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Liminal Report Projects $15.5 Billion U.S. Market Opportunity for Identity Authorization Networks by 2028
Wednesday, November 27, 2024
New Seminal Research Highlights the Critical Role of Identity Authorization Networks in Combating Fraud and Establishing Trust in a Digital-First World
NEW YORK, Nov. 19, 2024 /PRNewswire/ -- Liminal, a market and competitive intelligence technology leader, has released a new seminal report, The Market for Identity Authorization Networks in the United States, introducing and defining Identity Authorization Networks (IANs) as an emerging category. The report forecasts that the total market size for IANs in the U.S. will grow significantly, representing $15.5 billion by 2028, as demand grows for solutions that securely link online transactions to verified identities. With rising digital fraud, IANs offer a fresh approach to building trust and enhancing the security of digital interactions through the practical extension of identity verification into new industries and use cases.
"As generative AI fraud and digital identity theft escalate, the need has become apparent to solve for trust and fraud by design vs. as an afterthought," said Travis Jarae, CEO at Liminal. "Our research reveals how IANs can transform digital trust, providing a scalable, cost-efficient, and user-friendly solution that securely links real-world identities to online actions. Businesses with the vision, conviction, and resources to execute on the Identity Authorization Network opportunity can seize substantial financial and strategic gains."
The report identifies the rising need for IANs across financial services, government, e-commerce, and fintech sectors. These networks help businesses meet regulatory requirements, prevent fraud, and enhance user experience by securely verifying identity at critical points in the digital journey. By establishing identity trust and authorization networks, industries can ensure safe, frictionless transactions while addressing the unique challenges of digital fraud and synthetic identity threats.
Key Insights from Liminal's Seminal Research:
-- $15.5 Billion Market Opportunity - The Identity Authorization Network
(IAN) market in the U.S. is projected to represent $15.5 billion by
2028, fueled by a sharp increase in digital fraud incidents and rising
demand for secure identity verification solutions.
-- 90% of E-commerce Platforms Report an Increase in AI-enabled Transaction
Fraud, and lower assurance verticals are already beginning to feel the
impact of this wave of fraud.
-- 80% of Banks Expect GenAI Fraud to Undermine their Anti-fraud Methods,
and financial services firms cite being unprepared to deal with novel
fraud vectors introduced by AI.
-- 75% of Banks are Deeply Concerned about Document and Signature Fraud,
and 86% Seek Enhanced Security Solutions. Fraud and risk executives
recognize the risks of electronic document fraud and are ready to
allocate more budget to close security gaps, making IANs a strategic
starting point.
Liminal's report on The Market for Identity Authorization Networks equips business leaders to understand a fast-evolving digital trust landscape, how IANs can generate tremendous value in the face of new threats and requirements, and which digital identity players could capture the IAN opportunity. The report offers a detailed analysis of adoption drivers, technology trends, and how IANs are poised to revolutionize digital identity in the United States.
Upcoming Events:
Register for and attend our upcoming webinar on December 11 at 11 a.m. ET to explore key findings from the report and gain deeper insights into building and leveraging Identity Authorization Networks.
About Liminal
Liminal is a technology company empowering businesses with actionable market and competitive intelligence. Our advanced platform combines AI precision with human expertise to deliver unparalleled insights, helping executives make informed decisions, enhance productivity, and drive growth. Trusted by industry leaders across public and private sectors, we provide targeted solutions for fraud and identity, cybersecurity, trust and safety, financial crimes compliance, and privacy management. Empower your business with the actionable future intelligence needed to thrive in today's market.
Visit Liminal.co for more information.
Contact:
Stacy Schulman
Liminal Media Relations
media@liminal.co
1 (602) 616-9818
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SOURCE Liminal Strategy, Inc.
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