Dublin, Sept. 20, 2022 (GLOBE NEWSWIRE) — The report “Blockchain Identity Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” has been added to from ResearchAndMarkets.com offer.
The global blockchain identity management market reached a value of US$420.74 million in 2021. Looking ahead, the publisher expects the market to reach a value of US$19,800.45 million. US dollars by 2027, growing at a CAGR of 90.01% in 2021-2027. Keeping in mind the uncertainties of COVID-19, we continuously monitor and assess the direct and indirect influence of the pandemic on the various end-use industries. This information is included in the report as a major market contributor.
Blockchain identity management is a process of providing a decentralized and secure solution that offers real-time information about a person or entity through a distributed trust paradigm. It enables a decentralized public key infrastructure (DPKI), which creates a tamper-proof and reliable medium for distributing identity holders’ asymmetric verification and encryption keys. It simplifies processes for users by reducing the time and manual effort required to issue identities. Apart from that, it ensures safety, reliability and authenticity of user data with its cryptographic security. As a result, it finds wide applications in banking, financial services and insurance (BFSI), government, healthcare, automotive, transportation, retail, information and technology (IT) and telecommunications.
Blockchain Identity Management Market Trends:
Currently, there is an increase in cyberattacks and data breaches to steal confidential data from private companies and government organizations across the world. This, along with the growing demand for effective identity management models in various organizations to help with regulatory compliance and track employee activities, represents one of the major factors driving the market. Additionally, the growing demand for self-contained identification technology across various industries to store minimal user personal data while increasing the efficiency of the identification process is propelling the growth of the market.
Also, the increasing use of blockchain identity management to build trust and transparency in transactions between two or more companies to ensure data authenticity is positively influencing the market. Additionally, governments in several countries are taking initiatives to promote the use of blockchain identity management for improved scalability and transaction speed. Other growth factors are the increasing sales of smartphones, especially in developing economies, and the increasing proliferation of the Internet around the world.
Key market segmentation
Breakdown by component:
Breakdown by supplier:
- Application providers
- Middleware providers
- Infrastructure providers
Breakdown by organization size:
- Large companies
- Small and medium-sized enterprises (SMEs)
Breakdown by vertical industry:
- Health and life sciences
- Telecom and IT
- Retail and e-commerce
- Transport and logistics
- Media and Entertainment
- travel and hospitality
Breakdown by region:
- North America
- United States
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
Main topics covered:
2 Scope and methodology
3 Executive summary
5 Global Blockchain Identity Management Market
6 Market Breakdown by Component
7 Market Breakdown by Vendor
8 Market Breakdown by Organization Size
9 Market Breakdown by Industry Vertical
10 Market Breakdown by Region
11 SWOT Analysis
12 Value chain analysis
13 Analysis of the five forces of carriers
14 Price Analysis
15 Competitive landscape
- Amazon Web Services Inc. (Amazon.com Inc.)
- Limited Bitfury Group
- Blockchain Inc.
- Civic Technologies Inc.
- Evernym Inc. (Avast Software sro)
- infosys limited
- International Commercial Machinery Society
- Microsoft Corporation
- Oracle Corporation
- Tata Consultancy Services Limited (Tata Group).
For more information about this report visit https://www.researchandmarkets.com/r/ht1kmt
Global Blockchain Identity Management Market