Blockchain Identity Management Market Size To Hit USD 12283.27 Million By 2028 – IMR
Market Overview:
The Global Blockchain Identity Management market was valued at USD 233.79 million in 2021 and is expected to reach USD 12283.27 million by the year 2028, at a CAGR of 76.11%
The management service known as blockchain technology aids in the development of platforms for the prevention of identity theft and other fraudulent activities. Every record that is comprehensively stored and recorded in the data of all transactions and cannot be changed once it has been verified and secured is referred to as a “Block.” In addition, Blockchain Identity Management facilitates the creation of multiple alternate usernames and passwords for the individual while providing secure data and time- and resource-saving features. The significant driving elements for the Blockchain Personality The executives market the rising false exercises in huge worldwide corporates and the ascent in expanding security for the singular’s information.
Top Key Players Covered In The Blockchain Identity Management Market:
- IBM (U.S.)
- Microsoft (U.S.)
- Amazon Web Services (U.S.)
- Civic Technologies (U.S.)
- KYC-Chain (China)
- Bitfury (Netherlands)
- Evernym (U.S.)
- Factom (U.S.)
- Netki (U.S.)
- ShoCard (U.S.)
- UniquID (Switzerland)
- Microsoft (U.S.)
- Oracle (U.S.)
- Bitnation (U.S.)
- Nodalblock (Spain)
- Edge Secure (U.S.)
- Blockverify (UK)
- Peer Ledger (Canada)
- Cambridge Blockchain (U.S.)
- uPort (Switzerland) and other major players
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Market Dynamics and Factors:
Increasing fraudulent activities in big multinational corporates are driving the Blockchain Identity Management Market. Increasing fraudulent activities in big multinational corporations have been a significant driver of the Blockchain Identity Management Market. Identity fraud has become a widespread problem in the corporate world, with malicious actors stealing identities and credentials to gain unauthorized access to sensitive data and systems. Traditional methods of identity management, such as usernames and passwords, have proven to be inadequate in preventing these types of attacks
Rising digitalization of commercial developments is expected to drive the Blockchain Identity Management market. As businesses increasingly rely on digital processes and technologies, the need for secure and efficient identity management solutions becomes paramount. Blockchain technology offers a solution to this problem by providing a secure and decentralized way to manage digital identities. By using blockchain-based identity management systems, businesses can create tamper-proof digital identities for employees, customers, and partners. The adoption of blockchain technology in identity management systems can enable the creation of digital identities that are independent of any centralized authority
Blockchain Identity Management Market Report Highlight:
- By type, the Permissioned segment is anticipated to lead the growth of the Blockchain Identity Management market in the forecasted timeframe. This approach is preferred by organizations as it provides a higher level of security and control over the network, and allows for easier compliance with regulatory requirements.
- By Provider Type, the Infrastructure Providers segment is expected to have the highest share of the Blockchain Identity Management market over the projected period. The increasing necessity to scale an organization’s infrastructure in a secure and long-term manner is mostly responsible for this segment’s development.
- By Industry Verticals, the BFSI segment is set to develop at the highest CAGR during the forecasted timeframe. Blockchain Identity Management is widely used in insurance, banking, financial services, and other industries to provide an additional level of security for their customers.
- The North American region is expected to have the highest share of the Blockchain Identity Management market over the projected period. The presence of prominent key players, as well as an increase in technological advancement, are the main factors driving the development of the market in this region.
Key Industry Development:
In 2019, IBM introduced its most recent product line for the Internet of Things solution, which included AI and advanced analytics for organizations.
In 2018, Civic Technologies, a blockchain identity management company, introduced Civic Connect, an app-to-app integration that makes it possible for smartphones to create a secure login and has a reusable KYC structure.
Blockchain Identity Management Market Segmentation:
By Type
- Permissioned
- Permissionless
By Provider Type
- Application Provider
- Middleware Providers
- Infrastructure Providers
By Industry Verticals
- BFSI
- IT & Telecom
- Government & Public Sector
- Real Estate
- Retail and E-Commerce
- Transport and Logistics
- Media & Entertainment
- Healthcare & Life Sciences
- Others
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For this report, Introspective Market Research has segmented the Blockchain Identity Management Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
North America
- The U.S.
- Canada
- Mexico
Europe
- Germany
- UK
- France
- Italy
- Russia
- Spain
- Rest Of Europe
Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
Scope of the Report:
The latest research on the Blockchain Identity Management market provides a comprehensive overview of the market for the years 2022 to 2028. It gives a comprehensive picture of the global Blockchain Identity Management industry, considering all significant industry trends, market dynamics, competitive landscape, and market analysis tools such as Porter’s five forces analysis, Industry Value chain analysis, and PESTEL analysis of the Blockchain Identity Management market. Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years. The report is designed to help readers find information and make decisions that will help them grow their businesses. The study is written with a specific goal in mind to give business insights and consultancy to help customers make smart business decisions and achieve long-term success in their particular market areas.
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