Blockchain Identity Management Industry Potentially Worth USD 1,929 Million by 2023 in Research Report

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The blockchain identity management market size 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 key players in the Blockchain Identity Management Market include – IBM (US), AWS (US), Civic Technologies (US), KYC-Chain (Hong Kong), Bitfury (US), Evernym (US), Factom (US), Netki (US), ShoCard (US), UniquID (US), Microsoft (US), Oracle (US), Bitnation (Switzerland), Nodalblock (Spain), EdgeSecure (Airbitz) (US), Blockverify (UK), Peer Ledger (Canada),Cambridge Blockchain (US), uPort (US), Originalmy (Brazil), Neuroware (Malaysia), Tradle (US), Existenceid (Australia), Coinfirm (Poland), and BTL Group (Canada).

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APAC is expected to grow at the highest rate during the forecast period, due to the increase in venture capital funding and number of startups, and governments’ increasing focus on regulating the blockchain technology identity management market space. The key financial hubs and government organizations in APAC countries, such as Japan, Australia and New Zealand, Hong Kong, and Singapore, provide significant opportunities for the adoption of blockchain identity management solutions. Meanwhile, North America is projected to hold the largest market size during the forecast period.

The blockchain identity management market size 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 block chain identity management market is driven by various factors, such as the increasing demand for self-sovereign identification and rising security concerns with existing models across the globe. However, lack of common set of regulatory standards and uncertain regulatory landscape and concerns regarding the authenticity of the user scouldhinder the growth of the market.

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The application providers segment is the fastest growing segment in the blockchain identity management market. The market is segmented by application providers, middlew are providers, and infrastructure providers. The blockchain identity management technology’s unique capabilities, such as self-sovereign identification, authenticity, and KYC simplification, are expected to increase the demand for the blockchain identity management solutions.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the blockchain identity management marketplace.

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The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall blockchain identity management market and the sub segments.

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