Blockchain Identity Management Market

Description

The Blockchain Identity Management Market is projected to increase from US$ 1.92 billion in 2024 to US$ 65.83 billion by 2031, with an anticipated CAGR of 67.5% during the period from 2025 to 2031. Identity management encompasses the processes, policies, and technologies that ensure only authorized users can access technical resources. Current digital identity management systems face several challenges, such as the risk of data breaches, a subpar user experience due to the necessity of managing multiple accounts, and insufficient control over user data. The advantages of blockchain identity management include faster verification processes, reduced verification costs, and enhanced data privacy and security. The application of blockchain identity management is growing across various industries, including finance, education, and the workforce.

Blockchain Identity Management Market Analysis

The forecast for the blockchain identity management market is based on a variety of secondary and primary research findings, including key company publications, association data, and databases. Blockchain technology serves as a crucial method for preventing large-scale data breaches in the future. It operates as a peer-to-peer distributed, immutable ledger of information. Each "block" of information contains a complete and accurate record of every transaction, which cannot be altered once validated and is secured through cryptography.

With the increasing incidence of identity fraud, there is a growing demand among professionals for improved technology to safeguard the digital identities of their customers or employees. For example, according to a report from the FTC (Federal Trade Commission), out of 5.7 million cases reported, 1.4 million (25%) were specifically related to identity theft. The FTC differentiates between identity theft and fraud in its reporting. Experts indicate that these incidents occur so frequently that a new victim is reported every 22 seconds. Most studies predict that this rate will increase in 2024, making it an even more urgent issue for Americans.

Ultimately, blockchain technology could eliminate the need for intermediaries and provide individuals with complete control over their digital identities.

Blockchain Identity Management Industry Overview

Most Identity and Access Management (IAM) systems today depend on centralized databases, which create a single point of failure. This situation places millions of individuals' personally identifiable information (PII) at significant risk of compromise. Blockchain addresses this issue by decentralizing IAM and offering decentralized IDs.In a world that is increasingly digitized, where online interactions and transactions are commonplace, the demand for secure and reliable digital identity management has never been more critical. Traditional methods of identity verification and authentication are often centralized, exposing individuals and businesses to the risks of data breaches and identity theft. Blockchain technology presents a decentralized and tamper-resistant solution that has the potential to transform how we manage digital identities.

Strategic Insights

Blockchain Identity Management Market Driver

Technological advancements aimed at preventing identity theft are set to propel the blockchain identity management market.

Blockchain has gained traction due to its capability to facilitate secure transactions and prevent identity theft. Identity theft is a significant concern, with approximately 60 million individuals affected in the United States alone. The global scale of stolen identities is staggering. Many individuals remain unaware that their identities have been compromised until they face severe repercussions. Without adequate measures to protect customer identities, online businesses risk losing brand loyalty and reputation. Blockchain empowers consumers with greater control over their personal information and provides a reliable means to prevent identity fraud.Blockchain technology offers several advantages for securing user data and preventing unauthorized identities from infiltrating the system. It is frequently utilized as a cybersecurity tool to combat identity theft. The level of security it provides can help prevent personal data from falling into the hands of malicious actors. The distributed ledger of blockchain serves as a database for tracking digital records. Each user's personal information on the ledger is protected using cryptographic keys, which encode data in a machine-readable format. This makes it challenging for hackers and cybercriminals to decrypt the keys and access sensitive credentials.

Blockchain Identity Management Market Report Segmentation Analysis

According to industry, the blockchain identity management market report is categorized into BFSI, government, healthcare, telecom and IT, retail, transport and logistics, and others. The BFSI segment is expected to capture a significant share of the blockchain identity management market in 2024.Blockchain identity services have been widely embraced by various sectors or companies to enhance security and privacy. From secure patient data in healthcare to fortified KYC in finance, each sector has leveraged blockchain's potential in identity management, facilitating seamless interactions.

