Blockchain Identity Management Market Size, Share Global Analysis Report, 2021 - 2026

Industry Insights

[196+ Pages Report] We at Facts & Factors have recently published a report titled “Global Blockchain Identity Management Market” that encompasses the spectacle of the market in an analytical and comprehensive manner. We at Facts & Factors estimate that the global blockchain identity management market will be valued at USD 1,865.3 Million by 2026 from an initial value of USD 59.3 Million in the year 2020 growing at a CAGR value of 83.7% during the forecast period of 2021-2026.

Key Insights from Primary Research

• According to our primary respondents, the global blockchain identity management market is expected to grow at a lucrative CAGR of more than 83.7% over the forecasted period.
• According to the market’s expertise, the blockchain identity management market was valued at more than USD 59.3 Million in 2020.
• Based on the deployment mode segmentation, the global blockchain identity management market was headed by a public cloud. This category held more than 60% market share in 2018.
• The leading application category of the global blockchain identity management market was access management in 2018. It accounted for more than one-third share of the total market in 2018.
• By vertical segment, the digital identity segment dominated the global blockchain identity management market in 2018. The segment accounted for more than 40% share in the global blockchain identity management market in 2018.

Key Recommendations from Analysts

• Blockchain Identity Management market is estimated to grow at a notable rate owing to its increasing adoption in Logistics.
• North America is the region that is estimated to hold the highest market share as it is the most technologically advanced region. Furthermore, with the presence of major market players such as IBM Corporation, Oracle Corporation, Amazon Web Services, Inc., and Microsoft Corporation and the increasing number of blockchain startups, the market in this region will witness a notable rise over the coming years.
• Asia Pacific region is projected to grow at the fastest rate over the coming years due to the increasing demand for technology in countries such as China, Japan, and India.
• China is anticipated to be the most lucrative country in the Asia Pacific region as most of the companies are adapting to blockchain technology. In 2019, it was observed that tier 1 & tier 2 cities are implementing their own blockchain and digital asset policies by enforcing the blockchain standard.
• Increasing development in blockchain technology especially in India and Southeast Asia is one of the most prominent factors fueling the market growth.

Market Overview

Blockchain technology is the penultimate process of managing a completely decentralized form of currency and regulating financial transactions under the guise of a digital ledger. Blockchain technology provides a clear pathway for securely sharing information through a secured network of decentralized means while delivering a wide range of extensive security measures that further help its users and organization save money and time.

Industry Growth Factors

The global blockchain identity management market is expected to be occupied by contributing factors such as the rising amount of security concerns regarding the current generation of models coupled with rising demand for identity blockchain management solutions in terms of self-sovereign identification to name a few. Additionally, carefully implemented blockchain identity management measures lead to rapid business transactions while offering attainable immutability which is expected to increase the footprint of the global blockchain identity management market during the advent of the forecast. Moreover, remote working conditions due to the ongoing pandemic coupled with rising demand for integration and verification of users for financial transactions are expected to fuel the growth of the global blockchain identity management market during the advent of the forecast period.

The global blockchain identity management market is expected to be driven by the integration of advanced technologies such as AI, ML, and neural networks coupled with rising demand for privacy and security concerns among enterprises to name a few. Factors pertaining to the rising awareness among consumers about increased controls coupled with rising government support for widespread integration will further boost the growth of the global blockchain identity management market for a larger consumer base. However, a shortage of global regulatory standards and a lack of skilled workforce are expected to hamper the growth of the global blockchain identity management market during the advent of the forecast period to some extent.

Segmentation Analysis

The global blockchain identity management market is segmented into the provider, industry vertical, and region.

On the basis of provider, the global blockchain identity management market is classified into application provider, middleware provider, and infrastructure provider. The segment pertaining to infrastructure providers is expected to witness the largest market share during the advent of the forecast owing to rising demand for the technology from a wider spread of end-use coupled with rising scalability for a longer period of time to name a few. Based on industry vertical, the global blockchain identity management market is divided intoBSFI, government, healthcare & life sciences, retail and e-commerce, transport & logistics, real estate, media & entertainment, travel & hospitality, and others. The  BSFI category is expected to witness the largest market share during the advent of the forecast owing to increasing security and privacy concerns in the banking sectors for their users coupled with increasing cases of phishing scams to name a few.

Report Scope

Regional Analysis

North America is expected to witness the largest market share during the advent of the forecast owing to the region is the most advanced in terms of technological prowess coupled with an increasing presence of key market participants to name a few. Additionally, favorable government support for blockchain identity management coupled with the integration of the latter by SMEs is expected to increase the footprint of the blockchain identity management market during the advent of the forecast period. Rising encryption needs and increasing consumer awareness regarding data privacy and security are expected to fuel the growth of the blockchain identity management market during the advent of the forecast period.

Competitive Players

The key market participants in the global blockchain identity management market are :

• IBM
• AWS
• Civic Technologies
• KYC-Chain
• Bitfury
• Evernym
• Factom
• Netki
• ShoCard
• UniquID
• Microsoft Corporation
• Oracle Corporation
• EdgeSecure
• Blockverify
• Peer Ledger
• Cambridge Blockchain
• uPort
• Originalmy
• Neuroware
• Tradle
• Coinfirm

By Provider Segment Analysis

• Application Provider
• Middleware Provider
• Infrastructure Provider

By Industry Vertical Segment Analysis

• BSFI
• Government
• Healthcare & Life Sciences
• Retail And E-Commerce
• Transport & Logistics
• Real Estate
• Media & Entertainment
• Travel & Hospitality
• Others

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA