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New York, NY, December 18, 2018 (GLOBE NEWSWIRE) – Zion Market Research has published a new report titled "Blockchain Identity Management: market for distribution (public, private and hybrid), for application (multi-factor authentication, password management, access management, directory services and more) and vertical (BFSI, retail, logistics, assistance Health, Government, IT and Telecom, Media and Entertainment, Travel and Hospitality and others): Global industry perspective, complete analysis and forecast 2017-2024 & # 39; & # 39;. According to the report, the global blockchain identity management market it has been valued at around USD 55 million in 2017 and is expected to reach approximately USD 3,454 million by 2024, with a CAGR up slightly more than 80% between 2018 and 2024.
Authentication, storage and disclosure of digital identity is a vital element in today's data-driven world. Blockchain technology behaves like an immutable ledger, where information from each transaction is stored in different blocks of data, which are used to develop a secure, secure and transparent tool for identity management. This blockchain-based identity management system offers various advantages over different verticals.
Navigate between 84 Tables and 34 Figures distributed on 131 Pages and in-depth TOC on "Global Market of Blockchain Identity Management: dimensions, share, growth, trends, analysis and sector forecasts, 2017-2024".
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Blockchain identity management systems offer multiple benefits to its users, such as fast transactions, elimination of malicious activities and prevention of data breaches. Due to the increase in recent hacker attacks, various global organizations are opting for blockchain identity management solutions to ensure the protection of their customer data from online fraud and digital clones. The Blockchain identity management system aims to provide control over the identity of the user. The decentralized mechanism implicit in this system plays an important role in securing and managing data for individuals or organizations.
The benefits of the blockchain-based identity management system include improved security and a better end-user experience, reduced redundant compliance steps, and the ability to meet global privacy / identity requirements. Technology giants, like IBM, are working hard to prevent fraud on their customers' data. The growing demand for self-sufficient identification and the simplification of KYC are some factors that fuel the global market of blockchain identity management. Furthermore, the digitalisation of activities and processes could drive this market in the future. However, the lack of common regulatory standards and privacy issues could hold back the future of the blockchain identity management market globally. However, the growing application and implementation of blockchain-based identity management solutions in the BFSI industry are designed to create new opportunities in the blockchain identity management market over the next few years.
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The blockchain identity management market by segmenting the market based on distribution, application and vertical. With the implementation, this market is divided into public cloud, private cloud and hybrid cloud. Private cloud is expected to see substantial growth in the future thanks to its ability to provide good security compared to a public cloud. For application, this market is divided into multi-factor authentication, password management, access management, directory services and more. It is expected that multi-factor authentication will maintain a substantial share in the future. The vertical segment is divided into BFSI, retail, logistics, healthcare, public administration, IT and telecommunications, media and entertainment, travel and hospitality and others. The BFSI segment is expected to see significant growth over the expected time period due to its massive use in the banking sector.
North America is expected to hold a significant share in the global blockchain identity management market due to the high penetration rate of these solutions in the United States and Canada. Several global players offer services to regional customers through collaboration with other key players. Multiple banks, insurance companies and lenders are investing and implementing blockchain-based identity solutions for regional consumers. In 2014, about 18 million people in the United States were affected, with a loss of billions of dollars for the government, businesses and individuals. Therefore, to prevent or reduce such losses, several actors join organizations to implement blockchain-based identity management systems in the region.
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The blockchain identity management market in Asia Asia is experiencing substantial growth thanks to the large-scale acceptance of blockchain identity management solutions in the region. This growth can also be attributed to the high rate of adoption of these solutions by China, South Korea, India, Australia and Japan. Some of the main factors that can drive this regional growth include the regulation of blockchain technology and the increase in the number of start-ups in several countries in the region. For example, in 2018, a research organization led by the Chinese government launched the blockchain-as-a-service platform for identity management and supply chain monitoring. The main countries in the region opt for digitization and blockchain-based solutions as a primary choice.
Europe is expected to grow substantially in the forecast period due to the enormous acceptance of online services in Switzerland, Finland, Germany, the United Kingdom, Italy and France. The Estonian authorities make extensive use of blockchain identity management solutions. The government has implemented the KSI blockchain for e-Identity identity cards. The European government is leading the blockchain identity management market through the implementation of blockchain-based solutions. For example, in April 2018, 22 EU countries signed a declaration to establish a European blockchain partnership in order to exchange experience and expertise in technical fields in the Member States. Other programs, such as the "GSMA Mobile Identity Program", are designed to investigate the use of blockchain to make existing Mobile Connect solutions more convenient and user-friendly.
Browse the full "Blockchain Identity Management: market for distribution (public, private and hybrid), for application (multi-factor authentication, password management, access management, directory services and more) and vertical (BFSI, retail, logistics, assistance Health, Government, IT and Telecom, Media and Entertainment, Travel and Hospitality and more): Global industry outlook, global analysis and 2017-2024 forecast " Report At https://www.zionmarketresearch.com/report/blockchain-identity-management-market
The Latin American region is expected to see substantial growth thanks to the implementation of blockchain-based identity management solutions. The main countries, such as Saudi Arabia, the United Arab Emirates, Brazil and Israel, are the main regional contributors and have adopted a self-sufficient identification process.
Some of the major players operating in the global blockchain identity management market are AWS, IBM, Civic Technologies, Bitfury, KYC-Chain, Factom, Oracle, Evernym, Inc., Netki, Inc., UniquID Inc., Peer Ledger and BlockVerify. , among others.
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This report segments the global market of blockchain identity management as follows:
Blockchain Identity Management Market: analysis of the distribution segment
- Public cloud
- Private cloud
- Hybrid cloud
Blockchain Identity Management Market: analysis of the application segment
- Multiple factor authentication
- Password management
- access management
- Directory services
- Others
Blockchain Identity Management Market: analysis of the vertical segment
- BFSI
- Retail
- the logistics
- Health care
- Government
- IT and Telecom
- Media and entertainment
- Travel and hospitality
- Others
Blockchain identity management market: analysis of the regional segment
- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East and Africa
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