Blockchain identity management offers multifaceted applications, boasting features such as data immutability, decentralized control, and cryptographic security. It finds use in secure identity verification for individuals and entities across industries, including finance, healthcare, and supply chain. Enabling users to control and share personal information securely, it streamlines KYC processes, enhances digital privacy, and safeguards against identity fraud, revolutionizing how identities are managed and verified in the digital realm.
According to Data Bridge Market Research, the North America Blockchain Identity Management Market accounted for USD 377.59 million by 2021 and is expected to reach the value of USD 11,397.83 million by 2029. The market is expected to grow with a CAGR of 53.10% in the forecast period of 2022 to 2029.
“Increased adoption of the Internet of Things (IoT) boosts the market’s growth”
The blockchain identity management market is experiencing growth due to increased adoption of the Internet of Things (IoT). As IoT integration expands, industries seek efficient ways to display and manage data. Open frame displays provide customizable solutions for embedding IoT-enabled interfaces into machinery and equipment. This trend drives demand, enhancing user interaction and data visualization, thereby propelling market growth as industries harness the power of IoT to optimize operations and decision-making processes.
What restraints the growth of the North America blockchain identity management market?
“Lack of understanding of blockchain technology restraints the market’s growth”
The growth of the blockchain identity management market is hindered by a lack of understanding of blockchain technology. As potential users and businesses may not grasp the intricacies of blockchain's implementation and benefits, adoption becomes challenging.
Segmentation: North America Blockchain Identity Management Market
The North America blockchain identity management market is segmented on the basis of component, networks, provider, organization size, and industry.
- On the basis of component, the blockchain identity management market is segmented into software, and solution.
- On the basis of networks, the blockchain identity management market is segmented into permissioned, and permissionless.
- On the basis of provider, the blockchain identity management market is segmented into application providers, middleware providers, and infrastructure providers.
- On the basis of organization size, the blockchain identity management market is segmented into large enterprises, small enterprises, and medium-sized enterprises.
- On the basis of industry, the blockchain identity management market is segmented into BFSI, government, healthcare and life sciences, telecom and it, retail and e-commerce, transport and logistics, real estate, media and entertainment, travel and hospitality, and others.
Regional Insights: U.S. is leading the North America Blockchain Identity Management Market
In North America as region, U.S. is leading followed by Mexico and Canada for blockchain identity management market due to a surge in business digitization and digital transactions is driving market expansion. The U.S. takes the lead due to its keen adoption of advanced technology and robust infrastructure. As digitalization becomes crucial for efficiency, the U.S. stands at the forefront, capitalizing on its technological readiness to fuel market growth.
Recent Developments
- In April 2020, IBM Corporation launched a novel initiative to address medical equipment shortages by leveraging cutting-edge supply chain management solutions. Named IBM Rapid Supplier Connect, this innovation employs a blockchain-based network to assist healthcare institutions and government agencies in discovering alternative suppliers. The solution employs blockchain identity management for verification, enabling the identification of non-traditional providers.
To know more about the study visit, https://www.databridgemarketresearch.com/ar/reports/north-america-blockchain-identity-management-market
The Prominent Key Players Operating in the North America Blockchain Identity Management Market Include:
- Amazon Web Services, Inc. (U.S.)
- IBM (U.S.)
- Bitfury Group Limited (Netherlands)
- Civic Technologies, Inc (U.S.)
- EVERNYM INC., (U.S.)
- NETKI (U.S.)
- Microsoft (U.S.)
- Oracle (U.S.)
- KYC-CHAIN LIMITED (China)
- Factom (U.S.)
- OARO (Canada)
- Procivis AG (Germany)
- BTL Group (Ukraine)
- OriginalMy (Brazil)
- Bitnation (U.S.)
- Tracxn Technologies Limited (India)
Above are the key players covered in the report, to know about more and exhaustive list of North America blockchain identity management market companies contact, https://www.databridgemarketresearch.com/ar/contact
Research Methodology: North America Blockchain Identity Management Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, North America vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