Blockchain Identity Management Market Analysis by Geography

The blockchain identity management market report is primarily divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is witnessing rapid growth and is expected to hold a significant share of the Blockchain Identity Management market. The region's substantial technological advancements in blockchain have contributed to this growth. North America includes many developing countries like the US and Canada, which are driving the growth of the Blockchain Identity Management market.

Blockchain Identity Management Market Report Scope

The "Blockchain Identity Management Market Analysis" was conducted based on core investment strategies and geography. The market is segmented by provider type into application provider, middleware provider, and infrastructure provider. Geographically, the market is divided into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

Companies are employing both inorganic and organic strategies, such as mergers and acquisitions, in the Blockchain Identity Management market. Some recent key developments in the market are listed below:

In June 2019, Accenture, in collaboration with Microsoft and Avanade, developed a blockchain-based identity prototype - a type of database system that allows multiple parties to share access to the same data with a high level of confidence and security.[Source: Accenture, Company Website]

Blockchain Identity Management Market Report Coverage & Deliverables

The market report "Blockchain Identity Management Market Size and Forecast (2021-2031)" provides a comprehensive analysis of the market covering the following areas:

Market size & forecast at global, regional, and country levels for all key market segments included in the scope.Market dynamics such as drivers, restraints, and key opportunities.Key future trends.Detailed PEST & SWOT analysis.Global and regional market analysis covering key market trends, key players, regulations, and recent market developments.Industry landscape and competition analysis covering market concentration, heat map analysis, key players, and recent developments.Detailed company profiles.

Product Code: TIPRE00003118

1. INTRODUCTION

1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
- 1.3.1 Blockchain Identity Management Market - By Provider
- 1.3.2 Blockchain Identity Management Market - By Vertical
- 1.3.3 Blockchain Identity Management Market - By Region
  - 1.3.3.1 By Country

2. KEY TAKEAWAYS

3. RESEARCH METHODOLOGY

4. BLOCKCHAIN IDENTITY MANAGEMENT MARKET LANDSCAPE

4.1. OVERVIEW
4.2. PORTER’S FIVE FORCES ANALYSIS
- 4.2.1 Bargaining Power of Buyers
- 4.2.1 Bargaining Power of Suppliers
- 4.2.1 Threat of Substitute
- 4.2.1 Threat of New Entrants
- 4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS

5. BLOCKCHAIN IDENTITY MANAGEMENT MARKET - KEY MARKET DYNAMICS

5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS

6. BLOCKCHAIN IDENTITY MANAGEMENT MARKET - GLOBAL MARKET ANALYSIS

6.1. BLOCKCHAIN IDENTITY MANAGEMENT - GLOBAL MARKET OVERVIEW
6.2. BLOCKCHAIN IDENTITY MANAGEMENT - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE

7. BLOCKCHAIN IDENTITY MANAGEMENT MARKET - REVENUE AND FORECASTS TO 2028 - PROVIDER

7.1. OVERVIEW
7.2. PROVIDER MARKET FORECASTS AND ANALYSIS
7.3. INFRASTRUCTURE PROVIDER
- 7.3.1. Overview
- 7.3.2. Infrastructure Provider Market Forecast and Analysis
7.4. MIDDLEWARE PROVIDER
- 7.4.1. Overview
- 7.4.2. Middleware Provider Market Forecast and Analysis
7.5. INFRASTRUCTURE PROVIDER
- 7.5.1. Overview
- 7.5.2. Infrastructure Provider Market Forecast and Analysis

