Blockchain Identity Management Market to Touch USD 36,591.4 Mn by 2028, at a CAGR of 84% | IMARC Group – Cognizant Tech Solns (NASDAQ:CTSH), Amazon.com (NASDAQ:AMZN)

The global blockchain identity management market size reached USD 797.7 million in 2022. Looking ahead, IMARC Group expects the market to reach USD 36,591.4 million by 2028, with a CAGR of 84% during 2023 -2028.

Global blockchain identity management market size reached USD 797.7 million in 2022. Looking ahead, IMARC Group expects the market to reach a value of USD 36,591.4 million by 2028, showing a CAGR of 84% during 2023-2028.

What is Blockchain Identity Management?

Blockchain identity management represents the process of providing a decentralized and secure solution that offers real-time information about an entity or an individual via a distributed trust paradigm. It enables Decentralized Public Key Infrastructure (DPKI), which constructs a tamper-proof and reliable medium to distribute the asymmetric verification and encryption keys to the individuality holders. Blockchain identity management simplifies user processes by reducing the time and manual effort involved in issuing identities. In addition, this method ensures the reliability, security and authenticity of the data of users with its cryptographic security. As a result, blockchain identity management is finding widespread applications across various sectors, such as government, healthcare, banking, financial services and insurance (BFSI), transportation, retail, automotive, information and technology (IT), and telecom.

What are the key factors driving the global Blockchain Identity Management market?

The increasing cyber-attacks and data breaches to steal confidential data from private companies and public organizations worldwide and the growing demand for this solution in multiple institutions to help comply with regulations and keep track of employee activities are among the key factors driving the blockchain market for identity management.

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In addition to this, the increasing demand for self-superior branding technology in various industries to store minimum personal information of users, while improving the efficiency of several processes, further increases the market growth. Moreover, the growing use of blockchain identity management to build trust and transaction transparency between two or more businesses to ensure the authenticity of information is catalyzing the global market. Apart from this, the launch of favorable policies by government bodies to promote the use of this technique for improved scalability and transaction speed is expected to drive the blockchain identity management market during the forecast period.

Blockchain Identity Management Market Report Segmentation:

The report has segmented the market into the following categories:

Breakdown by component:

Breakdown by supplier:

• Application providers
• Middleware providers
• Infrastructure providers

Breakdown by organization size:

• Large companies
• Small and medium-sized enterprises (SMBs)

Breakdown by industry vertical:

• BFSI
• The authorities
• Health and life sciences
• Telecom and IT
• Retail and e-commerce
• Transportation and logistics
• Property
• Media and entertainment
• Travel and hospitality

Competitive Scenario with Key Players:

• Amazon Web Services Inc. (Amazon.com Inc.)AMZN
• Bitfury Group Limited
• Blockchains Inc.
• Civic Technologies Inc.
• AcknowledgingCTSH
• Evernym Inc. (Avast Software s.r.o.)
• Infosys LimitedINFY
• International Business Machines CorporationIBM
• Microsoft Corporation MSFT
• Oracle Corporation ORCL
• and Tata Consultancy Services Limited (Tata Group).TCS

Click here to see detailed information with table of contents: https://www.imarcgroup.com/blockchain-supply-chain-market

Main highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023–2028)
• Porter’s five forces analysis
• Market drivers and success factors
• SWOT analysis
• Value chain
• Comprehensive mapping of the competitive landscape

If you require specific information that is not currently within the scope of the report, we can provide it to you as part of the customization.

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By geography:

• North America (USA, Canada)
• Europe (Germany, France, UK, Italy, Spain, others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, others)
• Latin America (Brazil, Mexico, others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, others)

About us:

IMARC Group is a leading market research company providing management strategy and market research worldwide. We work with clients across all sectors and regions to identify their most valuable opportunities, address their most critical challenges and transform their business.

IMARC’s information products include major market, scientific, financial, and technological developments for business leaders in pharmaceutical, industrial, and high-tech organizations. Market forecasting and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and new processing methods are at the top of the company’s expertise.

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