Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report ongoing by
Infinium Global Research on the blockchain identity management market provides an in-depth analysis of segments and sub-segments in the global as well as
regional blockchain identity management market. The study also highlights the
impact of drivers, restraints, and macro indicators on the global and regional
blockchain identity management market over the short term as well as long term.
The report is a comprehensive presentation of trends, forecast and dollar
values of the global blockchain identity management market. According to the
report, the global blockchain identity management market is projected to grow
at a CAGR of 79% over the forecast period of 2021-2027.
The user identities are defined
and managed in an enterprise environment by the process of identity management.
It defines the process by which user identities are provisioned and
coordinated. Blockchain is one of the emerging technologies, and many companies
are implementing it in their businesses. The technology has a superior ability
to maintain records, cost-effectiveness, and other advantages. Blockchain
identity management enables more secure management and storage of digital
identities. It provides an integrated, interoperable, and tamper-proof
infrastructure with key benefits to enterprises, users, and IoT management
systems.
The growing security concerns
behind the existing models among enterprises drive the market growth. The
traditional identity systems of today are fragmented, insecure, and exclusive.
Blockchain identity management allows to accelerate secure workforce access,
increase operational efficiencies, and mitigate security risks. It provides
comprehensive lifecycle management capabilities for any identity. Furthermore,
the growing demand for blockchain identity solutions across industry verticals
also drives the global market. The continuous blockchain developments and the
use of blockchain identity management among the various industry verticals are
expected to serve more growth opportunities for the companies working in the
blockchain identity management market. However, uncertain regulatory standards
are restraining the global blockchain identity management market. Moreover,
extensive applications of blockchain identity solutions in banking,
cybersecurity, and IoT provide growth opportunities to the market players. The COVID-19 outbreak opened up new applications
for many technologies across various sectors. Blockchain identity management
played a role as a reliable data tracker in the pandemic crisis. In the
healthcare industry, blockchain identity management was used to track the
spread of the coronavirus and identify high-risk patients. This technology
helped in controlling the infection in real-time with the help of a digital
database, which was used and shared within an extensive decentralized and
publicly accessible network. Such applications of blockchain technology to
combat the healthcare and economic impact of the pandemic augmented the growth
of the market during 2020 and 2021.
Among the geographies, North
America holds the largest shares in the blockchain identity management market.
The increasing implementation of blockchain-based smart contracts in the North
American region driving the blockchain identity management market in this
region. The high adoption of advanced technology and the growing application of
Blockchain in the BFSI and healthcare is expected to contribute to the growth
of the blockchain identity management market in the North American region. In
addition, Asia Pacific is the fastest-growing region in the blockchain identity
management market owing to the growing adoption of the blockchain across
various industries such as IT and Telecommunication, BFSI, and others.
The report on global blockchain
identity management market covers segments such as provider, and industry
vertical. On the basis of provider, the sub-markets include application
providers, middleware providers, and infrastructure providers. On the basis of
industry vertical, the sub-markets include BFSI, government, healthcare and
life sciences, telecom and IT, retail and e-commerce, travel and hospitality,
and others.
The report provides profiles of
the companies in the market such as IBM Corporation, Bitfury Group Limited,
Civic Technologies, Evernym Inc., Amazon Web Services, Inc., Cambridge
Blockchain LLC, KYC-CHAIN LIMITED, Microsoft Corporation, and Oracle
Corporation.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of blockchain identity management market. Moreover, the study
highlights current market trends and provides forecast from 2021-2027. We also
have highlighted future trends in the market that will affect the demand during
the forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.
Please Choose One of them.