DUBLIN, Nov. 1, 2023 /PRNewswire/ — The “Decentralized Identity Market Size, Share & Trends Analysis Report By Identity Type (Biometrics, Non-biometrics), By End-user (Individual, Enterprises), By Enterprise Size, By Vertical, By Region, And Segment Forecasts, 2023 – 2030” report has been added to ResearchAndMarkets.com’s offering.
The global decentralized identity market size is projected to reach USD 102.00 billion by 2030, growing at a CAGR of 90.3% from 2023 to 2030
The rising need for interoperability between different identity systems is accentuating the acceptance of decentralized identity. In today’s interconnected world, individuals often interact with multiple platforms and services that have their separate identity systems.Decentralized identity solutions provide a standardized framework for identity verification that can be seamlessly integrated across various platforms, enabling interoperability and enhancing user convenience. Furthermore, the impulse for self-sovereign identity is an important driver for market growth. Decentralized identity solutions empower individuals with self-sovereign identities, giving them the freedom to manage and share their identity information as they see fit.Decentralized identification is an emerging concept that restores consumers’ control over their identities by enabling them to acquire verifiable information from certified issuers through an identity wallet, such as the Government. Users can effectively control their online identity and privacy by restricting the data that is conveyed from the wallet to a third person. Furthermore, decentralized IDs would assist individuals who have been the targets of a security breach due to the negligence of a third person.The COVID-19 pandemic has had an affirmative impact on the market, driving its growth and adoption. With the pandemic necessitating remote work, online services, and digital interactions, the demand for secure and reliable digital identity solutions has surged.
Decentralized identity systems, based on blockchain technology, offer a robust and privacy-enhancing alternative to traditional centralized identity management systems.Decentralized Identity Market Report Highlights
In terms of identity type, the biometrics segment is anticipated to register the fastest CAGR of 91.5% over the forecast period. The increasing launches of biometric identification platforms from some of the major firms, including, Innovatrics, and IDEMIA, among others, are expected to drive the growth of the segmentIn terms of end-user, the individual segment is projected to register the fastest CAGR of 91.6% over the forecast period as individuals progressively recognize the benefits of owning and managing their own digital identities. With rising concerns about privacy and data security, individuals are seeking decentralized identity solutions that provide them with greater control, transparency, and trust in their online interactionsIn terms of enterprise size, the small & medium enterprises segment is anticipated to register the fastest CAGR of 90.8% over the forecast period. The growth of the segment can be attributed to the growing digitalization across all SMEs worldwideIn terms of vertical, the BFSI segment dominated the market in 2022 with a revenue share of 18.96%. The BFSI industry recognizes the potential of decentralized identity solutions in improving customer authentication, preventing fraud, and improving regulatory compliance. Therefore, BFSI organizations are actively adopting decentralized identity technologies to improve their digital identity management capabilities and ensure secure and trusted interactions with their customersIn terms of region, the Asia Pacific regional market is projected to register the fastest CAGR of 91.9% over the forecast period. The increasing demand for decentralized identity solutions across the region is anticipated to play a vital role in driving the growth of the regional marketCompany Profiles
