Blockchain Identity Management Market Expected to Reach USD 98744 Billion by 2029, with 85 % CAGR

24.8.2023 : Blockchain Identity Management Market Report Scope and Research Methodology

Report Scope:

The comprehensive report delves into the landscape of blockchain-driven identity management, highlighting its potential to revolutionize conventional security measures. By leveraging blockchain's decentralized ledger technology, this innovative approach addresses the shortcomings of traditional identity systems, offering enhanced security, transparency, and efficient data management. With a focus on self-sovereign identity, the report details how individuals can securely control and manage their own identities, mitigating issues like identity theft.

Research Methodology:

The study utilizes data from 2020 as a base year to forecast market trends from 2022 to 2029. Analyzing the performance of key global players and industry trends over the past five years, the report considers the impact of factors like the COVID-19 pandemic and associated lockdowns. The robust research methodology provides insights into the market dynamics, challenges, opportunities, and regional trends that shape the landscape.

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What are Blockchain Identity Management Market Dynamics?

Market Drivers:

The blockchain identity management market's growth is propelled by several key drivers, including the increasing need for trust and transparency in transactions across various sectors. The surge in e-commerce also contributes to this growth. Blockchain's unique ability to replace intermediaries with secure digital records streamlines transaction management and ensures data accuracy, promoting confidence and security among parties. As digitization gains momentum across industries, demand for secure identity management systems, especially in the face of cyber threats, further accelerates market growth.

Market Restraints:

Despite its potential, challenges persist in the blockchain identity management market. A lack of understanding of blockchain technology, potential scalability issues, energy-intensive solutions, and the immutability of data are factors that may hinder growth. Overcoming these obstacles is essential to realize the technology's full potential.

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Blockchain Identity Management Market Segmentation?

by Provider

Infrastructure Providers
Application Provider
Middleware Providers

According to Provider, the category for Infrastructure Providers is anticipated to experience the largest CAGR growth throughout the forecast period. The market for blockchain management enables infrastructure providers to deliver services with better performance, lower capital costs, higher levels of security, greater scalability and flexibility, and more support for business continuity and disaster recovery.

by Vertical

BFSI
Media and Entertainment
Real Estate
Transport and Logistics

The BFSI segment is anticipated to expand at the greatest CAGR among all verticals throughout the projection period. When compared to the alternatives, the BFSI has altered a number of important banking processes using blockchain, giving a wide range of benefits, including cost savings, usage-based billing, business continuity, agility, and safe storage. Additionally, because savings, payments, liquidity, identification, transparency, and safety are all safeguarded, the majority of the population regularly administers the BFSI.

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Who are Blockchain Identity Management Market Key Players?

1.KYC-Chain
2.Cambridge Blockchain
3.Peer Ledger
4.Existenceid
5.uPort
6.Factom
7.Nodalblock
8.IBM
9.ShoCard
10.UniqID
11.Microsoft
12.OriginalMy
13.Bitnation
14.Civic Technologies
15.Bitfury
16.AWS
17.Coinfirm
18.Neuroware
19.Blockverify
20.Oracle
21.Netki
22.Evernym
23.Tradle
24.BTL Group

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Regional Insights:

North America leads the market with a valuation of US$1,331 million in 2022, expected to continue thriving with an impressive 85% CAGR throughout the forecast period. The region's dominance is attributed to its concentration of major market players and ongoing advancements in blockchain technology. The heightened focus on data security and a rapid rise in merchant concerns are anticipated to drive sustained growth in North America. Furthermore, Asia-Pacific is poised to experience rapid expansion, emerging as a key growth region during the forecast period.

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Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations

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