Global Decentralized Identity Software Market Overview:
Decentralized identity software is software used for identity management and verification by companies. With the help of this software companies can validate or manage the identities of employees, customers, other end users, and even devices like the internet of things (IoT) devices. Decentralized identity software helps in rapidly onboarding new users, reducing user identity fraud, reducing costs associated with provisioning and issuing digital certificates, offering end users a privacy-preserving identity verification method, and reducing security risks associated with centrally storing identity information, including regulated data such as personally identifiable information (PII).
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Growing Need of Non-Human Digital IDs and Security in Consumer Goods
Market Growth Drivers:
Rise in the Incidences of Data Breaches and Increased Number of Cyberattacks, Frauds and Other Financial Crimes
Challenges:
Lack of Regulatory Guidelines and Standardization
Restraints:
Interoperability Among the Identity System
Opportunities:
Integration of Blockchain in Decentralized Identity and Emerging Need of Smart Contracts
Competitive Landscape:
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations.
Some of the key players profiled in the report are Microsoft (United States), IBM (United States), Authenteq Tarbena GmbH (Germany), Civic Technologies, Inc. (United States), Evernym, Inc. (United States), Cambridge Blockchain Inc. (United States), Finema Co., Ltd. (Thailand), Jolocom GmbH (Germany), Okta, Inc. (United States) and Keyp GmbH (Germany). Analyst at AMA Research see United States Players to retain maximum share of Global Decentralized Identity Software market by 2030. Considering Market by Platform, the sub-segment i.e. Mobile Based will boost the Decentralized Identity Software market. Considering Market by Industry Vertical, the sub-segment i.e. Banking will boost the Decentralized Identity Software market. Considering Market by Deployment, the sub-segment i.e. Cloud-Based will boost the Decentralized Identity Software market. Considering Market by Pricing Model, the sub-segment i.e. Free Trial will boost the Decentralized Identity Software market.
Latest Market Insights:
In October 26, 2023, SecureKey Technologies, a Canadian leader in decentralized identity, acquired 1Kosmos, a German self-sovereign identity platform, for an undisclosed sum. This move expands SecureKey's reach into the European market and strengthens its position in the global decentralized identity ecosystem.
In March 2021, Microsoft Launched the Decentralized Identity Platform ION On Bitcoin's Blockchain. After four years in the making, the layer two network was successfully deployed on the Bitcoin mainnet.
What Can be Explored with the Decentralized Identity Software Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Decentralized Identity Software Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Decentralized Identity Software
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Decentralized Identity Software market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Decentralized Identity Software market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Decentralized Identity Software Developers, Emerging Companies, Research Professionals and End-users.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.