Report Description

Global blockchain identity management market is expected to register a healthy CAGR during the forecast period. Blockchain identity management is a system that uses blockchain technology to securely manage and verify the identities of individuals or organizations. This system provides users with a decentralized, tamper-proof, and transparent way to manage their identities. Traditionally, identity management has been centralized, where a single entity like a government or a corporation manages and verifies identities. However, this approach has several drawbacks, including the potential for data breaches, privacy violations, and identity theft. With blockchain identity management, users can store their identity information in a blockchain network, which is a decentralized and distributed ledger. The blockchain provides a secure and transparent way to store, share, and verify data, without the need for a centralized authority. In this system, users can create their own digital identity, which can include personal information, such as their name, date of birth, and address. This identity is stored on the blockchain and is cryptographically secured, ensuring that it cannot be tampered with. When users need to prove their identity, they can share a digital signature, which is a cryptographic proof that verifies their identity without revealing any personal information. This ensures that users can maintain their privacy while still proving their identity. Overall, blockchain identity management has the potential to revolutionize the way identities are managed and could provide a more secure, transparent, and decentralized approach to identity verification.

Growing Demand for Blockchain Identity Solutions Across Industry Verticals is Fueling the Market Growth

The growing demand for blockchain identity solutions across industry verticals is driving the demand for the global blockchain identity management market. Blockchain-based identity management solutions provide enhanced security and privacy, as they use decentralized, tamper-proof, and cryptographically secure storage and verification mechanisms. This is particularly crucial in industries such as finance and healthcare, where sensitive personal and financial information is involved. Many industries are subject to strict regulatory compliance requirements that mandate secure and reliable identity verification processes. Blockchain identity management solutions can help organizations comply with these regulations while also reducing costs and increasing efficiency. Blockchain identity management solutions are decentralized, meaning they do not rely on a central authority to manage and verify identities. This can help reduce the risk of data breaches and identity theft, as well as promote user autonomy and control over their own data. With the increasing digitization of business processes, there is a growing need for secure and reliable digital identity verification solutions. Blockchain-based identity management solutions can provide a seamless and secure way to verify digital identities and facilitate digital transactions. Overall, the demand for blockchain identity management solutions is being driven by the need for enhanced security, privacy, regulatory compliance, and digital transformation across a range of industries.

Increasing Demand for Self-Sovereign Identification Driving the Demand For Blockchain Identity Management Market

The increasing demand for self-sovereign identification (SSI) is driving the demand for the global blockchain identity management market. SSI is a concept that refers to individuals and organizations having complete control over their own digital identity without relying on centralized authorities, such as governments or corporations, to manage their identity. Blockchain technology is particularly well-suited for SSI, as it enables the creation of decentralized and self-sovereign identity systems that provide enhanced security, privacy, and control to users. Some of the key drivers for the increasing demand for SSI and blockchain identity management solutions include privacy and security with the increasing threat of data breaches and identity theft. SSI solutions based on blockchain technology provide enhanced security and privacy, as they use cryptographic protocols to ensure that user data is tamper-proof and cannot be accessed without permission. SSI solutions based on blockchain technology are decentralized, meaning that they do not rely on a central authority to manage and verify identities. This gives users greater control over their own identity, as they can decide who has access to their data and how it is used. SSI solutions based on blockchain technology can help organizations comply with regulations that mandate secure and reliable identity verification processes. This is particularly relevant in industries such as finance and healthcare, where sensitive personal and financial information is involved. The increasing digitization of business processes and the rise of the Internet of Things (IoT) is driving the need for secure and reliable digital identity verification solutions. SSI solutions based on blockchain technology can provide a seamless and secure way to verify digital identities and facilitate digital transactions. Overall, the increasing demand for SSI is driving the demand for blockchain identity management solutions, as they provide a decentralized and secure way for individuals and organizations to manage and verify their digital identities.

