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Global Decentralized Identity Market to reach USD 12866.68 million by 2028.

Global Decentralized Identity Market Size study, By Identity Type (Non- biometrics, Biometrics), By Organization Size (Large Enterprises, Small and Medium Enterprises), By Verticals (BFSI, Government, Healthcare and life sciences, Telecom and IT, Retail & E-Commerce, Other Verticals), and Regional Forecasts 2022-2028

Product Code: ICTICTS-39283972
Publish Date: 15-06-2022
Page: 200

Global Decentralized Identity Market is valued at approximately USD 151.03 million in 2021 and is anticipated to grow with a healthy growth rate of more than 88.7% over the forecast period 2022-2028. A decentralized identity is an approach to identity and access management (IAM). It enables users to create and control their own digital identity without relying on a particular service vendor. Factors such as the growing instances of security breaches and identity-related fraud, the rising need for non-human digital IDs and security in consumer goods, coupled with the increasing number of tactical initiatives by the key companies are some prominent factors that impel the global market demand. For instance, in March 2022, SecureKey was acquired by Avast with the aim of accessing Avast decentralized identity expertise and large customer base. Also, it will help Avast to expand its geographic footprints. Likewise, in April 2021, Accenture entered into a partnership agreement with Nuggets- a self-sovereign digital ID and payments platform. The objective of this partnership is to support Nuggets to enhance and develop the company’s business models and decentralized identity technologies. Accordingly, the rising number of strategic actions by the market players is fostering the demand for a decentralized identity, which boosts market growth across the globe. However, a lack of technical knowledge and understanding of the blockchain concept, along with the uncertain regulatory status and unavailability of a common set of standards curbs the growth of the market over the forecast period of 2022-2028. Also, the rising integration of blockchain in decentralized identity and the growing adoption of SSIs are anticipated to act as a catalyzing factor for the market demand during the forecast period.

The key regions considered for the global Decentralized Identity Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the rising adoption of various novel technologies, and the presence of various prominent market players such as Microsoft, Serto, Dragonchain, Civic Technologies, and many others. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the increasing number of criminal activities, and the growth of banking, cybersecurity and IoT sectors, would create lucrative growth prospects for the Decentralized Identity Market across the Asia-Pacific region.

Major market players included in this report are:
Microsoft
Accenture
Persistent
Wipro
SecureKey Technologies
Validated ID
Serto
Ping Identity
Dragonchain
Datarella

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Identity Type:
Non- biometrics
Biometrics
By Organization Size:
Large Enterprises
Small and Medium Enterprises
By Verticals:
BFSI
Government
Healthcare and life sciences
Telecom and IT
Retail & E-Commerce
Other Verticals
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global Decentralized Identity Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2028 (USD Million)
1.2.1. Decentralized Identity Market, by Region, 2020-2028 (USD Million)
1.2.2. Decentralized Identity Market, by Identity Type, 2020-2028 (USD Million)
1.2.3. Decentralized Identity Market, by Organization Size, 2020-2028 (USD Million)
1.2.4. Decentralized Identity Market, by Verticals, 2020-2028 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Decentralized Identity Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Decentralized Identity Market Dynamics
3.1. Decentralized Identity Market Impact Analysis (2020-2028)
3.1.1. Market Drivers
3.1.1.1. Growing instances of security breaches and identity related fraud
3.1.1.2. Increasing number of tactical initiatives by the key companies
3.1.2. Market Challenges
3.1.2.1. Lack of technical knowledge and understanding of blockchain concept
3.1.2.2. Uncertain regulatory status and unavailability of common set of standards
3.1.3. Market Opportunities
3.1.3.1. Rising integration of blockchain in decentralized identity
3.1.3.2. Growing adoption of SSIs
Chapter 4. Global Decentralized Identity Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2028)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
4.5. Top investment opportunity
4.6. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1.1. Assessment of the overall impact of COVID-19 on the industry
5.1.2. Pre COVID-19 and post COVID-19 market scenario
Chapter 6. Global Decentralized Identity Market, by Identity Type
6.1. Market Snapshot
6.2. Global Decentralized Identity Market by Identity Type, Performance – Potential Analysis
6.3. Global Decentralized Identity Market Estimates & Forecasts by Identity Type, 2018-2028 (USD Million)
6.4. Decentralized Identity Market, Sub Segment Analysis
6.4.1. Non- biometrics
6.4.2. Biometrics
Chapter 7. Global Decentralized Identity Market, by Organization Size
7.1. Market Snapshot
7.2. Global Decentralized Identity Market by Organization Size, Performance – Potential Analysis
7.3. Global Decentralized Identity Market Estimates & Forecasts by Organization Size 2018-2028 (USD Million)
7.4. Decentralized Identity Market, Sub Segment Analysis
7.4.1. Large Enterprises
7.4.2. Small and Medium Enterprises
Chapter 8. Global Decentralized Identity Market, by Verticals
8.1. Market Snapshot
8.2. Global Decentralized Identity Market by Verticals, Performance – Potential Analysis
8.3. Global Decentralized Identity Market Estimates & Forecasts by Verticals, 2018-2028 (USD Million)
8.4. Decentralized Identity Market, Sub Segment Analysis
8.4.1. BFSI
8.4.2. Government
8.4.3. Healthcare and life sciences
8.4.4. Telecom and IT
8.4.5. Retail & E-Commerce
8.4.6. Other Verticals
Chapter 9. Global Decentralized Identity Market, Regional Analysis
9.1. Decentralized Identity Market, Regional Market Snapshot
9.2. North America Decentralized Identity Market
9.2.1. U.S. Decentralized Identity Market
9.2.1.1. Identity Type breakdown estimates & forecasts, 2018-2028
9.2.1.2. Organization Size breakdown estimates & forecasts, 2018-2028
9.2.1.3. Verticals breakdown estimates & forecasts, 2018-2028
9.2.2. Canada Decentralized Identity Market
9.3. Europe Decentralized Identity Market Snapshot
9.3.1. U.K. Decentralized Identity Market
9.3.2. Germany Decentralized Identity Market
9.3.3. France Decentralized Identity Market
9.3.4. Spain Decentralized Identity Market
9.3.5. Italy Decentralized Identity Market
9.3.6. Rest of Europe Decentralized Identity Market
9.4. Asia-Pacific Decentralized Identity Market Snapshot
9.4.1. China Decentralized Identity Market
9.4.2. India Decentralized Identity Market
9.4.3. Japan Decentralized Identity Market
9.4.4. Australia Decentralized Identity Market
9.4.5. South Korea Decentralized Identity Market
9.4.6. Rest of Asia Pacific Decentralized Identity Market
9.5. Latin America Decentralized Identity Market Snapshot
9.5.1. Brazil Decentralized Identity Market
9.5.2. Mexico Decentralized Identity Market
9.6. Rest of The World Decentralized Identity Market

Chapter 10. Competitive Intelligence
10.1. Top Market Strategies
10.2. Company Profiles
10.2.1. Microsoft
10.2.1.1. Key Information
10.2.1.2. Overview
10.2.1.3. Financial (Subject to Data Availability)
10.2.1.4. Product Summary
10.2.1.5. Recent Developments
10.2.2. Accenture
10.2.3. Persistent
10.2.4. Wipro
10.2.5. SecureKey Technologies
10.2.6. Validated ID
10.2.7. Serto
10.2.8. Ping Identity
10.2.9. Dragonchain
10.2.10. Datarella
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

The study of the market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geographies to provide a better regional outlook. In the report, country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. Our analysts contact company executives, managers, key opinion leaders, and industry experts. This enables our analyst to derive the closest possible figures without any major deviations in the actual number.

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