A new report from Juniper Research has found that the use of unique mobile identifier services, which provide identity verification through phone SIM cards, will generate over $7 billion for mobile operators in 2024. This is up from an expected $859 million in 2019; a growth of over 800%.
According to the report, SIM ID will prevail in emerging economies with limited government identity provision, as the primary source of identity for over 3 billion people by 2024.
- Nearly 40% of People will Have Mobile Digital Identity Documents in 2024
- Other digital players will provide apps on top of this framework, with over 600 million discrete third-party identity apps using the operator-provided functions. These third-parties will typically monetise API calls from identity requestors; cutting operators out of this space.
- Smartphone vendors will also capitalise on digital identity via the production of devices with advanced functionality, including biometric identity capabilities. Juniper Research expects over 5 billion smartphones globally to have some form of biometric in 2024, nearly 90% of all smartphones.
Service onboarding is still an opportunity for fraud, despite advances in biometric technology. Many services require a tie back to an existing form of ID, which typically means analogue identification. As a result, facial recognition will become key as it can bridge the digital-physical gap more easily than other biometrics.
James Moar, report author, Juniper Research