Blockchain Identity Management Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

Global Blockchain Identity Management Market share will garner a 50% CAGR from 2024 to 2032, fueled by the trend toward decentralizing identity management and the focus on enhanced security. Decentralized systems reduce reliance on centralized authorities, giving users greater control over their data and increasing trust. Blockchain's robust security features, such as cryptographic protection and immutable records, address growing concerns about data breaches and identity fraud. As industries and consumers prioritize secure and autonomous identity solutions, the adoption of blockchain technology will expand substantially, thereby driving market growth.

For instance, in February 2023, Wipro introduced DICE ID, leveraging blockchain technology to streamline digital identification and credential verification. This solution enhances security, simplifies processes, and empowers users with control over their data, fostering trust between parties. It underscores a shift towards enhanced security, simplified processes, and greater user control over personal data, which are key trends in the market. This innovation improves trust and efficiency and reinforces the role of blockchain in addressing modern identity management challenges.

The blockchain identity management industry is categorized based on offering, provider type, network, enterprise size, industry vertical, and region.

The application provider segment will experience a marked upturn through 2032, propelled by their critical role in developing and delivering innovative identity solutions. These providers design applications that leverage blockchain's security, transparency, and efficiency, meeting the growing demand for secure digital identity management. By offering customizable and scalable solutions tailored to various industries, they drive widespread adoption. As businesses and institutions increasingly prioritize robust identity verification systems, application providers will dominate the market, capitalizing on their ability to address diverse identity management needs.

The BFSI segment will observe a noteworthy surge between 2024 and 2032 due to its critical need for secure and efficient identity verification processes. As financial institutions face increasing regulatory requirements and cyber threats, blockchain's robust security features offer a reliable solution for safeguarding sensitive customer data. Also, the technology enhances operational efficiency and customer trust by streamlining KYC processes and reducing fraud. The BFSI sector's early adoption and investment in blockchain identity management drive its dominant market position.

Asia Pacific blockchain identity management market will achieve a remarkable share from 2024 to 2032, attributed to rapid digitalization, growing fintech innovations, and increasing cybersecurity concerns. The region's diverse financial landscape and supportive regulatory environments are accelerating the adoption of blockchain-based identity solutions. Besides, the high demand for secure and efficient identity management across various sectors, including banking and e-commerce, further fuels market growth. Asia Pacific's significant investments and advancements in technology establish it as a vital contributor to the blockchain identity management industry.

Product Code: 10110

Chapter 1 Methodology and Scope

1.1 Market scope and definition
1.2 Base estimates and calculations
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 360º synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Vendor matrix
3.3 Profit margin analysis
3.4 Technology and innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.7 Regulatory landscape
3.8 Impact forces
- 3.8.1 Growth drivers
  - 3.8.1.1 Support from major technology companies
  - 3.8.1.2 Growth of digital transformation initiatives
  - 3.8.1.3 Proliferation of IOT devices
  - 3.8.1.4 Regulatory compliance and standards
  - 3.8.1.5 Increased demand for data security and privacy
- 3.8.2 Industry pitfalls and challenges
  - 3.8.2.1 Integration with legacy systems
  - 3.8.2.2 Regulatory and legal uncertainties
3.9 Growth potential analysis
3.10 Porter's analysis
- 3.10.1 Supplier power
- 3.10.2 Buyer power
- 3.10.3 Threat of new entrants
- 3.10.4 Threat of substitutes
- 3.10.5 Industry rivalry
3.11 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates and Forecast, By Offering, 2021 - 2032 (USD Billion)

5.1 Software
5.2 Service

Chapter 6 Market Estimates and Forecast, By Provider Type, 2021 - 2032 (USD Billion)

6.1 Application provider
6.2 Middleware provider
6.3 Infrastructure provider

Chapter 7 Market Estimates and Forecast, By Network, 2021 - 2032 (USD billion)

7.1 Permissioned
7.2 Permissionless

Chapter 8 Market Estimates and Forecast, By Enterprise Size, 2021 - 2032 (USD billion)

8.1 Large enterprises
8.2 Small and medium-sized enterprises

Chapter 9 Market Estimates and Forecast, By Industry Vertical, 2021 - 2032 (USD billion)

9.1 BFSI
9.2 Retail and e-commerce
9.3 IT and telecommunication
9.4 Government and public sector
9.5 Healthcare
9.6 Manufacturing
9.7 Media and entertainment
9.8 Others

Chapter 10 Market Estimates and Forecast, By Region, 2021 - 2032 (USD Billion)

10.1 Key trends
10.2 North America
- 10.2.1 U.S.
- 10.2.2 Canada
10.3 Europe
- 10.3.1 UK
- 10.3.2 Germany
- 10.3.3 France
- 10.3.4 Italy
- 10.3.5 Spain
- 10.3.6 Rest of Europe
10.4 Asia Pacific
- 10.4.1 China
- 10.4.2 India
- 10.4.3 Japan
- 10.4.4 South Korea
- 10.4.5 ANZ
- 10.4.6 Rest of Asia Pacific
10.5 Latin America
- 10.5.1 Brazil
- 10.5.2 Mexico
- 10.5.3 Rest of Latin America
10.6 MEA
- 10.6.1 UAE
- 10.6.2 South Africa
- 10.6.3 Saudi Arabia
- 10.6.4 Rest of MEA

Chapter 11 Company Profiles

11.1 Accumulate
11.2 Amazon Web Services
11.3 Bitfury Group Limited
11.4 Blockchains Inc.
11.5 Coinfirm
11.6 Dock Labs AG
11.7 Factom Inc.
11.8 Fractal
11.9 Humanity.co Inc.
11.10 IBM
11.11 KYC-Chain Limited
11.12 Metadium Technology Inc.
11.13 Microsoft
11.14 NEC Corporation
11.15 Neuroware
11.16 NuID Inc.
11.17 Oaro Limited
11.18 Oracle
11.19 Peer Ledger Inc.
11.20 Procivis AG
11.21 Serto
11.22 SpringRole
11.23 Tradle Inc.
11.24 TRM
11.25 Validated ID, SL