Global Blockchain Identity Management Market – Industry Trends and Forecast to 2026

  • ICT
  • Published Report
  • Mar 2019
  • Global
  • 228 Pages
  • No of Tables: 54
  • No of Figures: 152

Global Blockchain Identity Management Market By Networks (Permissioned, Permissionless), Provider (Application Providers, Middleware Providers, Infrastructure Providers), Organization Size (Large Enterprise, Small Enterprises, Medium-Sized Enterprises), Industry (BFSI, Government, Healthcare and Life Sciences, Telecom and IT, Retail and E-Commerce, Transport and Logistics, Real Estate, Media and Entertainment, Travel and Hospitality, Others) and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and Middle East and Africa) – Industry Trends and Forecast to 2026

Blockchain identity management offers a secure and decentralized solution for digital identity enabling distributed trust model. The blockchain technology is transforming the existing identity management system by offering the self-sovereign identity over decentralized networks as sharing multiple IDs may lead to security concerns and data breaches. Since blockchain enables decentralization, it eliminates the aforementioned intermediaries between any interaction and communication. Blockchain technology helps improving the existing identity management by resolving the issues of identity theft, KYC onboarding, and lack of control over personal data.

The blockchain identity management solution works by registering for global ID, followed by upload of know-your-customer (KYC) documents, verification of KYC documents, generating trust score of the individual and providing a digital ID. We can implement this solution over permissioned and permissionless networks, i.e., private and public networks respectively, although permissioned networks are more secure as it allows access based on the invites only.

Blockchain identity management has been adopted by various industries such as banking, financial services, government services, telecom & IT, e-commerce, supply chain management, travel & hospitality and life sciences & healthcare among other industries, due to its transparency and security.

Global blockchain identity management market is projected to register a CAGR of 52.5% in the forecast period of 2019 to 2026.

Segmentation: Global Blockchain Identity Management Market

The global blockchain identity management market is segmented into four notable segments which are networks, provider, organization size and industry.

  • On the basis of networks, the market is segmented into permissioned and permissionless. In 2019, permissioned networks segment is likely to grow at the highest CAGR in the forecast period of 2019 to 2026.
    • In October, 2018, Civic Technologies, Inc. launched a new solution, Civic Connect. Civic Connect is an app-to-app integration which enables mobile apps to integrate Civic Secure Login and reusable KYC to authenticate users.

  • On the basis of provider, the market is segmented into application providers, middleware providers and infrastructure providers. In 2019, infrastructure providers segment is likely to grow at the highest CAGR in the forecast period of 2019 to 2026.
    • In February, 2019, Amazon Web Services announced that Clippers CourtVision has made it primary machine learning, artificial intelligence and cloud computing provider. Clippers CourtVision is an augmented game watching platform which is created by Los Angeles Clippers and Second Spectrum.

  • On the basis of organization size, the market is segmented into large enterprise, small enterprises and medium-sized enterprises. In 2019, medium-sized enterprises segment is likely to grow at the highest CAGR in the forecast period of 2019 to 2026.

    • In November, 2018, BTL Group Ltd. provided an update for Interbit megachain platform (Version III). This update offers enhanced megachain platform which is able to run 1,000,000+ chains simultaneously along with supporting complex enterprise level complications.

  • On the basis of industry, the market is segmented into BFSI, government, healthcare and life sciences, telecom and IT, retail and e-commerce, transport and logistics, real estate, media and entertainment, travel and hospitality, others (automotive, education and energy & utilities). In 2019, BFSI industry segment is likely to grow at the highest CAGR in the forecast period of 2019 to 2026.

    • In January, 2019, Bitfury Group Limited announced the release of a new division, music and entertainment. This division will be created to provide an open-source music platform, secured by the bitcoin blockchain. This new open-source platform will encourage collaboration and innovation promotion.

Competitive Analysis: Global Blockchain Identity Management Market

Some of the prominent participants operating in this market are Amazon Web Services, Inc., Bitfury Group Limited, Bitnation, Blockverify, BTL Group Ltd., Cambridge Blockchain, LLC, Civic Technologies, Inc., Coinfirm, Evernym, Inc., Factom, Existence ID, IBM Corporation, KYC-CHAIN LIMITED, Netki, Microsoft, Neuroware, OriginalMy.com, Peer Ledger, Inc., uPort, UniqID, Tradle, Oracle, ShoCard, Nodalblock among others.

Product Launch

  • In February, 2019, IBM unveiled its latest product portfolio for Internet of things (IoT) solutions which involve advanced analytics and artificial intelligence for assisting intensive organizations such as Metropolitan Atlanta Rapid Transit Authority.
  • In November, 2018, Amazon Web Services announced its 13 latest machine learning capabilities and services, which include 1/18 scale autonomous racing car for developers and a custom chip for machine learning inference.
  • In October, 2018, Civic Technologies, Inc. launched a new solution, Civic Connect. Civic Connect is an app-to-app integration which enables mobile apps to integrate Civic Secure Login and reusable KYC to authenticate users.
  • In April, 2018, BTL Group Ltd. announced the launch of Interbit platform for testing and feedback. Interbit is proprietary next-generation token free blockchain platform which is built to address the scalability and privacy shortcomings of blockchain platforms.
  • In November, 2016, Bitnation released marriage app on Ethereum Blockchain. The application went into Ethereum Hackathon. This application is a functional jurisdiction in a robust marriage contract, such as ability to choose code of arbitrator, law and create a sign, an escrow, timestamp or contract.

Research Methodology: Global Blockchain Identity Management Market

Primary Respondents: OEMs, Manufacturers, Engineers, Industrial Professionals.

Industry Participants: CEO’s, V.P.’s, Marketing/Product Managers, Market Intelligence Managers and, National Sales Managers


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