Market Overview –
The total value of the global blockchain identity management market was estimated to be $107.00 million in 2018, and it is anticipated that it will reach $11.46 billion by 2026, showing a CAGR of 79% from 2021 to 2027. A tool for managing identities, Blockchain Identity Management (Blockchain ID) is based on a digital verification and authentication procedure that is carried out using blockchain technology. Instead of storing information in a centralized database, blockchain identity management systems store and encrypt data on the mobile devices of users. The storing and linking of blocks of data across virtual networks is accomplished through the use of cryptography in blockchain technology.
Once the information has been confirmed, it cannot be altered and every information block provides a full and accurate record of every transaction that occurred. Public and private blockchains are the two primary categories of blockchains. Computers that are part of a public blockchain are connected to the internet at large, which enables the involvement of other computers that are part of the same network.
Market Scope –
This report, titled “Global Blockchain Identity Management Market Analysis to 2028,” is a specialist and in-depth research of the technology, media, and telecommunications industries, with a particular emphasis on the analysis of the trends in the global market. The purpose of this study is to present an overview of the blockchain identity management industry along with a complete segmentation of the market based on the provider, the vertical, and the geographic region.
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The research presents critical statistics on the current market status of the major companies in the blockchain identity management market, as well as key trends and opportunities in the industry.
Market Dynamics –
The primary aspects that are likely to fuel the growth of the target market are an increasing demand for KYC oversimplification and autonomy identification, as well as an increasing demand for blockchain identity solutions across all manufacturing sectors. Other factors that are projected to drive the global blockchain identity management market include the growing presentation and use of blockchain-based identity management solutions in the BFSI sector.
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However, one of the most significant problems that inhibits the expansion of the target market is the absence of a consistent set of supervisory norms and concerns around privacy. Additionally, the increasing digitalization of commercial advancements is one of the other factors that is anticipated to promote expansion in the target market’s revenue.
The major players included in the report are –
By Type –
By Application –
Healthcare and Life Sciences
Telecom and IT
Retail and e-Commerce
Transport and Logistics
Media and Entertainment
Travel and Hospitality
By Region –
Rest of Europe