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Blockchain Identity Management Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast 2019 to 2026

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Global Block Chain Identity Management market is predicted to value over USD 3 billion by 2026 end and grow at a CAGR of over 80% during the forecast period 2019 to 2026. Protecting user identity has been an essential responsibility for all the co
Blockchain Identity Management Market Global Trends, Market Share, Industry
Size, Growth, Opportunities, and Market Forecast 2019 to 2026
Global Block Chain Identity Management market is predicted to value over USD 3
billion by 2026 end and grow at a CAGR of over 80% during the forecast period 2019
to 2026.
Protecting user identity has been an essential responsibility for all the companies
that have an online presence and blockchain identity management aids in doing so.
There has been a recent rise in the hacking activities due to which companies across
the world are adopting blockchain identity management solutions so that the
consumer data is protected from digital clones and online frauds. Blockchain identity
management system provides an improved experience for the end user with a
reduced compliance steps and also a better security in general. Companies like IBM
are working relentlessly in preventing client data from frauds. A rise in KYC
simplification and self-sovereign identification are the driving forces of the global
blockchain identity management market. Additionally, businesses are becoming
digital these days which is driving the market growth even further. Nevertheless
privacy concerns and a dearth of common regulatory standards might hamper the
market growth. Nonetheless, BFSI sector is implementing blockchain identity
management system which has initiated newer opportunities for the blockchain
identity management market globally and is expected to grow further during the
forecast period.
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Insights on Block Chain Identity Management Market:
1. By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America
North America is expected to account for a significant share of the global market
during the forecast period due to a high penetration rate of the solutions offered by
this system in U.S and Canada. Big companies are partnering with other leading
regional players so that they can offer services to regional clients. Companies from
the financial sector are highly investing in this system for the sake of the regional
consumers. Millions of people from the U.S were affected by identity theft and fraud
resulting in a loss of billions of dollars for government, individuals and businesses as
well. So to avoid such situations to arise in the future, several key players are
merging with various organizations for implementing the blockchain identity
management system for protecting user database which will boost the market even
further. Due to an adoption of blockchain identity management solutions on a larger
scale, the Asia Pacific market region is expected to witness a significant amount of
growth during the forecast period. Countries like India, China, Australia, South Korea
and Japan have adopted or started to adopt this system at a rapid rate resulting to
the growth of market and one of the main reasons for this fast adoption is the
emergence of a number of government-supported start-ups in several of these
countries. For instance, the Chinese government in 2018, initiated a service platform
using blockchain for supply chain tracking and identity management. Europe is also
expected to witness a significant amount of market growth during the forecast
period owing to the acceptance of online-provided services in Switzerland, Germany,
UK, Finland, France and Italy. The government of Estonia has implemented KSI
blockchain system for e-identity ID cards Due to such amount of acceptance of the
system regionally, this market space is expected to show a positive market growth
during the forecast period.
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By Sector
BFSI
Government
Telecom and IT
Healthcare
Retail and E-commerce
Logistics and Transport
Real Estate
Hospitality
Media and Entertainment
Education
Automotive
Banking, financial services and Insurance (BFSI) sector is the major shareholder of the
global blockchain identity management market due to a consumer financial database
privacy that is required by this sector on a higher priority basis and this market trend
will continue during the forecast period as well. Similar is the case with the
government sector. Online identity theft has been a concern in both developed as
well as emerging economies and that is why governments are implementing
blockchain identity management system on the citizen database so that the personal
data of each and every citizen is protected from fraudsters and hackers and
therefore this sector is also expected to experience a positive market growth during
the forecast period.
3. By Service Providers
• Application Providers
• Middleware Providers
• Infrastructure Providers
Application providers segment is expected to show a significant market growth
during the forecast period as compared to middleware provider and infrastructure
providers due to some unique blockchain capabilities like authenticity, KYC
simplification and self-sovereign identification.
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Competitive Landscape:
• IBM
• Amazon
• KYC-Chain
• Bitfury
• Civic technologies
• Microsoft
• Oracle
• Blockverify
FutureWise Key Takeaways:
• Growth prospects
• SWOT analysis
• Key trends
• Key data-points affecting market growth
Objectives of the Study:
• To provide with an exhaustive analysis on the global block chain identity
management market by region, by sector, by service providers
• To cater comprehensive information on factors impacting market growth (drivers,
restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America,
Europe, Asia Pacific, Middle East & Africa and Latin America
• To record evaluate and competitive landscape mapping- product launches
Inquire further details about this report at: [email protected]
About FutureWise Research:
We specialise in high-growth niche markets, assuring flexibility, agility and
customised solutions for our clients. Through in-depth market insights and
consultancy, we present our clients with the tools they need to be at the forefront of
their industry – a position secured for far more than the near future.
Contact Us:
Company Name: FutureWise Research
Contact Person: Vinay Thaploo
Email: [email protected]
Phone: +44 141 628 9353 / +1 970 279 4295
City: Leeds
Country: United Kingdom
Website: www.futurewiseresearch.com
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