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Blockchain Identity Management Market: Key Drivers
The increasing demand for digitalization is driving the blockchain identity management market. Several industries, including healthcare, consumer products, manufacturing, and retail, are increasingly adopting digitalization globally. Owing to this industry IT resources are becoming more vulnerable to cyberattacks. As a result, there is a greater demand for blockchain identity management systems that help in avoiding cyberattacks. Furthermore, technical advancements such as the incorporation of chatbots in customer service apps and the global adoption of the bring your own device (BYOD) policy have raised the necessity for proactive cyberattack protection. The popularity of the Bring Your Own Device (BYOD) policy is increasing across all industries as it allows employees to access corporate data using personal devices such as and laptops. Owing to the growing popularity of the BYOD policy, firms such as QlikTech International AB (QlikTech), VMware Inc. (VMware), and Parallels International GmbH (Parallels International) have developed a variety of BYOD solutions. When workers access corporate information on their own devices, such as cellphones, the solution assures security. As a result, various industries are integrating digitalization-based processes, which is propelling the worldwide blockchain identity management solutions market forward.
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Blockchain Identity Management Market: Key Challenges
High price and complexity in integration of application software computing are expected to be a major hindrance to the blockchain identity management market during the forecast period. Enterprise application software solutions are expensive due to the high costs associated with the licensing and development. Furthermore, prices are decided on the basis of the features of an application software not on the basis of the individual features used by customers. However, the high price of application software restricts organizations from purchasing such solutions or delays their purchase decisions, and limits market growth. Furthermore, enterprises use different applications such as TMS, CRM, and SCM, and integrating a new ERP with the existing applications becomes difficult. In addition, the increase in popularity of Software as a Service (SaaS) in the market is further leading to the integration of SAP with cloud-based applications. However, technological differences between SAP and cloud-based applications create integration issues. Numerous applications are available for different purposes. In each case, the technology used is different, thereby making the integration complex.
Product Insights and News
The blockchain identity management market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. For instance, Accenture Plc., a leading vendor, acquired Industrie & Co to help Australian clients maximize Cloud First Investments and transform them into digital businesses. Another vendor, Amazon.com Inc. partnered with Vodafone to launch 'edge computing' in the UK.
Vendor Insights
The report identifies the following as the dominant vendors in the market:
- Accenture Plc
- Amazon.com Inc.
- Bitfury Group Ltd.
- BLOCKCHAINS LLC
- Broadcom Inc.
- Civic Technologies Inc.
- International Business Machines Corp.
- Oracle Corp.
- SAP SE
- SecureKey Technologies Inc.
Blockchain Identity Management Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 70.8% |
Market growth 2021-2025 |
$ 3.58 billion |
Market structure |
Fragmented |
YoY growth (%) |
55.46 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
North America at 35% |
Key consumer countries |
US, UK, Canada, Germany, and Japan |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Accenture Plc, Amazon.com Inc., Bitfury Group Ltd., BLOCKCHAINS LLC, Broadcom Inc., Civic Technologies Inc., International Business Machines Corp., Oracle Corp., SAP SE, and SecureKey Technologies Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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North America's Contribution to Blockchain Identity Management Market
The increase in demand for digitalization is expected to propel the blockchain identity management market growth in North America over the forecast period. The region is expected to contribute 35% of market growth as countries such as the US, and Canada are the key markets for the blockchain identity management market. Market growth in North America is expected to be higher than the growth of the market in other regions.
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Market Segmentation
The blockchain identity management market is divided by end-user into the BFSI segment, government segment, healthcare segment, and others segment. The BFSI segment is expected to be the major contributor to the market during the forecast period. The adoption of digital payments and use of technologies such as machine learning, and artificial intelligence in the global banking system is expected to increase the demand for more secure network connections and drive market growth during the forecast period.
Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Comprehensive details of factors that will challenge the growth of blockchain identity management market vendors
- Detailed information on factors that will drive blockchain identity management market growth during the next five years
- Accurate predictions on upcoming trends and changes in consumer behavior
- A thorough analysis of the market's competitive landscape and detailed information on vendors
- Precise estimation of the blockchain identity management market size and its contribution to the parent market
- The growth of the blockchain identity management industry across North America, Europe, APAC, South America, and MEA
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Table of Contents
1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 01: Parent market
- Exhibit 02: Market characteristics
- 2.2 Value chain analysis
- Exhibit 03: Value Chain Analysis: Data processing and outsourced services
3 Market Sizing
- 3.1 Market definition
- Exhibit 04: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 05: Market segments
- 3.4 Market outlook: Forecast for 2020 - 2025
- Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
- Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 08: Five forces analysis 2020 & 2025
- 4.2 Bargaining power of buyers
- Exhibit 09: Bargaining power of buyers
- 4.3 Bargaining power of suppliers
- Exhibit 10: Bargaining power of suppliers
- 4.4 Threat of new entrants
- Exhibit 11: Threat of new entrants
- 4.5 Threat of substitutes
- Exhibit 12: Threat of substitutes
- 4.6 Threat of rivalry
- Exhibit 13: Threat of rivalry
- 4.7 Market condition
- Exhibit 14: Market condition - Five forces 2020
5 Market Segmentation by Application
- 5.1 Market segments
- Exhibit 15: Application - Market share 2020-2025 (%)
- 5.2 Comparison by Application
- Exhibit 16: Comparison by Application
- 5.3 End-point - Market size and forecast 2020-2025
- Exhibit 17: End-point - Market size and forecast 2020-2025 ($ million)
- Exhibit 18: End-point - Year-over-year growth 2020-2025 (%)
- 5.4 Network - Market size and forecast 2020-2025
- Exhibit 19: Network - Market size and forecast 2020-2025 ($ million)
- Exhibit 20: Network - Year-over-year growth 2020-2025 (%)
- 5.5 Infrastructure - Market size and forecast 2020-2025
- Exhibit 21: Infrastructure - Market size and forecast 2020-2025 ($ million)
- Exhibit 22: Infrastructure - Year-over-year growth 2020-2025 (%)
- 5.6 Market opportunity by Application
- Exhibit 23: Market opportunity by Application
6 Market Segmentation by End-user
- 6.1 Market segments
- Exhibit 24: End user - Market share 2020-2025 (%)
- 6.2 Comparison by End user
- Exhibit 25: Comparison by End user
- 6.3 BFSI - Market size and forecast 2020-2025
- Exhibit 26: BFSI - Market size and forecast 2020-2025 ($ million)
- Exhibit 27: BFSI - Year-over-year growth 2020-2025 (%)
- 6.4 Government - Market size and forecast 2020-2025
- Exhibit 28: Government - Market size and forecast 2020-2025 ($ million)
- Exhibit 29: Government - Year-over-year growth 2020-2025 (%)
- 6.5 Healthcare - Market size and forecast 2020-2025
- Exhibit 30: Healthcare - Market size and forecast 2020-2025 ($ million)
- Exhibit 31: Healthcare - Year-over-year growth 2020-2025 (%)
- 6.6 Others - Market size and forecast 2020-2025
- Exhibit 32: Others - Market size and forecast 2020-2025 ($ million)
- Exhibit 33: Others - Year-over-year growth 2020-2025 (%)
- 6.7 Market opportunity by End user
- Exhibit 34: Market opportunity by End user
7 Customer landscape
- 7.1 Overview
- Exhibit 35: Customer landscape
8 Geographic Landscape
- 8.1 Geographic segmentation
- Exhibit 36: Market share by geography 2020-2025 (%)
- 8.2 Geographic comparison
- Exhibit 37: Geographic comparison
- 8.3 North America - Market size and forecast 2020-2025
- Exhibit 38: North America - Market size and forecast 2020-2025 ($ million)
- Exhibit 39: North America - Year-over-year growth 2020-2025 (%)
- 8.4 Europe - Market size and forecast 2020-2025
- Exhibit 40: Europe - Market size and forecast 2020-2025 ($ million)
- Exhibit 41: Europe - Year-over-year growth 2020-2025 (%)
- 8.5 APAC - Market size and forecast 2020-2025
- Exhibit 42: APAC - Market size and forecast 2020-2025 ($ million)
- Exhibit 43: APAC - Year-over-year growth 2020-2025 (%)
- 8.6 South America - Market size and forecast 2020-2025
- Exhibit 44: South America - Market size and forecast 2020-2025 ($ million)
- Exhibit 45: South America - Year-over-year growth 2020-2025 (%)
- 8.7 MEA - Market size and forecast 2020-2025
- Exhibit 46: MEA - Market size and forecast 2020-2025 ($ million)
- Exhibit 47: MEA - Year-over-year growth 2020-2025 (%)
- 8.8 Key leading countries
- Exhibit 48: Key leading countries
- 8.9 Market opportunity by geography
9 Drivers, Challenges, and Trends
- 9.2 Market challenges
- Exhibit 50: Impact of drivers and challenges
10 Vendor Landscape
- 10.1 Overview
- Exhibit 51: Vendor landscape
- 10.2 Landscape disruption
- Exhibit 52: Landscape disruption
- Exhibit 53: Industry risks
- 10.3 Competitive Scenario
11 Vendor Analysis
- 11.1 Vendors covered
- Exhibit 54: Vendors covered
- 11.2 Market positioning of vendors
- Exhibit 55: Market positioning of vendors
- 11.3 Accenture Plc
- Exhibit 56: Accenture Plc - Overview
- Exhibit 57: Accenture Plc - Business segments
- Exhibit 58: Accenture Plc – Key news
- Exhibit 59: Accenture Plc - Key offerings
- Exhibit 60: Accenture Plc - Segment focus
- 11.4 Amazon.com Inc.
