real cost savings for buyers to
simplify their legacy systems while converting more good customers. Consumers stand to benefit from more streamlined, secure digital interactions for an overall better customer experience. Many institutional investors are driving the market towards IIP with their investments and acquisitions, and we expect to see these solutions begin to emerge in the market."
Compared to current solutions, IIPs have greater potential for network effects due to their orchestration and signal-sharing capabilities, resulting in increased speed, efficiency, and security. As vendors develop capabilities, IIPs are well-positioned to serve many use cases such as credit decisioning, age assurance, targeted marketing, and additional value-added services.
Download a summary of the report "The Rise of Integrated Identity Platforms," or gain full access to this research and other exclusive insights with a Liminal membership. Become a member today or explore more available thought leadership at www.liminal.co.
Liminal’s research delivers original insights and perspectives derived from specialized market data and models on the topics that matter most to digital identity, fintech, and cybersecurity companies. It comprises a detailed analysis of over 120 product features for 2,000 solution providers across 32 solution segments in the digital identity landscape.
Liminal conducts primary research enriched with expert insights from leaders worldwide to provide actionable market intelligence. This helps executives accelerate strategic and investment decisions and connect with their next customer, solution provider, or investor to achieve superior returns. The most recent seminal report is available to Liminal members in the Link™ platform.
Liminal is a market intelligence and strategic advisory firm serving digital identity, fintech, cybersecurity solution providers, and the private equity and venture capital community. Since 2016, Liminal has provided strategy and analytical services that support executive decision-making at all product or business lifecycle stages. We advise some of the world's most prominent and innovative business leaders, investors, and government officials on building, buying, and investing in the next generation of digital identity solutions and technologies.