Middle East and Africa Blockchain Identity Management Market, By Networks (Permissioned and Permission less), Provider (Application Providers, Middleware Providers and Infrastructure Providers), Organization Size (Large Enterprise, Small Enterprises and 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 and Others), Country (U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Surge in the adoption of advanced technologies such as artificial intelligence and block chain technology, growing need of resources and solutions that offer cost-effective and high-end security solutions and surging IT infrastructural development especially in the various developing regions of the world are the major factors attributable to the growth of the blockchain identity management market. Data Bridge Market Research analyses that the blockchain identity management market will exhibit a CAGR of 49.55% for the forecast period of 2021-2028.
The blockchain identity management technology is based on digital verification and authentication that improves the existing identity management by resolving the issues of identity theft. This technology along with providing complete and secure decentralized solutions, facilitates in supply chain visibility which in turn improves the data and product management. Further, the technology helps in providing real-time information about particular person or an entity and reduces the cost and improves operational efficiency.
Rising demand for KYC simplification and self-sovereign identification and growing on-going developments in blockchain technology will emerge as the major market growth driving factor. Surge in the demand for blockchain identity management technology by the telecom and IT industry, surge in the expenditure for research and development activities in regards to security solutions, rising data security concerns and boosting sales of smartphones in the developing economies will further aggravate the growth of the market.
However, lack of skilled workforce and technological expertise in underdeveloped and developing economies will act as a growth restraint for the market. Lack of a strong IT infrastructure and regulatory standards in developing and underdeveloped countries will yet again hamper the market growth rate. Scalability, processing power, and storage issues will also hamper the market growth rate.
This blockchain identity management market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on blockchain identity management market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Middle East and Africa Blockchain Identity Management Market Scope and Market Size
The blockchain identity management market is segmented on the basis of networks, provider, organization size, and industry. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of networks, the blockchain identity management market is segmented into permissioned and permission less.
- On the basis of provider, the blockchain identity management market is segmented into application providers, middleware providers, and infrastructure providers.
- On the basis of organization size, the blockchain identity management market is segmented into large enterprise, small enterprises and medium-sized enterprises.
- On the basis of industry, the blockchain identity management 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, and others. Others segment is sub-segmented into automotive, education and energy and utilities.
Middle East and Africa Blockchain Identity Management Market Country Level Analysis
The blockchain identity management market is analysed and market size, volume information is provided by country, networks, provider, organization size, and industry and application as referenced above.
The countries covered in the blockchain identity management market report are U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa.
South Africa in Middle East and Africa dominates the blockchain identity management market and will continue to flourish its trend of dominance during the forecast period owing to the rising demand for privacy and security solutions among enterprises, increased scalability and transaction speed, and rising security and privacy concerns.
The country section of the blockchain identity management market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Middle East and Africa Blockchain Identity Management Market Share Analysis
The blockchain identity management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to blockchain identity management market.
The major players covered in the blockchain identity management report are Amazon Web Services, Inc., Cambridge Blockchain., Microsoft, IBM, UniqID, Oracle, Bitfury Group Limited., Bitnation., EVERNYM INC., Coinfirm Limited, Civic Technologies, Inc., BTL, Existence ID, Factom., Netki, KYC-CHAIN LIMITED., Neuroware, OriginalMy., Peer Ledger Inc., Serto, Tradle, OARO, among other. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.