Uncertain Regulatory Status and Lack of a common Set of Standards Hinder the Growth of Global Blockchain Identity Management Market

The uncertain regulatory status and lack of a common set of standards are some of the key challenges facing the global blockchain identity management market. The regulatory landscape for blockchain identity management is still evolving, and there is currently no clear and consistent regulatory framework governing these solutions. This can make it difficult for organizations to understand and comply with relevant regulations and can also create uncertainty and risk for investors. The lack of a common set of standards for blockchain identity management can hinder interoperability between different systems and platforms. This can make it difficult for users to move their identity data between different systems and can also limit the potential benefits of these solutions. The lack of a common set of standards and the proliferation of different blockchain identity management solutions can lead to fragmentation in the market. This can make it difficult for users and organizations to choose between different solutions and can also limit the potential benefits of these solutions. The uncertain regulatory status, lack of interoperability, and fragmentation in the market can all contribute to adoption challenges for blockchain identity management solutions. Organizations may be hesitant to invest in these solutions if they are unsure of the regulatory landscape or if they are concerned about the potential costs and risks associated with implementation.

Overall, while blockchain identity management solutions offer many potential benefits, the uncertain regulatory status and lack of a common set of standards are significant challenges that must be addressed for these solutions to reach their full potential.


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Recent developments

  • With the aid of an advanced and cutting-edge supply chain management solution, IBM unveiled a new initiative in 2020 to address the problem of medical equipment shortage. Blockchain-based network created by IBM Rapid Supplier Connect was just launched, supporting healthcare organizations. Government agencies use blockchain identity management solutions to find new non-traditional providers for verification.

Market Segmentation

Based on Component, the market is segmented into Platform and Services. Based on Organization Size, the market is segmented into Large Organization, and Small & Medium-Sized Organization. Based on Application, the market is further segmented into Loyalty and Rewards Management, Identity Management, Supply Chain Management, Payments and Smart Contracts, Compliance Management, Others. Based on vertical, the market is further split into 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.

Company Profiles

Amazon Web Services Inc, Bitfury Group Limited, Civic Technologies Inc, EVERNYM Inc, International Business Machines Corporation, Netki Inc, Tracxn Technologies Limited, Bitnation.co, Microsoft Corporation, Oracle Corporation, are among the major players that are driving the growth of the Global Blockchain Identity Management Market.

Attribute

Details

Base Year

2022

Historical Years

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Billion and CAGR for 2018-2022 and 2023E-2028F

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

Component

Organization Size

Application

Vertical

Region

Regional Scope

Asia-Pacific, North America, Europe, Middle East & Africa, and South America

Country Scope

China, Japan, India, Australia, South Korea, United States, Canada, Mexico, United Kingdom, Germany, France, Spain, Italy, Israel, Turkey, Saudi Arabia, UAE, Brazil, Argentina, Colombia

Key Companies Profiled

Amazon Web Services, Inc, Bitfury Group Limited, Civic Technologies, Inc, EVERNYM Inc, International Business Machines Corporation, Netki Inc, Tracxn Technologies Limited, Bitnation.co, Microsoft Corporation, Oracle Corporation

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail of customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)


Report Scope:

In this report, the Global Blockchain Identity Management Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Blockchain Identity Management Market, By Component:
    • Platform
    • Services
  • Blockchain Identity Management Market, By Organization Size:
    • Large Organizations
    • Small and Medium Organizations
  • Blockchain Identity Management Market, By Application:
    • Loyalty and Rewards Management
    • Identity Management
    • Supply Chain Management
    • Payments and Smart Contracts
    • Compliance Management
    • Others
  • Blockchain Identity Management Market, By Vertical:
    • 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
  • Blockchain Identity Management Market, By Region:
    • Asia-Pacific
      • China
      • Japan
      • India
      • Australia
      • South Korea
    • North America
      • United States
      • Canada
      • Mexico
    • Europe
      • United Kingdom
      • Germany
      • France
      • Spain
      • Italy
    • Middle East & Africa
      • Israel
      • Turkey
      • Saudi Arabia
      • UAE
    • South America
      • Brazil
      • Argentina
      • Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Blockchain Identity Management Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Blockchain Identity Management Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Service Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.    Markets Covered

