Blockchain Identity Management Market Research Report – Forecast to 2027
Market Highlights
Blockchainrnidentity management leverages a blockchain-based process for verification andrnidentification. The technology is gaining much popularity and is observed to bernpenetrating across different industry domains. According to the suggestionrnoffered by Market Research Future, the global blockchain identity managementrnmarket is set to register 85% CAGR across the forecast period 2021 to 2027. Thernmarket is presumed to surpass a valuation of USD 1900 Mn by the end of thernassessment period.
In thisrnkind of management, the data of the user is saved in the user’s phone ratherrnthan some central database. It protects privacy, which is presumed to guide therngrowth pattern of the blockchain identity management market in the forthcomingrnyears. The process offers accuracy of highest degree. It is expected to leadrnthe expansion of the blockchain identity management market during thernevaluation period. In the BFSI industry, the process has found application inrnthe simplification of KYC protocol. It helps in the centralization of data,rnwhich is encouraging its application across different domains. This, in turn,rnis anticipated to catapult the blockchain identity management market on upwardrntrajectory. On the flip side, factors such as ambiguous regulations, issuesrnregarding the authenticity of users, etc. are anticipated to impede marketrngrowth in the foreseeable future.
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Segmentation:
On thernbasis of the provider, the global blockchain identity management market hasrnbeen segmented into middleware providers, application providers, andrninfrastructure providers.
Basedrnon the organization size, the blockchain identity management market has beenrndivided into large enterprises, and small & medium-sized enterprises.
On thernbasis of industry verticals, the blockchain identity management market has beenrnsegmented into BFSI, healthcare & life sciences, government, telecom andrnIT, transport & logistics, travel & hospitality, real estate, retailrn& e-commerce, media & entertainment, and others.
RegionalrnAnalysis:
Thernglobal blockchain identity management market, on the basis of region, has beenrnsegmented into - North America, Asia Pacific (APAC), Europe, and the Rest ofrnthe World (RoW). North America is thernlargest segment on the basis of region. The growth of the blockchain identityrnmanagement market in the region can be accredited to the advanced technologicalrninfrastructure of the region. In addition, the rising adoption of blockchainrntechnology in different industry sectors is likely to prompt market growth inrnthe region over the next couple of years. Asia Pacific is likely to witness anrnupswing in terms of revenue generation. Increasing number of startups based onrnblockchain technology is likely to favor the growth of the regional blockchainrnidentity management market.
CompetitivernDashboard:
IBMrn(U.S.), Civic Technologies (U.S.), AWS (U.S.), KYC-Chain (Hong Kong), Evernymrn(U.S.), Bitfury (U.S.), Factom (U.S.), ShoCard (U.S.), Netki (U.S.), UniquIDrn(U.S.) are some of the top-notch players of the global blockchain identityrnmanagement market. Other players participating in the market include Bitnationrn(Switzerland), Microsoft (US), Oracle (US), Nodalblock (Spain), Coinfirmrn(Poland), Blockverify (U.K), EdgeSecure (U.S.), Peer Ledger (Canada), uPortrn(U.S.), Cambridge Blockchain (US), Originalmy (Brazil), Tradle (U.S.),rnNeuroware (Malaysia), Existenceid (Australia), and BTL Group (Canada). Thesernplayers are anticipated to invest in regional expansion over the next couple ofrnyears, which in turn is poised to drive the competitiveness in the market. Inrnaddition, technological innovations and product developments are anticipated tornkeep the players ahead of the curve and gain edge over other players.
IndustryrnNews:
InrnOctober 2019, the Abu Dhabi National Oil Company (ADNOC) has started usingrnblockchain internally for networking and increasing transparency.
InrnOctober 2019, Ubisoft, the largest third-party game publisher and well-knownrnfor its games - Assassin's Creed, and Far Cry, has picked eight blockchainrnstartups that are working on cutting-edge technologies in gaming for theirrnentrepreneurial lab program.
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BlockchainrnIdentity Management Market Research Report, Component (Software, Solution),rnProvider (Application, Middleware, Infrastructure), Organization Size (LargernEnterprises, SMEs), Vertical (BFSI, Telecom & IT, Government) — GlobalrnForecast till 2027
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