The global Digital Identity Solutions (DIS) market is predicted to grow from $34.5bn in 2023 to $83.2bn by 2028, with a compound annual growth rate of 19.3%. The rise is driven by government digital ID initiatives and increased identity and authentication fraud. Digital identity solutions help organisations verify individuals and determine what they can access. The market leaders include NEC, Samsung SDS, Thales, Telus and IDEMIA. The largest market is banking, financial services and insurance (BFSI).
Cloud Detection and Response (CDR) company, Gem Security, has raised $23m in an oversubscribed Series A funding round. The round was led by GGV Capital