PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1544583
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1544583
Decentralized Identity Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032
Decentralized identity market size is expected to register over 70% CAGR between 2024 and 2032, driven by the rising demand for secure, user-controlled digital identity solutions. Conventional identity systems, often reliant on centralized repositories, are susceptible to breaches and misuse. In contrast, decentralized identity technology empowers individuals to retain control over their personal information, significantly mitigating the risks of identity theft and bolstering privacy.
In response to growing concerns, governments and organizations worldwide are enacting stringent regulations aimed at safeguarding personal data and promoting transparency in data handling. Decentralized identity systems have emerged as a formidable solution, adept at fulfilling these regulatory mandates through secure, verifiable, and privacy-centric identity management. For example, in May 2024, MicroStrategy Orange unveiled decentralized identities, emphasizing their trustless, tamper-proof, and enduring nature, all made possible by harnessing the Bitcoin blockchain. As enterprises strive to keep pace with evolving regulatory standards and bolster their digital security, the decentralized identity market witnesses a corresponding surge.
The overall industry is segmented into identity type, enterprise size, industry vertical, and region.
Based on identity type, the decentralized identity market size from the non-biometrics segment is projected to observe substantial growth through 2032. This surge is attributed to non-biometric solutions, such as cryptographic keys, digital signatures, and multi-factor authentication, which not only complement traditional biometric methods but also introduce added layers of security and flexibility. These non-biometric methods, when integrated into decentralized identity systems, not only bolster security but also address the privacy concerns often linked with biometric data.
Decentralized identity market from the small and medium-sized enterprises (SMEs) segment is anticipated to generate high revenue between 2024- 2032 due to the need for cost-effective, scalable, and secure identity management solutions. Decentralized identity systems offer SMEs a way to enhance security and streamline identity verification processes without the high costs associated with traditional centralized systems.
Europe decentralized identity industry is predicted to grow at a strong rate through 2032, largely credited to the stringent regulatory landscape and unwavering commitment to digital innovation. The General Data Protection Regulation (GDPR) stands out as a pivotal force, shaping the trajectory of decentralized identity solutions in Europe by underscoring the importance of user control over personal data and advocating for rigorous privacy protections.
Table of Contents
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 Increased digital transformation initiatives
- 3.8.1.2 Rising incidents of identity theft and fraud
- 3.8.1.3 Emergence of the Internet of Things (IOT)
- 3.8.1.4 Corporate digital identity needs
- 3.8.1.5 Support from major technology companies
- 3.8.2 Industry pitfalls and challenges
- 3.8.2.1 User Experience (UX) issues
- 3.8.2.2 Integration with legacy systems
- 3.8.1 Growth drivers
- 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 Identity Type, 2021 - 2032 (USD Billion)
- 5.1 Biometrics
- 5.2 Non-biometrics
Chapter 6 Market Estimates and Forecast, By Enterprise Size, 2021 - 2032 (USD Billion)
- 6.1 Large enterprises
- 6.2 Small and medium-sized enterprises
Chapter 7 Market Estimates and Forecast, By Industry Vertical, 2021 - 2032 (USD Billion)
- 7.1 BFSI
- 7.2 Retail and e-commerce
- 7.3 IT and telecommunication
- 7.4 Government and public sector
- 7.5 Healthcare
- 7.6 Real estate
- 7.7 Media and entertainment
- 7.8 Others
Chapter 8 Market Estimates and Forecast, By Region, 2021 - 2032 (USD Billion)
- 8.1 Key trends
- 8.2 North America
- 8.2.1 U.S.
- 8.2.2 Canada
- 8.3 Europe
- 8.3.1 UK
- 8.3.2 Germany
- 8.3.3 France
- 8.3.4 Italy
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 China
- 8.4.2 India
- 8.4.3 Japan
- 8.4.4 South Korea
- 8.4.5 ANZ
- 8.4.6 Rest of Asia Pacific
- 8.5 Latin America
- 8.5.1 Brazil
- 8.5.2 Mexico
- 8.5.3 Rest of Latin America
- 8.6 MEA
- 8.6.1 UAE
- 8.6.2 South Africa
- 8.6.3 Saudi Arabia
- 8.6.4 Rest of MEA
Chapter 9 Company Profiles
- 9.1. 1 Kosmos Inc.
- 9.2 Accenture
- 9.3 Affinidi
- 9.4 Avast Software s.r.o.
- 9.5 Civic Technologies, Inc.
- 9.6 Datarella GmbH
- 9.7 Dragonchain Inc.
- 9.8 Evernym Inc.
- 9.9 Finema Co., Ltd.
- 9.10 Hu-manity.co
- 9.11 Jolocom GmbH
- 9.12 Kiva Protocol
- 9.13 Microsoft
- 9.14 Nuggets
- 9.15 NuID Inc.
- 9.16 Ontology
- 9.17 Persistent Systems
- 9.18 Ping Identity
- 9.19 R3
- 9.20 SecureKey Technologies Inc.
- 9.21 SelfKey Foundation
- 9.22 Serto Inc.
- 9.23 Validated ID SL
- 9.24 Veramo
- 9.25 Wipro
