Blockchain Identity Management Market to Grow at a CAGR of 70.8% | Driven by Growing Demand for Digitization | Technavio

NEW YORK, June 21, 2022 /PRNewswire/ — Blockchain Identity Management Market Share Expected to Grow by $3.58 billion from 2020 to 2025, and the growth momentum of the market will accelerate at a CAGR of 70.8%. The blockchain identity management market is classified by Technavio as part of the global data processing and outsourced services market within the global IT services market. The Blockchain Identity Management Market research report provides valuable insights into the post-COVID-19 impact on the market which will help companies to evaluate their business approaches.

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Blockchain Identity Management Market: Key Drivers

The increase digitization request leads the blockchain identity management market. Several industries, including healthcare, consumer products, manufacturing and retail, are increasingly embracing digitalization globally. Due to this industry, computer resources become more vulnerable to cyber attacks. As a result, there is a greater demand for blockchain identity management systems that help avoid cyberattacks. Additionally, technical advancements such as the integration of chatbots into customer service applications and the global adoption of bring your own device (BYOD) policies have increased the need for proactive protection against cyberattacks. The popularity of the Bring Your Own Device (BYOD) policy is growing across industries as it allows employees to access company data using personal devices such as laptops. Due to the growing popularity of the BYOD policy, companies such as QlikTech International AB (QlikTech), VMware Inc. (VMware) and Parallels International GmbH (Parallels International) have developed a variety of BYOD solutions. When employees access company information on their own devices, such as mobile phones, the solution ensures security. As a result, various industries are integrating digitization-based processes, which propels the global blockchain identity management solutions market forward.

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Blockchain Identity Management Market: Key Challenges

The high price and complexity of integrating application software computing are should constitute a major obstacle to the blockchain identity management market during the forecast period. Enterprise application software solutions are expensive due to the high costs associated with licensing and development. Also, prices are decided based on the functionality of an application software and not on the basis of individual features used by customers. However, the high price of application software prevents organizations from purchasing such solutions or delays their purchase decisions, and limits the growth of the market. Moreover, companies use different applications such as TMS, CRM and SCM, and the integration of a new ERP with existing applications becomes difficult. Also, the growing popularity of Software as a Service (SaaS) in the market is further driving the integration of SAP with cloud-based applications. However, the technological differences between SAP and cloud-based applications create integration issues. Many apps are available for different purposes. In each case, the technology used is different, which makes integration complex.

Product information and news

The Blockchain Identity Management Market forecast report offers in-depth information about key vendor profiles. The profiles include production, sustainability and outlook information for key companies. For example, Accenture Plc., a leading provider, acquired Industry & Co to help Australian clients maximize Cloud First investments and transform them into digital businesses. Another provider, Amazon.com Inc., has partnered with Vodafone to bring ‘edge computing’ to the UK.

Supplier Information

The report identifies the following as the dominant vendors in the market:

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North America Contribution to Blockchain Identity Management Market

The raise of digitization request is should propel the blockchain identity management market become thin North America over the forecast period. The region should contribute 35% market growth in countries like the United States, and Canada are the key markets for blockchain identity management market. Market growth in North America is expected to outpace market growth in other regions.

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Market segmentation

The blockchain identity management market is segmented by end-user into BFSI segment, government segment, healthcare segment, and other segments. The BFSI segment is expected to be the major contributor to the market during the forecast period. The adoption of digital payments and the use of technologies such as machine learning and artificial intelligence in the global banking system are expected to increase the demand for more secure network connections and drive the market growth over the forecast period. ..

Highlights

• Market CAGR over the forecast period 2021-2025

• Comprehensive details of factors that will challenge the growth of the Blockchain Identity Management Market vendors

• In-depth information on factors that will drive the growth of the Blockchain Identity Management Market over the next five years

• Accurate predictions on upcoming trends and changes in consumer behavior

• An in-depth analysis of the market competitive landscape and detailed vendor information

• Accurate estimation of the Blockchain Identity Management market size and its contribution to the parent market

• The growth of the blockchain identity management industry through North America, EuropeACPA, South Americaand MEA

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Contents

1. Summary

2 Market landscape

3 Market sizing

4 Five forces analysis

5 Market Segmentation by Application

6 Market Segmentation by End User

7 Customer Landscape

8 Geographic landscape

9 drivers, challenges and trends

10 Supplier Landscape

11 Vendor Analysis

12 Appendix

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