8. BLOCKCHAIN IDENTITY MANAGEMENT MARKET - REVENUE AND FORECASTS TO 2028 - VERTICAL

8.1. OVERVIEW
8.2. VERTICAL MARKET FORECASTS AND ANALYSIS
8.3. BFSI
- 8.3.1. Overview
- 8.3.2. BFSI Market Forecast and Analysis
8.4. GOVERNMENT
- 8.4.1. Overview
- 8.4.2. Government Market Forecast and Analysis
8.5. HEALTHCARE AND LIFE SCIENCES
- 8.5.1. Overview
- 8.5.2. Healthcare and Life Sciences Market Forecast and Analysis
8.6. TELECOM AND IT
- 8.6.1. Overview
- 8.6.2. Telecom and IT Market Forecast and Analysis
8.7. RETAIL AND E-COMMERCE
- 8.7.1. Overview
- 8.7.2. Retail and e-Commerce Market Forecast and Analysis
8.8. TRANSPORT AND LOGISTICS
- 8.8.1. Overview
- 8.8.2. Transport and Logistics Market Forecast and Analysis
8.9. REAL ESTATE
- 8.9.1. Overview
- 8.9.2. Real Estate Market Forecast and Analysis
8.10. OTHERS
- 8.10.1. Overview
- 8.10.2. Others Market Forecast and Analysis

