Blockchain Identity Management Market

The global blockchain identity management market size is projected to grow from USD 1.3 billion in 2023 to USD 35.1 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 92.7% during the forecast period.

The growth of the blockchain identity management market is driven by the rapid expansion of the digital identity ecosystem, leading to a strong demand for robust blockchain identity management measures that can protect digital identities across online platforms.

Top Blockchain Identity Management Companies:

• AWS (US)
• IBM (US)
• Oracle (US)
• Microsoft (US)
• Bitfury (US)
• NEC (Japan)
• Dock (Switzerland)

Partnerships, agreements, collaborations, acquisitions, and product developments are some of the various growth strategies by these players to increase their market presence.

AWS (US):

• AWS (US)is a leading provider of cloud computing services, offering a comprehensive range of infrastructure and platform solutions. With a global network of data centers, AWS ensures high availability and low latency for its services. It provides flexible pricing models, making it suitable for businesses of all sizes. AWS serves a diverse customer base across technology, healthcare, finance, gaming, media, and government verticals, providing scalability, agility, and cost efficiency. Among its offerings is Amazon Managed Blockchain, a fully managed service simplifying the creation and management of scalable blockchain networks, supporting private and public networks with enhanced security and accessibility features. AWS empowers businesses and organizations to leverage the power of the cloud while focusing on their core activities and benefiting from AWS's cutting-edge services.

IBM (US):

• IBM (US)is a global technology and consulting company established in 1911. It offers a comprehensive portfolio of IT products and services, including system hardware, software, infrastructure solutions, hosting, consulting, and cybersecurity services. IBM solutions cater to diverse verticals, including automotive, aerospace and defense, healthcare, government, insurance, retail, telecommunications, media, and entertainment. Operating globally across the Americas, Europe, the Middle East, Africa, and Asia-Pacific regions, IBM delivers innovative solutions and services to meet the unique needs of its clients worldwide. IBM's blockchain-based digital identity and credentials solution enhance efficiency and trust through rapid verification and traceability, prioritizing privacy and security while adhering to open standards for seamless interoperability and customization.

Oracle (US):

• Oracle is a leading global provider of enterprise software and cloud services. In the realm of blockchain identity management, Oracle offers blockchain technology through its Oracle Blockchain Platform. This platform helps businesses securely manage digital identities, ensuring data integrity and streamlining identity verification processes.

Microsoft (US):

• Microsoft is a major technology company known for its software products and services. Microsoft provides blockchain identity solutions through its Azure cloud platform. Azure's blockchain services include decentralized identity systems that empower users with control over their digital identities, enhancing privacy and security in online transactions.

Bitfury (US):

• Bitfury is a prominent blockchain technology company that develops a range of blockchain solutions, including identity management systems. Bitfury's blockchain identity solutions focus on enhancing security, reducing fraud, and ensuring transparent and efficient identity verification processes across various industries.

NEC (Japan):

• NEC is a multinational information technology and electronics company based in Japan. NEC leverages blockchain technology to offer robust identity management solutions. These solutions aim to provide secure and efficient identity verification and management, helping to combat identity fraud and enhance privacy protections for individuals and organizations.

Dock (Switzerland):

• Dock is a Swiss-based company specializing in blockchain technology for digital identity management. Dock offers a decentralized platform that allows individuals and organizations to manage and verify identities securely. The company's solutions are designed to provide transparency, security, and user control over personal data, facilitating seamless identity verification processes.

Apart from large vendors, some other key players, such as Coinfirm (UK), Accumulate (US), Neuroware (Malaysia), Tradle (US), Peer Ledger (Canada), Procivis (Switzerland), SpringRole (US), Blockchains (US), Oaro (Canada), Fractal (Germany), NuID (US), Validated ID (Spain), KYC-Chain (Hong Kong), TRM Labs (US) and Factom (US) are also evolving in the blockchain identity management market.

According to MnM’s approach to evaluating the market, most businesses use inorganic growth tactics to hold onto their market share. These agreements cover alliances, acquisitions, collaborations, and partnerships together. Product launches and corporate growth activities are abruptly affected by factors such as government regulations. On the other hand, organizations are anticipated to embrace organic growth strategies to provide end consumers with blockchain identity management solutions and services, which would assist businesses in boosting market revenue.

Related Reports:

Blockchain Identity Management Market by Offering (Software and Services), Provider Type (Application Provider, Middleware Provider, and Infrastructure Provider), Network, Organization Size, Vertical and Region - Global Forecast to 2028