Global Self-Sovereign Identity Market Size study, by Offering, by Identity Type, by Network, by Organization Size, by Vertical and Regional Forecasts 2022-2032

Description

The Global Self-Sovereign Identity (SSI) Market is valued at approximately USD 1.92 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 90.62% over the forecast period 2024-2032. The increasing prevalence of identity theft is compelling organizations to adopt self-sovereign identity (SSI) solutions for more robust authentication and identity protection, which are expected to be significant market drivers for the Self-Sovereign Identity (SSI) Market. SSI represents a revolutionary shift towards user-controlled digital identities, providing a decentralized approach to identity management that enhances security and privacy. Furthermore, collaborations between startups and academic institutions are addressing data privacy and security concerns, fostering technological advancements, and promoting a more inclusive approach to identity management. This trend is anticipated to drive demand for SSI solutions throughout the projection period.

The exponential growth of small and medium-sized enterprises (SMEs) and the increasing recognition of blockchain technology's potential are driving market growth. SMEs are spearheading SSI initiatives through innovative technologies and strategic partnerships, thereby transforming digital identity solutions. For instance, the Udyam Assist Platform (UAP) in India has registered over 400 million MSMEs, highlighting the sector's ongoing expansion and its impact on digital identity management. Moreover, the shift towards blockchain and decentralized systems underscores the demand for SSI platforms, providing improved security and empowering users with greater control over their data. This alignment marks a significant shift towards more robust, transparent, and user-centered identity management frameworks. The increasing adoption of SSI by SMEs and the strategic emphasis on blockchain technology are expected to propel the market's revenue growth significantly.

The key regions in the Global Self-Sovereign Identity (SSI) Market includes North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2023, North America is anticipated to dominate the SSI market due to high digital literacy and the increasing demand for secure identity solutions. The region's leadership is driven by high demand for precision and safety in surgical procedures, coupled with stringent regulatory standards ensuring product quality. Strong research and development capabilities, alongside the presence of leading medical device manufacturers, further bolster market growth. Additionally, the increasing prevalence of chronic diseases and a growing focus on infection control contribute to North America's significant share in the SSI market, positioning it as a key player in the industry. Europe follows closely, with businesses and governments actively engaged in digital transformation efforts that include upgrading identity management systems. Furthermore, the Asia-Pacific region is expected to grow at the fastest CAGR, driven by rapid technology adoption and government initiatives promoting digitalization.

The key players in the Self-Sovereign Identity (SSI) Market include:

Microsoft
Ping Identity
IDEX Biometrics
NEC
Imageware
Dock
Metadium
Blockchain Helix
Validated ID
Wipro

The detailed segments and sub-segment of the market are explained below:

By Offering:

Solutions
Services

By Identity Type:

Non-Biometrics
Biometrics

By Network:

Permissioned
Permissionless

By Organization Size:

SMEs
Large Enterprises

By Vertical:

BFSI
IT and ITeS
Telecom
Government
Real Estate & Construction
Healthcare
Retail and E-Commerce
Media & Entertainment
Travel & Hospitality
Other Verticals

By Region:

North America:

U.S.
Canada

Europe:

UK
Germany
France
Spain
Italy
ROE

Asia Pacific:

China
India
Japan
Australia
South Korea
RoAPAC

Latin America:

Brazil
Mexico
Rest of Latin America

Middle East & Africa:

Saudi Arabia
South Africa
RoMEA

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

Chapter 1. Global Self-Sovereign Identity (SSI) Market Executive Summary

1.1. Global Self-Sovereign Identity (SSI) Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Offering
- 1.3.2. By Identity Type
- 1.3.3. By Network
- 1.3.4. By Organization Size
- 1.3.5. By Vertical
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Self-Sovereign Identity (SSI) Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Self-Sovereign Identity (SSI) Market Dynamics

3.1. Market Drivers
- 3.1.1. Increasing Prevalence of Identity Theft
- 3.1.2. Exponential Growth of SMEs
- 3.1.3. Recognition of Blockchain Technology's Potential
3.2. Market Challenges
- 3.2.1. Implementation Challenges
- 3.2.2. Compliance with Changing Standards
3.3. Market Opportunities
- 3.3.1. Technological Advancements
- 3.3.2. Strategic Collaborations
- 3.3.3. Government Incentives

Chapter 4. Global Self-Sovereign Identity (SSI) Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Self-Sovereign Identity (SSI) Market Size & Forecasts by Offering 2022-2032

5.1. Segment Dashboard
5.2. Global Self-Sovereign Identity (SSI) Market: Offering Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Solutions
- 5.2.2. Services

Chapter 6. Global Self-Sovereign Identity (SSI) Market Size & Forecasts by Identity Type 2022-2032