9. BLOCKCHAIN IDENTITY MANAGEMENT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS

9.1. NORTH AMERICA
- 9.1.1 North America Blockchain Identity Management Market Overview
- 9.1.2 North America Blockchain Identity Management Market Forecasts and Analysis
- 9.1.3 North America Blockchain Identity Management Market Forecasts and Analysis - By Provider
- 9.1.4 North America Blockchain Identity Management Market Forecasts and Analysis - By Vertical
- 9.1.5 North America Blockchain Identity Management Market Forecasts and Analysis - By Countries
  - 9.1.5.1 United States Blockchain Identity Management Market
    - 9.1.5.1.1 United States Blockchain Identity Management Market by Provider
    - 9.1.5.1.2 United States Blockchain Identity Management Market by Vertical
  - 9.1.5.2 Canada Blockchain Identity Management Market
    - 9.1.5.2.1 Canada Blockchain Identity Management Market by Provider
    - 9.1.5.2.2 Canada Blockchain Identity Management Market by Vertical
  - 9.1.5.3 Mexico Blockchain Identity Management Market
    - 9.1.5.3.1 Mexico Blockchain Identity Management Market by Provider
    - 9.1.5.3.2 Mexico Blockchain Identity Management Market by Vertical
9.2. EUROPE
- 9.2.1 Europe Blockchain Identity Management Market Overview
- 9.2.2 Europe Blockchain Identity Management Market Forecasts and Analysis
- 9.2.3 Europe Blockchain Identity Management Market Forecasts and Analysis - By Provider
- 9.2.4 Europe Blockchain Identity Management Market Forecasts and Analysis - By Vertical
- 9.2.5 Europe Blockchain Identity Management Market Forecasts and Analysis - By Countries
  - 9.2.5.1 Germany Blockchain Identity Management Market
    - 9.2.5.1.1 Germany Blockchain Identity Management Market by Provider
    - 9.2.5.1.2 Germany Blockchain Identity Management Market by Vertical
  - 9.2.5.2 France Blockchain Identity Management Market
    - 9.2.5.2.1 France Blockchain Identity Management Market by Provider
    - 9.2.5.2.2 France Blockchain Identity Management Market by Vertical
  - 9.2.5.3 Italy Blockchain Identity Management Market
    - 9.2.5.3.1 Italy Blockchain Identity Management Market by Provider
    - 9.2.5.3.2 Italy Blockchain Identity Management Market by Vertical
  - 9.2.5.4 United Kingdom Blockchain Identity Management Market
    - 9.2.5.4.1 United Kingdom Blockchain Identity Management Market by Provider
    - 9.2.5.4.2 United Kingdom Blockchain Identity Management Market by Vertical
  - 9.2.5.5 Russia Blockchain Identity Management Market
    - 9.2.5.5.1 Russia Blockchain Identity Management Market by Provider
    - 9.2.5.5.2 Russia Blockchain Identity Management Market by Vertical
  - 9.2.5.6 Rest of Europe Blockchain Identity Management Market
    - 9.2.5.6.1 Rest of Europe Blockchain Identity Management Market by Provider
    - 9.2.5.6.2 Rest of Europe Blockchain Identity Management Market by Vertical
9.3. ASIA-PACIFIC
- 9.3.1 Asia-Pacific Blockchain Identity Management Market Overview
- 9.3.2 Asia-Pacific Blockchain Identity Management Market Forecasts and Analysis
- 9.3.3 Asia-Pacific Blockchain Identity Management Market Forecasts and Analysis - By Provider
- 9.3.4 Asia-Pacific Blockchain Identity Management Market Forecasts and Analysis - By Vertical
- 9.3.5 Asia-Pacific Blockchain Identity Management Market Forecasts and Analysis - By Countries
  - 9.3.5.1 Australia Blockchain Identity Management Market
    - 9.3.5.1.1 Australia Blockchain Identity Management Market by Provider
    - 9.3.5.1.2 Australia Blockchain Identity Management Market by Vertical
  - 9.3.5.2 China Blockchain Identity Management Market
    - 9.3.5.2.1 China Blockchain Identity Management Market by Provider
    - 9.3.5.2.2 China Blockchain Identity Management Market by Vertical
  - 9.3.5.3 India Blockchain Identity Management Market
    - 9.3.5.3.1 India Blockchain Identity Management Market by Provider
    - 9.3.5.3.2 India Blockchain Identity Management Market by Vertical
  - 9.3.5.4 Japan Blockchain Identity Management Market
    - 9.3.5.4.1 Japan Blockchain Identity Management Market by Provider
    - 9.3.5.4.2 Japan Blockchain Identity Management Market by Vertical
  - 9.3.5.5 South Korea Blockchain Identity Management Market
    - 9.3.5.5.1 South Korea Blockchain Identity Management Market by Provider
    - 9.3.5.5.2 South Korea Blockchain Identity Management Market by Vertical
  - 9.3.5.6 Rest of Asia-Pacific Blockchain Identity Management Market
    - 9.3.5.6.1 Rest of Asia-Pacific Blockchain Identity Management Market by Provider
    - 9.3.5.6.2 Rest of Asia-Pacific Blockchain Identity Management Market by Vertical
9.4. MIDDLE EAST AND AFRICA
- 9.4.1 Middle East and Africa Blockchain Identity Management Market Overview
- 9.4.2 Middle East and Africa Blockchain Identity Management Market Forecasts and Analysis
- 9.4.3 Middle East and Africa Blockchain Identity Management Market Forecasts and Analysis - By Provider
- 9.4.4 Middle East and Africa Blockchain Identity Management Market Forecasts and Analysis - By Vertical
- 9.4.5 Middle East and Africa Blockchain Identity Management Market Forecasts and Analysis - By Countries
  - 9.4.5.1 South Africa Blockchain Identity Management Market
    - 9.4.5.1.1 South Africa Blockchain Identity Management Market by Provider
    - 9.4.5.1.2 South Africa Blockchain Identity Management Market by Vertical
  - 9.4.5.2 Saudi Arabia Blockchain Identity Management Market
    - 9.4.5.2.1 Saudi Arabia Blockchain Identity Management Market by Provider
    - 9.4.5.2.2 Saudi Arabia Blockchain Identity Management Market by Vertical
  - 9.4.5.3 U.A.E Blockchain Identity Management Market
    - 9.4.5.3.1 U.A.E Blockchain Identity Management Market by Provider
    - 9.4.5.3.2 U.A.E Blockchain Identity Management Market by Vertical
  - 9.4.5.4 Rest of Middle East and Africa Blockchain Identity Management Market
    - 9.4.5.4.1 Rest of Middle East and Africa Blockchain Identity Management Market by Provider
    - 9.4.5.4.2 Rest of Middle East and Africa Blockchain Identity Management Market by Vertical
9.5. SOUTH AND CENTRAL AMERICA
- 9.5.1 South and Central America Blockchain Identity Management Market Overview
- 9.5.2 South and Central America Blockchain Identity Management Market Forecasts and Analysis
- 9.5.3 South and Central America Blockchain Identity Management Market Forecasts and Analysis - By Provider
- 9.5.4 South and Central America Blockchain Identity Management Market Forecasts and Analysis - By Vertical
- 9.5.5 South and Central America Blockchain Identity Management Market Forecasts and Analysis - By Countries
  - 9.5.5.1 Brazil Blockchain Identity Management Market
    - 9.5.5.1.1 Brazil Blockchain Identity Management Market by Provider
    - 9.5.5.1.2 Brazil Blockchain Identity Management Market by Vertical
  - 9.5.5.2 Argentina Blockchain Identity Management Market
    - 9.5.5.2.1 Argentina Blockchain Identity Management Market by Provider
    - 9.5.5.2.2 Argentina Blockchain Identity Management Market by Vertical
  - 9.5.5.3 Rest of South and Central America Blockchain Identity Management Market
    - 9.5.5.3.1 Rest of South and Central America Blockchain Identity Management Market by Provider
    - 9.5.5.3.2 Rest of South and Central America Blockchain Identity Management Market by Vertical

