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Blockchain Identity Management Market Report 2023-2030 - A $34.9 Billion Market by 2030 - Trends Analysis By Vertical, Offering, Enterprise Size, Provider Type, Network and Segment
Friday, February 16, 2024

DUBLIN, Feb. 8, 2024 /PRNewswire/ -- The "Blockchain Identity Management Market Size, Share & Trends Analysis Report By Vertical (Government, BFSI), By Offering (Software, Services), By Enterprise Size (SMEs, Large), By Provider Type, By Network, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.

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The global blockchain identity management market size is expected to reach USD 34.94 billion by 2030, growing at a CAGR of 82.6% from 2023 to 2030.

Blockchain technology presents a robust solution for mitigating the risks associated with data breaches and unauthorized access. Blockchain significantly reduces vulnerabilities by storing identity information in a decentralized and immutable ledger. Employing cryptographic protection further enhances the security and reliability of the identity management process, driving market growth. Individuals gain enhanced control over their personal data through blockchain-based identity management.

This empowerment allows users to selectively share specific attributes as needed, safeguarding their privacy and enabling consent management. Moreover, the technology fosters seamless portability of identities across various platforms and services, streamlining user experiences and eliminating the need for multiple accounts. Blockchain's distributed architecture enables swift and efficient identity verification procedures. Real-time user verification facilitated by consensus mechanisms simplifies onboarding and authentication processes. In addition, the decentralized nature of blockchain eliminates the reliance on a single central entity for identity data management.

This not only eradicates the need for trust in a central authority but also eliminates the risk of data manipulation or a single point of failure. The COVID-19 pandemic positively impacted the market by heightening awareness about data privacy and security. As individuals and organizations shifted more activities online, concerns about cyber threats, data breaches, and unauthorized access grew significantly. Blockchain technology's inherent security features, including cryptographic encryption and immutability, gained attention as effective tools to mitigate these risks. This increased awareness led to a greater appreciation for blockchain's potential to ensure the confidentiality and integrity of personal and sensitive information, driving market growth.

Blockchain Identity Management Market Report Highlights

    --  The services segment is expected to grow at a significant rate from 2023
        to 2030. With services encompassing a wide range of offerings, from
        strategy development to technical support, its flexibility, and tailored
        approach are driving the segment growth
    --  The application provider segment dominated the market in 2022.
        Application providers frequently invest in R&D to stay ahead of the
        curve, continuously enhancing their offerings to align with evolving
        market trends and regulatory requirements
    --  The permissioned network segment dominated the market in 2022. The
        permissioned nature of these networks facilitates compliance with
        regulatory frameworks, allowing organizations to meet legal and
        industry-specific requirements. As businesses increasingly prioritize
        data protection and adherence to regulations, permissioned networks
        provide a robust solution that balances security, efficiency, and
        compliance
    --  The large enterprises segment dominated the market in 2022. The
        integration of blockchain-based identity management aligns with the
        growing emphasis on regulatory compliance and data protection standards
    --  With their substantial influence and ability to invest in advanced
        technology solutions, large enterprises are at the forefront of adopting
        and shaping the future of blockchain-based identity management,
        positioning themselves to leverage its benefits for improved operational
        efficiency, user experience, and overall security
    --  The IT & ITeS vertical segment dominated the market in 2022. The
        streamlined and transparent processes enabled by blockchain-based
        identity management align harmoniously with the IT & ITeS sector's goals
        of optimizing operational efficiency and enhancing user trust
    --  Asia Pacific is expected to register the fastest CAGR from 2023 to 2030
        due to the rising need for dependable blockchain-driven identity
        solutions. Governments in nations like Singapore, India, and Australia
        are championing blockchain identity to amplify service efficacy, evident
        in applications like e-voting and e-passports

Key Topics Covered:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary

2.1. Market Outlook

2.2. Segmental Outlook

2.3. Competitive Landscape Snapshot

Chapter 3. Market Variables, Trends, and Scope

3.1. Market Lineage Outlook

3.2. Industry Value Chain Analysis

3.3. Market Dynamics

3.3.1. Market Driver Impact Analysis

3.3.1.1. The growing adoption of blockchain technology

3.3.1.2. The need for interoperability in a digitally connected world

3.3.2. Market Challenge Impact Analysis

3.3.2.1. The challenge of interoperability and standardization across different blockchain platforms and identity systems

3.4. Impact of COVID-19 Pandemic

3.5. Industry Analysis Tools

Chapter 4. Blockchain Identity Management Market: Offering Estimates & Trend Analysis

4.1. Offering Movement Analysis & Market Share, 2022 & 2030

4.2. Blockchain Identity Management Market Estimates & Forecast, By Offering

4.2.1. Software

4.2.2. Services

Chapter 5. Blockchain Identity Management Market: Provider Type Estimates & Trend Analysis

5.1. Provider Type Movement Analysis & Market Share, 2022 & 2030

5.2. Blockchain Identity Management Market Estimates & Forecast, By Provider Type

5.2.1. Application Provider

5.2.2. Middleware Provider

5.2.3. Infrastructure Provider

Chapter 6. Blockchain Identity Management Market: Network Estimates & Trend Analysis

6.1. Network Movement Analysis & Market Share, 2022 & 2030

6.2. Blockchain Identity Management Market Estimates & Forecast, By Network

6.2.1. Permissioned

6.2.2. Permissionless

Chapter 7. Blockchain Identity Management Market: Enterprise Size Estimates & Trend Analysis

7.1. Enterprise Size Movement Analysis & Market Share, 2022 & 2030

7.2. Blockchain Identity Management Market Estimates & Forecast, By Enterprise Size

7.2.1. Small & Medium Enterprises

7.2.2. Large Enterprises

Chapter 8. Blockchain Identity Management Market: Vertical Estimates & Trend Analysis

8.1. Vertical Movement Analysis & Market Share, 2022 & 2030

8.2. Blockchain Identity Management Market Estimates & Forecast, By Vertical

8.2.1. BFSI

8.2.2. IT & ITeS

8.2.3. Telecommunications

8.2.4. Government

8.2.5. Healthcare

8.2.6. Retail & E-commerce

8.2.7. Media & Entertainment

8.2.8. Travel & Hospitality

Chapter 9. Blockchain Identity Management Market: Regional Estimates & Trend Analysis

Chapter 10. Competitive Landscape

    --  IBM
    --  Amazon Web Services
    --  Oracle
    --  Microsoft
    --  Dock Labs
    --  NEC
    --  Bitfury Group
    --  Antiersolutions
    --  Wipro
    --  NuID

For more information about this report visit https://www.researchandmarkets.com/r/mdgu4s

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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SOURCE Research and Markets



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