Blockchain Identity Management Market Growth, Trends and Forecast 2023-2028

IMARC Group, a leading market research company, has recently releases report titled “Blockchain Identity Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global blockchain identity management market growth, share, size and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How Big is the Blockchain Identity Management Market?

The global blockchain identity management market size reached US$ 797.7 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 36,591.4 Million by 2028, exhibiting a growth rate (CAGR) of 84% during 2023-2028.

What is Blockchain Identity Management?

Currently, there is a notable upsurge in cyber-attacks and data breaches targeting the sensitive information of private companies and government organizations worldwide. This, coupled with the increasing demand for efficient identity management frameworks in various organizations to comply with regulations and monitor employee activities, serves as a significant driver for the market.

Furthermore, there is a rising need for self-sovereign identification technology across diverse industries, allowing for minimal storage of users’ personal data while enhancing the identification process’s efficiency, thereby fueling market growth. The adoption of blockchain identity management is also on the rise, as it enables the establishment of trust and transaction transparency between businesses, ensuring data authenticity.

Governments in several countries are taking initiatives to promote the implementation of blockchain identity management to achieve enhanced scalability and transaction speed. Additionally, factors such as the growing sales of smartphones, especially in developing nations, and the increasing global proliferation of the internet contribute to market expansion.

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What are the growth prospects and trends in the blockchain identity management industry?

The increasing awareness about crop losses due to pest attacks represents one of the primary factors driving the demand for nematicides around the world. Moreover, the rising need for nematicides to enhance overall agricultural production and protect adequate food availability for the continuously growing global population is favoring the growth of the market.

In addition, the growing usage of non-fumigant nematicides that can be applied before, during, or after planting through drip irrigation, soil drenching, or spraying onto the crop foliage to minimize population densities of nematodes and protect crops from damage is influencing the market positively.

Apart from this, leading players are introducing bionematicides that are environment friendly, selective, less toxic, and safer to use. Along with this, significant growth in the agriculture industry and the increasing adoption of organic farming practices worldwide are strengthening the market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Component:

  • Platform
  • Services

Breakup by Provider:

  • Application Providers
  • Middleware Providers
  • Infrastructure Providers

Breakup by Organization Size:

  • Large Enterprises
  • Small and Medium-sized Enterprises (SMEs)

Breakup by Industry Vertical:

  • 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

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

Amazon Web Services Inc. ( Inc.), Bitfury Group Limited, Blockchains Inc., Civic Technologies Inc., Cognizant, Evernym Inc. (Avast Software s.r.o.), Infosys Limited, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation and Tata Consultancy Services Limited (Tata Group).

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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