A new study from Juniper Research has found that the number of digital identity apps in use will exceed 4.1 billion globally by 2027; rising from 2.3 billion in 2023.
This represents a growth of 82% over the next four years. This increase will be driven by the use of government-backed digital identities to replace physical identity documents as a source of verification for third-party apps, such as banking and financial services. This will be critical, as businesses aim to reduce identity theft and meet increasingly stringent KYC (Know Your Customer) regulations.
