Global Blockchain Identity Management Market to 2023: Market to Grow at a CAGR of 84.5%

June 8, 2018 | By Newswire | Filed in: Press Releases.

The blockchain identity management market is expected to grow from USD 90.4 Million in 2018 to USD 1,929.9 Million by 2023, at a Compound Annual Growth Rate (CAGR) of 84.5% during the forecast period.

The major driving factors in the market are, rising security concerns with existing models across the globe, growing demand for blockchain identity solutions across industry verticals and for self-sovereign identification, and easing the business functions through high-transaction speed and immutability.

The blockchain identity management market research study aims at estimating the market size and future growth potential of the market across segments, such as provider, vertical, and region. The vertical segment covers Banking, Financial Services and Insurance (BFSI); government; healthcare and life sciences; telecom and IT; retail and e-commerce; transport and logistics; real estate; media and entertainment; travel and hospitality; and others (automotive, education, and energy & utilities).

The real estate vertical is expected to grow at the highest CAGR during the forecast period. The blockchain technology for identity management’s solution and services’ various advantages, such as the integration and the verification of the users more accurately, while addressing the challenges pertaining to the data management and privacy will encourage organizations to adopt the blockchain identity management solutions on a large scale.

The blockchain identity management market has been segmented on the basis of providers into 3 categories: application providers, middleware providers, and infrastructure providers. These providers offer infrastructure to develop in the blockchain-based platforms. Among these types, the application providers type is the fastest growing segment in the overall market. The introduction of technologically advanced blockchain solutions has witnessed a certain level of adoption across industry verticals thereby fueling the overall market growth.

In terms of geographic coverage, the blockchain identity management market has been segmented into 5 major regions, namely, North America, Asia Pacific (APAC), Europe, the Middle East and Africa (MEA), and Latin America. North America is estimated to hold the largest size of the overall market in 2018. North America is considered the most advanced region in terms of technology adoption and infrastructure. The strong presence of key industry players of blockchain technology solutions in the region is the main driving factor for the market. Various organizations including governments in North America are adopting the blockchain identity management technology.

Furthermore, APAC is expected to grow at the highest rate during the forecast period, due to the increasing venture capital funding, significant growth in the number of startups venturing into the marketspace, and governments focusing on regulating the blockchain technology. The key financial hubs and government organizations in major APAC countries, such as Japan, Australia, New Zealand, Hong Kong, and Singapore, provide many opportunities for the adoption of the blockchain identity management solutions. However, lack of common set of regulatory standards and uncertain regulatory landscape and concerns over the authenticity of the user can hinder the growth of the market in various regions.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Blockchain Identity Management Market
4.2 Market By Provider and Top 3 Regions, 2018
4.3 Market By Organization Size, 2018
4.4 Market Investment Scenario
4.5 Market Top 3 Verticals

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Security Concerns Across the Globe With the Traditional Identity Management Models
5.2.1.2 Growing Demand for Blockchain Identity Solutions Across Industry Verticals
5.2.1.3 Increasing Demand for Self-Sovereign Identification
5.2.1.4 Easing Business Functions Through High Transaction Speed and Immutability
5.2.2 Restraints
5.2.2.1 Concerns Related to the Authenticity of Users
5.2.2.2 Uncertain Regulatory Status and Lack of A Common Set of Standards
5.2.3 Opportunities
5.2.3.1 Extensive Applications of Blockchain Identity Solutions in Banking, Cybersecurity, and IoT
5.2.4 Challenges
5.2.4.1 Lack of Awareness About the Blockchain Technology
5.2.4.2 Lack of Skillsets, Technical Knowledge, and Understanding About the Blockchain Concept
5.3 Industry Trends
5.3.1 Types of Blockchain Technology
5.3.1.1 Private Blockchain
5.3.1.2 Public Blockchain
5.3.2 Blockchain Associations and Consortiums
5.3.2.1 Enterprise Ethereum Alliance (EEA)
5.3.2.2 Hyperledger Consortium
5.3.2.3 Global Blockchain Business Council
5.3.2.4 Blockchain Collaborative Consortium (BCCC)
5.3.2.5 R3cev Blockchain Consortium
5.3.2.6 Cls Group
5.3.2.7 Global Payments Steering Group (GPSG)
5.3.2.8 Financial Blockchain Shenzhen Consortium (FBSC)
5.3.2.9 CU Ledger
5.4 Regulatory Landscape
5.4.1 Know Your Customer (KYC)
5.4.2 Anti Money Laundering
5.4.3 General Data Protection Regulation (GDPR)
5.5 Digital Identity Implementation on Public and Private Blockchains
5.5.1 Closed Blockchain
5.5.2 Open Blockchain
5.6 Innovation Spotlight

6 Blockchain Identity Management Market, By Provider
6.1 Introduction
6.1.1 Blockchain-Based Digital Identity Management
6.1.1.1 Self-Sovereign Identity
6.1.1.2 Handshake Mechanism
6.2 Application Providers
6.3 Middleware Providers
6.4 Infrastructure Providers

7 Blockchain Identity Management Market, By Organization Size
7.1 Introduction
7.2 Large Enterprises
7.3 Small and Medium-Sized Enterprises

8 Blockchain Identity Management Market, By Vertical
8.1 Introduction
8.2 Banking, Financial Services, and Insurance
8.3 Government
8.4 Healthcare and Life Sciences
8.5 Telecom and IT
8.6 Retail and Ecommerce
8.7 Transport and Logistics
8.8 Real Estate
8.9 Media and Entertainment
8.10 Travel and Hospitality
8.11 Others

9 Blockchain Identity Management Market, By Region

10 Competitive Landscape
10.1 Overview
10.2 Competitive Situations and Trends
10.2.1 New Product Launches/Product Enhancements
10.2.2 Business Expansions
10.2.3 Partnerships, Agreements, and Collaborations
10.2.4 Mergers and Acquisitions

11 Company Profiles
11.1 Introduction
11.2 AWS
11.3 Bitfury
11.4 Civic Technologies
11.5 IBM
11.6 BTL Group
11.7 Evernym
11.8 Factom
11.9 KYC-Chain
11.10 Netki
11.11 ShoCard
11.12 Tradle
11.13 UniqID
11.14 Key Innovators
11.14.1 Bitnation
11.14.2 Blockverify
11.14.3 Cambridge Blockchain
11.14.4 Coinfirm
11.14.5 Existenceid
11.14.6 Microsoft
11.14.7 Neuroware
11.14.8 Nodalblock
11.14.9 Oracle
11.14.10 Originalmy
11.14.11 Peer Ledger
11.14.12 uPort

For more information about this report visit https://www.researchandmarkets.com/research/xcfzrz/global_blockchain?w=5

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SOURCE Research and Markets

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