The global blockchain identity management market size was US$ 71.1 million in 2021. The global blockchain identity management market is forecast to grow to US$ 11211.60 million by 2030 by growing at a compound annual growth rate (CAGR) of 75.20% during the forecast period from 2022 to 2030.

Factors influencing the Market

The blockchain identity management market is forecast to witness robust growth due to the growing significance of identity verification during the authentication process. In addition, blockchain identity solutions become challenging due to risks like identity theft, username and password combinations, know your customer (KYC) onboarding, and lack of control. Blockchain identity management can play a potential role in overcoming these challenges, which will accelerate the growth of the global blockchain identity management market.

The growing advancements in technology are also boosting cybersecurity threats. As a result, it surges the demand for effective and reliable assistance like blockchain identity management, which will contribute to the growth of the market in the coming years.

The exponential growth of the e-commerce, baking, and finance sector will contribute to the growth of the blockchain identity management market during the study period. In addition, initiatives from the government bodies to promote the use of advanced technologies will benefit the global blockchain identity management market.

The lack of knowledge related to blockchain technology may limit the growth of the market during the study period.

COVID-19 Impact Analysis

The global blockchain identity management market gained rapid traction during the COVID-19 pandemic. The main factors were the booming remote working culture and rising demand for safety solutions. Due to the pandemic, the majority of the offices began operating remotely. Thus, it became essential to adopt blockchain identity management solutions to ensure identity protection and authentication. Furthermore, the sudden expansion of e-commerce and terrific boom in digital currency has further surged the demand for the global blockchain identity management market.

Regional Analysis

North America is forecast to dominate the global blockchain identity management market in terms of revenue. Asia-pacific is forecast to emerge as the second-largest blockchain identity management market during the study period. The growth of these markets is attributed to the presence of prominent market players like IBM, Civic Technologies, etc. In addition, growing concerns related to data security and management will escalate the growth of the blockchain identity management market.

Competitors in the Market

IBM
AWS
Civic Technologies
Bitfury
Evernym
Netki
ShoCard
UniquID
Microsoft
Bitnation
Nodalblock
EdgeSecure
Blockverify
Peer Ledger
Cambridge Blockchain
Neuroware
Other Prominent Players
Market Segmentation

The global blockchain identity management market segmentation focuses on Provider, Type, and Region.

Based on Provider

Application Providers
Middleware Providers
Infrastructure Providers
Based on Type

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)
Based on Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America