Microsoft CorporationAccenture plcWipro Limited and SubsidiariesSecure Technologies, Inc.Persistent Systems LimitedAvast Software s.r.o.Civic Technologies, Inc.R3Validated ID, SLDragonchainNuggets1Kosmos, Inc.Key Topics Covered: Chapter 1. Methodology and Scope1.1. Market Segmentation & Scope1.2. Market Definitions1.3. Information Procurement1.4. Information Analysis1.5. Research Scope and Assumptions1.6. List of Data SourcesChapter 2. Executive Summary2.1. Market Outlook2.2. Segmental Outlook2.3. Competitive Landscape SnapshotChapter 3. Market Variables, Trends, and Scope3.1. Market Lineage Outlook3.2. Industry Value Chain Analysis3.3. Market Dynamics3.3.1. Market Driver Impact Analysis3.3.1.1. Increasing thefts and fraudulent incidences3.3.1.2. Increasing applications of blockchain technology3.3.2. Market Challenge Impact Analysis3.3.2.1. Uncertain regulatory status3.4. Impact of COVID-19 Pandemic3.5. Industry Analysis Tools3.5.1. Porter’s Analysis3.5.2. PESTEL AnalysisChapter 4. Decentralized Identity Market: Identity Type Estimates & Trend Analysis4.1. Identity Type Movement Analysis & Market Share, 2022 & 20304.2. Decentralized Identity Market Estimates & Forecast, By Identity Type4.2.1. Non-biometrics4.2.2. BiometricsChapter 5. Decentralized Identity Market: End-user Estimates & Trend Analysis5.1. End-user Movement Analysis & Market Share, 2022 & 20305.2. Decentralized Identity Market Estimates & Forecast, By End-user5.2.1. Enterprises5.2.2. IndividualChapter 6. Decentralized Identity Market: Enterprise Size Estimates & Trend Analysis6.1. Enterprise Size Movement Analysis & Market Share, 2022 & 20306.2. Decentralized Identity Market Estimates & Forecast, By Enterprise Size6.2.1. Large Enterprises6.2.2. Small & Medium-Sized Enterprises (SMEs)Chapter 7. Decentralized Identity Market: Vertical Estimates & Trend Analysis7.1. Vertical Movement Analysis & Market Share, 2022 & 20307.2. Decentralized Identity Market Estimates & Forecast, By Vertical7.2.1. BFSI7.2.2. Government7.2.3. Healthcare & Life Sciences7.2.4. Telecom & IT7.2.5. Retail & E-commerce7.2.6. Transport & Logistics7.2.7. Real Estate7.2.8. Media & Entertainment7.2.9. Travel & Hospitality7.2.10. OthersChapter 8. Decentralized Identity Market: Regional Estimates & Trend Analysis8.1. Decentralized Identity Market: Regional OutlookChapter 9. Competitive Landscape9.1. Company Categorization9.2. Participant’s Overview9.3. Financial Performance9.4. Product Benchmarking9.5. Company Market Positioning9.6. Company Market Share Analysis, 20229.7. Company Heat Map Analysis9.8. Strategy Mapping9.8.1. Expansion9.8.2. Collaborations9.8.3. Mergers & Acquisitions9.8.4. New Product Launches9.8.5. Partnerships
For more information about this report visit https://www.researchandmarkets.com/r/z0gh9d
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DUBLIN, Nov. 1, 2023 /PRNewswire/ — The “Decentralized Identity Market Size, Share & Trends Analysis Report By Identity Type (Biometrics, Non-biometrics), By End-user (Individual, Enterprises), By Enterprise Size, By Vertical, By Region, And Segment Forecasts, 2023 – 2030″ report has been added to ResearchAndMarkets.com’s offering.
The global decentralized identity market size is projected to reach USD 102.00 billion by 2030, growing at a CAGR of 90.3% from 2023 to 2030
The rising need for interoperability between different identity systems is accentuating the acceptance of decentralized identity. In today’s interconnected world, individuals often interact with multiple platforms and services that have their separate identity systems.
Decentralized identity solutions provide a standardized framework for identity verification that can be seamlessly integrated across various platforms, enabling interoperability and enhancing user convenience. Furthermore, the impulse for self-sovereign identity is an important driver for market growth. Decentralized identity solutions empower individuals with self-sovereign identities, giving them the freedom to manage and share their identity information as they see fit.
Decentralized identification is an emerging concept that restores consumers’ control over their identities by enabling them to acquire verifiable information from certified issuers through an identity wallet, such as the Government. Users can effectively control their online identity and privacy by restricting the data that is conveyed from the wallet to a third person. Furthermore, decentralized IDs would assist individuals who have been the targets of a security breach due to the negligence of a third person.
The COVID-19 pandemic has had an affirmative impact on the market, driving its growth and adoption. With the pandemic necessitating remote work, online services, and digital interactions, the demand for secure and reliable digital identity solutions has surged.
Decentralized identity systems, based on blockchain technology, offer a robust and privacy-enhancing alternative to traditional centralized identity management systems.