6.1. Segment Dashboard
6.2. Global Self-Sovereign Identity (SSI) Market: Identity Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Non-Biometrics
- 6.2.2. Biometrics

Chapter 7. Global Self-Sovereign Identity (SSI) Market Size & Forecasts by Network 2022-2032

7.1. Segment Dashboard
7.2. Global Self-Sovereign Identity (SSI) Market: Network Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. Permissioned
- 7.2.2. Permissionless

Chapter 8. Global Self-Sovereign Identity (SSI) Market Size & Forecasts by Organization Size 2022-2032

8.1. Segment Dashboard
8.2. Global Self-Sovereign Identity (SSI) Market: Organization Size Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 8.2.1. SMEs
- 8.2.2. Large Enterprises

Chapter 9. Global Self-Sovereign Identity (SSI) Market Size & Forecasts by Vertical 2022-2032

9.1. Segment Dashboard
9.2. Global Self-Sovereign Identity (SSI) Market: Vertical Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 9.2.1. BFSI
- 9.2.2. IT and ITeS
- 9.2.3. Telecom
- 9.2.4. Government
- 9.2.5. Real Estate & Construction
- 9.2.6. Healthcare
- 9.2.7. Retail and E-Commerce
- 9.2.8. Media & Entertainment
- 9.2.9. Travel & Hospitality
- 9.2.10. Other Verticals

Chapter 10. Global Self-Sovereign Identity (SSI) Market Size & Forecasts by Region 2022-2032

10.1. North America Self-Sovereign Identity (SSI) Market
- 10.1.1. U.S. Self-Sovereign Identity (SSI) Market
  - 10.1.1.1. Offering breakdown size & forecasts, 2022-2032
  - 10.1.1.2. Identity Type breakdown size & forecasts, 2022-2032
  - 10.1.1.3. Network breakdown size & forecasts, 2022-2032
  - 10.1.1.4. Organization Size breakdown size & forecasts, 2022-2032
  - 10.1.1.5. Vertical breakdown size & forecasts, 2022-2032
- 10.1.2. Canada Self-Sovereign Identity (SSI) Market
10.2. Europe Self-Sovereign Identity (SSI) Market
- 10.2.1. U.K. Self-Sovereign Identity (SSI) Market
- 10.2.2. Germany Self-Sovereign Identity (SSI) Market
- 10.2.3. France Self-Sovereign Identity (SSI) Market
- 10.2.4. Spain Self-Sovereign Identity (SSI) Market
- 10.2.5. Italy Self-Sovereign Identity (SSI) Market
- 10.2.6. Rest of Europe Self-Sovereign Identity (SSI) Market
10.3. Asia-Pacific Self-Sovereign Identity (SSI) Market
- 10.3.1. China Self-Sovereign Identity (SSI) Market
- 10.3.2. India Self-Sovereign Identity (SSI) Market
- 10.3.3. Japan Self-Sovereign Identity (SSI) Market
- 10.3.4. Australia Self-Sovereign Identity (SSI) Market
- 10.3.5. South Korea Self-Sovereign Identity (SSI) Market
- 10.3.6. Rest of Asia Pacific Self-Sovereign Identity (SSI) Market
10.4. Latin America Self-Sovereign Identity (SSI) Market
- 10.4.1. Brazil Self-Sovereign Identity (SSI) Market
- 10.4.2. Mexico Self-Sovereign Identity (SSI) Market
- 10.4.3. Rest of Latin America Self-Sovereign Identity (SSI) Market
10.5. Middle East & Africa Self-Sovereign Identity (SSI) Market
- 10.5.1. Saudi Arabia Self-Sovereign Identity (SSI) Market
- 10.5.2. South Africa Self-Sovereign Identity (SSI) Market
- 10.5.3. Rest of Middle East & Africa Self-Sovereign Identity (SSI) Market

Chapter 11. Competitive Intelligence

11.1. Key Company SWOT Analysis
11.2. Top Market Strategies
11.3. Company Profiles
- 11.3.1. Microsoft
  - 11.3.1.1. Key Information
  - 11.3.1.2. Overview
  - 11.3.1.3. Financial (Subject to Data Availability)
  - 11.3.1.4. Product Summary
  - 11.3.1.5. Market Strategies
- 11.3.2. Ping Identity
- 11.3.3. IDEX Biometrics
- 11.3.4. NEC
- 11.3.5. Imageware
- 11.3.6. Dock
- 11.3.7. Metadium
- 11.3.8. Blockchain Helix
- 11.3.9. Validated ID
- 11.3.10. Wipro

Chapter 12. Research Process

12.1. Research Process
- 12.1.1. Data Mining
- 12.1.2. Analysis
- 12.1.3. Market Estimation
- 12.1.4. Validation
- 12.1.5. Publishing
12.2. Research Attributes