Richmond, Jan. 04, 2024 (GLOBE NEWSWIRE) -- According to a research report "Blockchain Identity Management Market, by Offering (Se Software, Services), Provider Type (Application Provider, Middleware Provider, Infrastructure Provider) Networks (Permissioned, Permission less), Organization Size (Small & Medium Enterprises, Medium-Sized Enterprises), Industry Vertical (IT and ITeS, Telecom, Retail and eCommerce, Government, Real Estate and Construction, BFSI, Healthcare, Travel and Hospitality, Other Industry Verticals), and Region - Global Forecast to 2030.
Global Blockchain Identity Management Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 146.5 Million |
| Market size value in 2030 | USD 9,144.9 Million |
| CAGR (2023-2030) | 80.5% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Offering, Provider Type, Organization Size, Industry Vertical and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
| |
| |
| Sample of Companies Covered |
|
| |
|
Download the Sample - https://www.marketdigits.com/request/sample/538
TOC Covers in Depth & Breath on Blockchain Identity Management Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The Blockchain Identity Management market is witnessing significant growth as organizations increasingly recognize the potential of Blockchain technology to enhance security and privacy in identity management. With the rising instances of identity theft and data breaches, businesses are turning to blockchain solutions to establish a more robust and decentralized framework for managing digital identities. The technology's inherent features, such as immutability and cryptographic security, offer a tamper-resistant and transparent system for identity verification. This market is characterized by a surge in adoption across various sectors, including finance, healthcare, and government, driven by the need for secure and efficient identity verification processes. As regulatory frameworks evolve to accommodate blockchain solutions, the market is poised for substantial expansion. Key players in the Blockchain Identity Management market are actively investing in research and development to enhance their offerings and gain a competitive edge in this rapidly growing sector.
Major Vendors In The Global Blockchain Identity Management Market:
- Amazon Web Services, Inc.
- Bitfury Group Limited
- Bitnation
- BTL Group
- Civic Technologies, Inc.
- EVERNYM INC.
- Factom
- IBM
- KYC-CHAIN LIMITED
- Microsoft
- NETKI
- OARO
- Oracle
- OriginalMy
- Procivis AG
- Tracxn Technologies Limited
Request for Discount @ https://www.marketdigits.com/request/discount/538
Proliferation of digital identity ecosystem and Blockchain gaming vertical
The proliferation of the digital identity ecosystem and the emergence of the blockchain gaming vertical synergistically drive the growth of the Blockchain Identity Management market. The expanding digital identity landscape, encompassing various online platforms and services, necessitates a secure and interoperable identity management solution. Blockchain, with its decentralized and tamper-resistant architecture, addresses this need by offering a reliable framework for verifying and managing digital identities. Simultaneously, the rise of blockchain gaming introduces new dimensions to digital identities, with in-game assets and virtual identities becoming valuable and tradable. As users actively participate in blockchain-based gaming ecosystems, the demand for robust identity management solutions grows, ensuring the secure authentication of gamers and the protection of their virtual assets. This dual momentum from the digital identity ecosystem and blockchain gaming vertical propels the Blockchain Identity Management market forward, positioning it as a key enabler in the evolving landscape of online interactions and virtual economies.
Market Dynamics
Drivers:
- Proliferation of digital identity ecosystem and Blockchain gaming vertical
- Increased awareness among businesses and individuals
Opportunities:
- Increasing demand for secure and effective identity management systems
- Growing demand for transparency in retail supply chain
Increasing demand for secure and effective identity management systems
The escalating demand for secure and effective identity management systems presents a significant opportunity for the Blockchain Identity Management market. In an era of heightened cybersecurity threats and data breaches, businesses and individuals alike are seeking advanced solutions to safeguard sensitive information. Blockchain technology, with its decentralized and cryptographic attributes, offers a compelling response to these concerns. By providing a tamper-resistant and transparent system for identity verification, blockchain enhances the security and integrity of identity management. The growing realization that traditional systems are susceptible to vulnerabilities fuels the adoption of blockchain-based solutions. This trend is an opportunity for the Blockchain Identity Management market to position itself as a reliable and innovative alternative, addressing the pressing need for enhanced security in identity verification processes. As organizations prioritize secure identity management, blockchain technology emerges as a strategic choice, driving the market's growth and consolidation in the evolving landscape of digital security.
The market for Blockchain Identity Management is dominated by North America.
North America dominates the Blockchain Identity Management market, with the United States and Canada playing pivotal roles. The U.S. stands out as a major contributor to this dominance, driven by its robust technological infrastructure, a high level of digital adoption, and a proactive approach to blockchain innovation. The U.S. government's interest in blockchain applications for secure identity management further accelerates market growth. In Canada, a similar trend is observed, with a progressive stance on blockchain technology and a growing recognition of its potential in identity management. The North American region collectively benefits from a mature regulatory environment and a tech-savvy populace, fostering a conducive atmosphere for the widespread adoption of blockchain-based identity solutions. The prevalence of major industry players, strategic investments, and a tech-oriented culture positions North America as a stronghold for the flourishing Blockchain Identity Management market.
The Healthcare Segment is Anticipated to Hold the Largest Market Share During the Forecast Period
Based on Industry Vertical the Blockchain Identity Management market is segmented into IT and ITeS, Telecom, Retail and eCommerce, Government, Real Estate and Construction, BFSI, Healthcare, Travel and Hospitality, Other Industry Verticals. The healthcare segment is poised to dominate the Blockchain Identity Management market, holding the largest market share throughout the forecast period. The unique challenges and sensitive nature of healthcare data make the industry a natural fit for blockchain-based identity solutions. The increasing digitization of patient records, coupled with the need for secure and interoperable access to medical information, drives the adoption of blockchain in healthcare identity management. Blockchain's decentralized and tamper-resistant architecture enhances the security and integrity of patient identities, ensuring privacy compliance and preventing unauthorized access. Moreover, as healthcare systems strive for greater efficiency and data accuracy, blockchain technology offers streamlined identity verification processes, reducing administrative burdens. With regulatory bodies acknowledging the potential of blockchain in healthcare, the segment is expected to witness substantial growth, establishing itself as a cornerstone of the broader Blockchain Identity Management market.
Inquire Before Buying: https://www.marketdigits.com/request/enquiry-before-buying/538
Browse Similar Reports:
Managed Blockchain Services Market 2030 By Type, Distribution Channel, End-user and Region - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits
Blockchain in Retail Market 2023 – 2030 By Application (Compliance Management, Identity Management, Loyalty & Rewards Management, Payment, Smart Contracts, and Supply Chain Management) and Provider - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits
Blockchain as a Service Market 2023 – 2030 By Organization Size, End User (FMCG, Healthcare), Application (Supply Chain Management, Smart Contracts, Identity Management, GRC Management), Offering (Tools and Services) - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits
About MarketDigits:
MarketDigits is one of the leading business research and consulting companies that helps clients to tap new and emerging opportunities and revenue areas, thereby assisting them in operational and strategic decision-making. We at MarketDigits believe that a market is a small place and an interface between the supplier and the consumer, thus our focus remains mainly on business research that includes the entire value chain and not only the markets.
We offer services that are most relevant and beneficial to the users, which help businesses to sustain themselves in this competitive market. Our detailed and in-depth analysis of the markets catering to strategic, tactical, and operational data analysis & reporting needs of various industries utilize advanced technology so that our clients get better insights into the markets and identify lucrative opportunities and areas of incremental revenues.
Contact Us:
MarketDigits
1248 CarMia Way Richmond,
VA 23235,
United States.
USA: +1 847 450 0808
Email: sales@marketdigits.com
Web: https://www.marketdigits.com
Follow Us on: | Twitter | LinkedIn |