Decentralized Identity Market Report Highlights
In terms of identity type, the biometrics segment is anticipated to register the fastest CAGR of 91.5% over the forecast period. The increasing launches of biometric identification platforms from some of the major firms, including, Innovatrics, and IDEMIA, among others, are expected to drive the growth of the segmentIn terms of end-user, the individual segment is projected to register the fastest CAGR of 91.6% over the forecast period as individuals progressively recognize the benefits of owning and managing their own digital identities. With rising concerns about privacy and data security, individuals are seeking decentralized identity solutions that provide them with greater control, transparency, and trust in their online interactionsIn terms of enterprise size, the small & medium enterprises segment is anticipated to register the fastest CAGR of 90.8% over the forecast period. The growth of the segment can be attributed to the growing digitalization across all SMEs worldwideIn terms of vertical, the BFSI segment dominated the market in 2022 with a revenue share of 18.96%. The BFSI industry recognizes the potential of decentralized identity solutions in improving customer authentication, preventing fraud, and improving regulatory compliance. Therefore, BFSI organizations are actively adopting decentralized identity technologies to improve their digital identity management capabilities and ensure secure and trusted interactions with their customersIn terms of region, the Asia Pacific regional market is projected to register the fastest CAGR of 91.9% over the forecast period. The increasing demand for decentralized identity solutions across the region is anticipated to play a vital role in driving the growth of the regional market
Company Profiles
Microsoft CorporationAccenture plcWipro Limited and SubsidiariesSecure Technologies, Inc.Persistent Systems LimitedAvast Software s.r.o.Civic Technologies, Inc.R3Validated ID, SLDragonchainNuggets1Kosmos, Inc.
Key Topics Covered:
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definitions
1.3. Information Procurement
1.4. Information Analysis
1.5. Research Scope and Assumptions
1.6. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, and Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market Driver Impact Analysis
3.3.1.1. Increasing thefts and fraudulent incidences
3.3.1.2. Increasing applications of blockchain technology
3.3.2. Market Challenge Impact Analysis
3.3.2.1. Uncertain regulatory status
3.4. Impact of COVID-19 Pandemic
3.5. Industry Analysis Tools
3.5.1. Porter’s Analysis
3.5.2. PESTEL Analysis
Chapter 4. Decentralized Identity Market: Identity Type Estimates & Trend Analysis
4.1. Identity Type Movement Analysis & Market Share, 2022 & 2030
4.2. Decentralized Identity Market Estimates & Forecast, By Identity Type
4.2.1. Non-biometrics
4.2.2. Biometrics
Chapter 5. Decentralized Identity Market: End-user Estimates & Trend Analysis
5.1. End-user Movement Analysis & Market Share, 2022 & 2030
5.2. Decentralized Identity Market Estimates & Forecast, By End-user
5.2.1. Enterprises
5.2.2. Individual
Chapter 6. Decentralized Identity Market: Enterprise Size Estimates & Trend Analysis
6.1. Enterprise Size Movement Analysis & Market Share, 2022 & 2030
6.2. Decentralized Identity Market Estimates & Forecast, By Enterprise Size
6.2.1. Large Enterprises
6.2.2. Small & Medium-Sized Enterprises (SMEs)
Chapter 7. Decentralized Identity Market: Vertical Estimates & Trend Analysis
7.1. Vertical Movement Analysis & Market Share, 2022 & 2030
7.2. Decentralized Identity Market Estimates & Forecast, By Vertical
7.2.1. BFSI
7.2.2. Government
7.2.3. Healthcare & Life Sciences
7.2.4. Telecom & IT
7.2.5. Retail & E-commerce
7.2.6. Transport & Logistics
7.2.7. Real Estate
7.2.8. Media & Entertainment
7.2.9. Travel & Hospitality
7.2.10. Others
Chapter 8. Decentralized Identity Market: Regional Estimates & Trend Analysis
8.1. Decentralized Identity Market: Regional Outlook
Chapter 9. Competitive Landscape
9.1. Company Categorization
9.2. Participant’s Overview
9.3. Financial Performance
9.4. Product Benchmarking
9.5. Company Market Positioning
9.6. Company Market Share Analysis, 2022
9.7. Company Heat Map Analysis
9.8. Strategy Mapping
9.8.1. Expansion
9.8.2. Collaborations
9.8.3. Mergers & Acquisitions
9.8.4. New Product Launches
9.8.5. Partnerships
For more information about this report visit https://www.researchandmarkets.com/r/z0gh9d
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets
