Blockchain Identity Management Market Next Big Thing | Amazon Web Services , Bitfury Group Limited , Bitnation, Blockverify , BTL Group Ltd., Cambridge Blockchain, LLC , Civic Technologies
Global Blockchain identity management market is projected to register a CAGR of 52.5% in the forecast period of 2019 to 2026.
Data collection modules with large sample sizes have been used in this Blockchain Identity Management Market report to pull together data and perform base year analysis.
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Blockchain Identity Management Market Players | The key market players for Global blockchain identity management market are listed below:
• Amazon Web Services, Inc.
• Bitfury Group Limited
• BTL Group Ltd.
• Cambridge Blockchain, LLC
• Civic Technologies, Inc.
• Evernym, Inc.
• Existence ID
• IBM Corporation
• KYC-CHAIN LIMITED
• Peer Ledger, Inc.
Blockchain identity management offers a secure and decentralized solution for digital identity enabling distributed trust model. The blockchain technology is transforming the existing identity management system by offering the self-sovereign identity over decentralized networks as sharing multiple IDs may lead to security concerns and data breaches. Since blockchain enables decentralization, it eliminates the aforementioned intermediaries between any interaction and communication. Blockchain technology helps improving the existing identity management by resolving the issues of identity theft, KYC onboarding, and lack of control over personal data.
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The blockchain identity management solution works by registering for global ID, followed by upload of know-your-customer (KYC) documents, verification of KYC documents, generating trust score of the individual and providing a digital ID. We can implement this solution over permissioned and permissionless networks, i.e., private and public networks respectively, although permissioned networks are more secure as it allows access based on the invites only.
Blockchain identity management has been adopted by various industries such as banking, financial services, government services, telecom & IT, e-commerce, supply chain management, travel & hospitality and life sciences & healthcare among other industries, due to its transparency and security.
Blockchain Identity Management Market Segmentation
The global Blockchain identity management market is segmented into four notable segments which are networks, provider, organization size, industry and country.
• On the basis of networks, the market is segmented into permissioned and permissionless.
• On the basis of provider, the market is segmented into application providers, middleware providers and infrastructure providers.
• On the basis of organization size, the market is segmented into large enterprise, small enterprises and medium-sized enterprises
• On the basis of industry, the market is segmented into BFSI, government, healthcare and life sciences, telecom and IT, retail and e-commerce, transport and logistics, real estate, media and entertainment, travel and hospitality, others (automotive, education and energy & utilities).
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