United States Self-Sovereign Identity Market: Microsoft, Ping Identity & Vendor Competition By 2025-2032 | Top Most Keyplayers - Microsoft Corp, IBM Corporation, DSR Corporation, Voyatek

Global self-sovereign identity (SSI) market reached US$1.30 billion in 2024 and is expected to reach US$44.98 billion by 2032, growing with a CAGR of 84.50% during the forecast period 2025-2032.

According to DataM Intelligence Comprehensive Report has released its latest report on the "Self-Sovereign Identity Market Size 2025," providing a detailed analysis of market trends, key growth drivers, competitive landscape, and regional insights. The report includes market size (value and volume), CAGR projections, and emerging opportunities that help businesses identify growth areas and build effective strategies. Backed by data-driven insights and future outlook, this study serves as a valuable resource for companies looking to stay competitive and capitalize on market potential.

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Industry Developments:

USA:

Government initiatives include pilot programs for decentralized identity systems in federal employee access and benefits distribution, with agencies like Homeland Security and Veterans Affairs involved in blockchain-based ID testing.

Major tech companies such as Microsoft expanded Entra Verified ID in March 2025 to support cross-chain verifiable credentials, enhancing interoperability across blockchain platforms.

States like California and Texas are rolling out verifiable digital IDs aligned with SSI principles for enhanced privacy and user control.

Increased cybersecurity concerns have led enterprises to adopt SSI as part of zero-trust architectures, removing dependence on centralized ID databases.

Japan:

Japan is advancing SSI adoption driven by strong government backing, a tech-savvy population, and efforts to integrate SSI into public and private sector digital services.

Emphasis is on scalable SSI platforms, open standards, and cross-border interoperability to support both individual and enterprise digital identity needs.

Growing awareness and collaborations among governments, businesses, and developers point toward SSI becoming a foundational element of Japan's digital identity ecosystem.

Latest M & A:

The market growth is driven by increasing demand for data privacy, digital identity fraud reduction, and adoption of decentralized digital identity solutions that offer user control and interoperability.​

August 2025: The Hashgraph Group (THG) launched its SSI platform "IDTrust," a decentralized, privacy-first digital identity solution built on the Hedera ecosystem, designed to enable secure, peer-to-peer credential issuance and verification.​

December 2024: Dentity Inc., a US-based Web3 identity verification platform, acquired Trinsic's decentralized ID platform to accelerate adoption of decentralized digital identities and enhance digital trust in Web3 environments.​

Market trends include biometric integration, digital wallets for identity, growing demand for verifiable credentials, and cross-border identity solutions integrated with IoT devices.​

The rapid rise of Web3, zero-trust security models, and platform interoperability are key strategic drivers for SSI market expansion.​

Substantial venture capital investments are fueling startups and technology platforms focused on privacy-preserving technology, blockchain-based decentralized identities, and compliance with evolving global data regulations.​

The SSI market landscape includes major companies like Evernym, Civic Technologies, Microsoft, IBM, and startups developing digital wallets, SDKs, and interoperability frameworks supporting SSI adoption.​

Challenges remain in standardizing digital identity frameworks, ensuring regulatory compliance across geographies, and educating end users on decentralized identity benefits.

Major Key Player:

Microsoft Corp, IBM Corporation, DSR Corporation, Voyatek, Dock Labs AG, Okta, Bosch, SAP SE, Validated ID, Netcetera

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Key Segments:

➥ By Component: Software, Services

➥ By Identity: Individual Identity, Enterprise Identity, Others

➥ By Deployment Mode: On-Premises, Cloud-Based

➥ By Application: Banking, Financial Services & Insurance (BFSI), Government & Public Sector, Healthcare & Life Sciences, Retail & E-commerce, IT & Telecom, Travel & Hospitality, Education & Research, Supply Chain & Logistics, Others

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