The global blockchain identity management market size is expected to reach USD 34.94 billion by 2030, growing at a CAGR of 82.6% from 2023 to 2030, according to a new report by Grand View Research, Inc. Blockchain technology presents a robust solution for mitigating the risks associated with data breaches and unauthorized access. Blockchain significantly reduces vulnerabilities by storing identity information in a decentralized and immutable ledger. Employing cryptographic protection further enhances the security and reliability of the identity management process, driving market growth. Individuals gain enhanced control over their personal data through blockchain-based identity management.Get deeper insights, latest developments & key market drivers in the Global Blockchain Identity Management Market
Report Highlights
• The services segment is expected to grow at a significant rate. With services encompassing a wide range of offerings, from strategy development to technical support, its flexibility, and tailored approach are driving the segment growth
• The application provider segment dominated the market. Application providers frequently invest in R&D to stay ahead of the curve, continuously enhancing their offerings to align with evolving market trends and regulatory requirements
• The permissioned network segment dominated the market. The permissioned nature of these networks facilitates compliance with regulatory frameworks, allowing organizations to meet legal and industry-specific requirements. As businesses increasingly prioritize data protection and adherence to regulations, permissioned networks provide a robust solution that balances security, efficiency, and compliance
• The large enterprises segment dominated the market. The integration of blockchain-based identity management aligns with the growing emphasis on regulatory compliance and data protection standards
Key Companies & Market Share Insights
A mix of established technology players, innovative startups, and strategic collaborations characterizes the competitive landscape in the market. Key industry participants are continuously investing in R&D to enhance their blockchain identity solutions, aiming to provide robust security features, seamless user experiences, and compliance with evolving regulations. Some of the prominent players in the global blockchain identity management market include:
• IBM Corporation
• Amazon Web Services, Inc.
• Oracle Corporation
• Microsoft Corporation
• Dock Labs AG
• NEC Corporation
• Bitfury Group Limited
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Key questions answered in this report
• How big is the market?
• What is the market growth?
• Which segment accounted for the largest market share?
• Who are the key players in the market?
• What are the factors driving the market?