Global Blockchain Identity Management Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

The Blockchain Identity Management Market report has been segmented on the basis of deployment, application, vertical, and region.

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Global Blockchain Identity Management Market: Overview

“The Blockchain Identity Management Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

Blockchain identity management is the technology that helps in managing a big quantity of data. This blockchain identity management helps in providing people with a more active organization over their information.

Blockchain identity management offers various benefits to a blockchain identity, including as they control personal data and others.

In addition, they are used in various applications of blockchain identity management in everyone’s life, including voting systems during election time online money transfer, updating stock marketers, digital data identification, and others.

Global Blockchain Identity Management Market: Dynamics

Increasing demand for KYC oversimplification and autonomy identification coupled with increasing demand for blockchain identity solutions across manufacturing verticals are the major factors expected to drive the growth of the target market.

In addition, increasing presentation and employment of blockchain-based identity management solutions in the BFSI sector are other factors expected to drive the global blockchain identity management market.

However, the lack of common supervisory principles and privacy matters is among the major factors which hampers the growth of the target market.

Furthermore, the growing digitalization of commercial developments is among the other factor expected to drive the growth revenue of the target market.

Global Blockchain Identity Management Market: Segment Analysis

On the basis of deployment, the private cloud segment is dominating the global market in terms of revenue share, owing to the ability for offering worthy security as compared to a public cloud, and is a factor expected to drive the growth of type segment.

On the basis of application, the multi-factor authentication segment is dominating the global market in terms of revenue.

On the basis of vertical, the BFSI segment dominates the global market in terms of revenue. As it has many massive uses in the banking and many sectors and is a factor expected to drive the growth of the type segment.

Global Blockchain Identity Management Market: Regional Analysis

Currently, the North American market is accounting for the largest share and is likely to drive growth over the forecast period.

As there is a high rate of penetration of these blockchain identity management solutions and also the governments in this region are accepting the blockchain technology in the US and Canada coupled with an increasingly strong occurrence of key industry players who offers blockchain identity management solutions in this region.

Asia Pacific market is likely to see the fastest growth in terms of revenue in the near future due to increasing acceptance on a large scale of blockchain identity management resolutions coupled with the rising number of many start-ups in several countries are the factors driving the growth of the target market in the Asia Pacific region.

Europe also accounts for the major revenue share. Furthermore, markets in the Middle East and Africa are expected to witness average growth over the forecast period, followed by Latin America the target market.

Global Blockchain Identity Management Market Segmentation:

Segmentation by deployment:

• Public Cloud
• Private Cloud
• Hybrid Cloud

 Segmentation by application:

• Multi-Factor Authentication
• Password Management
• Access Management
• Directory Services

 Segmentation by vertical:

• BFSI
• Retail
• Logistics
• Healthcare
• Government
• IT and Telecom
• Media and Entertainment
• Travel and Hospitality

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa