Accessibility Statement Skip Navigation
  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing
  • Login
  • GDPR
  • Create a Free Account
Return to PRWeb homepage
  • News
  • Resources
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
  • Business & Money
      • Auto & Transportation

      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Hamburger menu
  • Cision PRWeb provides efficient communication tools to continuously engage with target audiences across multiple online channels
  • Create a Free Account
    • ALL CONTACT INFO
    • Contact Us


      11AM ET Sunday – 8PM ET Friday

  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR

$315 Billion Revenue Opportunity in Biometric Digital Identity Projected by The Prism Project 2024 Flagship Report


News provided by

The Prism Project

Jan 07, 2025, 07:19 ET

Share this article

Share toX

Share this article

Share toX

The 2024 Flagship Prism Landscape
The 2024 Flagship Prism Landscape

Report Evaluates 250+ Industry Players and Highlights Key Dynamics Driving Growth of the Global Digital Identity Ecosystem

DENVER, Jan. 7, 2025 /PRNewswire-PRWeb/ -- The Prism Project's highly anticipated Biometric Digital Identity Flagship Report evaluates more than 250 industry players and identifies the key market dynamics driving extraordinary growth in the emerging global digital identity ecosystem. Published by Acuity Market Intelligence, the leading biometric digital identity research consultancy, the report highlights the critical role of biometrics in reducing fraud, improving operational efficiency, preserving privacy, and enhancing user experience in the era of digital transformation.

Forecasting over $315 billion in global revenue and 5.6 trillion biometric transactions between 2024 and 2028, the report reveals the massive potential of biometric digital identity solutions. The Prism Project's intense market focus based on the foundational conviction that the only true, reliable link between humans and their digital data is biometrics, and supported by proprietary survey data, market forecasts, and analysis models, exposes the digital transformation challenges common to all markets that can be addressed with orchestrated biometric technologies.

"With biometric-centric digital identity, enhancing customer experience becomes an opportunity to reduce fraud, improve operational efficiency, protect privacy, all while satisfying compliance requirements and increasing revenue"

Post this

Transformative Impact of Biometrics

"The scale of biometric digital identity adoption reflects its pivotal role in shaping the evolution of digital transformation across the world," said Maxine Most, founder of The Prism Project and Acuity Market Intelligence and report author. "From fraud prevention to improved user experiences, the potential for biometrics to revolutionize the emerging global digital ecosystem is unprecedented."

Designed to illuminate the rapidly evolving landscape of biometric digital identity, this report is a valuable resource for industry stakeholders and technology innovators. It empowers influencers and decision-makers to understand, evaluate, and implement biometric digital identity technology and solutions. The report delivers actionable insights into how biometrics can be leveraged to address critical challenges from fraud prevention and automation to enhancing guest experiences and meeting regulatory requirements.

Addressing Challenges and Opportunities

The report identifies critical challenges in the digital identity marketplace, such as deepfakes and synthetic identity fraud, data privacy concerns, and siloed identity infrastructures. It offers real-world case studies demonstrating how biometric technologies such as liveness and deepfake detection integrated into decentralized identity platforms with privacy-first design principals and fraud prevention tools are solving these problems today.

"With biometric-centric digital identity, enhancing customer experience becomes an opportunity to reduce fraud, improve operational efficiency, protect privacy, all while satisfying compliance requirements and increasing revenue," Most said. "The Flagship Prism Report is not just a roadmap for biometric digital identity's future; it's a call to action for businesses and consumers, governments and citizens, to prioritize secure and inclusive identity solutions as a means to usher in a privacy-first future of user-empowered identity that is more intuitive, convenient, and profitable."

What's Inside the Flagship Prism Report

  • Comprehensive Insights: Holistic analysis of the global digital identity industry framed around common challenges and biometric solutions.
  • Market Forecasts: Original research predicting 47.5% CAGR with a total of $315 billion in revenue and 5.6 trillion transactions over the forecast period from 2024 – 2028.
  • Vendor Evaluations: Proprietary assessment methodology applied to more than 250 vendors and organizations operating in and supporting the global digital identity ecosystem
  • Prism Market Landscape Model: Flagship version of the proprietary Biometric Digital Identity Prism market framework that positions market players as Luminaires, Catalysts, or Pulsars based on their individual evaluations.
  • Real-World Use Cases: Deployed solutions showcasing how biometric digital identity is reducing fraud, lowering costs, delivering enhanced guest experiences, improving efficiency, and increasing virtual and physical security all while protecting citizen and consumer privacy and personal data.

Key Findings

  • User Experience: Biometric integration enhances customer satisfaction and operational efficiency, especially in travel and e-commerce sectors.
  • Regulatory Compliance: Biometric solutions streamline adherence to stringent data privacy, anti-money laundering (AML), and Know Your Customer (KYC) requirements.
  • Fraud Mitigation: Biometrics offer robust defenses against synthetic identity fraud and AI-powered scams that cost the global economy billions annually.