1.2.2.    Years Considered for Study

1.2.3.    Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

4.    Voice of Customer

4.1.  Brand Awareness

4.2.  Key Factors for Selecting Service Provider

4.3.  Key Satisfaction Level

4.4.  Key Challenges Faced

5.    Global Blockchain Identity Management Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.  Market Share & Forecast

5.2.1.    By Component (Platform and Services)

5.2.2.    By Organization Size (Large Organizations and Small & Medium Organizations)

5.2.3.    By Application (Loyalty and Rewards Management, Identity Management, Supply Chain Management, Payments and Smart Contracts, Compliance Management, Others)

5.2.4.    By Vertical (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)

5.2.5.    By Region

5.3.  By Company (2022)

5.4.  Market Map

5.4.1.    By Component

5.4.2.    By Organization Size

5.4.3.    By Application

5.4.4.    By Vertical

5.4.5.    By Region

6.    North America Blockchain Identity Management Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Component

6.2.2.    By Organization Size

6.2.3.    By Application

6.2.4.    By Vertical

6.2.5.    By Country

6.3.  North America: Country Analysis

6.3.1.    United States Blockchain Identity Management Market Outlook

6.3.1.1.        Market Size & Forecast

6.3.1.1.1.           By Value 

6.3.1.2.        Market Share & Forecast

6.3.1.2.1.           By Component

6.3.1.2.2.           By Organization Size

6.3.1.2.3.           By Application

6.3.1.2.4.           By Vertical

6.3.2.    Canada Blockchain Identity Management Market Outlook

6.3.2.1.        Market Size & Forecast

6.3.2.1.1.           By Value 

6.3.2.2.        Market Share & Forecast

6.3.2.2.1.           By Component

6.3.2.2.2.           By Organization Size

6.3.2.2.3.           By Application

6.3.2.2.4.           By Vertical

6.3.3.    Mexico Blockchain Identity Management Market Outlook

6.3.3.1.        Market Size & Forecast

6.3.3.1.1.           By Value 

6.3.3.2.        Market Share & Forecast

6.3.3.2.1.           By Component

6.3.3.2.2.           By Organization Size

6.3.3.2.3.           By Application

6.3.3.2.4.           By Vertical

7.    Asia-Pacific Blockchain Identity Management Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Component

7.2.2.    By Organization Size

7.2.3.    By Application

7.2.4.    By Vertical

7.2.5.    By Country

7.3.  Asia-Pacific: Country Analysis

7.3.1.    China Blockchain Identity Management Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value 

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By Component

7.3.1.2.2.           By Organization Size

7.3.1.2.3.           By Application

7.3.1.2.4.           By Vertical

7.3.2.    Japan Blockchain Identity Management Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.           By Value 

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.           By Component

7.3.2.2.2.           By Organization Size

7.3.2.2.3.           By Application

7.3.2.2.4.           By Vertical

7.3.3.    South Korea Blockchain Identity Management Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.           By Value 

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.           By Component

7.3.3.2.2.           By Organization Size

7.3.3.2.3.           By Application

7.3.3.2.4.           By Vertical

7.3.4.    India Blockchain Identity Management Market Outlook

7.3.4.1.        Market Size & Forecast

7.3.4.1.1.           By Value 

7.3.4.2.        Market Share & Forecast

7.3.4.2.1.           By Component

7.3.4.2.2.           By Organization Size

7.3.4.2.3.           By Application

7.3.4.2.4.           By Vertical

7.3.5.    Australia Blockchain Identity Management Market Outlook

7.3.5.1.        Market Size & Forecast

7.3.5.1.1.           By Value 

7.3.5.2.        Market Share & Forecast

7.3.5.2.1.           By Component

7.3.5.2.2.           By Organization Size

7.3.5.2.3.           By Application

7.3.5.2.4.           By Vertical

8.    Europe Blockchain Identity Management Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Component

8.2.2.    By Organization Size

8.2.3.    By Application

8.2.4.    By Vertical

8.2.5.    By Country

8.3.  Europe: Country Analysis

8.3.1.    Germany Blockchain Identity Management Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value 

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Component

8.3.1.2.2.           By Organization Size

8.3.1.2.3.           By Application

8.3.1.2.4.           By Vertical

8.3.2.    United Kingdom Blockchain Identity Management Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value 

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Component

8.3.2.2.2.           By Organization Size

8.3.2.2.3.           By Application

8.3.2.2.4.           By Vertical

8.3.3.    France Blockchain Identity Management Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value 

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Component

8.3.3.2.2.           By Organization Size

8.3.3.2.3.           By Application

8.3.3.2.4.           By Vertical

8.3.4.    Italy Blockchain Identity Management Market Outlook

8.3.4.1.        Market Size & Forecast

8.3.4.1.1.           By Value 

8.3.4.2.        Market Share & Forecast

8.3.4.2.1.           By Component

8.3.4.2.2.           By Organization Size

8.3.4.2.3.           By Application

8.3.4.2.4.           By Vertical

8.3.5.    Spain Blockchain Identity Management Market Outlook

8.3.5.1.        Market Size & Forecast

8.3.5.1.1.           By Value 

8.3.5.2.        Market Share & Forecast

8.3.5.2.1.           By Component

8.3.5.2.2.           By Organization Size

8.3.5.2.3.           By Application

8.3.5.2.4.           By Vertical

9.    South America Blockchain Identity Management Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Component

9.2.2.    By Organization Size

9.2.3.    By Application

9.2.4.    By Vertical

9.2.5.    By Country

9.3.  South America: Country Analysis

9.3.1.    Brazil Blockchain Identity Management Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.           By Value 

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By Component

9.3.1.2.2.           By Organization Size

9.3.1.2.3.           By Application

9.3.1.2.4.           By Vertical

9.3.2.    Argentina Blockchain Identity Management Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value 

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By Component

9.3.2.2.2.           By Organization Size

9.3.2.2.3.           By Application

9.3.2.2.4.           By Vertical

9.3.3.    Colombia Blockchain Identity Management Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.           By Value 

