North America Blockchain Identity Management Market, By Networks (Permissioned, Permissionless), Provider (Application Providers, Middleware Providers, Infrastructure Providers), Organization Size (Large Enterprises, Small Enterprises, Medium-Sized Enterprises), Industry (BFSI, Government, Healthcare and Life Sciences, Telecom & IT, Retail & E-Commerce, Transport & Logistics, Real Estate, Media & Entertainment, Travel & Hospitality, Others), Country (U.S., Canada and Mexico) Industry Trends and Forecast to 2027
Blockchain identity management market is expected to gain strong market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 52.6% in the forecast period of 2020 to 2027 and is expected to reach USD 4,867.31 million by 2027. Increasing adoption of the digital technologies for the transaction, access management and others is augmenting the segment growth.
Increased use of blockchain identity management in supply chain operation to improve the efficiency and reduce the operational cost is driving the segment growth. In addition, emerging need of advanced supply chain in pandemic situation such as COVID-19 is further augmenting the market growth.
- In April 2020, IBM Corporation introduced new initiative to resolve the medical equipment shortage with the help of advanced supply chain management solution. The IBM Rapid Supplier Connect has been introduced which is blockchain-based network formed to help healthcare organizations and government agencies to find new non-traditional suppliers with the help of blockchain identity management solution for authentication.
Blockchain identity management market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Blockchain identity management market is segmented on the basis of network, provider, organization size and industry. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of networks, the blockchain identity management market is segmented into permissioned and permissionless. Permissioned networks accounted for largest market share in networks segment as it offers the most trusted solution for identity management with private networking platform. The permissioned networks require prior approval before connecting the business server, system or system which offers enhanced security. The permissioned network has low chances of data theft comparing to the permissionless network as anyone can access the network owing to its public offering.
- On the basis of provider, the blockchain identity management market is segmented into application providers, middleware providers and infrastructure providers. Infrastructure providers dominates the provider segment as it has major demand for the private infrastructure solution to meet the requirement of the organization with enhanced security. The IT infrastructure is important part of the business as it stores the information hence having blockchain based infrastructure is witnessing higher demand owing to advanced security and safety offered by the solution.
- On the basis of organization size, the blockchain identity management market is segmented into large enterprises, small enterprises and medium-sized enterprises. Large enterprises holds the largest market share in organization size segment as large enterprise can afford the solution as well as its becoming mandate solution in the current digital era to maintain security and safety of the data. The further development in cloud solution, software as a service offering and others are increasing its demand in medium and small enterprises by least possible cost solution offering.
- On the basis of industry, the blockchain identity management market is segmented into BFSI, government, healthcare and life sciences, telecom & IT, retail & e-commerce, transport & logistics, real estate, media & entertainment, travel & hospitality and others (automotive, education, and energy & utilities). The banking sector is majorly adopting blockchain identity management solution to facilitate customers with e-banking, online banking, mobile banking and other solutions. Banking, financial institutes and others need advanced solution to keep the customers’ identity secured for which blockchain identity management is a prominent solution. It offers advanced security with improved authentication, validation and authorising process.
Blockchain identity management market is analysed and market size information is provided by network, provider, organization size and industry. On the basis of country market is segmented into U.S., Canada and Mexico.
U.S. is dominating the North America as region, followed by Canada and Mexico for blockchain identity management market. The increasing digitalisation in businesses and rise of digital transactions are driving the growth of market. The U.S. country is dominating the market owing to strong infrastructure availability and acceptance for advanced technology.
The country section of the 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 new sales, replacement sales, country demographics, regulatory acts and import-export tariffs 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 sales channels are considered while providing forecast analysis of the country data.
Increased Use in Online Banking Application is Boosting the Demand of the Market in the Forecast Period
Blockchain identity management market also provides you with detailed market analysis for every country growth in sales of blockchain identity management due to changing lifestyle of the customers which prefers healthy foods along with growth in increasing disposable income is also propelling the blockchain identity management market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Blockchain Identity Management Market Share Analysis
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, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to blockchain identity management market.
The major players covered in the report are Amazon Web Services, Inc. Subsidiary of Amazon.com, Inc., Bitfury Group Limited, Cambridge Blockchain, LLC, Civic Technologies, Inc., EVERNYM INC., Factom, IBM Corporation, Netki, Microsoft, Peer Ledger Inc., uPort, UniquID, Oracle, OARO, Procivis AG and Tradle, among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launch initiated by the companies worldwide are accelerating the growth of blockchain identity management market.
- In December 2019, Bitfury Group Limited introduced new solution for the large corporation enterprise. The solution is based on the bitcoin blockchain and is called as Exonum Enterprise which helps to increase and streamline the business with enhanced transparency. The barrier for the blockchain space entry is reduced through new solution which increased its demand in the global market.
- In June 2019, Microsoft introduced new blockchain identity management tool specially designed for the identity management application. A new Identity Overlay Network or ION uses DID network to help user for personal information distribution on online platform and use it.
New product development, partnership and other strategies by the market player is enhancing the company presence in the blockchain identity management market which also provides the benefits for organization to improve their offering for blockchain identity management.
Customization Available: North America Blockchain Identity Management Market
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