What is Blockchain Identity Software?
Blockchain empowers safer administration and storage of digital identities by giving bound together, interoperable, and sealed foundation with key advantages to ventures, clients, and IoT the board frameworks. Blockchain innovation gives a likely answer for the issue outlined through empowering individuals to store information on a blockchain, as opposed to hackable servers. Data, once put away on a blockchain, is secured cryptographically and can't be adjusted or erased, consequently making gigantic information penetrates truly challenging, if not hypothetically inconceivable. The benefits of blockchain identity software are it helps in eradicating current identity issues such as Inaccessibility, Data insecurity, and fraudulent identities.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | AWS (United States), Bitfury (United States), Oracle (United States), IBM (US), Microsoft (United States), Bitnation (Switzerland), Blockverify (United Kingdom), Cambridge Blockchain (United States), Civic Technologies (United States) and Evernym (United States) |
The study covers a detailed analysis segmented by key business segments i.e. by type (Cloud-Based and On-Premises) , by application (Small Scale Enterprise, Medium Scale Enterprise and Large Scale Enterprise) and major geographies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Blockchain Identity Software market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Blockchain Identity Software market report suggests strategies that Players can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Players, some of them are AWS (United States), Bitfury (United States), Oracle (United States), IBM (US), Microsoft (United States), Bitnation (Switzerland), Blockverify (United Kingdom), Cambridge Blockchain (United States), Civic Technologies (United States) and Evernym (United States).
Market Overview:
ON 8 October 2020, Ping Identity, a developer of intelligent identity management for enterprises, has acquired ShoCard, a startup focused on blockchain-based security, and unveiled plans to bring that technology to market next year integrated with Ping’s security platform.
The Blockchain Identity Software market is a fragmented market with the availability of different players in the market. The companies are to increase their presence across emerging regions, increase investment in research and development activities and grow their revenue. Also, companies are making new collaborations with other companies to increase their technology scope and advancement in the technology.
Influencing Trend:
Increase in the technology advancement and implementation across the globe and The rise in the self-sovereign identification
Market Growth Drivers:
Increase problems regarding the security increase need of the blockchain identity software and Increase in the adoption of the blockchain identity software to secure the identity and solve the current identity-related problems
Challenges:
High cost of the research and development of technology and Lack of skilled professionals in the industry
Restraints:
Lack of common regulatory standards regarding technology application and High cost of the technology development and implementation
Opportunities:
Development of technology infrastructure in the emerging nations and Increase technology research investment to develop new technology and reduce current technology errors
Key highlights of the Global Blockchain Identity Software market Study:
CAGR of the market during the forecast period 2021-2027
In-depth information on growth factors that will accelerate the Blockchain Identity Software market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Blockchain Identity Software market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Players
Comprehensive information about factors that will challenge the growth of Blockchain Identity Software Players
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Blockchain 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, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Blockchain Identity Software market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using 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 Blockchain technology solution vendors, Consulting firms, Independent Software Vendors (ISVs), Regulatory bodies, VARs and Others.
This helps us to gather the data for the 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 include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.