The global blockchain identity management market is estimated at 77.23 million USD in 2021 and reach 2733.60 million USD in 2027, registering a CAGR of 81.20% during the forecast period, 2021-2027. With the growing importance of identity verification during any authentication process, the blockchain identity management market is expected to witness robust growth over the forecast period. The growing need for real-time critical information from organizations, employees, and customers is mainly driving the demand for blockchain identity management in industries like banking, retail, education, and retail. Key challenges associated with blockchain identity include identity theft risks, username and password combinations, Know Your Customer (KYC) integration, and lack of control . It is here that blockchain identity management offers a potential solution to overcome these challenges by providing users with a sense of security that no third party can share their personal identity information (PII) without their consent.

Major factors influencing the Blockchain Identity Management industry over the forecast period

There has been a growing need to establish trust in transactions between the parties involved in recent years. Moreover, the advent of technology brings an equally advanced threat to cybersecurity, which demands efficient and reliable assistance like blockchain identity management. Rising demand for privacy and security solutions among enterprises is likely to supplement market growth till 2025. Blockchain based on cryptographic security ensures the authenticity and security of user data, remaining the main factor market expansion.

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The exponential proliferation of e-commerce is another significant factor that will drive the growth of the blockchain identity management market in the near future. Government initiatives to promote the use of advanced technologies are likely to benefit market performance. A significant increase in the demand for scalability and fast/instant transactions is also expected to create major growth opportunities for players in the blockchain identity management market in the near future. However, lack of awareness about blockchain technology and its benefits as a host will continue to hamper the market growth over the forecast period.

Impact of COVID-19 on the Blockchain Identity Management Market

The COVID-19 outbreak initially led to nationwide shutdowns, which gave rise to the explosive new trend worldwide – working from home/remotely. Hence, there has been a significant spike in the inclination towards the adoption of blockchain technology. It is increasingly preferred as a viable tool for providing identity protection and authentication. Amid the pandemic, blockchain identity management has gained traction among enterprises struggling to overcome their visibility and security challenges. The urgent need to operate along secure supply chains amid the COVID-19 pandemic has further accelerated the growth of the blockchain identity management market. Furthermore, the dramatic expansion of e-commerce coupled with the tremendous digital currency boom has boosted the market growth during the pandemic.

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Report scope

The report depicts the global Blockchain Identity Management market study based on vendor and type.

On the basis of vendor, the blockchain identity management market has been segmented into –

  • Application providers
  • Middleware providers
  • Infrastructure providers

Based on Type, the Blockchain Identity Management Market has been segmented into –

  • BFSI
  • Government
  • Health and life sciences
  • Telecom and IT
  • Retail and e-commerce
  • Transport and logistics
  • Real estate
  • Media and entertainment
  • travel and hospitality
  • Other (automotive, education and energy and utilities)

Blockchain Identity Management Market Regional Outlook

Based on region, the blockchain identity management printing market has been segmented into five geographical regions: North America, Asia-Pacific, Europe, South America, Middle East & Africa. In 2020, North America held the largest global blockchain identity management market share, followed by Asia-Pacific. It is further estimated that North America will dominate the global blockchain identity management market during the forecast period, while Asia-Pacific is expected to project the highest CAGR in the global market during the period forecast.

Key competitors in the Global Blockchain Identity Management Market include

The global blockchain identity management market has a large number of players operating across the globe. Some of the Major Players in the Global Blockchain Identity Management Market are-

  • IBM
  • AWS
  • Civic technologies
  • Bitfury
  • Evernym
  • Netki
  • ShoCard
  • Unique ID
  • Microsoft
  • bit nation
  • Nodal block
  • EdgeSecure
  • Block verification
  • Peer Registry
  • Cambridge Blockchain
  • Neuroware.

The Blockchain Identity Management Market report provides an in-depth analysis of macroeconomic factors and market attractiveness of each segment. The report will include an in-depth qualitative and quantitative assessment of the industry/regional outlook with the presence of market players in the respective segment and region/country. The information concluded in the report includes the entries.

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Blockchain Identity Management Market report covers comprehensive analysis on

  • Market Segmentation and Regional Analysis
  • 10 year market size
  • Price analysis
  • Supply and demand analysis
  • Product life cycle analysis
  • Porter’s Five Forces and Value Chain Analysis
  • Analysis of developed and emerging economies
  • PEST analysis
  • Factor analysis of the market and forecasts
  • Opportunities, risks and market trends
  • Conclusion and recommendation
  • Regulatory landscape
  • Patent Analysis
  • Competition Landscape
  • More than 15 company profiles

Blockchain Identity Management Market Regional Analysis Includes

  • North America (United States, Canada, Mexico)
  • South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
  • Europe (Germany, Italy, France, United Kingdom, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
  • Asia-Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia-Pacific)
  • The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA

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Blockchain Identity Management Market Target Audience

  • Blockchain Identity Management Manufacturers
  • Manufacturers of surgical equipment and blockchain identity management
  • Manufacturers, Distributors and Healthcare Providers
  • Trade publications and magazines
  • Government authorities, associations and organizations