Blockchain Identity Management is an identity management tool consisting of a blockchain-based digital verification and authentication process. Blockchain identity management tools store and encrypt data on the user's mobile device rather than in a central database. Blockchain technology uses encryption to store and connect data blocks across virtual networks. Every information block contains a complete and accurate record of all transactions.
In 2018, the Blockchain identity management market was valued above USD 60 Million and is expected to grow at a CAGR of 55% by 2027.
Recently, the use of digital media for data transmission related to user identification is increasing. In addition, there is an increasing demand for decentralized information solutions that can defend data from potential cyber-attacks.. The changing trend towards providers' service-based models represents a notable market share of the services sector in the global blockchain identity management market. Government regulations, such as the European Union's GDPR, the NDB scheme in Australia, and the cybersecurity requirements of New York State financial services companies, have highlighted the need for identity management for business and personal users. This will allow market players to provide optimized identity management based on blockchain technology in accordance with the revised regulations.
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Top Key Players are Cambridge Blockchain, LLC., Civic Technologies, Inc., EVERNYM INC., IBM Corporation, IdRamp, Keyp GmbH, Netki, NewBanking, Oracle, PeerMountain, SecureKey Technologies Inc., SelfKey Foundation, ShoCard, SingleSource, TheKey BDMI International Foundation Ltd., Trusted Key, UniquID, Inc., uPortAmongst Others.
Blockchain Identity Management Market
By End Users
- Small and Medium Enterprises
- Large Enterprises
By Regional outlook-
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The objective of the Report
- Banking, Financial Services and Insurance (BFSI)
- Media and Entertainment
- Others (Government, Healthcare, Etc.)
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- To analyze strategies/developments such as collaborations, agreements, partnerships, mergers and acquisitions, and product launches and developments in the Blockchain Identity Management
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Blockchain Identity Management.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Blockchain Identity Management
- The key findings and recommendations highlight crucial progressive industry trends in the Blockchain Identity Management, thereby allowing players to develop effective long term strategies
- To strategically analyze micro-markets with respect to individual growth trends, prospects, and contributions to the total market
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- It takes a closer and analytical look at the various companies that are striving for the global Blockchain Identity Management. To get more clients rapidly, different applicable sales strategies have been mentioned in the report. A notable feature of the report is an analysis of applications, end-users, size, and technical platforms.
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