Digital Trust Market Updates

Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to digital trust market. Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.

Digital Trust Market News

in Digital Trust
  • In October 2024, CyberArk completed its acquisition of Venafi for approximately USD 1.54 billion. This strategic move strengthens CyberArk's capabilities in managing machine identities, addressing the growing complexity and volume of non-human entities in digital ecosystems. The acquisition aligns with the increasing demand for comprehensive identity security solutions.
  • In October 2024, Okta rolled out new features in its identity management platform, focusing on improving user authentication processes and integrating with emerging technologies. These enhancements aim to provide organizations with more secure and efficient identity management solutions, aligning with the growing emphasis on digital trust in organizational infrastructures.
  • In April 2023, IBM introduced enhancements to its QRadar suite, integrating AI and machine learning to offer improved threat detection and response capabilities. These advancements aim to address the complexities of modern cyber threats, providing organizations with a comprehensive solution to strengthen their digital trust frameworks.
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Global Digital Trust Market size was valued at USD 344.6 billion in 2023 and is poised to grow from USD 410.42 billion in 2024 to USD 1661.58 billion by 2032, growing at a CAGR of 19.1% during the forecast period (2025-2032).

Many established technology companies and cybersecurity organizations with specialized startups strive for larger market control through different expansion approaches in the global digital trust market. The marketplace leads by IBM and Microsoft and Cisco because these vendors supply complete cybersecurity solutions that incorporate identity management capabilities along with fraud prevention tools. 'Microsoft Corporation', 'Amazon Web Services, Inc. (AWS)', 'IBM Corporation', 'Cisco Systems, Inc.', 'Oracle Corporation', 'Thales Group (France)', 'DigiCert, Inc.', 'ForgeRock, Inc.', 'RSA Security LLC', 'Entrust', 'Verizon Communications Inc', 'Trustwave Holdings, Inc.', 'Ping Identity Corporation', 'OneSpan Inc.', 'Okta, Inc.', 'Nok Labs, Inc.', 'Signicat AS (Norway)', 'Jumio Corporation', 'Comodo Group, Inc.', 'Broadcom Inc'

The increase in cyberattacks together with data breaches serves as a major force behind digital trust adoption. Identity theft stands as the most reported issue at the Federal Trade Commission (FTC) Consumer Sentinel Network Data Book for 2023 because it represents 19% of all consumer complaints. Reports filed with the FTC reached 1 million in 2023 because public concern about personal data security continues to rise. Customers mostly reported credit card fraud because of new and existing account fraud incidents. The statistics demonstrate an immediate necessity to develop strong digital trust systems alongside advanced cybersecurity solutions which protect people in Digital environments.

Short-Term: The short-term danger to digital trust will emerge from AI-generated misinformation during this foreseeable period. The World Economic Forum demonstrated AI-generated false information to be one of the most critical global risks in its 2024 report for election periods. The importance of developing strong verification tools and digital literacy education becomes imperative to sustai digital trust systems.

What Factors Are Driving North America's Dominance in the Digital Trust Market?

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Global Digital Trust Market
Digital Trust Market

Report ID: SQMIG45A2559

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