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Decentralized Identifiers (DIDs) Technology Market Report 2025-2034: Industry Overview, Trends, And Forecast Analysis
Decentralized Identifiers (DIDs) Technology
What Is the Current Decentralized Identifiers (DIDs) Technology Market Size and Its Estimated Growth Rate?
The decentralized identifiers (DIDs) technology market has grown exponentially in recent years. It will grow from $1.07 billion in 2024 to $2 billion in 2025, with a CAGR of 86.9%. The growth is attributed to concerns about data breaches, cyber threats, inadequate cybersecurity measures, human error, supply chain vulnerabilities, a lack of regulatory compliance, and rising demand for identity and authentication solutions.
The decentralized identifiers (DIDs) technology market is expected to experience exponential growth, reaching $24.22 billion by 2029, with a CAGR of 86.6%. The growth is driven by the increasing adoption of decentralized technologies, data privacy concerns, regulatory mandates, and advancements in identity management. Trends include blockchain advancements, the rise of self-sovereign identity solutions, zero-knowledge proof techniques, and biometric authentication.
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How Are Emerging Segments Shaping the Decentralized Identifiers (DIDs) Technology Market Landscape?
The decentralized identifiers (DIDs) technology market covered in this report is segmented -
1) By Type: Biometric, Non-Biometric
2) By Enterprise Size: Large Enterprises, Small And Medium Enterprises
3) By Application: Banking Financial Services And Insurance (BFSI), Government, HealTH*Care And Life Sciences, Telecom And IT, Retail And E-Commerce, Transport And Logistics, Media And Entertainment, Other Applications
Subsegments:
1) By Biometric: Fingerprint-Based Dids, Face Recognition-Based Dids, Iris Scan-Based Dids, Voice Recognition-Based Dids, Other Biometric Methods (Palm Print, Dna-Based Dids)
2) By Non-Biometric: Password Or Pin-Based Dids, Public Key Infrastructure (Pki)-Based Dids, Qr Code-Based Dids, Blockchain-Based Dids, Smartcard Or Token-Based Dids
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Which Growth Factors Are Influencing Decentralized Identifiers (DIDs) Technology Market Expansion?
Security and data breach concerns are expected to propel the decentralized identifiers (DIDs) technology market. The rising threats from cyberattacks, data breaches, and other security issues are pushing the adoption of DIDs technology, which provides secure, tamper-proof, and privacy-preserving digital identities. For example, Check Point reported a 38% increase in global cyberattacks in 2022 compared to 2021. This growing concern over security and data breaches is accelerating the adoption of DIDs technology.
Who Are the Dominant Players Across Different Decentralized Identifiers (DIDs) Technology Market Segments?
Major companies operating in the decentralized identifiers (DIDs) technology market are Microsoft Corporation, accen*ture Plc, International Business Machines Corporation (IBM), Wipro Limited, Avast Software s.r.o., Ping Identity Corporation, ConsenSys AG, R3, Ontology Foundation Ltd., Hyperledger Foundation, EMURGO, Dock Labs AG, World Wide Web Consortium (W3C), SecureKey Technologies, Civic Technologies Inc., Identity.com Technologies Inc., Evernym Inc., Validated ID S.L., BiiLabs Co. Ltd., Verifiable Inc., Factom Inc., Metadium Technologies Inc., Extrimian, SelfKey Foundation, LifeID Inc., Datarella, Trinsic Inc., Sovrin Foundation, Civic Ledger Pty Ltd
What Are the Major Trends Shaping the Decentralized Identifiers (DIDs) Technology Market?
In the decentralized identifiers (DIDs) technology market, companies are using blockchain to enhance user control over personal data. Wipro launched DICE ID in February 2023, a decentralized identity and credential exchange platform that allows users to securely store and share their verified personal information through blockchain-based technology.
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Which Geographic Regions Are Expected to Dominate the Decentralized Identifiers (DIDs) Technology Market in the Coming Years?
North America was the largest region in the decentralized identifiers (DIDs) technology market in 2024. The regions covered in the decentralized identifiers (DIDs) technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Decentralized Identifiers (DIDs) Technology Market?
2. What is the CAGR expected in the Decentralized Identifiers (DIDs) Technology Market?
3. What Are the Key Innovations Transforming the Decentralized Identifiers (DIDs) Technology Industry?
4. Which Region Is Leading the Decentralized Identifiers (DIDs) Technology Market?
Why This Report Matters:
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