Our comprehensive research on the Global Blockchain Identity Management Market (2023-2031) provides insights for businesses. It covers trends, investments, tech advancements, and major players. The report uses qualitative and statistical data from 2017-2031, including SWOT, BCG, PESTLE analysis, and visuals. It offers a full market landscape with stakeholder insights, regional outlooks, and financial considerations.
The global blockchain identity management market size was US$ 71.1 million in 2021. The global blockchain identity management market is forecast to grow to US$ 11211.60 million by 2030 by growing at a compound annual growth rate (CAGR) of 75.20% during the forecast period from 2022 to 2030.
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Factors influencing the Market
The blockchain identity management market is forecast to witness robust growth due to the growing significance of identity verification during the authentication process. In addition, blockchain identity solutions become challenging due to risks like identity theft, username and password combinations, know your customer (KYC) onboarding, and lack of control. Blockchain identity management can play a potential role in overcoming these challenges, which will accelerate the growth of the global blockchain identity management market.
The growing advancements in technology are also boosting cybersecurity threats. As a result, it surges the demand for effective and reliable assistance like blockchain identity management, which will contribute to the growth of the market in the coming years.
The exponential growth of the e-commerce, baking, and finance sector will contribute to the growth of the blockchain identity management market during the study period. In addition, initiatives from the government bodies to promote the use of advanced technologies will benefit the global blockchain identity management market.
The lack of knowledge related to blockchain technology may limit the growth of the market during the study period.
COVID-19 Impact Analysis
The global blockchain identity management market gained rapid traction during the COVID-19 pandemic. The main factors were the booming remote working culture and rising demand for safety solutions. Due to the pandemic, the majority of the offices began operating remotely. Thus, it became essential to adopt blockchain identity management solutions to ensure identity protection and authentication. Furthermore, the sudden expansion of e-commerce and terrific boom in digital currency has further surged the demand for the global blockchain identity management market.
North America is forecast to dominate the global blockchain identity management market in terms of revenue. Asia-pacific is forecast to emerge as the second-largest blockchain identity management market during the study period. The growth of these markets is attributed to the presence of prominent market players like IBM, Civic Technologies, etc. In addition, growing concerns related to data security and management will escalate the growth of the blockchain identity management market.
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Competitors in the Market
- Civic Technologies
- Peer Ledger
- Cambridge Blockchain
- Other Prominent Players
The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.
As of the end of 2022, the Blockchain Identity Management industry experienced notable growth in its workforce. Starting in January, employment within the Blockchain Identity Management sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global Blockchain Identity Management output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sectors production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.
Forecasts indicate that the global Blockchain Identity Management output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global Blockchain Identity Management market, remains both its largest producer and consumer. Remarkably, Chinas market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nations GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the Blockchain Identity Management market.
The global blockchain identity management market segmentation focuses on Provider, Type, and Region.
Based on Provider
- Application Providers
- Middleware Providers
- Infrastructure Providers
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Based on Type
- Healthcare and Life Sciences
- Telecom and IT
- Retail and e-Commerce
- Transport and Logistics
- Real Estate
- Media and Entertainment
- Travel and Hospitality
- Others (Automotive, Education, and Energy & Utilities)
Based on Region
- North America
- The U.S.
- Western Europe
- The UK
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Rest of South America
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Table of Contents:
Chapter 1: Introduction to the Global Blockchain Identity Management Industry
Chapter 3: Dynamics of the Market
Chapter 4: Profiles of Leading Companies
Chapter 5: Competition in the Global Blockchain Identity Management Market among Players
Chapter 6: Market Size across Global Regions
Chapter 7: Application Segments in the Global Market
Chapter 8: Segment Analysis of the Global Blockchain Identity Management Industry
Chapter 9: Market Chain, Sourcing Strategies, and Downstream Buyers
Chapter 10: Strategies and Key Policies by Distributors/Suppliers/Traders
Chapter 11: In-depth Analysis of Key Marketing Strategies by Market Vendors
Chapter 12: Evaluation of Market Impact Factors
Chapter 13: Forecasted Global Blockchain Identity Management Market Size (2023-2031)
Reasons to Acquire This Report
(A) This research imparts invaluable insights tailored for senior management, policymakers, industry professionals, product innovators, sales executives, and stakeholders within the market. It equips them with the information needed to make well-informed decisions and craft effective strategies.
(B) The report delivers a comprehensive analysis of global, regional, and country-level Blockchain Identity Management market revenues, extending projections until 2030. This dataset empowers companies to gauge their market presence, recognize avenues for growth, and explore emerging markets.
(C) Through meticulous segmentation of the Blockchain Identity Management market encompassing types, applications, technologies, and end-uses, this study empowers leaders to blueprint their products and allocate resources based on the projected growth trajectories of each segment.
(D) Investors stand to gain from the market analysis by gaining insights into market scope, positioning, key drivers, challenges, limitations, expansion prospects, and potential risks. Armed with this knowledge, they can make well-considered investment choices.
(E) The report conducts an intricate analysis of competitors, unraveling their pivotal strategies and market positioning. This intelligence equips businesses with a profound understanding of the competitive landscape, enabling them to chart their own strategies accordingly.
(F) The study facilitates the assessment of Blockchain Identity Management business projections delineated by region, key countries, and prominent companies, bestowing invaluable information for investment strategizing and decision-making.
Why is our study consequential?
Our study holds paramount importance for various reasons, a few of which include:
? Assisting businesses in gauging the viability of new or existing products or services.
? Facilitating business enterprises in the identification and cultivation of novel market segments.
? Providing a preemptive understanding of consumer demand prior to introducing new products, services, or features.
? Enhancing the overall efficacy of marketing, advertising, and promotional initiatives.
? Analyzing market trends to aid businesses in devising adaptive strategies.
? Guiding businesses in the optimal placement of their products.
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