How has the blockchain identity management market evolved, and where is it heading next?
The blockchain identity management market size has grown exponentially in recent years. It will grow from $2.8 billion in 2024 to $4.91 billion in 2025 at a compound annual growth rate (CAGR) of 75.2%. The growth in the historic period can be attributed to rising concerns over data privacy, growing cybersecurity threats, regulatory compliance requirements, the proliferation of digital transactions, trust and transparency, cost efficiency, and interoperability needs.
The blockchain identity management market size is expected to see exponential growth in the next few years. It will grow to $45.92 billion in 2029 at a compound annual growth rate (CAGR) of 74.9%. The growth in the forecast period can be attributed to the emergence of decentralized identity standards, integration with emerging technologies, a focus on user-centric identity solutions, industry collaboration and consortia, regulatory evolution, globalization, and cross-border identity management. Major trends in the forecast period include interoperable identity solutions, convergence with DEFI, a focus on privacy-enhancing technologies, AI and machine learning integration, blockchain governance models, the emergence of tokenized identity, and regulatory sandbox initiatives.
Get Your Free Sample of The Global Blockchain Identity Management Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=16360&type=smp
What are the key drivers behind the rapid expansion of the blockchain identity management market?
The rise in data security concerns is expected to propel the growth of the blockchain identity management market going forward. Data security concerns refer to issues related to the protection of data from unauthorized access, breaches, theft, and corruption. The increasing number of data security concerns can be attributed to the rising sophistication of cyber threats, the expanding digital footprint of individuals and organizations, the proliferation of interconnected devices and IoT systems, and the growing reliance on cloud services and remote work arrangements. Blockchain technology enhances digital identity management by providing decentralized, immutable, and cryptographically secure solutions, thereby significantly reducing the risk of cyber threats and improving data security. For instance, in January 2023, according to a report by Check Point, an Israel-based software security provider, there was a 38% surge in global cyberattacks in 2022 compared to 2021. The communications industry experienced an average of 1,380 attacks per organization per week, marking a 27% increase compared to 2021. Similarly, the Internet service provider/managed service provider (ISP/MSP) industry encountered an average of 1,372 attacks per organization per week in 2022, reflecting a 28% increase from the previous year. Therefore, a rise in data security concerns is driving the blockchain identity management market.
What is the segmentation for the blockchain identity management market?
The blockchain identity management market covered in this report is segmented –
1) By Offering: Software, Services
2) By Network: Permissioned, Permissionless
3) By Provider Type: Application Provider, Middleware Provider, Infrastructure Provider
4) By Enterprise Size: Small And Medium Enterprises, Large Enterprise
5) By Industry Vertical: Banking, Financial Services And Insurance (BFSI), Government, Retail, Automotive And Transportation, Healthcare, Other Industry Verticals
Subsegments:
1) By Software: Identity Verification Software, Access Management Software, Decentralized Identity Solutions, Identity Authentication Software, Blockchain-Based Digital Identity Platforms
2) By Services: Consulting Services, Integration Services, Support And Maintenance Services, Identity-As-A-Service (Idaas), Blockchain-Based Identity Governance Services
Order your report now for swift delivery
Who are the most influential companies in the blockchain identity management market?
Major companies operating in the blockchain identity management market are Microsoft Corporation, Amazon Web Services Inc. (AWS), International Business Machines Corporation (IBM), Oracle Corporation, NEC Corporation, Unum ID Inc., Wipro Limited, SpringRole Inc., Bitfury Group Limited, Dock Labs AG, Antier Solutions Private Limited, Civic Technologies Inc., Evernym Inc., Jolocom GmbH, BTL Group, Blockpass IDN Ltd., Blockstack PBC, ConsenSys, Symbiont Inc, Sovrin Foundation Inc., SelfKey Foundation Ltd., Factom Inc., ChainGuardian Inc., Netki Inc., ShoCard Inc.
What are the most influential trends expected to drive the blockchain identity management market forward?
Major companies operating in the blockchain identity management market are adopting a strategic partnership approach to enhance compliance and risk management services in the digital asset space, which includes aspects of identity verification and management. Strategic partnerships refer to a process in which companies leverage each other’s strengths and resources to achieve mutual benefits and success. For instance, in November 2022, K2 Integrity, a US-based risk advisory firm, partnered with TRM Labs, a US-based blockchain intelligence company. As a result of the partnership, TRM Labs’ leading blockchain forensics and compliance tools will be integrated with K2 Integrity’s extensive expertise in risk management, investigations, and compliance advisory. This collaboration will support global institutions and public sector authorities in assessing virtual asset risks and developing effective mitigation strategies. The partnership also aims to strengthen connections between traditional finance (TradFi), virtual asset service providers, and public sector agencies to promote the safe and scalable growth of blockchain and virtual assets.
What are the major regional insights for the blockchain identity management market, and which region holds the top position?
North America was the largest region in the blockchain identity management market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the blockchain identity management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Blockchain Identity Management Market Report 2025 Offer?
The blockchain identity management market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Blockchain identity management refers to the use of blockchain technology to create a secure and decentralized way of managing digital identities. It ensures that identity information is tamper-proof, verifiable, and accessible only to authorized parties. This approach reduces the risk of identity theft, enhances privacy, and provides users with greater control over their personal data.
Purchase the exclusive report now to unlock valuable market insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=16360
About The Business Research Company
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
