JERSEY CITY, N.J. – As per the deep research carried out by Verified Market Research®, the global Blockchain Identity Management Market size was valued at USD 142.7 Million in 2021 and is projected to reach USD 41,700 Million by 2030, growing at a CAGR of 87.9% from 2023 to 2030.
Global Blockchain Identity Management Market Overview
Blockchain is the decentralized way of managing financial transactions in the form of a digital ledger. Blockchain is improving many industries by offering solutions such as security, transparency, and other features. Another reason blockchain identity solutions are becoming popular is that the currently available identity solutions such as government-issued IDs are nowhere near secure and come with many major flaws. Blockchain provides a way to create a digital identity with improved encryption for security purposes. Through these security measures, Blockchain allows organizations and individuals to save money and time.
The rising concern regarding trust and transaction transparency in industries is what is driving the demand for blockchain identity solutions. Blockchain does not require any intermediary party for operations and it secures the digital data through encryption. Instead of a central mediator, blockchain uses the blockchain network connected to various systems and people across the globe to administer any transaction. Due to these security measures, governments are also promoting the use of blockchain in various applications which is estimated to boost the market during the forecast period.
Verified Market Research® narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements that interests the client. The “Global Blockchain Identity Management Market” is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.
Key Players
The “Global Blockchain Identity Management Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Cambridge Blockchain LLC, Amazon Web Services, Inc, Evernym Inc, Microsoft Corporation, Bitfury Group Limited, KYC-CHAIN LIMITED, Blockverify, Civic Technologies, IBM Corporation, Oracle Corporation.
Based on the research, Verified Market Research® has segmented the global Blockchain Identity Management Market into Provider, Vertical, and Geography.
- Blockchain Identity Management Market, by Provider
- Application Providers
- Middleware Providers
- Infrastructure Providers
- Blockchain Identity Management Market, by Vertical
- Media and Entertainment
- Real Estate
- BFSI
- Transport and Logistics
- Others
- Blockchain Identity Management Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
Source: Verified Market Research
