Digital Trust refers to the technologies and solutions that enable trust in digital interactions and transactions. These include technologies such as blockchain, biometrics, and digital identity and signature solutions. Digital trust solutions help verify digital identities of individuals and objects and enable secure digital transactions. They play a crucial role in establishing trust in online interactions. The growing adoption of connected devices and systems in industrial environments has increased the need for ensuring security and trust in digital interactions between machines, sensors, and people. Industry 4.0 technologies such as industrial internet of things (IIoT), cyber-physical systems, cloud computing, and cognitive analytics generate huge amounts of critical and sensitive data that needs to be securely shared and processed. Digital trust solutions help secure IIoT implementations and ensure safe data communication between connected devices and systems.
Global Digital Trust Market is estimated to be valued at US$ 129.26 Mn in 2024 and is expected to exhibit a CAGR of 8.40% over the forecast period 2024 T 2031.
Key Takeaways
Key players: Key players operating in the digital trust market are ABB Ltd, Toshiba International Corporation, Hitachi Ltd, Emerson Electric Company, Robert Bosch GmbH, Panasonic Corporation, Omron Corporation, Honeywell International Inc., Siemens AG, Rockwell Automation, Schneider Electric SE, and Mitsubishi Electric Corporation. ABB Ltd is one of the leading players offering digital trust solutions for industrial systems and critical infrastructure. The company provides identity and access management, blockchain, and digital signatures solutions.
Growing demand: The Digital Trust Market Trends such as IIoT, cloud computing, and blockchain is driving increasing demand for digital trust solutions. As more enterprises digitally transform their operations using connected devices and cloud platforms, the need for establishing trust in digital interactions is surging. Digital trust vendors are witnessing significant from sectors like manufacturing, transportation logistics, and healthcare.
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