10. INDUSTRY LANDSCAPE

10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS

11. BLOCKCHAIN IDENTITY MANAGEMENT MARKET, KEY COMPANY PROFILES

11.1. AMAZON WEB SERVICES
- 11.1.1. Key Facts
- 11.1.2. Business Description
- 11.1.3. Products and Services
- 11.1.4. Financial Overview
- 11.1.5. SWOT Analysis
- 11.1.6. Key Developments
11.2. BITFURY
- 11.2.1. Key Facts
- 11.2.2. Business Description
- 11.2.3. Products and Services
- 11.2.4. Financial Overview
- 11.2.5. SWOT Analysis
- 11.2.6. Key Developments
11.3. BTL GROUP
- 11.3.1. Key Facts
- 11.3.2. Business Description
- 11.3.3. Products and Services
- 11.3.4. Financial Overview
- 11.3.5. SWOT Analysis
- 11.3.6. Key Developments
11.4. CIVIC TECHNOLOGIES
- 11.4.1. Key Facts
- 11.4.2. Business Description
- 11.4.3. Products and Services
- 11.4.4. Financial Overview
- 11.4.5. SWOT Analysis
- 11.4.6. Key Developments
11.5. EVERNYM
- 11.5.1. Key Facts
- 11.5.2. Business Description
- 11.5.3. Products and Services
- 11.5.4. Financial Overview
- 11.5.5. SWOT Analysis
- 11.5.6. Key Developments
11.6. FACTOM
- 11.6.1. Key Facts
- 11.6.2. Business Description
- 11.6.3. Products and Services
- 11.6.4. Financial Overview
- 11.6.5. SWOT Analysis
- 11.6.6. Key Developments
11.7. IBM CORPORATION
- 11.7.1. Key Facts
- 11.7.2. Business Description
- 11.7.3. Products and Services
- 11.7.4. Financial Overview
- 11.7.5. SWOT Analysis
- 11.7.6. Key Developments
11.8. KYC-CHAIN
- 11.8.1. Key Facts
- 11.8.2. Business Description
- 11.8.3. Products and Services
- 11.8.4. Financial Overview
- 11.8.5. SWOT Analysis
- 11.8.6. Key Developments
11.9. NETKI
- 11.9.1. Key Facts
- 11.9.2. Business Description
- 11.9.3. Products and Services
- 11.9.4. Financial Overview
- 11.9.5. SWOT Analysis
- 11.9.6. Key Developments
11.10. SHOCARD
- 11.10.1. Key Facts
- 11.10.2. Business Description
- 11.10.3. Products and Services
- 11.10.4. Financial Overview
- 11.10.5. SWOT Analysis
- 11.10.6. Key Developments

12. APPENDIX

12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS