Blockchain Identity Management Market - Growth, Trends, Covid-19 Impact, and Forecast (2023 - 2029)

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%

Blockchain technology is a management service that helps in creating platforms for protection against identity theft and fraudulent activities. The rising digitization of economies in developing countries, and increasing adoption of advanced technologies such as blockchain technology by small and medium-scale enterprises, are the major factors driving the growth of the market. Blockchain can authorize users to have greater control over their own identity. It saves time and ensures the security, authenticity, and reliability of the data of users with its cryptographic security. It is used in various industries such as healthcare, retail, banks, and others to verify identity to access information of individuals. Blockchain identity management technology is a technology based on a digital verification system. The increasing use of blockchain identity management for establishing trust and transaction transparency is another driving factor of market growth. Blockchain offers a prepared route for securely exchanging identification information through decentralized networks. It enables individuals to construct encrypted digital identities that might take the place of several usernames and passwords.

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Market Dynamics:

Driver:

Increasing privacy and security concerns is the factor for the growth of the market. Additionally, the rising need for digitization is excepted to drive market growth. Rising demand for effective conventional security and identity management models boosts the market growth during the forecast period. The presence of various players such as Amazon Web Services, Microsoft Corporation, and other major players the blockchain identity management is highly growing during the forecast period.

Opportunities:

An increase in government initiatives for Blockchain identity management technology in developing countries creates an opportunity for market growth. Also, the increasing digitalization of commercial developments gives market opportunity.

The Report Will Include A Major Chapter

•Patent Analysis
•Regulatory Framework
•Technology Roadmap
•BCG Matrix
•Heat Map Analysis
•Price Trend Analysis
•Investment Analysis
•Company Profiling and Competitive Positioning
•Industry Value Chain Analysis
•Market Dynamics and Factors
•Porter's Five Forces Analysis
•Pestle Analysis

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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.

Networks Type Insights:

In Blockchain Identity Management market segment, Permissioned Networks is accounted for the largest segment with a market share of 56.32% and estimated to have Blockchain Identity Management market size of USD 2198.19 million in the year 2026 with a CAGR of 76.42%. While the segment Permission-less is expected to be with a CAGR of 74.52% and Blockchain Identity Management market size of USD 1548.03 million in the year 2026.

Provider Type Insights:

In Blockchain Identity Management market segment, the Infrastructure Provider segment is accounted for the largest segment with a market share of 37.32% and estimated to have a Blockchain Identity Management market size of USD 1353.74 million in the year 2026 with a CAGR of 74.97%. Amazon web services made an announcement in the year 2019 that Clippers Court Vision, an augmented game-watching platform, has made it a primary AI, machine learning cloud computing provider.

Market Segmentation

By Type:

•Permissioned
•Permission less

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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By Region:

•North America (U.S., Canada, Mexico)
•Europe (Germany, U.K., 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, Iran, UAE, Africa, Rest of MEA)
•South America (Brazil, Argentina, Rest of SA)

Key Players For The Global Blockchain Identity Management Market

•IBM
•Microsoft
•Amazon Web Services
•Civic Technologies
•KYC-Chain
•Bitfury
•Evernym
•Factom
•Netki
•ShoCard
•UniquID
•Microsoft
•Oracle
•Bitnation
•Nodalblock
•Edge Secure
•Blockverify
•Peer Ledger
•Cambridge Blockjain
•uPort and other major players

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Key Benefits for Blockchain Identity Management Market:

•This study presents the analytical depiction of the global blockchain identity management market trends and future estimations to determine the imminent investment pockets.

•A detailed analysis of the market measures the potential of the market. These segments outline the favorable conditions for the market.

•The report presents information related to key drivers, restraints, and opportunities.

•Porter's five forces analysis illustrates the potency of buyers & suppliers in the industry.

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