eID Market to Generate $54M in Revenues by 2021: Acuity

The worldwide national electronic ID market will produce more than $54 billion in revenues between 2016 and 2021, according to a new forecast from Acuity Market Intelligence.

The firm’s report, The Global National eID Industry Report: 2017 Edition, predicts that during that same period, the number of countries issuing eID cards will rise from 124 to 136, with Asia accounting for over 60 percent of all such cards issued. One hundred and three countries will issue 3.2 billion chip-based eID cards, and 33 countries will issue 485 million eID cards featuring biometrics.

Looking ahead in a report summary, Acuity Market Intelligence Principal Maxine Most says the market’s growth rate “will likely stabilize by 2020.” From there, the market will see “an evolution towards mobility,” with IDs increasingly being stored on mobile devices – a process that is already starting to emerge as certain government bodies start to experiment with mobile official ID documents.

The predictions reflect broader trends affecting other sectors, with civil ID information increasingly going digital and mobile devices playing an increasingly central role in everyday life, while biometrics are increasingly used for authentication across a range of applications; it only makes sense that all these trends are poised to converge in national ID.

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March 29, 2017 – by Alex Perala