A study by the Identity Defined Security Alliance (IDSA) reveals that 91% of organizations experiencedat least one identity-related security incident in the past year, with 84% reporting direct business impacts. These incidents often resulted in significant disruptions, including operational distractions, increased recovery costs and reputational damage.
Why it matters: Identity-based attacks, including phishing, credential theft and credential stuffing, now outpace traditional hacks, making identity the top enterprise security risk. In response to this, organizations are increasingly seeking next-gen
identity verification (IDV) systems to stay ahead of evolving threats.
Identity verification market to exceed $20B as digital IDs take hold
Global identity verification revenue is expected to surpass $20 billion by 2030, driven by the demand for scalable, privacy-preserving solutions. As governments roll out national digital ID programs, the shift to reusable identity is accelerating across sectors from finance to healthcare — pushing rapid growth in the global market.
Why it matters:
Reusable digital IDs are redefining trust online, offering fast and secure ways to verify identity without overexposing personal data. This forecast highlights the growing importance and potential of digital identity as a cornerstone for frictionless access, cross-border interoperability and trusted digital interactions.
the first global eID verification platform. Designed to streamline digital identity verification, hConnect acts as a trusted intermediary, offering a single API to access over 100 national eIDs, removing the administrative and technical burden of integrating individual government credentials.
Malaysia is set to launch MyGov Malaysia next mont, a mobile app offering secure access to government services through MyDigital ID. Covering everything from passports and healthcare to taxes and aid, the app will streamline 34 government systems.
The UK’s "DUA" act became law, establishing the legal foundation for accepting digital identity and verification. Voices across the industry hail this as a breakthrough for digital trust, compliance clarity and adoption.
In July, the EU will roll out a new age verification app that allows users to confirm their age online without sharing personal data. The move supports upcoming efforts to protect minors online and could pave the way for regulation if platforms don’t act voluntarily.
📅 Don’t miss our CEO, Ace Shim, live at GDC across three sessions:
Discover COOV, South Korea’s national blockchain-based COVID-19 vaccination credential; explore hTrust, a government-grade trust registry in development; and explore Hopae's hDCX, a wallet SDK designed for rapid integration and compliance.
International Conference on Online Identity Management Technologies
July 10–11, 2025 | Stockholm, Sweden
This conference gathers researchers and industry experts to explore the latest developments in online identity management. It emphasizes forward-looking research and real-world solutions, encouraging interdisciplinary dialogue and collaboration to address evolving challenges in digital identity.
International Conference on AI and the Digital Economy (CADE 2025)
July 14–16, 2025 | Venice, Italy (Hybrid)
This event explores the intersection of artificial intelligence and the digital economy, with dedicated tracks on digital identity, finance, healthcare and transportation. The conference offers a platform for academics and practitioners to share research, build networks and develop ideas on AI applications in various sectors.
