Rise in transactions transparency, surge in need to ensure quality, reliability, authenticity,& product safety, and increase in investment by retail industries in blockchain-based solutions propel the growth of the global blockchain identity management market. Moreover, based on geography, the North America region held the largest market share in 2018, and is anticipated to dominate the market throughout the study period.
Portland, OR, May 12, 2020 (GLOBE NEWSWIRE) — As per the report published by Allied Market Research, the global blockchain identity management market was pegged at $107 million in 2018 and is anticipated to reach $11.46 billion by 2026, registering a CAGR of 79.2% during the study period. The report offers a detailed analysis of value chain, market dynamics, top winning strategies, key segments, business performance, and competitive landscape.
Increase in transactions transparency, rise in need to ensure quality, reliability, authenticity,& product safety, and rise in investment by retail industries in blockchain-based solutions augment the growth of the global blockchain identity management market. However, lack of skilled experts restrain the growth to some extent. Moreover, rapidly changing retail sector and international trade is anticipated to pave the way for multiple opportunities for the key players in the market.
The global blockchain identity management market is segmented on the basis of service providers, organization size, industry vertical, and region. Based on service provider, the market is classified into application provider, middleware provider, and infrastructure provider. The infrastructure provider segment contributed to the largest market share, accounting for more than half of the global blockchain identity management market share in 2018, and is projected to dominate throughout the study period. On the other hand, the application provider segment would showcase the fastest CAGR of 84.8% by the end of 2026.
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Based on organization size, the market is bifurcated into large enterprises and small & medium enterprises. The large enterprises segment contributed for more than four-fifths of the global blockchain identity management market revenue in 2018, and is anticipated to rule the roost during the estimated period. Contrarily, the small & medium enterprises segment would grow at the fastest CAGR of 85.7% throughout the forecast period.
Based on geography, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The region across North America held the largest share in 2018, generating nearly half of the global blockchain identity management market. On the other hand, the region across Asia-Pacific, would cite the fastest CAGR of 89.7% by 2026.
The key blockchain identity management industry players profiled in the report include Auxesis Services & Technologies (P) Ltd., Cognizant, Infosys Limited, International Business Machines Corporation (IBM), Microsoft Corporation, Oracle Corporation, SAP SE, and Tata Consultancy Services Limited, Bitfury Group Limited, and Amazon Web Services, Inc. (AWS).
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