PUBLISHER: Polaris Market Research | PRODUCT CODE: 1132273
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1132273
The global decentralized identity market size is expected to reach USD 46,457.5 million by 2030, according to a new study by Polaris Market Research. The report "Decentralized Identity Market Share, Size, Trends, Industry Analysis Report, By Component (Solution, Services); By Deployment Type; By Organization Size; By Industry Vertical; By Region; Segment Forecast, 2022 - 2030" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The demand for decentralized identity solutions is primarily driven due to the overloading of IT infrastructure on account of the huge influx of information produced on a daily basis in organizations. In addition, this data puts a huge burden on the IT infrastructure, causing numerous problems such as server failure, data breaching, and others.
Moreover, many organizations now offer to bring your own device (BYOD) policy to avoid IT infrastructure complexity. However, such devices become more vulnerable to threats such as malware, security and data breach, and others. Furthermore, due to the increase in complexity of IT infrastructure majority of employees fail to do their job properly. Also, IT teams are at risk of losing control over decentralized systems and the IT environment of their organizations.
Artificial intelligence algorithms are starting to self-improve to become more capable of providing search rankings, search results, and automated investing, which are the major factors expected to provide opportunities for market growth in upcoming years. Moreover, decentralized identity and access management technologies are emerging, and AI-powered verification is gaining popularity.
For instance, at the time of an online purchase or transaction, the verification tools seek to confirm that a digital persona matches up with the physical person behind that persona. Furthermore, with the help of machine learning, software programs are able to analyze data and learn from it. Also, it further helps in identifying patterns and eventually making decisions, which provides major opportunities for organizations; thereby driving the industry growth.
Decentralized Identity Market Report Highlights
Software segment is expected to hold a significant share in 2021 owing to the extensive use of predictive analysis, analysis of user behavior, and fraud detection across various industries
Cloud segment is expected to be the fastest growing during the forecast period. This is because cloud-based services are relatively cheaper than on-premises services, owing to the requirement of less workforce for overseeing overall support and maintenance
The large enterprises segment dominated the global market in 2021 owing to greater access to data and need to offer enhanced services to customers
IT and Telecom segment expected to be the fastest growing during the forecast period owing to the adoption of cloud identity and access management in telecom firms
Europe region is expected account for a significant share in the global market by 2030 owing to greater adoption of decentralized identity solutions by government and public organizations
The global market is highly competitive owing to the existence of large market players with global presence including Accenture Plc, Wipro Limited, Avast, Civic Technologies, Datarella, Dragonchain, and Microsoft Corporation among others
Polaris Market Research has segmented the decentralized identity market report based on component, deployment type, organization size, industry vertical, and region:
Decentralized Identity, Component Outlook (Revenue - USD Million, 2018 - 2030)
Software
Services
Decentralized Identity, Deployment Type Outlook (Revenue - USD Million, 2018 - 2030)
On-Premises
Cloud
Decentralized Identity, Organization Size Outlook (Revenue - USD Million, 2018 - 2030)
Small & Medium Sized Enterprises
Large Enterprises
Decentralized Identity, Industry Vertical Outlook (Revenue - USD Million, 2018 - 2030)
BFSI
Retail
IT & Telecom
Healthcare
Government
Others
Decentralized Identity, Regional Outlook (Revenue - USD Million, 2018 - 2030)
North America
U.S
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Latin America
Argentina
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Figure 1. Global Decentralized Identity Market, 2018 - 2030 (USD Million)
Figure 2. Integrated Ecosystem
Figure 3. Research Methodology: Top-Down & Bottom-Up Industry Vertical
Figure 4. Market by Geography
Figure 5. Porter's Five Forces
Figure 6. Market by Component
Figure 7. Global Decentralized Identity Market, by Component, 2021 & 2030 (USD Million)
Figure 8. Market by Industry Vertical
Figure 9. Global Decentralized Identity Market, by Industry Vertical, 2021 & 2030 (USD Million)
Figure 10. Market by Organization Size
Figure 11. Global Decentralized Identity Market, by Organization Size, 2021 & 2030 (USD Million)
Figure 12. Market by Deployment Type
Figure 13. Global Decentralized Identity Market, by Deployment Type, 2021 & 2030 (USD Million)
Figure 14. Decentralized Identity Market Assessment, By Geography, 2018 - 2030 (USD Million)
Figure 15. Strategic Analysis - Decentralized Identity Market