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.           By Component

9.3.3.2.2.           By Organization Size

9.3.3.2.3.           By Application

9.3.3.2.4.           By Vertical

10. Middle East & Africa Blockchain Identity Management Market Outlook

10.1.             Market Size & Forecast

10.1.1. By Value

10.2.             Market Share & Forecast

10.2.1. By Component

10.2.2. By Organization Size

10.2.3. By Application

10.2.4. By Vertical

10.2.5. By Country

10.3.             Middle East & Africa: Country Analysis

10.3.1. Israel Blockchain Identity Management Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value 

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Component

10.3.1.2.2.         By Organization Size

10.3.1.2.3.         By Application

10.3.1.2.4.         By Vertical

10.3.2. Turkey Blockchain Identity Management Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value 

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Component

10.3.2.2.2.         By Organization Size

10.3.2.2.3.         By Application

10.3.2.2.4.         By Vertical

10.3.3. UAE Blockchain Identity Management Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value 

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By Component

10.3.3.2.2.         By Organization Size

10.3.3.2.3.         By Application

10.3.3.2.4.         By Vertical

10.3.4. Saudi Arabia Blockchain Identity Management Market Outlook

10.3.4.1.     Market Size & Forecast

10.3.4.1.1.         By Value 

10.3.4.2.     Market Share & Forecast

10.3.4.2.1.         By Component

10.3.4.2.2.         By Organization Size

10.3.4.2.3.         By Application

10.3.4.2.4.         By Vertical

11. Market Dynamics

11.1.             Drivers

11.1.1. Rising security concerns across the globe with the traditional identity management models

11.1.2. Growing demand for blockchain identity solutions across industry verticals

11.1.3. Increasing demand for self-sovereign identification

11.2.             Challenges

11.2.1. Concerns related to the authenticity of users

11.2.2. Uncertain regulatory status and lack of a common set of standards

12. Market Trends & Developments

12.1.         Surge in the usage of industry 4.0 technologies

12.2.         Extensive applications of blockchain identity solutions in banking, cybersecurity, and IOT

12.3.         Increasing favorable government initiatives

12.4.         Growing usage of augmented and virtual reality

12.5.             Easing business functions through high transaction speed and immutability

13. Company Profiles

13.1.                Amazon Web Services, Inc.

13.1.1.    Business Overview

13.1.2.    Key Revenue (If Available)

13.1.3.    Recent Developments

13.1.4.    Key Personnel

13.1.5.    Key Product/Service Offered

13.2.                Bitfury Group Limited

13.2.1.    Business Overview

13.2.2.    Key Revenue (If Available)

13.2.3.    Recent Developments

13.2.4.    Key Personnel

13.2.5.    Key Product/Service Offered

13.3.                Civic Technologies, Inc

13.3.1.    Business Overview

13.3.2.    Key Revenue (If Available)

13.3.3.    Recent Developments

13.3.4.    Key Personnel

13.3.5.    Key Product/Service Offered

13.4.                EVERNYM Inc

13.4.1.    Business Overview

13.4.2.    Key Revenue (If Available)

13.4.3.    Recent Developments

13.4.4.    Key Personnel

13.4.5.    Key Product/Service Offered

13.5.                International Business Machines Corporation

13.5.1.    Business Overview

13.5.2.    Key Revenue (If Available)

13.5.3.    Recent Developments

13.5.4.    Key Personnel

13.5.5.    Key Product/Service Offered

13.6.                Netki Inc

13.6.1.    Business Overview

13.6.2.    Key Revenue (If Available)

13.6.3.    Recent Developments

13.6.4.    Key Personnel

13.6.5.    Key Product/Service Offered

13.7.                Tracxn Technologies Limited

13.7.1.    Business Overview

13.7.2.    Key Revenue (If Available)

13.7.3.    Recent Developments

13.7.4.    Key Personnel

13.7.5.    Key Product/Service Offered

13.8.                Bitnation.co

13.8.1.    Business Overview

13.8.2.    Key Revenue (If Available)

13.8.3.    Recent Developments

13.8.4.    Key Personnel

13.8.5.    Key Product/Service Offered

13.9.                Microsoft Corporation

13.9.1.    Business Overview

13.9.2.    Key Revenue (If Available)

13.9.3.    Recent Developments

13.9.4.    Key Personnel

13.9.5.    Key Product/Service Offered

13.10.             Oracle Corporation

13.10.1. Business Overview

13.10.2. Key Revenue (If Available)

13.10.3. Recent Developments

13.10.4. Key Personnel

13.10.5. Key Product/Service Offered

14. Strategic Recommendations

14.1.         Fastest Growing Market by Component

14.2.         Dominating Market by Vertical

14.3.         Dominating Market by Region & Country

15. About Us & Disclaimer

(Note: The companies list can be customized based on the client requirements.)

Figures and Tables

Frequently asked questions

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Key players in the Global Blockchain Identity Management Market are Amazon Web Services, Inc, Bitfury Group Limited, Civic Technologies, Inc, EVERNYM Inc, International Business Machines Corporation, Netki Inc, Tracxn Technologies Limited, Bitnation.co, Microsoft Corporation, Oracle Corporation

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Blockchain identity management can help various industries to secure and streamline customer onboarding processes and reduce the risk of fraud. For instance, banks and financial institutions to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.

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Various challenges such as uncertain regulatory status and lack of a common set of standards hinder the growth of Global Blockchain Identity Management Market .

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Rising security concerns across the globe with the traditional identity management models, growing demand for blockchain identity solutions across industry verticals and increasing demand for self-sovereign identification are driving the Global Blockchain Identity Management Market during the forecast period.

profile

Sakshi Bajaal

Business Consultant
Press Release

Blockchain Identity Management Market to be Dominated by BFSI Segment Through 2028

Jul, 2023

Increasing demand for self-sovereign identification is driving the demand for global blockchain identity management market.