Blockchain Identity Management Market, By Type (BFSI, Government, Healthcare and Life Sciences, Telecom and IT, Retail and e-Commerce, Transport and Logistics, Real Estate, Media and Entertainment, Travel and Hospitality, Others), By Provider (Application Providers, Middleware Providers, Infrastructure Providers), By Region – Global Analysis Forecast Till 2030

The Global Blockchain Identity Management market is estimated to grow at a CAGR of 77.56% and is poised to reach US$ 11220.67 million by 2030.

A blockchain-based digital verification and authentication method makes up the Blockchain Identity Management Market solution. This tool stores and encrypts data using cryptography on the user's mobile device. This blockchain technology stores and connects data blocks utilizing cryptography through virtual networks. Each information block includes a precise and comprehensive record of each transaction that hasn't been altered after verification.

There are two different kinds of blockchain technology: private and public. A public blockchain allows participation from computers linked to the same network and computers connected to the public internet. The private blockchain, however, restricts network membership to known devices. To use a private blockchain, participants' identities must be verified.

Market Dynamics:

Drivers:

Using blockchain identity management technology, users may be verified and integrated with accuracy. Growing security concerns and self-sovereign identity are the driving forces behind the current approaches. Adopting blockchain technology for identity management can streamline the KYC procedures for BFSI firms while offering robust protection for the user's private data. The market is predicted to develop faster as E-commerce becomes more widespread.

Growing organizational need for privacy and security solutions could fuel market expansion. Furthermore, by implementing blockchain identity management, consumers may take back control of their data and consolidate it. These elements could boost market demand and speed up blockchain identity management market.

Restraints:

The lack of a uniform set of regulatory norms, an ambiguous regulatory environment, and user authenticity problems limit blockchain identity management market expansion.

Key players:

• IBM

• AWS

• Civic Technologies

• Bitfury

• Evernym

• Netki

• ShoCard

• UniquID

• Microsoft

• Bitnation

• Nodalblock

• EdgeSecure

• Blockverify

• Peer Ledger

• Cambridge Blockchain

• Neuroware

• Other Prominent Players

Market Segmentation:

By Provider

• Application Providers

• Middleware Providers

• Infrastructure Providers

By Type

BFSI

• Government

• Healthcare and Life Sciences

• Telecom and IT

• Retail and e-Commerce

• Transport and Logistics

• Real Estate

• Media and Entertainment

• Travel and Hospitality

• Others

By region:

• North America

  • US

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Rest of Europe

• APAC

  • China

  • Japan

  • ANZ

  • Rest of APAC

• MEA

  • KSA

  • UAE

  • Rest of MEA

• Latin America

  • Mexico

  • Brazil

  • Rest of Latin America

Regional Analysis:

Globally, there are four key geographic regions that make up the blockchain identity management market: North America, Asia Pacific, Europe and the rest of the world. Among these areas, North America has the biggest market share because of its highly developed infrastructure and technological advancements. The main driving force in this area is the existence of strong industry blockchain identity management market key players who provide blockchain identity management solutions. The US government made the decision to provide public services in order to recognize the potential of this technology and to create corporate applications.

Additionally, the Canadian federal government began investigating blockchain technology to support market expansion for the country's economy. Asia-Pacific is anticipated to lead the market during the assessment period as a result of the rise in venture capital financing, numerous startups, and the growing government's strict focus on regulating blockchain technology management.

Scope of the Report:

User

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