Survey Insights

The report draws from surveys of vendors and relying parties across key sectors, revealing the following trends:

  • Primary Motivators: Regulatory compliance, fraud protection, and enhanced customer experience are top drivers for adoption among relying parties.
  • Alignment Gaps: Though vendors also see fraud as a major motivation for adoption, a disparity exists between vendor perception of automation driven demand, and their customers, the relying parties, who are focused on compliance and customer experience key adoption factors.
  • Deployment Trends: Authentication, onboarding, and access control are the most widely adopted applications, while employee time and attendance has seen minimal interest, marking a shift in biometric use cases.

Market Projections

The report highlights significant growth of biometric digital identity globally and across key regions and vertical markets:

  • Total Market Growth: $315 billion in revenue and 5.6 trillion transactions globally with North America leading in revenue share (35%) and APAC dominating transaction volumes (48%).
  • Financial Services: 1.2 trillion transactions generating $40 billion in revenue. As with the global market, North America leads in revenue share (35%) and APAC dominates transaction volumes (48%) .
  • Travel and Hospitality: 262 billion transactions driving $72 billion in revenue, with air travel accounting for 50% of the market, followed by 33% for hotels and resorts.
  • Government Services: 6.4 trillion transactions generating $202.5 billion in revenue, driven by initiatives across Europe, North America, and APAC.

The Finale of the 2024 Prism Reports Series

The Flagship Prism Report is the last of four Biometric Digital Identity Prism reports released by The Prism Project in 2024, alongside the Financial Services Prism Report, the Travel and Hospitality Prism Report, and the Government Services Prism Report.

Each report builds on the Biometric Digital Identity Prism, a proprietary market landscape framework that helps influencers and decision-makers understand, evaluate, and implement digital identity technologies and solutions. The Prism is the only truly biometric-centric market model for understanding and evaluating the global digital identity ecosystem. It is based on the foundational conviction that in the age of digital transformation, the only true, reliable link between humans and their digital data is biometrics.

Together, these reports provide in-depth analyses of biometric digital identity's transformative potential across critical industries, addressing unique challenges and opportunities in each domain.

All reports are available for download after a brief registration at www.the-prism-project.com/reports.

The Role of Collaboration in a Transformative Era

The success of the 2024 Flagship Prism Report is rooted in the collective commitment and forward-thinking contributions of its 28 sponsors and partners - a who's who of the global digital identity intelligentsia. They are:

Anonybit, AuthenticID, AuthID, Aware, Biometria Aplicada, Daon, ID Dataweb, Ideem, IDEMIA, Identity Week, Identy, ID Tech, iiDENTIFii, Incode, Innovatrics, Indicio, Inverid, iProov, Kantara Initiative, Keyless, Panini, Peak IDV, SITA, Sodec Technologies, Tech5, Veratad, Veriff, and Wicket.

These leaders in the biometric and digital identity share The Prism Project's vision for a secure, inclusive digital identity ecosystem. Their contributions highlight the innovation and collaboration needed to build scalable, privacy-centric solutions that empower global digital transformation.

A Platform of Independence and Integrity

While sponsorship provides organizations with increased visibility and opportunities for profiles and case studies, The Prism Project maintains strict independence and unbiased assessments. Sponsorship does not influence vendor evaluations or rankings, ensuring readers receive transparent, objective insights.

About The Prism Project - The Prism Project (www.the-prism-project.com) is at the forefront of biometric and digital identity research and education. Created by Acuity Market Intelligence, it bridges the gap between identity technology experts and organizations seeking innovative solutions for digital transformation. Through industry collaboration and comprehensive research, The Prism Project empowers influencers and decision-makers to forge a secure, human-centric digital identity future.

About Acuity Market Intelligence - Acuity Market Intelligence (www.acuitymi.com) is a trusted research and strategic advisory firm specializing in biometrics, identity, and digital transformation. Known for delivering actionable insights and proprietary market forecasts, Acuity helps organizations navigate the rapidly evolving digital identity landscape with confidence and clarity.

For further information, interviews, sponsor inquiries, or to download Prism reports, please visit www.the-prism-project.com or contact [email protected].

Media Contact

Maxine Most, The Prism Project, 1 3034491897, [email protected], www.the-prism-project.com

LinkedIn

SOURCE The Prism Project

Modal title

2024 Flagship Report Cover
2024 Flagship Report Cover
Revenue Projections 2024 - 2026
Revenue Projections 2024 - 2026
2024 Flagship Report Cover Revenue Projections 2024 - 2026

Contact PRWeb

  • 11AM ET Sunday – 8PM ET Friday
  • Contact Us

About PRWeb

  • About PRWeb
  • Partners
  • Partnership Programs
  • Editorial Guidelines
  • Resources

Why PRWeb

  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing

Accounts

  • Create a Free Account
  • Log in
  • Contact Us

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Legal
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 Cision US Inc.