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In 2024, 5 billion people use digital ID

Digital ID platforms to be used by 5 billion people in 2024, as Emerging Economies go Mobile-First, and the countries are following Estonia’s lead of rapid digital identity development, writes Morningstar.

According to Morningstar, mobile ID schemes take the lead over digital identity cards, with a third more users relying on apps compared to cards in the next 5 years.

A new report from Juniper Research found that the number of people using government-issued digital identity credentials will grow by over 150% from an expected 1.7 billion in 2019 to over 5 billion in 2024. Emerging economies in Asia and Africa are some of the biggest markets, as countries leapfrog analogue identities to benefit from the efficiencies digital registration and management bring.

Emerging economies follow Estonia

The report, Digital Identity: Technology Evolution, Regulatory Analysis & Forecasts 2019-2024shows that those countries unencumbered by legacy systems are following Estonia’s lead of rapid digital identity development. For example, we expect almost 12 million people in Malawi to have digital identities in 2022, with Nigeria and other countries supplying digital identity to over 420 million people on the continent on both cards and apps.

Governments typically provided such cards, which many people in more developed countries have previously rejected. Juniper Research anticipates that markets across Europe and North America will be led by the financial services sector and digital driving licenses, rather than formal government identification.

Estonia is the world’s most digitally enabled nation, offering a unique combination of talent, environment and innovation. Read more about the opportunities Estonia offers here or send us an e-consulting request to get more detailed information.

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