- Exhibit 61: Amazon.com Inc. - Overview
- Exhibit 62: Amazon.com Inc. - Business segments
- Exhibit 63: Amazon.com Inc. – Key news
- Exhibit 64: Amazon.com Inc. - Key offerings
- Exhibit 65: Amazon.com Inc. - Segment focus
- 11.5 Bitfury Group Ltd.
- Exhibit 66: Bitfury Group Ltd. - Overview
- Exhibit 67: Bitfury Group Ltd. - Product and service
- Exhibit 68: Amazon.com Inc. – Key news
- Exhibit 69: Bitfury Group Ltd. - Key offerings
- 11.6 BLOCKCHAINS LLC
- Exhibit 70: BLOCKCHAINS LLC - Overview
- Exhibit 71: BLOCKCHAINS LLC - Product and service
- Exhibit 72: BLOCKCHAINS LLC – Key news
- Exhibit 73: BLOCKCHAINS LLC - Key offerings
- Exhibit 74: BLOCKCHAINS LLC - Segment focus
- 11.7 Broadcom Inc.
- Exhibit 75: Broadcom Inc. - Overview
- Exhibit 76: Broadcom Inc. - Business segments
- Exhibit 77: Broadcom Inc. – Key news
- Exhibit 78: Broadcom Inc. - Key offerings
- Exhibit 79: Broadcom Inc. - Segment focus
- 11.8 Civic Technologies Inc.
- Exhibit 80: Civic Technologies Inc. - Overview
- Exhibit 81: Civic Technologies Inc. - Product and service
- Exhibit 82: Civic Technologies Inc – Key news
- Exhibit 83: Civic Technologies Inc. - Key offerings
- 11.9 International Business Machines Corp.
- Exhibit 84: International Business Machines Corp. - Overview
- Exhibit 85: International Business Machines Corp. - Business segments
- Exhibit 86: International Business Machines Corp. – Key news
- Exhibit 87: International Business Machines Corp. - Key offerings
- Exhibit 88: International Business Machines Corp. - Segment focus
- 11.10 Oracle Corp.
- Exhibit 89: Oracle Corp. - Overview
- Exhibit 90: Oracle Corp. - Business segments
- Exhibit 91: Oracle Corp.– Key news
- Exhibit 92: Oracle Corp. - Key offerings
- Exhibit 93: Oracle Corp. - Segment focus
- 11.11 SAP SE
- Exhibit 94: SAP SE - Overview
- Exhibit 95: SAP SE - Business segments
- Exhibit 96: SAP SE – Key news
- Exhibit 97: SAP SE - Key offerings
- Exhibit 98: SAP SE - Segment focus
- 11.12 SecureKey Technologies Inc.
- Exhibit 99: SecureKey Technologies Inc. - Overview
- Exhibit 100: SecureKey Technologies Inc. - Product and service
- Exhibit 101: SecureKey Technologies Inc. – Key news
- Exhibit 102: SecureKey Technologies Inc. - Key offerings
12 Appendix
- 12.2 Currency conversion rates for US$
- Exhibit 103: Currency conversion rates for US$
- 12.3 Research methodology
- Exhibit 104: Research Methodology
- Exhibit 105: Validation techniques employed for market sizing
- Exhibit 106: Information sources
- 12.4 List of abbreviations
- Exhibit 107: List of abbreviations
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library and its client base consist of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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