Press release
Decentralized Identity Market Rewriting Long Term Growth Story: Microsoft, Affinidy, Nuggets
Decentralized Identity Market
Key Players in This Report Include: Microsoft (United States), Civic (United States), Persistent (India), Wipro (India), Affinidy (Singapore), 1Kosmos (United States), Ping Identity (United States), Nuggets (United Kingdom), Serto (United States)
According to HTF Market Intelligence, the global Decentralized Identity market is valued at USD 1.2 Billion in 2023 and is estimated to reach a revenue of USD 3 Billion by 2030, with a CAGR of 22% from 2023 to 2030.
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Definition:
Decentralized identity refers to a digital identity system that allows individuals to control their personal data without relying on centralized authorities. This system utilizes blockchain technology to create secure, verifiable credentials that enhance privacy and data ownership. As digital interactions grow, decentralized identity solutions are gaining traction to empower users with greater control over their identity in online transactions, while also enhancing security against identity theft and fraud.
Market Trends:
Emergence of decentralized platforms, rise of personal data control
Market Drivers:
Rising Cases of Frauds and Security Breaches
Market Opportunities:
Advancements in Blockchain Technology
Market Challenges:
Regulatory hurdles, technological integration issues
Fastest-Growing Region:
Asia-Pacific
Dominating Region:
North America, Europe
Market Leaders & Development Strategies:
In March 2022, Avast acquired SecureKey Technologies. SecureKey Technologies gave Avast access to its decentralized identity expertise and large customer base. In January 2023, Quadrata, a Web3 identification solution intended to enhance their reputation and compliance in public blockchains has partnered with total 9 well-known DeFi protocols including SPACE, Cred Protocol, BSOS, TrueFi, Archblock, Chee Finance, Chelo Finance, Frigg,Eco, CR Square.
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The Global Decentralized Identity Market segments and Market Data Break Down are illuminated below:
Decentralized Identity Market is Segmented by Identity Type (Biometrics, Non-biometrics) by Component (Software, Services) by Enterprise Size (Large Enterprises, Small & Medium Enterprises) by End-User (BFSI, Government & Public Sector, Healthcare, IT & Telecommunication, Media & Entertainment, Real Estate, Retail & E-commerce, Others) and by Geography (North America, LATAM, West Europe, Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA)
Global Decentralized Identity market report highlights information regarding the current and future industry trends, growth patterns, as well as it offers business strategies to helps the stakeholders in making sound decisions that may help to ensure the profit trajectory over the forecast years.
Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
• The Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
• North America (United States, Mexico & Canada)
• South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
• Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
• Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).
Objectives of the Report
• -To carefully analyze and forecast the size of the Decentralized Identity market by value and volume.
• -To estimate the market shares of major segments of the Decentralized Identity
• -To showcase the development of the Decentralized Identity market in different parts of the world.
• -To analyze and study micro-markets in terms of their contributions to the Decentralized Identity market, their prospects, and individual growth trends.
• -To offer precise and useful details about factors affecting the growth of the Decentralized Identity
• -To provide a meticulous assessment of crucial business strategies used by leading companies operating in the Decentralized Identity market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments, and product launches.
𝐑𝐞𝐚𝐝 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐈𝐧𝐝𝐞𝐱 𝐨𝐟 𝐟𝐮𝐥𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐒𝐭𝐮𝐝𝐲: https://www.htfmarketintelligence.com/report/global-decentralized-identity-market
Major highlights from Table of Contents:
Decentralized Identity Market Study Coverages:
• It includes major manufacturers, emerging player's growth story, and major business segments of Decentralized Identity market, years considered, and research objectives. Additionally, segmentation on the basis of the type of product, application, and technology.
• Decentralized Identity Market Executive Summary: It gives a summary of overall studies, growth rate, available market, competitive landscape, market drivers, trends, and issues, and macroscopic indicators.
• Decentralized Identity Market Production by Region Decentralized Identity Market Profile of Manufacturers-players are studied on the basis of SWOT, their products, production, value, financials, and other vital factors.
Key Points Covered in Decentralized Identity Market Report:
• Decentralized Identity Overview, Definition and Classification Market drivers and barriers
• Decentralized Identity Market Competition by Manufacturers
• Impact Analysis of COVID-19 on Decentralized Identity Market
• Decentralized Identity Capacity, Production, Revenue (Value) by Region (2023-2030)
• Decentralized Identity Supply (Production), Consumption, Export, Import by Region (2023-2030)
• Decentralized Identity Production, Revenue (Value), Price Trend by Type {Biometrics, Non-biometrics}
• Decentralized Identity Manufacturers Profiles/Analysis Decentralized Identity Manufacturing Cost Analysis, Industrial/Supply Chain Analysis, Sourcing Strategy and Downstream Buyers, Marketing
• Strategy by Key Manufacturers/Players, Connected Distributors/Traders Standardization, Regulatory and collaborative initiatives, Industry road map and value chain Market Effect Factors Analysis.
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Key questions answered
• How feasible is Decentralized Identity market for long-term investment?
• What are influencing factors driving the demand for Decentralized Identity near future?
• What is the impact analysis of various factors in the Global Decentralized Identity market growth?
• What are the recent trends in the regional market and how successful they are?
Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Middle East, Africa, Europe or LATAM, Southeast Asia.
Nidhi Bhawsar (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Phone: +15075562445
sales@htfmarketreport.com
About Author:
HTF Market Intelligence Consulting is uniquely positioned to empower and inspire with research and consulting services to enable businesses with growth strategies, by offering services with extraordinary depth and breadth of thought leadership, research, tools, events, and experience that assist in decision-making.
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