Blockchain Identity Management Market Size to Reach USD 12283.27 Million by 2028 – IMR

Market overview:

The global Blockchain Identity Management market was valued at USD 233.79 million in 2021 and is expected to reach USD 12283.27 million by the year 2028, with a CAGR of 76.11%

The management service known as blockchain technology helps in the development of platforms for the prevention of identity theft and other fraudulent activities. Each record that is comprehensively stored and recorded in the data for all transactions and cannot be changed once verified and secured is referred to as a “Block”. In addition, Blockchain Identity Management simplifies the creation of several alternative usernames and passwords for the individual, while providing secure data and time- and resource-saving functions. The important driving elements of the Blockchain personalty The leaders market the rising false exercises in large worldwide businesses and the increase in expanding the safety of singular information.

Top Key Players Covered in Blockchain Identity Management Market:

• IBM (USA)
• Microsoft (USA)
• Amazon Web Services (USA)
• Civic Technologies (USA)
• KYC Chain (China)
• Bitfury (Netherlands)
• Evernym (USA)
• Factom (USA)
• Netki (USA)
• ShoCard (USA)
• UniquID (Switzerland)
• Microsoft (USA)
• Oracle (USA)
• Bitnation (USA)
• Nodal block (Spain)
• Edge Secure (USA)
• Blockverify (UK)
• Peer Ledger (Canada)
• Cambridge Blockchain (USA)
• uPort (Switzerland) and other major players

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Market dynamics and factors:

Increasing fraud activities in large multinational companies are driving the Blockchain Identity Management market. Increasing fraud activities in large multinational companies has been a significant driver for the Blockchain Identity Management market. Identity fraud has become a widespread problem in the corporate world, with malicious actors stealing identities and credentials to gain unauthorized access to sensitive data and systems. Traditional methods of identity management, such as usernames and passwords, have proven insufficient to prevent this type of attack

Increasing digitization of commercial development is expected to drive the Blockchain Identity Management market. As companies increasingly rely on digital processes and technologies, the need for secure and efficient solutions for identity management becomes paramount. Blockchain technology offers a solution to this problem by providing a secure and decentralized way to manage digital identities. By using blockchain-based identity management systems, companies can create tamper-proof digital identities for employees, customers and partners. The adoption of blockchain technology in identity management systems can enable the creation of digital identities that are independent of any centralized authority

Blockchain Identity Management Market Report Highlights:

• By type, the Permissioned segment is expected to lead the growth of the Blockchain Identity Management market in the forecast timeframe. This approach is preferred by organizations as it provides a higher level of security and control over the network, and enables easier compliance with regulatory requirements.
• By provider type, the Infrastructure Providers segment is expected to hold the highest share of the Blockchain Identity Management market over the forecast period. The growing necessity to scale an organization’s infrastructure in a secure and long-term manner is most responsible for this segment’s development.
• Of the Industry Verticals, the BFSI segment is set to develop at the highest CAGR during the forecast timeframe. Blockchain Identity Management is widely used in insurance, banking, financial services and other industries to provide an extra level of security for their customers.
• The North American region is expected to hold the highest share of the Blockchain Identity Management market during the forecast period. The presence of prominent key players, as well as an increase in technological advancement, are the main factors driving the development of the market in this region.

Important industrial developments:

In 2019, IBM introduced its latest product line for the Internet of Things solution, which included AI and advanced analytics for organizations.

In 2018, Civic Technologies, a blockchain identity management company, introduced Civic Connect, an app-to-app integration that enables smartphones to create a secure login and has a reusable KYC structure.

Blockchain Identity Management Market Segmentation:

By type

• Permission
• Unauthorized

By supplier type

• Application provider
• Middleware providers
• Infrastructure providers

By industry verticals

• BFSI
• IT and telecom
• Public sector
• Property
• Retail and e-commerce
• Transportation and logistics
• Media and entertainment
• Health and life sciences
• Others

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For this report, Introspective Market Research has segmented the Blockchain Identity Management market based on region:

Regional Outlook (Revenue in Millions of Dollars; Volume in Units, 2022-2028)

North America

Europe

• Germany
• Great Britain
• France
• Italy
• Russia
• Spain
• The rest of Europe

Asia Pacific

• China
• India
• Japan
• Singapore
• Australia
• New Zealand
• Rest of APAC

Middle East and Africa

• Turkey
• Saudi Arabia
• Qatar
• UAE
• Israel
• South Africa

South America

• Brazil
• Argentina
• The rest of SA

Scope of the report:

The latest research on the Blockchain Identity Management market provides a comprehensive overview of the market for the years 2022 to 2028. It provides a comprehensive picture of the global Blockchain Identity Management industry, taking into account all the important industry trends, market dynamics, competitive landscape and market analysis tools such as Porter’s five forces analysis, industry value chain analysis and PESTEL analysis of the Blockchain Identity Management market. The report further includes important chapters such as patent analysis, regulatory framework, technology roadmap, BCG matrix, heat map analysis, price trend analysis and investment analysis which help in understanding the market direction and movement in the current and upcoming years. The report is designed to help readers find information and make decisions that will help them grow their business. The study is written with a specific goal in mind to provide business insight and advice to help clients make smart business decisions and achieve long-term success in their particular market areas.

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Introspective Market Research (introspectivemarketresearch.com) is a visionary research consulting firm dedicated to helping our clients grow and successfully impact the market. Our team at IMR is ready to help our clients flourish their business by offering strategies to achieve success and monopoly in their respective fields. We are a global market research company, specialized in using big data and advanced analytics to show the bigger picture of market trends. We help our customers to think differently and build a better tomorrow for us all. We are a technology-driven research company, we analyze extremely large sets of data to discover deeper insights and provide decisive advice. We not only offer intelligence solutions, but we help our customers with how they can achieve their goals.

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