Market Report
The Future of Personal ID to 2029
Personal ID market set for 2.4% growth according to new Smithers report
The market for personal ID in 2024 is worth $10.3 billion, according to the latest research from Smithers, the worldwide authority for the security printing industry. The market is forecast to expand at a rate of 2.4% CAGR over the next five years, reaching $11.6 billion by 2029.
Based on primary research and expert market analysis, The Future of Personal ID to 2029 maps historic, current, and future changes in demand for personal ID documents by document type; security features; and geographic region.
A key trend is the transition towards greater use of digital IDs. Digital ID schemes are already fully established in some parts of the world. The first scheme that plans to extend the use of digital identities over national boundaries is the European Union eIDAS Regulation. This will require all EU member states to offer a digital ID wallet to their citizens that will be accepted across all 27 countries.
Despite the convenience of digital formats, physical IDs will still be required, especially in international travel. As such, the future of personal ID is more likely to be a hybrid or phygital system, where physical and digital versions work side by side.
There will be an increase use of digital-compatible components on IDs, including radio-frequency identification (RFID) and near-field communication (NFC) systems. The largest technology segment is machine-readable features (MRFs). The fastest-growing technology between 2019 and 2029 is biometrics, with demand forecast to be nearly 50% higher in 2029 than it was in 2019.
In 2024, machine-readable features accounted for just over 34% of the global personal ID value. Personalisation had a share of 29.4% and substrates a share of almost 20%. Biometrics and DOVIDs are both forecast to grow their shares of market value from 2024.
Asia continues to be the largest regional market for personal ID with sales valued at $6.2 billion in 2024. All regions will see the demand for personal ID documents grow over the 10-year report period.
The new Smithers market report The Future of Personal ID to 2029 provides a quantitative and qualitative analysis of the global market for personal ID documents, presenting a comprehensive evaluation of the trends, key drivers, security technology segments, end-use markets and geographic markets.