The report provides a comprehensive analysis of segments in the Decentralized Identity Market, covering all the major regions and countries. The major regions analyzed in the study are North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The report also includes additional information about other factors such as drivers, restraints and challenges faced by this market along with an overview for each mentioned segment in the study.
An overview of the “Decentralized Identity Market” the current state of the industry, market trends, significant market participants, product type, application, and geography are provided at the beginning of the study. It also covers how COVID-19 has affected market participants, end-user industries, future predictions, growth potential, and worldwide market trends.
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Global Decentralized Identity Market is valued at approximately USD 151.03 million in 2021 and is anticipated to grow with a healthy growth rate of more than 88.7% over the forecast period 2022-2028.
A decentralized identity is an approach to identity and access management (IAM). It enables users to create and control their own digital identity without relying on a particular service vendor. Factors such as the growing instances of security breaches and identity-related fraud, the rising need for non-human digital IDs and security in consumer goods, coupled with the increasing number of tactical initiatives by the key companies are some prominent factors that impel the global market demand. For instance, in March 2022, SecureKey was acquired by Avast with the aim of accessing Avast decentralized identity expertise and large customer base. Also, it will help Avast to expand its geographic footprints. Likewise, in April 2021, Accenture entered into a partnership agreement with Nuggets- a self-sovereign digital ID and payments platform.
The objective of this partnership is to support Nuggets to enhance and develop the company’s business models and decentralized identity technologies. Accordingly, the rising number of strategic actions by the market players is fostering the demand for a decentralized identity, which boosts market growth across the globe. However, a lack of technical knowledge and understanding of the blockchain concept, along with the uncertain regulatory status and unavailability of a common set of standards curbs the growth of the market over the forecast period of 2022-2028. Also, the rising integration of blockchain in decentralized identity and the growing adoption of SSIs are anticipated to act as a catalyzing factor for the market demand during the forecast period.
The key regions considered for the global Decentralized Identity Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the rising adoption of various novel technologies, and the presence of various prominent market players such as Microsoft, Serto, Dragonchain, Civic Technologies, and many others. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the increasing number of criminal activities, and the growth of banking, cybersecurity and IoT sectors, would create lucrative growth prospects for the Decentralized Identity Market across the Asia-Pacific region.
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Major market players included in this report are:
- Microsoft
- Accenture
- Persistent
- Wipro
- SecureKey Technologies
- Validated ID
- Serto
- Ping Identity
- Dragonchain
- Datarella
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Identity Type:
Non- biometrics
Biometrics
By Organization Size:
Large Enterprises
Small and Medium Enterprises
By Verticals:
BFSI
Government
Healthcare and life sciences
Telecom and IT
Retail & E-Commerce
Other Verticals
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Table of content
Market Overview
Market Definition and Scope
Market Dynamics
Market Industry Analysis
Market, Regional Analysis
Analysis of Leading Companies
Competitive Intelligence
Research Process
Market Analysis and Forecast, By Product Types
Some of the Key Questions Answered in this Report:
- What is the Market dimension at the regional and country-level?
- What are the key drivers, restraints, opportunities, and challenges of the Market, and how they are anticipated to influence the market?
- What is the international (North America, Europe, Asia-Pacific, South America, Middle East and Africa) income value, manufacturing value, consumption value, import and export of Market?
- Who are the world key producers of the Market Industry? How is their working state of affairs (capacity, production, sales, price, cost, gross, and revenue)?
- What are the Market possibilities and threats confronted via the carriers in the world Market Industry?
- Which application/end-user or product kind may also be seeking for incremental boom prospects? What is the market share of every kind and application?
- What targeted method and constraints are keeping the Market?
- What are the distinct sales, marketing, and distribution channels in the world industry?
- What are the upstream uncooked substances and manufacturing gear of Market alongside with the manufacturing technique of Market?
- What are the key market tendencies impacting the increase of the Market?
- Economic have an impact on the Market enterprise and improvement vogue of the Market industry.
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